Brazil VITEM Investment Visa Information

        @Peter Itamaracathere’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.        -@guerneca

All investor visas actually work in this manner - the company (in the case of a business investment) makes application once the substantial investment has been made into the company on behalf of the application. At higher levels of investment (over 500k reais) there is no need for a specific business plan nor a minimum number of employees. However, the company really must trade, and the Federal Police will make random inspections at the business premises - this is not a "backdoor" visa.

    -@Peter Itamaraca

@Peter Itamaraca

If the stated purpose of the business is to make investments, is it not sufficient for it to invest in some stocks and/or CDBs? When you say it must trade, what does that really mean? Regarding the business premises, can that not simply be someone's home office?

I wonder what they would consider a backdoor because there is no business plan they are signing off on, nor are they mandating you hire any number of employees nor mandating the business engage in any specific type of activity. So what would the PF be checking exactly?

If the stated purpose of the business is to make investments, is it not sufficient for it to invest in some stocks and/or CDBs? When you say it must trade, what does that really mean? Regarding the business premises, can that not simply be someone's home office?
I wonder what they would consider a backdoor because there is no business plan they are signing off on, nor are they mandating you hire any number of employees nor mandating the business engage in any specific type of activity. So what would the PF be checking exactly?
   

    -@guerneca

It is important to understand that the majority of visas are not granted for the benefit of the applicant - normally they are for the benefit of a Brazilian citizen, company or the country as a whole, whilst also protecting the country and its citizens from  "unwanted" guests. For example a family reunion visa is not for the benefit of the foreign applicant, but for the Brazilian spouse; a tourist visa has rules so that the country may separate you from your money, and you have enough of it, but ensure you will leave afterwards.

Likewise the investor visas - the sole purpose of which is to create employment and wealth for Brazilian citizens. If you invest a minimal amount, you must present a business plan and guarantee a minimum number of jobs to be accepted. If you invest a larger sum, then this is not an initial requirement, but it is a condition before the visa will be considered for renewal.

So, the Federal Police will visit your office premises (which cannot be a home office unless the home is an intrinsic part of the business, like a restaurant, pousada or hotel), and ask to see your employment records for Brazilian citizens. It may be enough initially to simply invest, but then the company must trade (buy, sell, make profit, pay taxes, employ Brazilians, retain an accountant, an attorney, etc).  So, no, you cannot just dump the money in a bank account, as how would this substantially benefit Brazilians and Brazil?

The only way round this is to invest in the Golden Visa, as I mentioned before...

So, the Federal Police will visit your office premises (which cannot be a home office unless the home is an intrinsic part of the business, like a restaurant, pousada or hotel), and ask to see your employment records for Brazilian citizens. It may be enough initially to simply invest, but then the company must trade (buy, sell, make profit, pay taxes, employ Brazilians, retain an accountant, an attorney, etc).  So, no, you cannot just dump the money in a bank account, as how would this substantially benefit Brazilians and Brazil?The only way round this is to invest in the Golden Visa, as I mentioned before...        -@Peter Itamaraca

If you take the case of a business formed for the purpose of making investments, it would in fact be buying stocks, and CDBs, those would make a profit (dividends, interest), taxes would be paid on that, and the company would hire an accountant for tax returns. Moreover, this money is going into the Brazilian economy and helping enrich Brazil that way. Even if the money is simply placed into a bank account, it benefits the bank which earns money by lending it out at a higher rate than it pays, and that in turn contributes to the Brazilian economy.

How can they require you to employ Brazilians when this is explicitly not a part of the requirements when you bring in 600,000 reais? And how can they require you to have a commercial office, if the business activity doesn't warrant such a premises? In fact many types of businesses, such as accountants, lawyers, designers, IT professionals, writers, paralegals, and countless others can very easily run from a home office as they are often sole proprietors. So how does it make any sense to require a commercial office space being rented?

All speculation aside are there any cases you are aware where someone invested 600,000 and the PF came around and took adverse action against them because there was no commercial office space or because they didn't employ a certain number of Brazilians? The adverse action could be anything from canceling the permanent visa to denying their citizenship application or similar. I'd be interested in knowing about that. It would be really surprising to me because none of these things are mentioned anywhere as actual requirements for such a business wishing to sponsor a foreign administrator.

