Brazil’s National Immigration Council (“NIC”)
issued Resolution 84/09 on
February 10, 2009,
which supersedes Resolution 60 of
October 6, 2004, 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 2009
Resolution, a permanent visa can be obtained
by a foreigner when the following conditions
are met:
• a minimum investment of R$150,000
(Brazilian Reais), 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, in case the
investment is lower than the R$150,000, the
NIC may issue the permanent visa, taking in
account the number of jobs created,
the economic sector, the location and
production/technology contribution that the
investment will provide, as it is stated in
article 3, items I through IV.
Another important point is that the new
Resolution has decreased the term of the
permanent resident card (CIE - Cédula de
Identidade do Estrangeiro) from a five-year
period to a three-year period, renewable if
the alien resident continues to invest.
Please
click here to see the text of Resolution
84 (in Portuguese).
In June 10th,
2009, the National Immigration Council issued
the Administrative Order no 1/09,
which defines the procedure for analyzing the
investor's business plan based on the
Resolution no 84/2009.
Click here to read the Administrative
Order no 1/09 (in Portuguese).
