Brazil VITEM Investment Visa Information

@Pablo888

Hello, Pablo. You are right, not many people talk about this visa. It has some red tape and some regulation. I believe It should be the first choice for people with at least 700 k reais (north and northeast) or 1 M (the rest of Brazil)

10/30/23 @Pablo888.  If you're planning on investing in urban real estate and have the requisite funds -- R$1million outside the North or Northeast, R$700K in those regions-- you can obtain residency under Normative Regulation No. 36:

https://portaldeimigracao.mj.gov.br/pt/nav-guiada/rn-36

It's not a "visa" properly speaking, and you won't see it on any consulate website, because it's not issued by the Foreign Ministry.  It's an Authorization for Residency issued directly by the Polícia Federal to someone in the country on a visitor visa who meets the requirements.  No business plan or Labor Ministry approval required.

@Peter Itamaraca is an expert with deep knowledge of how this works and how to do it.

@Pablo888

There are 2 very different visas concerning investment: the Investment Visa, and (what is termed) the Golden Visa. Both are completely different and should not be confused.

The Investment Visa is granted to someone who has invested a minimum amount of R$500,000 into a Brazilian business; the investment must be made first by (eg by deposit into the company bank account - although nothing has to be actually purchased at this early stage), the business must genuinely trade, employ Brazilians and will need an accountant and attorney. There will also be a random inspection by the Policia Federal to ensure that the rules have been adhered to (genuinely trading, employing Brazilians, etc), before it is allowed to be renewed and made permanent. (I have one of these.)

The Golden Visa allows the applicant to purchase real estate (but not land) to a minimum value of one million reais (discounted  to R$700k if the investment is located in NE Brazil). Once granted, it is renewable by proof of continued minimum investment in real eastate, although you can sell and buy something else. Much easier to get, and you can work or retire on it.

The Golden Visa allows the applicant to purchase real estate (but not land) to a minimum value of one million reais (discounted  to R$700k if the investment is located in NE Brazil). Once granted, it is renewable by proof of continued minimum investment in real eastate, although you can sell and buy something else. Much easier to get, and you can work or retire on it.
   

    -@Peter Itamaraca

Thank you @Peter Itamaraca.  Yes, I am looking for the easy path.... Do you apply for the visa first and buy the real estate later on?  Is proof of funds in some bank sufficient (as said in the application) in order to apply and get the visa?  The purchase will happen later on as this takes a longer time.

Just don't want to put the cart in front of the horse here...

    The Golden Visa allows the applicant to purchase real estate (but not land) to a minimum value of one million reais (discounted  to R$700k if the investment is located in NE Brazil). Once granted, it is renewable by proof of continued minimum investment in real eastate, although you can sell and buy something else. Much easier to get, and you can work or retire on it.        -@Peter Itamaraca

Thank you @Peter Itamaraca.  Yes, I am looking for the easy path.... Do you apply for the visa first and buy the real estate later on?  Is proof of funds in some bank sufficient (as said in the application) in order to apply and get the visa?  The purchase will happen later on as this takes a longer time.
Just don't want to put the cart in front of the horse here...
   

    -@Pablo888

No, Pablo, you must make the purchase(s) first and then apply for the visa - showing sufficient funds in a bank account will not work.

Not only that, but you must complete all the paperwork and have the real estate completely registered in your name (showing a value in excess of the relevant minimum) at the notary office, as the documents this office supplies is the backbone of your application.

No, Pablo, you must make the purchase(s) first and then apply for the visa - showing sufficient funds in a bank account will not work.

Not only that, but you must complete all the paperwork and have the real estate completely registered in your name (showing a value in excess of the relevant minimum) at the notary office, as the documents this office supplies is the backbone of your application.
   

    -@Peter Itamaraca

Thank you @Peter Itamaraca - the process is much simpler than I thought then. 

I just need to fall in love with a place in Brazil and get my little nest.  The paperwork will follow afterwards.

Interesting to start things in Brazil with consideration of the heart before the head, that will be new for me.

@Peter Itamaraca

Once the investor purchases the real estate in excess of the values required, does the investor simply submit the proof of payment, matricula and estritura (deed) in MigranteWeb to get the investor residence visa?  Are there any other steps needed?

10/30/23    @Peter Itamaraca
Once the investor purchases the real estate in excess of the values required, does the investor simply submit the proof of payment, matricula and estritura (deed) in MigranteWeb to get the investor residence visa?  Are there any other steps needed?
   

