Brazil ~ Permanent Residence Visa (VIPER) for Investors & Entrepreneurs
Time to Permanent Residency: 0 Year ~ Time to Citizenship: 4 Years
The Permanent Visa (VIPER) in Brazil may be granted to foreign-nationals, who intend to live in the country for more than 2 years and are married to a Brazilian citizen or permanent resident, to retired persons who receive a regular pension, or to qualified employees or professors, scientists or researchers or to administrators, investors or directors of companies located in ZPE (free trade area), or to investors or members of a religious order. Dependents may be included in the application, including spouse, dependents under 24 years of age and parents.
Although the permanent visa entitles a resident to live and work indefinitely in Brazil, it is subject to revision within the third year after its issuance. Therefore, it is advisable to visit the country regularly and still meet the requirements to get the renewal successfully approved.
After 4 years holding a permanent visa, a resident may apply for citizenship. Citizenship will be granted if a resident has resided continuously in the country and demonstrate ties with the country, has acceptable Portuguese skills and knowledge of the country’s culture and history. The timing may be shortened if the resident is married with a Brazilian citizen.
Investment
Investor / Entrepreneur Visa
Under the Resolução Normativa no 28, foreign nationals who show proof of financial means and intention to make a direct investment in Brazil may obtain a permanent visa (VIPER).
The Investor Visa requires an investment of a determined amount by the Ministry of Labor. The amount is usually about R$500,000 for an individual investor or about R$600,000 if it is made through a Brazilian legal entity. Investments of R$150,000 in technology or research areas or that hire 10 Brazilian employees may also qualify.
There is no established requirement regarding where the investment should be spent, and it could be in real properties, stocks or setting up a business.
The visa is subject to revision within the third year after its issuance. Visas will be renewed, provided that the foreigner has visited the country at least one time during the first two years and maintains the investment.
The process usually comprises setting up a legal entity (if applicable) in Brazil and a bank account, transfer of the funds and presentation of an investment/business plan to the Ministry of Labor. Once the investment plan is approved, and financial means are proved by a statement issued by the Brazilian Central Bank, you will be eligible for a permanent visa.
Requirements
– Business / Investment Plan
– Authorization of Ministry of Labor and Employment.
– Declaratory registration of Foreign Direct Investment (FDI) in Brazil’s Central Bank or the Exchange Contract issued by the bank of exchange that receives the investment (SISBACEN).
– Receipt of the entry of payment of Income tax for the legal entity’s last year of fiscal operations (if applicable).
– Articles of incorporation of your Brazilian legal entity that received the investment (if applicable).
– Confirmation of the payment of the individual immigration tax.
– Non-criminal record.
– All non-Brazilian documents must be notarized by the competent authorities in their country of origin, and by the respective Brazilian consulate, and then translated by a sworn Brazilian translator in Brazil.
Documents Required
Original Police Clearance Certificate- Original and photocopy of passport
- Curriculum Vitae
- Original or Certified copy of Birth Certificate (if applicable)
- Original or Certified copy of Marriage Certificate (if applicable)
- Professional and academic certificates
- Evidence of Residential Address
- Bank Statement
- Certified copy of Business License or Incorporation documents (if applicable)
- Business Plan
- Two passport-size photos
