The Brazilian Ministry of Labor introduced new regulations for obtaining residence permits for foreigners through updated immigration legislation, effective since late 2017. Under these rules, individuals from abroad who invest a minimum of 1 million Brazilian reals (BRL), roughly equivalent to $200,000 depending on exchange rates, in Brazilian real estate are eligible for residency in the country.
Furthermore, there’s a potential discount of 30 percent available: by investing in real estate in the north and northeast regions of Brazil, the minimum required investment amount is reduced to 700,000 Brazilian reals. However, it’s important to note that while this option may offer financial benefits, safety considerations favor living in the southern regions of the country, such as the state of Santa Catarina.
When pursuing investments in urban real estate to qualify for a Brazilian “golden visa,” foreigners must initially reside in Brazil for 30 days. Following this period, they become eligible to obtain a temporary residence permit valid for four years, with the requirement of entering Brazil for a period of 14 days once every two years. If, at the end of this timeframe, the property remains owned by the foreigner and is well-maintained, the temporary residence can transition to permanent residency (PR).
After spending four years as a Brazilian resident, foreign investors become eligible for naturalization, granting them the opportunity to acquire a Brazilian passport. This measure aims to incentivize foreign investment and stimulate growth in the Brazilian real estate and construction sectors.
The program underscores Brazilian authorities’ commitment to simplifying immigration processes to attract investment and facilitate residency for individuals seeking to live in the country.