    -@sfcastro

According to the Normative Regulation (above) the investor must present those, plus proof from a Brazilian bank that the funds originated overseas, plus the usual documents that the Ministry of Justice requires to grant an Authorization of Residence without a related visa from the Foreign Ministry:

• Current passport
• Original Birth Certificate, with apostille and Sworn Translation
• Criminal Background Check from country/contries of residence for the preceding five years, with apostilles and Sworn Translations
• CPF

Other documents, at the discretion of the Polícia Federal

They generally don't warn you about this, but it is very important that you prove the regular transfer of capital from abroad to Brazil. This is because the investor is just the one who brings money from outside. In other words, taking out a loan for this purpose does not entitle you to a visa.

Exactly correct - in all applications involving large sum investments (either for the investor or golden visa), funds must be sent correctly through the Central Bank of Brazil (not the same as the Bank of Brazil), and must also originate from the applicants own personal bank account abroad. There are exchange companies that assist with this process, that make it much easier.

As with all visa applications, the additional doscumention mentioned by @abthree will also be required.

@sfcastro

There is also no time limit for the application, ie you could have purchased last year and make application next year. But you will also need those documents listed above.

It is a bit of a juggling act to get the timing exactly right and collate all the docs, but it is easy to achieve while on a tourist visa - with the right help and advice...

 
10/31/23 It is a bit of a juggling act to get the timing exactly right and collate all the docs, but it is easy to achieve while on a tourist visa - with the right help and advice...
   

    -@Peter Itamaraca

This is such good advice that I'd send it to every new expat if I could, especially those on a tourist visa who hope to become residents.  Arrive with all your documents in good shape and ready to go, get all the prep work done, and get it all before the Federal Police as soon as you reasonably can.  Save your sightseeing and partying for while you're waiting for your answer.  Ninety days go by faster than you think, you already lose weekends and holidays, and Brazil has a lot of holidays.  "Lack of preparation on your part does not constitute an emergency on mine" is an American expression, but it perfectly expresses a bedrock philosophy of Brazilian officialdom; preparation and a sense of urgency early can keep minor setbacks from becoming major problems. 

Current passport
Original Birth Certificate, with apostille and Sworn Translation
Criminal Background Check from country/contries of residence for the preceding five years, with apostilles and Sworn Translations
CPF

Other documents, at the discretion of the Polícia Federal
   

    -@abthree

Thank you @abthree.  What does CPF mean?  I understand that the title recorded in the Regitro Geral do Imovel is needed.  Is this title document called the CPF?

If CPF is Certificado da Policia Federal, how to get this?

Sorry - unknown acronymn.

10/31/23 @Pablo888.  CPF = Cadastro de Pessoa Física.  It's your unique personal ID number issued by the Receita Federal (RF).  It's a tax ID, but it functions as much more, and is needed to do everything from get a chip for your cellphone to buy property.

You can get one at any RF office, any Correios, or outside Brazil, at any Consulate.  You can also request one online here:

https://servicos.receita.fazenda.gov.br … cricao.asp

    10/31/23 @Pablo888.  CPF = Cadastro de Pessoa Física.  It's your unique personal ID number issued by the Receita Federal (RF).  It's a tax ID, but it functions as much more, and is needed to do everything from get a chip for your cellphone to buy property.
You can get one at any RF office, any Correios, or outside Brazil, at any Consulate.  You can also request one online here:

https://servicos.receita.fazenda.gov.br … cricao.asp-@abthree

@abthree - always very helpful.  Muito obregado.

CPF = SIN for the Canadians posting here

The RF may start looking for Brasilian tax returns if you have an active CPF.

The RF may start looking for Brasilian tax returns if you have an active CPF.
   

    -@Gasparzinho 777

Thank you @Gasparzinho777.... What does RF mean again?  Another acronym.

Oh. Receita Federal... It was defined above.  Please ignore the question.  Thank you.

Another very important point: funds for the Investor Visa cannot be spent on your personal accommodation, unless it is integral to the business (eg owner apartment in a hotel or pousada, rooms in a building above a restaurant you have bought). You cannot buy a house in the company name, live there and run an office-based business from it - effectively WFH.

So, over and above the minimum investment of R$500,000 for the Investor Visa, you also have to have sufficient funds to buy your home (or rent).

However this is allowable with the Golden Visa.

Unfortunately for me the Golden Visa did not exist when I moved here 16 years ago!

