Brazil Permanent Residency Investor Visa | An Incomplete Guide

Overview:

Brazil’s VIPER (Permanent Residency Investor Visa) program is an investment-based immigration program that allows foreign investors to obtain permanent residency by purchasing property in Brazil or starting a business.

Officially, the minimum investment requirement is 150,000 Brazilian Reals (approximately US$26,700). However, in practice, applicants often need to provide evidence of a higher investment or demonstrate that their investment will contribute to Brazil’s innovative economy or create jobs.

There are four primary ways to secure Brazilian permanent residency through investment:

1. Invest 150,000 Brazilian Reals (approximately US$26,700) in Brazil’s innovative or high-tech sector. You must prove that your investment will stimulate the Brazilian economy or create at least 10 jobs.

2. Invest 500,000 Brazilian Reals (approximately US$89,000) in a newly established or acquired Brazilian company and actively manage it.

3. Invest 700,000 Brazilian Reals (approximately US$125,000) in a property located in Brazil’s northern or northeastern regions.

4. Invest 1,000,000 Brazilian Reals (approximately US$178,000) in a property located in other parts of Brazil.

In addition to the investment, VIPER applicants must meet the following basic requirements:

• Be at least 18 years old

• Be in good health

• Have a clean criminal record

• Have sufficient funds to support themselves and their family in Brazil

For business investments, up to three company executives can apply as principal applicants. However, after three years, the Brazilian authorities will review the company’s performance. Only if the company passes the review can the VIPER be renewed.

For real estate investments, you must hold the property for at least four years. After four years, you can apply for Brazilian permanent residency. However, if your investment exceeds 1,000,000 Brazilian Reals (approximately US$178,000), you can apply for fast-track naturalization after three years of legal residence in Brazil. The standard naturalization process takes eight years.

In summary, the VIPER program offers multiple pathways to Brazilian permanent residency through investment, but each pathway has specific requirements and conditions.

Application Process:

The application process for VIPER can be mainly divided into the following steps:

1. Apply for Brazilian Social Security Number CPF: CPF (Cadastro de Pessoas Físicas) is a tax and social security number that all foreigners moving to Brazil must apply for first.

2. Complete the Investment: If you choose the real estate investment option, you can complete the property purchase steps at this point. If you choose the business investment option, you need to submit your business plan to the Brazilian immigration authorities. Once the business plan is approved, you can transfer the funds to Brazil and start operating the company.

It is important to note that, like in Japan, the legal representative of a company must be a national or permanent resident. Therefore, when establishing a company in Brazil, you need to find a local partner to serve as the legal representative.

Additionally, during this step, you need to open an account at a Brazilian bank, transfer the required investment funds, and deposit an adequate amount to prove that you can support yourself and your family in Brazil.

3. Submit the Application: After completing the investment, registering the investment with the Central Bank of Brazil, and gathering all the necessary documents, you can submit your application to the Ministry of Labor of Brazil.

Required documents for this project include:

• Identification documents: Passports and two passport-sized photos (5×7 cm) for each applicant; the main applicant’s resume (required for business investment option); birth certificates, marriage certificates, and other relationship proofs between main and secondary applicants.

• Application letter: A brief statement explaining your desire and reasons for moving to Brazil.

• No criminal record certificate.Applicant’s address in Brazil: You need to provide a regular contact address, which can be a hotel address or the address of a friend/agent.

• Bank-issued proof of funds: This generally needs to prove the inflow and outflow of investment funds, as well as funds for the main applicant’s family’s living expenses in Brazil.

• Medical examination certificate.

• Proof of completed investment.

All documents from outside Brazil need to be notarized, and all non-Portuguese documents must be translated into Portuguese.

Generally, the Ministry of Labor’s review period does not exceed 30 days. Once your application is approved, you can go to a Brazilian consulate to stamp your passport as proof of VIPER.

4. Collect Residence Card: After entering Brazil, all main and secondary applicants need to visit the nearest Brazilian police station to collect the residence card and the Brazilian Foreigners ID card CRNM (National Migratory Registration Card).

Minimum Residency Requirement:

During the process of applying for VIPER, investors need to stay in Brazil while waiting for the application result. The review period by the Brazilian Ministry of Labor is approximately 30 days, so when applying for VIPER, you need to reside in Brazil for at least 30 days.

Once approved, Brazilian permanent residents only need to enter Brazil once every two years to maintain their permanent residency status.

Dependents:

Under the VIPER program, the main applicant’s spouse, parents, and children under 24 can settle in Brazil as dependents.

Citizenship:

Brazilian permanent residents can apply for naturalization after legally residing in the country for four years and meeting the Portuguese language proficiency standards.

For investors in the real estate sector under the VIPER program, if your investment exceeds 1 million reais, you can apply for Brazilian citizenship through a fast-track channel after legally residing in Brazil for three years.