domingo, dezembro 30, 2018

Resident visa in Brazil by acquisition of real estate

Acquisition of real estate in Brazil by non-resident individuals is now an alternative for obtaining a resident visa status.

This permission is regulated by the Normative Resolution No. 36 published on November 21, 2018, by the Brazilian Immigration Council.

The application for residence authorization must be presented prior the issuance of temporary visa, for individuals not yet in Brazil, and locally for immigrant investors who already are in Brazil.

Non-resident individuals may invest in Brazil but may not hold any managerial or administration posts in their local companies. A resident status is therefore mandatory to overcome such legal restrictions.

As a consequence of this new ruling, real estate investment in Brazil turns out to be a new way to do business therein as a resident invidual.

The Normative Resolution establishes the requirements for obtaining the resident visa.