A question on the real estate investment visa:

For better or worse, when I purchased property a few years ago, I transferred funds from my bank in the US to a Brazilian bank account i was able to get with Banco BS2 as a non-resident through several Transferwise/Wise transactions. (I read as much as I could on this at the time but didn't see anything specifying a transfer via Banco Central do Brasil.)

Do you think there's any hope for establishing this as a legitimate transfer of funds? Or will I be out of luck?

I'll be able to pursue the retirement visa as a backup, but the real estate investment option seems cleaner/more beneficial at the end of the day.

Thanks!

11/02/23    A question on the real estate investment visa:
For better or worse, when I purchased property a few years ago, I transferred funds from my bank in the US to a Brazilian bank account i was able to get with Banco BS2 as a non-resident through several Transferwise/Wise transactions.  (I read as much as I could on this at the time but didn't see anything specifying a transfer via Banco Central do Brasil.)
Do you think there's any hope for establishing this as a legitimate transfer of funds? Or will I be out of luck?

    -@thetravelfox

Here's the exact language of the regulation, Article 3, I: 

"declaration from a credit institution authorized or registered in the national territory with the Central Bank of Brazil, attesting to the international transfer of capital for the acquisition of real estate in the amount defined in the caput of art. 2"

("declaração de instituição de crédito autorizada ou registrada em território nacional junto ao Banco Central do Brasil, atestando a transferência internacional de capital para a aquisição dos bens imóveis no valor definido no caput do art. 2º)

So the first question would be whether Banco BS2 is qualified to provide this declaration.   If not, the second possibility would be the Braziian bank that stood between Wise and Banco BS2, which could have been Banco Rendimento in São Paulo.  Wise often uses Banco Rendimento as a partner, and they are certainly registered with the Banco Central.   If neither of these pan out, perhaps an attorney could put together a flowchart of the funds that the Polícia Federal would accept as proving that the funds were legitimately yours and originated abroad.

Helpful, thanks abthree!

It was indeed Banco Rendimento for the transfer between Wise and BS2.

And thanks for the quote from the regulation -- I was thinking the declaration would come from Wise, but you're saying from Rendimento and/or BS2 (if qualified), correct?

I'd want to have some comfort that the above path would work, as my purchase was around R$ 800.000 in São Paulo before renovation, so I'd have to up that a bit more in the form of another investment to get to R$ 1.000.000 threshold

@thetravelfox

@abthree is exactly correct in what he says, and also you certainly will not the first do have transferred funds in this way.

If we were talking about the Investor Visa, then I would say that you do not have a chance as the transfer has to specifically state that the funds are for the purpose of making an investment into a business.

However I have worked (indirectly) with Banco Rendimento several times, and they have always provided the documents necessary - so this is a good sign. You will need to provide them with several documents, including the original purchase and sale contract, if you did not do this originally.

My suggestion would be to employ an experienced immigration attorney in your city, and ask him to make application on your behalf. But to start with he should grant you a free meeting and be able to advise further about these transfers - and at least indicate if you should invest further or not.

Remember - it is not the value of the funds that is needs to exceed the minimum, but the value in the escritura - the so called 'declared' value. A lot of foreigners were advised years ago to under-declare values to avoid tax, but this will not work for this visa. Plus, as you say, you will need make another purchase to exceed the minimum for your area.

I have been trying to get my VITEM for a year now. Waiting for the protocol paperwork to take to the Policia de Federal. It is very complicated so I suggest you find a lawyer that specializes in this. The minimum real estate investment is a million. I have two properties, one in ES and one in Rio worth 3 mil and a business that I had to open in my Girlfriends name. YIKES! and the VITEM is still in process. I still can't open a bank account, I could not even transfer money via Western Union to myself without the residency card. Nothing happens fast in Brasil, so I see nuptials in my future since my family support is approaching 2 years and that's a whole other problem in Brasil and subject for a different discussion  here's a place to starthttps://migrante.mj.gov.brBoa sorteMIke

@thetravelfox fyi. I believe you actually have to be a resident for a transfer to legally take place. My Brazilian wife, who seems to know everyone, managed to get me an account at Banco do Brazil. I was wired $10k to the bank, but because I was NOT a Brazilian Permanent Resident etc. yet I could not actually withdraw the money. So just to let you know I already managed to get a Brazilian bank account, but was not able to touch the money sent to me.

