Vitem IX Investment Visa Government Source Documents?

@MGMExpat I am located on the island of Itamaracá in Pernambuco, which is a long way from the area you have professed interest in. However I have had an investment visa for 16 years, and I also am well versed in all aspects of the property Golden Visa. If you have no joy in your chosen location, please feel to contact me.

@MGM.. what do you mean by "no joy in your chosen location"?  I ask because I too am looking to understand the investment visa process but not sure if you are offering ifo/guidance or real estate advice.

Sorry,   meant @peter..

06/01/23 @MGM.. what do you mean by "no joy in your chosen location"? I ask because I too am looking to understand the investment visa process but not sure if you are offering ifo/guidance or real estate advice.
-@headshot

@Peter Itamaraca seems obviously to be in the real estate business (he's not the only person here who is), but I've checked out the regulations that he bases his advice on, and that information is legit.  it's not really a "visa" because it's not issued abroad by the Foreign Ministry; it's an Authorization for Residency issued by the  Justice Ministry through the Federal Police to someone already in Brazil on a tourist visa, so it requires some prep work and document gathering prior to arrival to go smoothly.  But it IS a legitimate way to live in Brazil for someone with sufficient capital who wants to invest it in real estate rather than a business through the VITEM IX visa. 

Before following any investment advice from anyone, you should of course do your own due diligence.

@headshot Happy to set the record straight. My wife and I moved to Brazil in 2007 with investor visa status - the Golden Visa option did not exist 16 years ago. The process to obtain our visas was complicated by language and the fact the only attorney versed in immigration we could find was 4-5 hours drive away. This made it a slow and expensive process as we had to pay for all his costs - including return flights for him to come to meetings...

Eventually we tracked down an english speaking attorney locally, who we now recommend to all foreigners moving to, or investing in, this area. The takeaway here is that I strongly recommend that you find experts to advise you that are close to where you want to live. While a process may at first appear simple and quick, here in Brazil it is rarely so and is nearly always hampered by layers of bureaucracy and delays.

Over the past 16 years we have been involved in all aspects of real estate - buying, selling, renting, renovating - and have even constructed a couple of small low-rise luxury beachfront condominiums. We have also helped over 100 foreigners achieve their real estate goals here, and some have obtained permanent visa status.

As far as immigration is concerned, I am not sure we would have gone the investor visa route had the Golden Visa been available to us at the time. The big advantage in NE Brazil is that the minimum amount to qualify for this new visa is R$700,000, whereas it is over 1 million reais in the rest of Brazil.

There are some downsides to the investment visa - you must deposit the minimum sum, employ Brazilians, actually trade the business, have an accountant, will certainly need an attorney at regular intervals, and will most probably end up being taken to a labour tribunal at some point by an ex-employee - to mention just a few... Did I mention the tax system that no Brazilian even appears to understand?

If you want to run a business here then this is a cost you will have to face, but if you might only want residency - now or at some time in the future - then now there is another option

The GV does not require any employees, the investment can be made over time, you can work or not - your choice, you can still open a business (with some the hassle above if you wish!), and you do not need to move here immediately as you do not need to be on the ground running your business investment. For some people this may be the better option.

Foreigners who are not well-versed in Brazil must appreciate that Brazil is larger than the contigious USA and than the EU. So explore the areas you might want to start off in before choosing experts that might feel like they live in another country...!

I’m currently in this process also!

I’m going the Vitem IX investment property route.

As far as other documents, I’ve only found the governments websites also.

The requirements you’ve been looking at was on this website?

https://www.gov.br/mre/pt-br/consulado- … investment

Any updates would be great, because this IS allot of research🥲

Thank you Peter and abt. Yes, I agree with you that finding an english speaking attorney is going to be necessary for me to move forward. I understand the investment route is more difficult, but I do want to start a business, so I'm not too concerned about the additional complexities vs just buying property, (which I still might do instead.)

Regarding the GV taking place over time, I thought that the 1,000,000 R had to be deposited in a bank account and then spent on qualifying properties within a set time frame to qualify for the residency permit?

Thank you for your response. I'm mostly looking at the south because of the milder climate, but am open to other areas and would like to visit the north of the country next time I come.

Antonio, The link you shared says it is "under review" and is not visible so I'm not sure... The normative resolutions are linked to on the embassy websites - they are a few pages each and reference federal legal statutes.  I was hoping to find a brochure or something of the sort  put together by the government explaining what this all means with some real world case studies of the business investment, but haven't located anything like this yet.

@MGMExpat No, you buy the home (or homes), complete the escritura, and then this forms the evidence that you have invested sufficient to qualify for the GV.

@MGMExpat You will also find it very difficult to open a personal bank account without obtaing a permanent visa first...

