South America is one of the last remaining unknown treasures in the world. Of course everybody knows about Rio de Janeiro, Buenos Aires, Santiago, and Bogota but there is a lot to explore in this vast and green continent.
In my opinion, the best adventures start in Panama and go south. Medellin, Colombia, Rio de Janeiro, Brazil, Quito, Ecuador, and Santiago, Chile (Chilecon Valley). All of these cities are vibrant with a lot to offer the American expat.
The biggest country in South America, Brazil, has seen a major bump in tourism as of late and is expected to continue growing substantially.
Brazil has also been attracting a lot of foreign investors. The Chinese invested $520 million last year, with more to come. These infrastructure, port, and destination investments are having a big impact on the country’s economy, and helping to drive tourism.
Tourism has been up since the World Cup, but sadly also crime. There are parts of Brazil where I would recommend you not travel, but there are other cities and small towns where everybody must go at least once.
As I continue writing this ongoing series about how to get residency in countries all over the world, this will be the first time where I say that Brazil is a place to retire only if you have a decent amount of money saved.
For everybody else, I recommend applying for the investment visa. Investing in Brazil right now is very popular and for a reason. The government wants foreign investment to continue entering the country and if you decide to invest or open a corporation they will welcome you with pen hands.
Here’s what you need to know about residency in Brazil.
The first thing that you have to do when you are applying for a permanent residency in Brazil is locate the nearest Federal Police Station. Here your case will be sent to and reviewed by the Brazilian Ministry of Justice.
The Ministry of Justice takes 6 months to 3 years to process your application and give you a definite answer. The documents that you will be required to include in your application are:
- Filled out Online Form
- Copy of Passport
- Copy of Marriage Certificate
- Copy of Identification
- Signed statement made by the Couple to prove that they are not separated
- Pay Stub
- Document showing a Clean Criminal Record
I mentioned before that Brazil is an expensive country and that I recommend that only Americans who have a decent amount of money saved should apply for the pensioner permanent residency visa.
With that in mind, in order to apply for the pensioner visa the first thing you need to do is give proof that you are earning more than $2,000 dollars a month from an IRA or pension. You also have to prove that you make an additional $1,000 dollars a month per dependent. That is pretty much everything that the Brazilian government requires for you to apply for the pensioner visa, and of course the relevant documents above.
One way in which Brazil is attracting talent and innovation into their country is by promoting tech and FinTech start-ups. The startup visa has been attracting a number of companies and innovators who see Brazil as a lower cost option to grow their business.
In order to apply for the startup visa, the beneficial owner of the business must invest at least $200,000 dollars and create at least 10 jobs for locals. The startups can solicit a total of 3 visas which have a duration of 2 years.
The investor visa is similar to the startup visa in that they share the minimum amount of capital of $200,000 dollars. Depending on the time you are applying for the investors visa there are certain sectors in Brazil that qualify as productive activities that you are allowed to invest in.
You must do research and create a business plan detailing where and how will your investment money be distributed in. You may be allowed to obtain a permanent residency if you prove that your investment will bring new technologies and innovation into Brazil.
Brazil allows for double citizenship under the condition that the other country does as well. The United States does not officially recognize dual citizenship, but is not against it meaning that you can obtain a Brazilian citizenship while still maintaining your American passport. You will be considered a Brazilian citizen by the government when you are inside the country.
I hope you’ve found this article on how to get residency in Brazil to be helpful. For more information, or for assistance with residency in Brazil or elsewhere, please contact us HERE.
Also, here are a few articles on Brazil that I know you’ll find interesting! Enjoy!