Roddie in Retirement

    I have been trying to get my VITEM for a year now. Waiting for the protocol paperwork to take to the Policia de Federal. It is very complicated so I suggest you find a lawyer that specializes in this. The minimum real estate investment is a million. I have two properties, one in ES and one in Rio worth 3 mil and a business that I had to open in my Girlfriends name. YIKES! and the VITEM is still in process. I still can't open a bank account, I could not even transfer money via Western Union to myself without the residency card. Nothing happens fast in Brasil, so I see nuptials in my future since my family support is approaching 2 years and that's a whole other problem in Brasil and subject for a different discussion 
here's a place to start
[link under review]
Boa sorte
MIke
   

    -@MIKE5412

Mike, several things you say ring alarm bells for me.

Firstly you say you want to apply for a VITEM visa, but then you say you have exceeded the minimum investment of 1 million reais. You are confusing 2 very different visas: the Investment Visa and the Golden Visa (which is not included in the VITEM list, as you apply for it from within Brazil). Please read this thread again to see an explanation of them both, and if it is still unclear please ask for further clarification.

I am also very confused by any delay in the process. It is quite straight forward for both these  visas - providing you have met the requirements - and should take any longer than a few weeks. Are you certain you have made application in the correct way, and through an experienced attorney?

If applying for the GV (which you appear to suggest) the application is actually made directly to the Policia Federal, so it does not make sense that you are waiting for a protocol to take to them.

If applying for the Investor Visa, you can make an investment into the company of your girlfriend, (at least R$500,000 directly for your personal account abroad, etc - see above), but property you already own is irrelevant...

Once you have the permanent visa, then you can open a bank account and received transfers...

@roddiesho

Not surprised one bit... but at least they have immigration laws.

@Peter Itamaraca thanks so much.  This is comforting to know that Banco Rendimento should come through in this scenario -- now I just need to weigh the pros/cons of topping up the real estate investment to get above the R$ 1.000.000 for São Paulo to get the real estate investment based visa vs. just going the retirement route.

On the surface from reading here, it seems like the pros of the real estate investment based visa vs. retirement visa are 1) longer term initial visa (five vs one or two years?), 2) clearer path to permanent residency, and 3) option of working in Brasil (not really in my plan, but good to have).  I welcome your feedback / better interpretation of the two paths.

@roddiesho that normally seems to be the case, but somehow I was able to have a handler set up with an account with Banco BS2 a few years back that I was able to use for the purchase and am also able to use to pay boletos, etc.  It's a quirky legacy account that I can't use for pix, etc. but recently set up iti for that purpose as no residency is required, just a CPF.

   
On the surface from reading here, it seems like the pros of the real estate investment based visa vs. retirement visa are 1) longer term initial visa (five vs one or two years?), 2) clearer path to permanent residency, and 3) option of working in Brasil (not really in my plan, but good to have).  I welcome your feedback / better interpretation of the two paths.
   

    -@thetravelfox

I would not rely on your point 1) above as a basis for deciding on which of the 2 visas to go for. It seems to me that Policia Federal offices in every state have somewhat differing rules and a degree of flexibility in interpreting the law when deciding how long to initially grant visas.

It may be down to your immigration attorney's contacts, local expertise, how many visas they have issued, and the strength of each individual application. I have known both be granted for 1 year initially, then 2 years, and also 5 years.

But I would certainly seek out an experienced innigration attorney, whichever course you take.

@thetravelfox

It is a happy coincidence that you asked about visas, years, renewals, etc as the following has just been announced in an updated resolution:

In future, all Golden Visas will be granted for an initial period of 4 years, after which they can be made "indeterminado"  - effectively permanent.

All Retirement Visas will be granted for an initial period of 2 years, then "indeterminado".

Investor Visas remain as they were (3 years), as do Digital Nomad Visas (1 year, renewable annually)

Of course, each PF office may vary from this, as they see fit...

   11/07/23  I have been trying to get my VITEM for a year now. Waiting for the protocol paperwork to take to the Policia de Federal. It is very complicated so I suggest you find a lawyer that specializes in this. The minimum real estate investment is a million. I have two properties, one in ES and one in Rio worth 3 mil and a business that I had to open in my Girlfriends name. YIKES! and the VITEM is still in process. I still can't open a bank account, I could not even transfer money via Western Union to myself without the residency card. Nothing happens fast in Brasil, so I see nuptials in my future since my family support is approaching 2 years and that's a whole other problem in Brasil and subject for a different discussion 
   

    -@MIKE5412

The same alarms went off for me that went off for Peter Itamaraca.  If you're interested in a pure real estate play, you'd probably be better off getting a lawyer and taking the "golden visa" route through the Polícia Federal as he suggests.  The way things have shaken out, it's just so much easier.