   03/05/24 @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.   

    -@guerneca

As far as I know -- and it's pretty much my business to know -- everything that @Peter_Itamaraca has told you about investment visas is correct as of today's date.  And I've just spent an hour researching the subject independently, and I can't find anything that supports the existence of the type of visa that you believe does exist. 

So, let's get back to basics.  Can you give us a link to an authoritative document anywhere that describes a non-real estate related investment visa that doesn't require a business plan and a commitment to create jobs for Brazilians?  If we can see what you're looking at, maybe we can all get on the same page.

       03/05/24 @Peter Itamaracathere’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.        -@guerneca

As far as I know -- and it's pretty much my business to know -- everything that @Peter_Itamaraca has told you about investment visas is correct as of today's date.  And I've just spent an hour researching the subject independently, and I can't find anything that supports the existence of the type of visa that you believe does exist. 

So, let's get back to basics.  Can you give us a link to an authoritative document anywhere that describes a non-real estate related investment visa that doesn't require a business plan and a commitment to create jobs for Brazilians?  If we can see what you're looking at, maybe we can all get on the same page.
   

    -@abthree

You are right that there's little information easily searchable about this visa.

The law is RN 11 and explained here: https://portaldeimigracao.mj.gov.br/ima … 1_2017.pdf

I know two people who say they have obtained visa and citizenship this way. Of course I haven't seen any of their paperwork so I can't be 100% certain.

I'm hoping to consult with a couple of well known firms soon to hear what they tell me.

03/05/24 @gureneca.  I see where you're coming from.  But it's not a good idea to read any Brazilian regulation in isolation, unless the black letter text instructs you to.  In this case, you need to pay attention to Article 2, section IV:

"Outros documentos previstos na Resolução Normativa no. 01/2017 do Conselho Nacional de Imigração"

If you go to that RN and drill down through the links in it, you'll find that the requirements that Peter cites still seem to apply.  A good lawyer may be able to find a way for you through that thicket, but I'd be surprised to see a non-resident expat manage it alone.

I'm signing off, because I have a plane to catch in the morning and will be flying all day.  I'll look in to see what's happening when I get home.

@abthree I'm definitely not trying to manage it alone. My aim here is to ask other people who might have applied using this investor visa and specifically the 600,000 reais investment and understand how it went for them.

Does the other RN mention a requirement to have a physical office or employ any number of Brazilians? I can't seem to find that. All I am finding there are general requirements for applying for residency.

Have a good flight and let me know what more you dig up!

If you take the case of a business formed for the purpose of making investments, it would in fact be buying stocks, and CDBs, those would make a profit (dividends, interest), taxes would be paid on that, and the company would hire an accountant for tax returns. Moreover, this money is going into the Brazilian economy and helping enrich Brazil that way. Even if the money is simply placed into a bank account, it benefits the bank which earns money by lending it out at a higher rate than it pays, and that in turn contributes to the Brazilian economy.

How can they require you to employ Brazilians when this is explicitly not a part of the requirements when you bring in 600,000 reais? And how can they require you to have a commercial office, if the business activity doesn't warrant such a premises? In fact many types of businesses, such as accountants, lawyers, designers, IT professionals, writers, paralegals, and countless others can very easily run from a home office as they are often sole proprietors. So how does it make any sense to require a commercial office space being rented?

All speculation aside are there any cases you are aware where someone invested 600,000 and the PF came around and took adverse action against them because there was no commercial office space or because they didn't employ a certain number of Brazilians? The adverse action could be anything from canceling the permanent visa to denying their citizenship application or similar. I'd be interested in knowing about that. It would be really surprising to me because none of these things are mentioned anywhere as actual requirements for such a business wishing to sponsor a foreign administrator.
   

    -@guerneca

The Investor Visa is granted on the basis that a substantial investment has been made into an existing company in Brazil, with potential to create jobs and income. That, I think, we can all agree upon.

If you want to invest R$600k into a company that invests in the stock market for example, firstly there are numerous licenses and permits you need, but more importantly that company will need to be representing dozens if not hundreds of investors to make enough profit to run an office and create jobs. This is not what I think you are advocating. Additionally, quite specifically, retaining an attorney or accountant does not constitute creating jobs.

