Brazilian Economic Citizenship Program
How to get a Brazilian citizenship with a small real estate investment
Godoi Consulting is offering fully comprehensive services which allow customers to participate in one of the worlds most progressive and open Citizenship Programs. Some people consider it one of the best countries to retire in. Have you ever wondered how a Brazilian Citizenship can be obtained? It’s very simple and, due to changes in the Brazilian Constitution in 1994, migrants are now allowed to retain their Brazilian nationality and have dual nationality. The process of applying for a Brazilian citizenship is run by the Ministry of Justice (Ministério da Justiça). The Brazilian Investment Visa and Citizenship Program allows clients to invest in Brazil’s rapidly growing Real Estate market and grants access into one of the worlds most exciting Business Hubs for the next 20 years. The Brazilian economy and infrastructure are set for major investment over the next 5 years due to the 2014 Football World Cup and 2016 Olympics. This will allow Brazil to propel itself into the forefront of the business world. Brazil is one of the fastest growing economies in the world and currently has an average annual GDP (gross domestic product) growth rate of 5%, which is not showing any signs of slowing. Brazil is the largest country in South America. It is the world’s fifth largest country, both by geographical area and by population, with over 192 million people. The Brazilian economy is the world’s sixth largest by nominal GDP and the seventh largest by purchasing power parity (as of 2011). Brazil is one of the world’s fastest growing major economies. Economic reforms have given the country new international recognition. The Brazilian Investment Visa and Citizenship Program was created by Brazil’s National Immigration Council Resolution, known as RN 60/04. This was later replaced in February 2009 by the RN 84/09, with the intention to increase foreign investments in Brazil by giving, in exchange, direct legal residency to any foreign Investor who brings no less than USD$ 75,000. A Resident Investor has almost all of the rights of a Brazilian Citizen with a few exceptions. For instance, the investor cannot vote or get politically involved. If the applicant chooses to become a citizen they may apply for citizenship after 2 to 4 years of residency in the country. A Resident Investor is eligible to apply for naturalization after a period of 2 years if, in Brazil, they own a property whose value is equal to at least a thousand times the Greatest Reference Value, or they are in possession of industrial funds of equal value, or they hold shares of equal value in commercial or civil society. How It Works In short, after the initial steps and registrations, the foreign individual must transfer at least US$ 75,000 from their bank account abroad which shall be integrated to an existing corporation/business and deposited into its corporate bank account. Once that is done, a certificate is issued by the “Banco Central” qualifying the foreigner as a Foreign Investor. With that, he or she is able to apply for the Investment Visa Program from the “Ministerio do Trabalho e Emprego”. There are two options when deciding how to invest in Brazil via the Brazilian Investment Visa and Citizenship Program: The first is to invest the sum of US$100,000 (one hundred thousand US dollars) in Brazilian real estate. The investors can choose their own investment. They can buy an apartment or any other real estate property and the property will be registered in the investor’s name. The second option is to invest a minimum amount of US$ 75,000 (seventy five thousand US dollars) into existing business activities in Brazil where there are at least 10 Brazilian workers. Again, the investors are free to decide on the investment. It could be a small business, such as a restaurant, retail store, hair salon, a shop or a small factory. To start the process, we open a corporation and, subsequently, a bank account for the investor in Brazil (in their name as sole owner). After the Corporation and bank account with Brazil Central Bank (Banco Central do Brasil) is set up; the investors must transfer the minimum amount of US$ 75,000 or US$ 100,000 from their account abroad to the new corporate account. The money transferred by the investor to Brazil remains and stays under their control at all times. Once the money has been transferred, the Brazil Central Bank will issue a certificate. With this certificate, we apply for the investor’s visa in Brazil, to be approved, issued and sent to any Brazilian Consulate abroad, as per your request, so your passport can be stamped. Our consultants in Brazil will meet and assist the investors through the entire process, from choosing the best investment, to preparing all documents from start to finish until you receive your residency certificate and all legal documents. The investors are required to be in Brazil for 2 – 4 weeks for processing. Our consultants will meet the investor at the International Airport in Brazil and act as concierge, arranging transfers, meetings and relevant information. After 2 – 4 years (again the process can be shortened to 2 years according to the amount invested or property price), the investor and their family can apply for Brazilian citizenship and passport/s. In addition, the investors do NOT have to remain in Brazil during their residency. They can visit for as little as a few days every two years. Facts 1. A permanent visa, such as the investment visa, permits a foreigner to live and work in Brazil. An official Brazilian resident alien with a permanent visa enjoys every right and obligation of a Brazilian citizen, except voting and political rights. 