06/03/23  The normative resolutions are linked to on the embassy websites - they are a few pages each and reference federal legal statutes. I was hoping to find a brochure or something of the sort put together by the government explaining what this all means with some real world case studies of the business investment, but haven't located anything like this yet.
-@MGMExpat

If you find anything like that, please share it here.  It will surprise me, though.  Brazil's attitude toward immigration in most categories seems to be indifference that's benign at best.  The consulates and other government agencies will tell you what the rules are and sometimes answer questions of interpretation, but other than that you're on your own. 

-@MGMExpat

My advice? Hire a professional facilitator that does this for a living, NOT an attorney. I do not believe mine would have any trouble with your issues.

@abthree Sure, I will.

@rraypo I think that makes sense. How do I find one?

@rraypo Maybe I read your post wrong, but are you suggesting that people who want to apply for the business investment visa do NOT use an experienced bilingual business and immigration attorney??? Are you crazy? Perhaps for other types of visa (some of which can actually be done without any outside help), but not this one.

The investment visa is certainly the most complicated of all visas, and there are very specific steps you have to follow that are unique to this visa, or it will not be granted.

In addition you have to find a Brazilian resident to act as administrator for your business until you actually get the visa. This person will have sole access to the minimum R$500,000 of your money that you will have deposited in a bank account in Brazil. This process involves a huge amount of bureaucracy and trust, and not a little risk.

It is vital that the complicated Social Contract for the business is written correctly, and I certainly would not trust this to anyone other than an attorney such as I describe above. At the very least you have legal recourse if things go wrong, and this is not an area where it is possible to save money and try to cut corners.

I speak from great experience - I have personally acted as administrator for 6 different businesses here on the island of Itamaracá, all resulting in successful permanent visas for the investors involved. Never would I have used a "facilitator".

-@Peter Itamaraca

I am stating there are people equally qualified or more so, with more experience than just your average Brazilian attorney.

@rraypo Certainly not when it comes to a business investor visa. Trying to use a 'despachante'  or similar in this case would be a guarantee of failure.

Family reunion and retirement visas are an absolute walk in the park by comparison.

The poster in this case was specifically referring an investor visa, and for him the only option would be a well-recommended, experienced bilingual business and immigration attorney, and he would also need to find a good accountant.

Once he has chosen an area in which he wishes to live and invest, then the priority would to track down the professionals mentioned - not a facilitator nor an average attorney. The easiest way would be to talk to expats who have such an investor visa and follow their recommendations.

-@Peter Itamaraca

You do know that in Brazil, being an attorney is only a bachelor's degree, right? No work experience etc. is even a requirement. A professional facilitator like mine has been in business doing business and corporate work for well over 50 years. Yes, I would certainly trust him with anything you could have.

Gabriel Carvalho has been my attorney in Brazil for the last few years. He has helped me buy property, receive my retirement visa, and purchase a car. he is a principal at his law firm in Belo Horizonte and can help you with the legal issues that you require.

Gabriel Siqueira Eliazar de Carvalho

gabriel@carvalhofurtadoadv.com.br

Carvalho & Furtado Advogados

Rua Antônio de Albuquerque, 271 - 5° andar - Belo Horizonte - MG - 30112-010 – Brasil

Tel. (31) 3311-2783 - Fax (31) 3311-2755

www.carvalhofurtadoadv.com.br

@rraypo You do know that, in Brazil, only an attorney or an accountant can set up a business for an investor visa application?

Only an attorney or an accountant has access to the digital certificate that is needed to access the system online. A facilitator just handles administration, and cannot set up the required business.

I am sure that your facilitator is excellent at what he does for retirement and family reunion visas, but if he can help with an investor visa then he must work for an attorney or an accountant.

If so, why talk to the monkey when you can talk to the organ grinder?

@MGMExpat No, you buy the home (or homes), complete the escritura, and then this forms the evidence that you have invested sufficient to qualify for the GV.
-@Peter Itamaraca

I saw in the requirements, that if you invest $100,000 into Brazil (without opening a business). This is one way of getting residence in the country.

My question is,

Do you have to spend this at one time?

Could I finance these properties to equal $100,000?

@antonioggriffin I was told by my attorney that you do not have to invest at one time. I have invested R$500,000 and could invest another R$500,000 if I want to get a visa based on property. I have also been told that I only have to confirm/prove the purchase when the visa application is to be finalized, which I believe will be two years from filing. I cannot speak to financing.

@antonioggriffin I was told by my attorney that you do not have to invest at one time. I have invested R$500,000 and could invest another R$500,000 if I want to get a visa based on property. I have also been told that I only have to confirm/prove the purchase when the visa application is to be finalized, which I believe will be two years from filing. I cannot speak to financing.
-@alevinthal

I'm concerned with Temporary Visas no longer being available after October, due to rule changes.

I'm guessing even if I start this Investment visa application and don't finalize everything by October, I'll be paying for a Regular visa to get into the country?