Simply dumping cash in a bank account or similar? Rather than benefiting Brazil, it is exactly what Brazil wants to avoid - money laundering. If this were possible every drug dealer and criminal in the world would do it, and be allowed to live here! But opening a bank account does not create real jobs, unless you are going to send billions and create an investment company - ie the situation in the above paragraph.

The professionals you describe , (lawyers, designers, etc), do not need to invest R$600k to create a company, so are irrelevant to this visa, unless they are going to create a large company - ergo they will need an office.

I have witnessed many PF inspections, and I have seen them refuse to renew an investor visa for not satisfying the requirements (FOR RENEWAL, NOT GRANT). I have no doubt that others have told you that they have the investor visa by simply depositing funds, but you need to ask them have those visas been renewed and made permanent? I will continue to investigate on your behalf, but I suggest your interpretation of "investment" does not match that for the investor visa as determined by Brazil. Unless you make a real estate investment, as I have repeated before.

In any event you should seek the advice of a bilingual experienced immigration attorney local to you, and follow their advice. There may be some local nuances within the PF that we are not aware of, that may play to your benefit...

@guerneca

Just for clarification, and for the avoidance of any doubt, you certainly can make an investment of R$500k+ into a Brazilian company by transferring funds through the Central Bank of Brasil to that company's bank account - and you will receive an investor visa for this, but it will be temporary. Of course it is a lot more complicated and expensive than that, but in simple terms...

You then have a limited period to prove that you are trading, creating jobs, making profit/loss and paying taxes (always you pay taxes, whether making a profit or a loss!). If you fail to do this, the visa will not be renewed nor made permanent.

The Investor Visa is granted on the basis that a substantial investment has been made into an existing company in Brazil, with potential to create jobs and income. That, I think, we can all agree upon.

If you want to invest R$600k into a company that invests in the stock market for example, firstly there are numerous licenses and permits you need, but more importantly that company will need to be representing dozens if not hundreds of investors to make enough profit to run an office and create jobs. This is not what I think you are advocating. Additionally, quite specifically, retaining an attorney or accountant does not constitute creating jobs.

Simply dumping cash in a bank account or similar? Rather than benefiting Brazil, it is exactly what Brazil wants to avoid - money laundering. If this were possible every drug dealer and criminal in the world would do it, and be allowed to live here! But opening a bank account does not create real jobs, unless you are going to send billions and create an investment company - ie the situation in the above paragraph.

The professionals you describe , (lawyers, designers, etc), do not need to invest R$600k to create a company, so are irrelevant to this visa, unless they are going to create a large company - ergo they will need an office.

I have witnessed many PF inspections, and I have seen them refuse to renew an investor visa for not satisfying the requirements (FOR RENEWAL, NOT GRANT). I have no doubt that others have told you that they have the investor visa by simply depositing funds, but you need to ask them have those visas been renewed and made permanent? I will continue to investigate on your behalf, but I suggest your interpretation of "investment" does not match that for the investor visa as determined by Brazil. Unless you make a real estate investment, as I have repeated before.

In any event you should seek the advice of a bilingual experienced immigration attorney local to you, and follow their advice. There may be some local nuances within the PF that we are not aware of, that may play to your benefit...
   

    -@Peter Itamaraca

Based on your answers, it appears you've never actually applied for this specific visa nor do you have any personal knowledge of it and are merely speculating. There are several flaws in your reasoning:

First, the visa is issued for an indefinite period and no renewal would be necessary. One can apply for citizenship after 4 years. If you read the text, you will see this.

Second, creating jobs is explicitly excluded as a requirement because the amount has been raised to 600,000 reais. An office is also not mentioned anywhere and isn't applicable.

Third, the professionals I listed serve as examples of legitimate sole proprietor businesses that do not need a commercial office. In fact, there are many multi-million dollar software companies with all employees working out of their home offices too. The point is simply that a commercial office in no way makes any sense as a requirement for a business in today's world.

Fourth, the cash is not being "dumped". It is being invested into a company, exactly as the law says. It is then being invested into other places as the business sees fit, exactly as the business states it will do. 

