The first option, which we will refer to as âOption 1,â allows the foreign investor to obtain a permanent visa by investing US$50,000 or more in Brazil in a new or existing Brazilian company.
The second option, which we will refer to as âOption 2,â permits the foreign individual to invest less than US$50,000 and to submit a plan to create at least ten new jobs in the next five years.
In either case, the funds must be invested into a newly formed or an existing Brazilian company and employed in what the resolution describes as âproductive activitiesâ in Brazil.
While it is referred to in the resolution as a âpermanent visa,â it is something less than permanent. In fact, this permanent visa expires after five years. At the end of five years the law allows the investor to renew the visa by demonstrating that he or she continues to be an investor in Brazil and presenting documentation in connection therewith. Given that it has been less than five years since this resolution was enacted, the process by which such renewal will be granted is not yet clear. But, since the sole requirement with respect to the use of the invested funds is that they be deployed toward productive activities in Brazil, it is reasonable to anticipate that the investment must remain in Brazil and be used in connection with an activity which would be deemed to be productive, such as opening a new business, investing in an existing business or purchasing real estate.
With respect to Option 2, itâs also reasonable to anticipate that at the end of five years the investor will need to have created at least ten jobs in Brazil as specified in his or her investment plan.