Brazil’s
National Immigration Council (“NIC”)
issued Resolution 60/04 on
October 6, 2004,
which supersedes Resolution 28 of
November 25, 1998,
with respect to the issuance of permanent
visas to alien investors in Brazil.
Under this new Resolution, a permanent visa allows a foreigner to
live and work in
Brazil
with the purpose of investing his or her own
foreign funds in productive activities or
investing in existing activities in Brazil.
Under the new rules provided for by the 2004 Resolution, a
permanent visa can be obtained by a foreigner
when the following conditions are
met:
• a minimum investment of $ 50,000, from
individual resources in productive
activities;
• the investment can be made in a new
company or in an already existing business;
• on an exceptional basis, the NIC may issue
the permanent visa if the foreigner proves
that his or her investment will create at
least 10 new jobs in Brazil over five years,
in cases where the investment is lower than
the $ 50,000.
Another important point is that the new Resolution has increased
the term of the visa from a two-year period to
a five-year period.
This new Resolution will facilitate investment in
Brazil for small entrepreneurs.
Please
click here to see the text of Resolution
60 (In Portuguese).