Fifth, for money laundering: whatever protections exist (if any) to prevent laundered money from buying real estate would presumably exist here. The situation is no different.

And yes, I am looking for an attorney who has experience with this visa. If you know anyone, I'd be happy to consult with them. It seems highly specialized, so it's not easy finding people with experience. Just a lot of people with opinions. There are two firms I've found who do have experience with this and I'm consulting with one of them soon.

    @guerneca
Just for clarification, and for the avoidance of any doubt, you certainly can make an investment of R$500k+ into a Brazilian company by transferring funds through the Central Bank of Brasil to that company's bank account - and you will receive an investor visa for this, but it will be temporary. Of course it is a lot more complicated and expensive than that, but in simple terms...
You then have a limited period to prove that you are trading, creating jobs, making profit/loss and paying taxes (always you pay taxes, whether making a profit or a loss!). If you fail to do this, the visa will not be renewed nor made permanent.
   

    -@Peter Itamaraca

The visa for sponsoring a foreign administrator by investing R$600k is meant to be permanent/indefinite with no renewal necessary and a path to citizenship within 4 years.

@Guerneca

Your insults aside, I will try to answer your questions and help you.

1/ I personally have had an investor visa for 17 years, have helped numerous others achieve this status and acting as administrator for about 7 of them. So I do know what I am talking about, in this regard.

2/ When a visa is described as being granted for an indefinite period, this means that it has not yet been decided when the visa will cease to exist. It may be granted for a few years and thus be renewable, or several years, or it could be cancelled at any time by the Federal Police or Ministry of Justice, as they see fit. But there is no guarantee that it will continue to exist at any time, nor for any length of time.

Hence the concept of being aware and prepared to satisfy renewal requirements in terms of employment and an office. This is covered by the wider considerations of all investor visas, and is referenced in the document you quoted.

3/ There is no provision anywhere for an investor visa to lead to citizenship within 4 years. Simply not possible on its own.

4/ The purpose is to create jobs and make profit, as I hope you now accept. The type of investor visa you are quoting (@600k investment) is actually much more complicated than normal, because there is much more demanded of the investor before, during and after the investment, plus a lot more all associated documentation.  It’s also more complex because it requires the investor to be not only part in a preexisting company but also to be part of its future direction.

5/ The fact that you think certain professionals do not need an office is irrelevant to this case, and whether you like my term "dumping cash in a bank account" or not, that is pretty much what you are proposing.

6/ Like @abthree has in house legal advise, I have mine on speed dial 7 days a week. If you need a legal advisor, and you are local to me, then I would be happy to put you in touch, but you do need to learn an attitude that is not "I want it my way, and the rules must bend to suit me"!

It appears to me you are trying to put a round pin wish list into an immigration square hole. Trust me on one thing - it will never be as easy as you think.

The visa for sponsoring a foreign administrator by investing R$600k is meant to be permanent/indefinite with no renewal necessary and a path to citizenship within 4 years.
   

    -@guerneca

Just to clarify, so there is no doubt - the investor visa will never lead directly to citizenship within 4 years.

Citizenship is a completely different process, that requires a minimum of 5 years of proof of living in Brazil, and has nothing to do with the Investor Visa.

@guerneca

I am still a little confused as to why you might want to pursue this complicated route? Why not simply apply for a  Golden Visa, it still requires the investment to be made first (700k in N and NE Brazil, 1 million in the rest of the country), but is much, much  easier to achieve and way, way simpler and hugely cheaper to keep...

    @Guerneca
Your insults aside, I will try to answer your questions and help you.
1/ I personally have had an investor visa for 17 years, have helped numerous others achieve this status and acting as administrator for about 7 of them. So I do know what I am talking about, in this regard.

2/ When a visa is described as being granted for an indefinite period, this means that it has not yet been decided when the visa will cease to exist. It may be granted for a few years and thus be renewable, or several years, or it could be cancelled at any time by the Federal Police or Ministry of Justice, as they see fit. But there is no guarantee that it will continue to exist at any time, nor for any length of time.

Hence the concept of being aware and prepared to satisfy renewal requirements in terms of employment and an office. This is covered by the wider considerations of all investor visas, and is referenced in the document you quoted.

