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Foreigners who wish to reside in Brazil in order
to start an economical activity (company) may be granted a permanent visa by
proving investment of foreign funds. While Brazil is recognized as an excellent
business opportunity with over 170 million consumers, many companies are
deterred by the language and perceived cultural differences.
There are indeed some obstacles to doing
business in Brazil, but the barriers faced by foreign companies are not much
different to those faced by domestic companies and are not a real deterrent to
doing business.
A foreigner who intends to remain permanently
in Brazil and will invest foreign funds in productive activities, so absorbing
or training specialized labor.
This category was planned for those foreigners
who wish to invest funds (minimum of US$ 50,000) in any kind of productive
activity in Brazil. This kind of permanent visa is issued conditionally for five
years.
Before this period ends, the foreigner must
show to the Federal Police that he accomplished with his plan of absorption of
Brazilian employees and his investment plan so his visa can be re-validated.
This investment has to be made in a Brazilian company and the funds can be used
in the acquisition of real estate and other goods for the company.
The procedural steps are as follows:
1 - Identify Brazilian resident partner to
represent you;
2 - Incorporate company (this takes 45-75 days
in Rio de Janeiro ). The company is a "Limitada". It is a personal corporate
vehicle and is a hybrid between a partnership and a closed limited company;
3 - Obtain CNPJ - Corporate tax registration;
4 - Register the company with the Central Bank
for foreign exchange;
5 - Open bank account for company;
6 - Transfer investment of US$ 50,000
minimum;
7 - Process permanent Visa, which will be valid
for five years. After the five-year period, the Federal Police will
investigate to see that you have complied with the requirements one of which is
to have generated 10 jobs for Brazilians.
8 - Obtain RNE - Brazilian foreigners ID card;
Source: Alessandro Jacob is a
member of the Rio de Janeiro section of the OAB (Brazilian Bar Association). He
speaks Portuguese, English, French and Spanish.
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