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Brazil Visa - How to Obtain the Golden Visa
In this article, we will provide a comprehensive guide on the Brazilian Real Estate Investment Visa, commonly known as the Golden Visa, and its benefits.
Invest and obtain a residence visa
What is the Brazilian Golden Visa?
Brazil is a country that offers many investment opportunities, and one of the most interesting is the Brazilian Real Estate Investment Visa, also known as the Golden Visa.
The Golden Visa program was introduced in 2018 and it provides residency to foreigners who make a real estate investment in Brazil. Currently, the minimum investment required to obtain the visa is R$1,000,000 (one million reais). However, for properties located in the North or Northeast regions, the minimum investment can be reduced to R$700,000 (seven hundred thousand reais), which is a 30% reduction. It’s important to note that the investment must be made in urban areas for residential or commercial purposes, and the program is not available for properties in rural areas.
Benefits of the Golden Visa
By obtaining the Golden Visa, you are entitled to a temporary residency for a period of 4 years, which can be renewed and eventually lead to permanent residency. The temporary visa is a precautionary measure to ensure that the property remains in the same ownership during the 4-year period. After the 4-year period, you can apply for a permanent visa and gain indefinite residency in Brazil.
Good return on investment
Investing in real estate in Brazil is a wise choice, especially in the major cities such as Rio de Janeiro and São Paulo. The real estate market in Brazil is expected to grow by over 6% between 2022-2027, and there has already been a 10% increase in sales and launches of luxury properties in 2021 in Rio de Janeiro and São Paulo. The growth of the real estate market in Brazil can be attributed to the significant housing shortage in the country, with the IBGE (Brazilian Institute of Geography and Statistics) estimating a shortfall of 5.6 million homes in 2010. This housing shortage will drive demand in the real estate sector, leading to a continuous trend of rising property prices.
STEPS AND DOCUMENTS REQUIRED TO APPLY FOR THE GOLDEN VISA
STEPS AND DOCUMENTS REQUIRED TO APPLY FOR THE GOLDEN VISA The steps and required documents vary depending on the type of property, whether it is already built or under construction, and the location of the applicant. Generally, the following documents are required:
- Proof of property ownership or a contract of promise to buy and sell the property, along with a building permit and “memorial de incorporação imobiliária” (a legal procedure that provides buyers with greater security and protection against fraud)
- Evidence of international transfer of funds for the property purchase, meeting the minimum investment requirements
- Passport
- Proof of affiliation
- Criminal record from the countries where the applicant has lived in the last 5 years.
If the visa applicant is in Brazil, the documents must be submitted to the Ministry of Justice, and the decision will be sent to the Federal Police. If the applicant is abroad, the process is handled by the Ministry of Justice and the decision will be sent to the relevant consulate of the Ministry of Foreign Relations, depending on the applicant’s country of origin. Upon entering Brazil, the applicant must register with the Brazilian Federal Police.
Frequently Asked Questions
You can use this guide to familiarize yourself with rules, laws and other important information relating to the Brazil Visa.
The Brazil visa is a document that allows non-Brazilian citizens to enter, stay and engage in certain activities within the country for a specific period of time. The Brazil visa may be required for activities such as visiting, studying, working, or investing.
Generally, yes. Family members such as the spouse, partner, children, grandchildren, parents, and in some cases, siblings and son-in-law/daughter-in-law, can join the visa holder in Brazil by obtaining a family reunion visa.
The decision will depend on the couple’s ability to prove that each individual has invested at least R$1,000,000 from their own personal accounts. If they are able to do so, it may be better to apply for two independent golden visas. This allows for greater autonomy in case the couple separates.
The process can take up to 60 days from the time all necessary documents are submitted. However, the timeline can vary depending on the specific case.
The requirement for a visa holder to file for tax purposes in Brazil depends on the amount of time they spend in the country. For the first four years of the temporary visa, if the visa holder stays in Brazil for less than 183 days per year, they do not need to file for taxes. After the visa is renewed and becomes permanent, the holder must file for taxes as they will be considered a tax resident.
Yes, the Brazilian real estate investor visa and the VITEM IX visa refer to the same visa for individuals who invest in Brazil, whether in real estate or in a business.
To maintain the validity of the visa, the holder must spend at least 14 days in Brazil every two-year period, either consecutively or not, from the date of registration with the Federal Police.
Conclusion
The Golden Visa provides a great opportunity for foreigners to invest in real estate in Brazil and obtain temporary residency, with the potential for indefinite residency in the future. With the growing real estate market in Brazil, investing in property is a wise choice, and Oabitat can assist with the administrative procedures to make the process as seamless as possible
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