3/ There is no provision anywhere for an investor visa to lead to citizenship within 4 years. Simply not possible on its own.

4/ The purpose is to create jobs and make profit, as I hope you now accept. The type of investor visa you are quoting (@600k investment) is actually much more complicated than normal, because there is much more demanded of the investor before, during and after the investment, plus a lot more all associated documentation.  It’s also more complex because it requires the investor to be not only part in a preexisting company but also to be part of its future direction.

5/ The fact that you think certain professionals do not need an office is irrelevant to this case, and whether you like my term "dumping cash in a bank account" or not, that is pretty much what you are proposing.

6/ Like @abthree has in house legal advise, I have mine on speed dial 7 days a week. If you need a legal advisor, and you are local to me, then I would be happy to put you in touch, but you do need to learn an attitude that is not "I want it my way, and the rules must bend to suit me"!

It appears to me you are trying to put a round pin wish list into an immigration square hole. Trust me on one thing - it will never be as easy as you think.
   

    -@Peter Itamaraca

I'm sorry you feel insulted. I'm simply stating some facts that you don't seem to like.

1/ My point is you have never applied for an investor visa under the RN11 category. You seem to know little about this specific process which is the one I am inquiring about.

2/ Where exactly are these requirements of an office and employing a certain number of people mentioned for the renewal of this visa? This visa specifically excludes the requirement to hire any number of Brazilians so adding that requirement in during renewal would seem really bizarre, don't you think?

3/ Is this because the visa is a temporary visa, not a permanent visa? That would make sense. I can see the logic there. What I can tell you is I have personally spoken to 2 people who said they got their citizenship after 4 years of this visa, so I'm not sure exactly how they did it or if they're just not telling the truth. That's why I wish to consult with someone who knows about this specific visa process.

4/ I don't agree - the law actually reduces the requirements for this type of visa by removing the requirement to hire any number of people and removing the requirement for a business plan. I alo don't accept the purpose is to create jobs and make profit - none of that is actually mentioned in the law. These are things you seem to be interpreting.

5/ It's not dumping, and if anything that term is insulting. I suggest you look at your own words before accusing others of insulting you. You dump trash or other items that are discarded and put into a meaningless pile. This is quite the opposite.

6/ No, I am trying to understand the law and I question your arguments because they seem to lack logic - you are inventing many things that are explicitly called out as not needed in the law. You also have zero experience with this specific visa so I am skeptical of some things you say. Whoever you have on speed dial also seems to have no information on this specific visa, so I think I'll pass. You basically have no expertise or access to an expert in this field.

I'm not putting any pins into holes. I'm trying to learn the facts. You are giving me opinions and speculation, many of which make little sense because they are squarely contradicted by the law.

I'm not expecting it to be "easy" - that's why you hire professionals who know this and can handle it for you.

     The visa for sponsoring a foreign administrator by investing R$600k is meant to be permanent/indefinite with no renewal necessary and a path to citizenship within 4 years.         -@guerneca

Just to clarify, so there is no doubt - the investor visa will never lead directly to citizenship within 4 years.

Citizenship is a completely different process, that requires a minimum of 5 years of proof of living in Brazil, and has nothing to do with the Investor Visa.
   

    -@Peter Itamaraca

You are wrong about that. Please read the Brazilian naturalization law. Citizenship does not require a minimum of 5 years in Brazil. It is a minimum residence of 4 years, which may be reduced if the applicant has a Brazilian child or is married to a Brazilian national.

There are also other scenarios where this time frame can be reduced.

    @guerneca
I am still a little confused as to why you might want to pursue this complicated route? Why not simply apply for a  Golden Visa, it still requires the investment to be made first (700k in N and NE Brazil, 1 million in the rest of the country), but is much, much  easier to achieve and way, way simpler and hugely cheaper to keep...
   

    -@Peter Itamaraca

At this point in time, I am trying to learn about the various investor visa options and evaluate the pros and cons. I don't think you fully understand the RN11 so you can't really make an accurate analysis of the pros and cons of it versus the others, nor do you know anyone who does.

-@guerneca

Very well, I will leave it all to you, and wash my hands.  Good luck.