2. The resident alien is also allowed to bring his or her family and come and go as he or she wishes. A minimum stay period in Brazil is one entrance every 2 years, in order to maintain his or her residency status before the Brazilian authorities. 3. The investment and transferring of funds must be made into a Brazilian Corporation. It can be made into his or her newly opened company accounts or into an already existing Brazilian corporation. 4. The corporation can then choose to invest into sectors such as real estate, bank investments, stocks, etc. You can choose your own investment, but it must be done in the name of your corporation. Most foreigners, usually those who are already purchasing real estate, take advantage of Brazil’s property market. However, investors can also invest in stocks and savings accounts, in which interest rates and dividends are much higher than those in their native countries. 5. Amounts previously transferred to Brazil by a foreigner to a Brazilian individual, for any reason, do not fulfill the requirements of this visa. 6. In exceptional circumstances when an investor has less than USD$ 100,000, the investor must first produce and file a business plan which must then be approved by an Immigration Board. These exceptional circumstances render employment requirements within the corporation. 7. This type of permanent visa is valid for 5 years, after which the foreign resident must show proof that the corporation is in good standing and that money has not been taken back to the country of origin. After the first period of 5 years and one renewal, money can be taken back. Following this, there will be no requirements for the subsequent renewal, which will be valid for 9 years and may be renewed as many times as the resident alien wishes. 8. Resident aliens may apply for Brazilian Citizenship throughout this visa after 2 to 4 years of official legal residency in Brazil. Myths 1. There are employment requirements: FALSE. There are no employment restrictions when a foreign investor is bringing/transferring USD$100,000 or more. 2. Amounts that were already transferred to Brazil may qualify: FALSE. Any foreigner individual that did not follow all protocol and prior registrations of the Visa Program will not fulfill the Program’s requirements. 3. Invested money can never be repatriated: FALSE. It must remain in the country for at least 5 years and one visa renewal, after that it can be sent back. Only the dividends may be sent home to the country of origin at any given time. 4. The corporation may be closed when the visa is granted: FALSE. It must be kept open and in good standing before all governmental authorities, including the Tax Authorities, for at least 5 years. 5. You need a Brazilian partner/share holder: FALSE. The corporation can be wholly owned by foreign individuals and/or foreign corporations. Only the administrator must be a resident in Brazil. Reasons for applying for the Brazilian Economic Citizenship Program: 1. The ability for the applicant to work in their own business. 2. Minimum amount of residence time per year. 3. Includes entire family (spouse and children up to 18 years). 4. Brazilian Citizenship and Passport possible after just 2 – 4 years. 5. Favorable Tax and Extradition laws. 6. No personal appearance in Brazil is required for processing. You will pick up the Permanent Visa at the Brazilian embassy or consulate in your home country and then you will enter Brazil with the “Resident Investor Status”. 7. It is valid for 5 years and takes 60 days for a permanent visa to be issued. 8. You do NOT have to remain in Brazil during your residency. You can visit for as little as a few days every 18 months. 9. If you are single, a Brazilian Citizenship and Passport is possible after only one year of marriage to a Brazilian citizen. 10. A Resident Investor has almost all the rights of a Brazilian Citizen except political rights. You cannot vote or become politically involved. Our services include: 01-Assistance in finding you the best investment. 02-Help in the decision-making process. 03-Preparation and submission of all documents necessary for your investment and Citizenship application. 04-Preparation of documents to be sent to Brazil and a member of our team to meet you in Brazil to further assist with the process. 05-Legal representation in Brazil throughout the whole process Our fees are: For those who require further information we charge a US $200 consultation fee.*** ***This fee is put towards your investment, but is non refundable under any circumstance. Your investment covers the applicant, spouse and children under the age of 18 (or under the age of 21 if they are still in full-time education.