@antonioggriffin No, this will not get you residency, and you will not be able to obtain any finance from within Brazil.

@alevinthal If you are talking about the GV away from NE Brazil, then you must invest at least 1 million reais in residencial property before you can make any application for a GV. So you will be on a tourist visa until then, I imagine? The point is you do not have to invest all at once, but can only apply once you have done this.

If so, why talk to the monkey when you can talk to the organ grinder?
-@Peter Itamaraca

You have a horribly wrong idea about professional facilitators, he has attorneys working for him, along with his own accountants, in his office building, not the other way around. He owns the circus your monkey grinders work for

06/05/23 @antonioggriffin
I'm concerned with Temporary Visas no longer being available after October, due to rule changes.
-@antonioggriffin

Don't worry:  tourist visas are still going to be available.  Citizens of the countries that received unilateral waivers from Bolsonaro -- Australia, Canada, Japan, and the US -- will just return to the former practice of having to obtain their visas in advance from the Brazilian Consulate, that's all.  They'll still be 90 day visas that can be renewed at the Polícia Federal for another 90 days.  And if you're already here on a 90-day waiver, you should still be able to renew for another 90 days at the Polícia Federal. 

@antonioggriffin  you do  need a visa after your tourist visa expires. I recommend you go for the easiest.

@antonioggriffin I was told by my attorney that you do not have to invest at one time. I have invested R$500,000 and could invest another R$500,000 if I want to get a visa based on property. I have also been told that I only have to confirm/prove the purchase when the visa application is to be finalized, which I believe will be two years from filing. I cannot speak to financing.
-@alevinthal

RE-read your post and I noticed another issue.

I believe you are thinking that you can invest R$500k now in real estate, then live in Brazil for 2 years before investing another R$500k? This is not true.

You need to invest all 1 million reais, complete the registration process with the notary (title), and then you can apply for the Golden Visa. Perhaps you misunderstood it when your attorney said that the visa (after the full investment) is usually granted for a limited period - 1, 2 or 3 years - and then you have to renew it by proving you still have an investment exceeding the minimum (does not need to be the same original investment, but must exceed the minimum value).

If so, why talk to the monkey when you can talk to the organ grinder?
-@Peter Itamaraca

You have a horribly wrong idea about professional facilitators, he has attorneys working for him, along with his own accountants, in his office building, not the other way around. He owns the circus your monkey grinders work for
-@rraypo

Great - so we are in complete agreement! An investor visa can only be applied for using well-recommended, bilingual and experienced attorneys and accountants. The only difference between us is that I would go direct to these professionals, but you would prefer to pay to go through your facilitator first. Same result in the end....

I know my process has worked many times, I have been persoanlly involved with investor visas many times as you know - all with complete success (which is the aim at the end of the day).

@Peter Itamaraca why talk to the monkey when you can talk to the organ grinder…..love it. Moroccans have a similar funny saying. “show me your ear I ask him and he contorts his arm behind his neck to point to the farthest ear” it’s funnier visually

@Peter Itamaraca no, that is not what I am saying, I am not applying for a investment visa, I have my retirement visa. I was saying that I could apply for an investment visa should I care to. my attorneys observation was that I would not have to buy the property in one purchase. It can be multiple properties that add to to R$1M.

but are you certain of what you say, that you must complete the purchase, makes the application, have it approved contingent on the purchase approval, and then you are able to stay in the country for 1-2 years? Have you gone through this process personally?

@Peter Itamaraca no, that is not what I am saying, I am not applying for a investment visa, I have my retirement visa. I was saying that I could apply for an investment visa should I care to. my attorneys observation was that I would not have to buy the property in one purchase. It can be multiple properties that add to to R$1M.
but are you certain of what you say, that you must complete the purchase, makes the application, have it approved contingent on the purchase approval, and then you are able to stay in the country for 1-2 years? Have you gone through this process personally?
-@alevinthal

OK, to clarify. For the Golden Visa you must invest a total of R$1,000,000 (R$700,000 in NE Brazil) in residential property before you can make any application, but the spend CAN be made over a period of time - over years if you wish - so long as you exceed the minimum requirement.

The important point to remember is that any type of investment visa (GV or business investor visa) is only granted AFTER the investment has been made and proven. You cannot apply for this visa on the grounds that you intend to make the investment, it is contingent on the investment ALREADY having been made.

In the case of the GV, the purchase process must have been completed fully, and then you make the application with escritura(s) in hand as proof of the investment. Then renewals...

Yes, I have been involved in successful GV applications, (for no personal financial gain), although I actually have had a business investor visa for 16 years.

Hope this helps?

-@Peter Itamaraca

Well jolly good for you! LMAO

@Peter Itamaraca 👍

seems easier to just marry a Brazilian lol