@Peter Itamaraca

Interesting information. So buying a house on a land is sufficient for golden visa and to a permanent visa, for example a "sítio"?

@Pantai79

Yes. The Golden Visa cannot be granted for land alone, it must include a house or accommodation.  I guess you could buy a very small house on a large piece of land to qualify, but why?

@Peter Itamaraca I caught this at the end and already have my Permanent Residency Visa, but I never knew there was an option for buying a house on land.   My Brazilian wife owns the land, and I built my house for $20k on that land. Interesting if that would also have been a way to go.

Roddie in Retirement

@Peter Itamaraca

My idea would be a fazenda/sítio type of retreat place. I read from some sources that you cannot buy a rural property if you are not a resident?  I have a temporary residency, CPF, bank accounts etc.? They didn't mention if it has to be permanent or temporary but if the reason to get a permanent residency is to buy property then it's a bit silly rule.

@Pantai79

There are no restrictions for foreigners to own homes in Brazil, unless in certain specific circumstances which does not include rural property. If the rural property is vast, then there are restrictions, but that is unlikely to be a problem for you.

Any foreigner can own a home, whether they have a permanent visa or not.

@Peter Itamaraca

Hi Peter, with this declaration https://portaldeimigracao.mj.gov.br/ima … 1_2017.pdf

it says its possible to invest R$150,000 for this same investment residency. Is the process same?

I work with an actual foreign entity that wants to open a branch here in Brazil and I'm an executive. How feasible is this and any advice you would give? (of course not a legal advice, an intro to one would be great too)

    @Peter Itamaraca
Hi Peter, with this declaration [link under review]
it says its possible to invest R$150,000 for this same investment residency. Is the process same?
I work with an actual foreign entity that wants to open a branch here in Brazil and I'm an executive. How feasible is this and any advice you would give? (of course not a legal advice, an intro to one would be great too)
   

    -@NDUBUISI JOHN OBIRIJE

I cannot see the link as it is under review, but an investment visa for R$150,000 is news to me! Could it be US$150k - which would currently qualify for the Golden Investment Visa in N or NE Brazil?

It is possible for you to establish a company here, for that company to trade and then seek to employ an executive by sponsorship, but it is a long and arduous route and the company must seriously trade in substantial volumes to justify the sponsorship - it cannot be a paper exercise...

@NDUBUISI JOHN OBIRIJE

For the sake of completeness, I should point out that it is technically possible to obtain an business investment visa for less than the minimum R$500k, but it is all but impossible to achieve, and has never been done to my knowledge.

One of the stringent conditions is that you employ a minimum of 10 (if I recall correctly) full time permanent Brazilian staff, and that would be a nightmare for a new business that would cost way more than the original investment! Hence it is a non-starter.

@guerneca

@@Peter Itamaraca I was making reference to the document on this comment.

But thanks anyway for the feedback.

           03/05/24 @Peter Itamaracathere’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.        -@guernecaAs far as I know -- and it's pretty much my business to know -- everything that @Peter_Itamaraca has told you about investment visas is correct as of today's date.  And I've just spent an hour researching the subject independently, and I can't find anything that supports the existence of the type of visa that you believe does exist.  So, let's get back to basics.  Can you give us a link to an authoritative document anywhere that describes a non-real estate related investment visa that doesn't require a business plan and a commitment to create jobs for Brazilians?  If we can see what you're looking at, maybe we can all get on the same page.        -@abthree

You are right that there's little information easily searchable about this visa.

The law is RN 11 and explained here: [link under review]

I know two people who say they have obtained visa and citizenship this way. Of course I haven't seen any of their paperwork so I can't be 100% certain.

I'm hoping to consult with a couple of well known firms soon to hear what they tell me.
   

    -@guerneca

@Peter Itamaraca I was making reference to the document on this comment.

Why not simply invest at least R$700k in residential real estate in N or NE Brazil, and qualify for the Golden Visa? Much simpler to do, you do not need to live in the same area, are free to work, run a business or retire, and is very easy to qualify for.

Trust me, I have a business investment visa, and it is extremely complicated to achieve and manage long term.

@Peter Itamaraca

I totally understand, I'll wait then once I have enough funds for Golden Visa.