Visa for Brazil

OBTAINING A VISA FOR BRAZIL, WORK PERMIT OR PERMANENT VISA

1.1 Foreign individual investors can obtain a work permit/permanent visa for residing in Brazil:

(i) if he/she invests R$500,000.00 (five hundred thousand reais) in the company in which the investment is made; or

(ii) in the event he/she invests less than R$500,000.00 (five hundred thousand reais) in the company in which the investment is made, the Brazilian immigration authorities may, exceptionally, grant the investor a work permit/permanent visa if the company and the investment satisfy certain requirements. Such requirements include:

(a) submitting a business plan to such authorities contemplating the number of Brazilian employees to be hired every year;

(b) indicating the level of investment to be made and the Brazilian region where the same will be applied;

(c) the economic sector involved; and

(d) the contribution to increasing productivity and assimilation of technology.

1.2 Further, as previously mentioned, director(s) of Brazilian-incorporated companies must be resident in Brazil and may be either Brazilian or foreigner(s) (holding a work permit/permanent visa). A work permit/permanent visa may be obtained in the latter situation if:

(i) the foreign quotaholder/shareholder effects a minimum investment of R$600,000.00 (six hundred thousand reais) in its Brazilian subsidiary;

(ii) the foreign quotaholder/shareholder invests R$150,000.00 (one hundred and fifty thousand reais) in its Brazilian subsidiary, which such Brazilian subsidiary must undertake to hire at least 10 employees within two years of its incorporation or arrival of the foreign Director holding the work permit/permanent visa; or

1.3 If the foreigner is a national of a Mercosul Member State except Venezuela (Argentina, Paraguay, Uruguay) or of an Associated State (Bolivia, Colombia, Chile, Ecuador and Peru), he/she may obtain a two-year temporary visa which, exceptionally, will fulfill the residence requirement for director(s) of Brazilian-incorporated companies. In this case, there is no minimum capital requirement.