It sounds like you were trying to apply for a VITEM IX visa, and probably got caught in a Brazilian government snafu not of your making.  The VITEM IX as originally projected in the 2017 Law of Migration was primarily intended for investment in businesses that would create jobs in Brazil (although it also included real estate investment), and prior approval was required from the Ministry of Labor.  That made a kind of sense because of the job creation aspect, although how the pre-approval process and then routing back to the Consulate was supposed to work was never clear.  Neither was the relevance to real estate investment, which was probably why that was effectively broken out in the "golden visa" process.  Then incredibly, Bolsonaro abolished the Ministry of Labor!  Some of its functions were taken over by the Ministry if the Economy, but apparently the function of approving VITEM IX investments was transferred to the Polícia Federal, where labor analysis is certainly not a core competency.  Now there's a Labor Ministry again, but it's still unclear how a VITEM IX project gets approved.

If you want to have Brazilian employees, you may have to stick with the VITEM IX process, broken and dysfunctional as it apparently is.  Otherwise, see whether you can satisfy the "golden visa" requirements.

11/07/23    @Peter Itamaraca On the surface from reading here, it seems like the pros of the real estate investment based visa vs. retirement visa are 1) longer term initial visa (five vs one or two years?), 2) clearer path to permanent residency, and 3) option of working in Brasil (not really in my plan, but good to have).  I welcome your feedback / better interpretation of the two paths.
   

    -@thetravelfox

The current Retirement Visa is not a continuation of the Retirement Visa that existed under the old law, but an entirely new visa that no longer includes the limitation on working or the age requirement.  Nevertheless, it is a less generous visa overall, and if you can qualify for residency based on a real estate investment, that will be more advantageous.

@thetravelfox Ok, but were you able to get the money. I have an account, I can see the money, the money just can't be withdrawn until I get my residency.

Roddie in Retirement

  I have an account, I can see the money, the money just can't be withdrawn until I get my residency.
Roddie in Retirement-@roddiesho

@roddiesho, I apologize but the linear thinker in me is confused..... I thought that for resident visa based on real estate the process is: a) have money in foreign bank, b) transfer the money to bank that is affiliated with Banco Central do Brazil, c) make real estate purchase, and d) apply for change of visa from visitor to permanent resident.

How can i make the purchase if I cannot withdraw money on a visitor visa?

Sorry for the confusion....

11/08/23@roddiesho, I apologize but the linear thinker in me is confused..... I thought that for resident visa based on real estate the process is: a) have money in foreign bank, b) transfer the money to bank that is affiliated with Banco Central do Brazil, c) make real estate purchase, and d) apply for change of visa from visitor to permanent resident.
How can i make the purchase if I cannot withdraw money on a visitor visa?
Sorry for the confusion....
   -@Pablo888

Roddie is trying to obtain his authorization for residency through reunão familiar, and has run into an unlucky series of very unusual problems regarding documentation. 

You can have the funds transferred to your attorney, or even directly to the seller with some formalities, but not many difficulties.  Once your title is complete and registered, you'll be able to apply to the Polícia Federal for your "golden visa".

If you follow @Peter Itamaraca's advice to keep the various steps of your process moving forward in sync, and have your documents correct, complete, and ready to present at all times, with some effort everything should turn out ok for you.

I thought that for resident visa based on real estate the process is: a) have money in foreign bank, b) transfer the money to bank that is affiliated with Banco Central do Brazil, c) make real estate purchase, and d) apply for change of visa from visitor to permanent resident.
How can i make the purchase if I cannot withdraw money on a visitor visa?

Sorry for the confusion....
   

    -@Pablo888

The process is similar to what you have outlined, but you are missing one party in the concept - the seller.

So, typically (but not always), a) have money in foreign bank, b) transfer funds through Central Bank of Brazil to sellers bank account in accordance with the Sales Contract as agreed with the seller, c) receive the property and transfer into new owner's name, d) apply for Golden Visa with full documentation completed, e) with permanent visa granted, open bank account in buyer's name.

@Peter Itamaraca

there's also an investor visa with an investment of 600,000 reais that enables the business to sponsor one foreign manager for a visa.

Can you comment on that process? It seems no business plan is needed nor do you need to hire people.