Having one of the strongest economies in Latin America, Brazil is seen as a country in which it is possible (and viable) to make investments. By presenting a favorable market to set up businesses, the South American country receives many foreigners, who decide to establish legal residence in Brazil.
Thus, foreigners who plan to establish legal residence in Brazil can use some official means to do so. The easiest way is certainly with the opening of a company in Brazilian territory.
The second way to obtain legal residency requires the acquisition of a job vacancy in a Brazilian company. In addition, there are other ways for a foreigner to have a legal residence in Brazil, including marriage with a native.
In this article by Europartner, an accounting firm in Brazil, we will comment in detail on each of the alternatives mentioned above. Check it out!
Profile of foreigners eligible to have legal residency in Brazil
Foreigners, investors or not, who think of maintaining a permanent residency in Brazil can qualify in a number of ways. There are some profiles that can achieve the goal more easily, for example:
- Individuals who invest R$ 150 thousand (minimum) in a Brazilian company or property;
- Professionals who hold the position of administrator, manager or director of a company operating in Brazil;
- Foreigners legally married to native Brazilians;
- Foreigners who have a Brazilian citizen child;
- Scientific specialists, high-level researchers, professionals specialized in a particular field of knowledge;
- Retirees who demonstrate minimum income may qualify
- Foreign residents in Brazil can apply for family reunification.
In addition, former residents who have lost their right to residency (because they have been out of the country for two years or more) can also apply for permanent residency again.
Conditions to apply for permanent residency through Investments made in Brazil
The opening of companies in Brazil is currently the most viable measure for a foreigner to be able to reside in the country permanently. However, there are some rules for the business to be constituted legally.
First, it is necessary for individuals to invest an amount of at least R$ 150 thousand at the opening of a company. This same amount is required in the purchase of Brazilian property, which also qualifies the foreigner for fixed residence in Brazil.
However, the residency must be renewed every three years. Likewise, it is required that the individual proves the regular situation of the company and the generation of local jobs.
Administrator or manager of a start-up company
If the foreigner is an administrator or manager of a start-up, he may also be eligible to have a permanent residence in Brazil. A startup is, in short, a foreign company that has been operating in another country for at least five years.
The power of attorney is granted to the legal representatives in Brazil for the incorporation of the company.
Administrator or a limited company administrator
Brazilian companies may hire managers, directors or foreign administrators. But for that, proof of investment in the order of US$ 200,000 per candidate is essential.
Another important factor is that it is necessary to declare the technical and social benefits of hiring each candidate, so that this justifies the hiring of foreigners instead of Brazilian specialists.
In addition, individuals will need to take fingerprints and thumbprints. In some cases, documents other than those indicated below will be required.
Required documents
Applicants for residency in Brazil must present the following documents: a valid passport, 3×4 photos and pay a small administration fee. Birth certificates must be authenticated at a local consulate or embassy and translated into Portuguese – by a sworn translator in Brazil.
Criminal verification by the Brazilian police is also required in all countries where the applicant has lived in the last five years. This record must also be translated by a sworn translator in Brazil.
It should be noted that the candidate must present original or certified copies. Some documents, such as driver’s licenses, need to be translated by a sworn translator (if they are in a language other than Portuguese).
Conclusion
To establish residency in Brazil through the incorporation of a company in the country, seek the guidance of accounting specialists. Europartner can assist in the process of starting a company and with other legal issues. Then contact our specialist!
