Brazil – Land of Carnivals
Federative Republic of Brazil, situated in the continent of South America is the world’s fifth largest country in terms of area and sixth largest in terms of population. It is the only country in the world that has the equator and the Tropic of Capricorn running through it.
A country of great diversity in terms of culture and heritage, Brazil also boasts of great geographical diversity in its landscape. It has the world’s largest rainforest, the Amazon Rainforest and also the Pantanal, one of the world’s largest tropical wetland expanse.
Brazil is a democratic federal republic with a Presidential system. The federation is composed of a Federal District, 26 states and 5,570 municipalities.
Brazil has a mixed economy with abundant natural resources. It is the largest national economy in Latin America and the world’s eighth largest economy. Brazil is one of the world’s largest breadbaskets. Besides agriculture, mining, manufacturing and service sectors are the mainstays of its economy. Its major exports include aircraft, electrical equipment, automobiles, ethanol, textiles, footwear, iron ore, steel, coffee, orange juice, soybeans and corned beef. Brazil is the largest producer and exporter of coffee in the world.
Tourism is a growing industry and the country’s diverse scenic vistas and environmental heritage have given impetus to ecotourism in recent times while its famous carnivals promote cultural tourism.
Brazil is a founding member of the United Nations, the G20, BRICS, Union of South American Nations, Mercosul, Organization of American States, Organization of Ibero-American States and the CPLP.
The Brazilian Economic Citizenship Program:
The Brazilian Economic Citizenship Program is one of the cheapest investment programs in the world in terms of investment amount. Compared to USA, Canada, the Caribbean islands and many European countries, it stands apart due to the affordable amount of investment required.
This program grants foreign investors the opportunity to gain permanent residence in the country in return for investing his or her own foreign funds in productive activities or investing in existing activities in Brazil. In return it grants the foreign investor the right to live and work in Brazil.
Under this program, the investor is required to invest $150,000 US. The investment can take any form and includes buying a piece of land or propertysuch as a rental apartment or condo-hotel unit (flat) or opening a small business, such as a restaurant.
Family members of the investor can also be included in the application.
If approved, the investor and his/her dependents are granted permanent resident status and after four years of residency, full Brazilian citizenship can be acquired.
This program is very flexible in the sense that there is no minimum residency requirement in Brazil after permanent resident status is granted. Foreign investors can also obtain residency remotely and do not need to travel to Brazil during the application process. They need to visit Brazil just once to pick up their residency card.
Who can qualify?
Applicants wishing to obtain permanent residency of Brazil through this program must meet the following requirements:
- Must be over 18 years of age (If a person under the age of 18 wants to naturalize then the parents or legal guardians must file the application)
- Must show proof of legal origin of investment funds
- Must not have any criminal record
To maintain residency status, a minimum stay period in Brazil is one entrance every other 2 years.
Foreign investors can either open their own company in Brazil, invest in an existing company or buy an existing company. The investor can therefore transfer the investment funds into the account of his/her Brazilian Company or another Brazilian company if that is the case.
The safest and most popular option is to open a new company.
- Once the foreign investor has incorporated a legal entity and opened an exchange account for that legal entity in Brazil, his/her investment will be registered at Brazil’s central bank as foreign direct investment. This will allow the investor to transfer the investment of R$500 000 BRL ($150 000 US) into his/her account in Brazil. The investor can use that money any way he/she wishes (property acquisition, stocks, fixed income, etc.)
- After transferring the funds, the investor will then be required to submit an application to Brazil’s Ministry of Labour. Once the Ministry approves the application, the investor can obtain the investor visa at any Brazilian Consulate and subsequently get the RNE “Yellow Card” (Permanent Residency) on his/her first visit to Brazil.
Once funds are transferred in the investor’s Brazilian company, they can be invested in various different ways including real estate, bank investments, stocks, etc. Investors can choose their own investment, but it must be done in the name of the investor’s company. Most foreigners, usually those who are already purchasing real estate, take advantage of it. But investors can also invest in stocks and even savings accounts, where interest rates and dividends are much higher than those applied and seen in other countries.
Benefits of the program:
- International mobility – Visa free travel to over 146 countries
- A Yellow Card holder can travel without the need of a passport throughout South America
- Active encouragement and incentives for foreign investment, investors can own 100% of land and property
- Investors can live and work in Brazil if they wish but there is no minimum stay requirement to maintain residency