In order to make an investment in Brazil, foreign companies or businesspeople have to obtain a Brazilian visa. Here you will find information about the investment requirements to obtain it in Brazil.
Although Brazilian corporate law has no formal minimum capital investment requirement, in practice, the immigration authorities require a minimum investment for nonresidents. The investment can be either cash, transfer of technology or capital goods.
In order to increase the foreign investments in the country, it was created the Brazilian residence and citizen program to foreign investors by the Conselho Nacional de Imigração, known as CNI, which is the National Immigration Council.
Requirements for Permanent Visa
Permanent visa is linked to the foreign investors and to the company they will invest in. This is only available for investments designated to already existing or new Brazilian companies that will have foreign direct money as part of their capital.
The permanent visa can be offered to foreigners who invest in productive activities and to foreigners that plan to stay in Brazil indefinitely to manage their investments. Activities regarding passive investments, such as buy a house, land or stocks, don't qualify for getting visa.
Amounts of money lower than the mandatory initial transfer of BRL 150.000,00 will be submitted to CNI. The Council will then examine visa requests, in order to authorize or not the acquisition, using the following criteria:
- the number of jobs generated in Brazil
- the region of the country where the investment will be applied and its value
- which economic sector will benefited from the investment and from the contribution to the growth on productivity or new technology
The value investment requirements are also subjected to the value added that it will cause. If the company commits to generate at least ten new jobs in a two-year period, even if it does not present the value of investment required above, the company can sponsor for a permanent visa.
Companies that Can Be Visas Sponsors
Remembering that “Brazilian company” means one company constituted in Brazil under Brazilian law, the following companies can apply for visa:
- Brazilian company composed only by foreign capital may request a permanent visa for a foreign manager or foreign investor;
- Brazilian company with mixed capital – foreign and Brazilian –, may request a permanent visa for a foreign manager or foreign investor;
- Brazilian company composed by Brazilian capital and one or more subsidiaries outside of Brazil may request a permanent visa for a foreign manager.
Brazilian company composed only by Brazilian capital and no subsidiary outside of Brazil may not request a permanent visa for a foreign manager or investor. However, such a company may request a temporary work visa for a specialist.
Procedures to Get a Visa
The foreign investors themselves are not responsible for the application for the visa; the company receiving the investment that must apply for it. The investors must first set up a new company in Brazil, and only when the company has been formally established and the investment received, they must apply for the visa.
The process might be directed to the CNI and the application should be made there, but the process will be forwarded to Brasília.
The application for the permanent visa should be delivered with the following documentation:
- visa requirement
- articles of association
- registry of direct foreign investment in SISBACEN
- original proof of payment of the individual immigration charge on behalf of the requesting company
- delivery receipt of the income tax declaration in last fiscal exercise of the requesting company
- investment plan.
Permanent Visa Renovation
The foreign RNE of the Private Investor will be valid for three years and must be renewed before its expiration date, otherwise the permanent visa will be canceled. In order to have the RNE renewed, the following documents must be presented:
- proof of payment of the RNE renew fee
- original RNE
- receipt of the income tax declaration in last fiscal year of the requesting company
- copy of the Relatório Anual de Informações Sociais, known as RAIS, which is the Annual Report of Social Information of the last two years, demonstrating that the investment plan proposed by the company concerning the creation of employment is being followed
- copy of the last deduction of the Government Severance Indemnity Fund for Employees, known as FGTS, containing the list of all employees.