The immigrant who wishes, with his or her funds abroad, to invest in real estate property in the country with potential to generate jobs or income, may be granted a 2-year residence permit in Brazil. That is what Resolution No. 36 of the National Immigration Council ("Res. 36"), published on 11/21/2018.
The granting of a residence permit for real estate investment is conditional on:
– the acquisition of real estate property that has already been constructed or under construction;
– located in the urban area;
– in an amount equal to or greater than R$ 1,000,000.00;
The minimum investment value may be up to 30% lower than the total amount mentioned above, when the purchased property is in the North and Northeast regions of Brazil.
The Ministry of Labor will review the permit application for residence for purposes of granting the temporary visa. For that purpose, it will review the documents related to the property and to the international transfer of capital, and if the investor may benefit from Res. 36.It may also make a visit to investigate whether the investment has been made and if its purposes have been met.
During the term granted in the residence permit, the investor must stay in Brazil for at least 30 (thirty) days as from the registration with the Federal Police.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.