Permanent visa (VIPER)
Although the permanent visa entitles a resident to live and work indefinitely in Brazil, it is subject to revision within the third year after its issuance. Therefore, it is advisable to visit the country regularly and still meet the requirements to get the renewal successfully approved.
After 4 years holding a permanent visa, a resident may apply for citizenship. Citizenship will be granted if a resident has resided continuously in the country and demonstrate ties with the country, has acceptable Portuguese skills and knowledge of the country's culture and history. The timing may be shortened if the resident is married with a Brazilian citizen.
Investor visaUnder the Resolução Normativa no 28, foreign nationals who show proof of financial means and intention to make a direct investment in Brazil may obtain a permanent visa (VIPER).
The Investor Visa requires an investment of a determined amount by the Ministry of Labor. The amount is usually about R$500,000 for an individual investor or about R$600,000 if it is made through a Brazilian legal entity. Investments of R$150,000 in technology or research areas or that hire 10 Brazilian employees may also qualify.
There is no established requirement regarding where the investment should be spent, and it could be in real properties, stocks or setting up a business.
The visa is subject to revision within the third year after its issuance. Visas will be renewed, provided that the foreigner has visited the country at least one time during the first two years and maintains the investment.
The process usually comprises setting up a legal entity (if applicable) in Brazil and a bank account, transfer of the funds and presentation of an investment/business plan to the Ministry of Labor. Once the investment plan is approved, and financial means are proved by a statement issued by the Brazilian Central Bank, you will be eligible for a permanent visa.
- Business / Investment Plan
- Authorization of Ministry of Labor and Employment.
- Declaratory registration of Foreign Direct Investment (FDI) in Brazil’s Central Bank or the Exchange Contract issued by the bank of exchange that receives the investment (SISBACEN).
- Receipt of the entry of payment of Income tax for the legal entity’s last year of fiscal operations (if applicable).
- Articles of incorporation of your Brazilian legal entity that received the investment (if applicable).
- Confirmation of the payment of the individual immigration tax.
- Non-criminal record.
- All non-Brazilian documents must be notarized by the competent authorities in their country of origin, and by the respective Brazilian consulate, and then translated by a sworn Brazilian translator in Brazil.
No nationality is officially restricted
Dual citizenship is recognized in Brazil. You are not required to renounce your previous nationality to become a citizen of Brazil.
- Original Police Clearance Certificate
- Original and photocopy of passport
- Curriculum Vitae
- Original or Certified copy of Birth Certificate (if applicable)
- Original or Certified copy of Marriage Certificate (if applicable)
- Professional and academic certificates
- Evidence of Residential Address
- Bank Statement
- Certified copy of Business License or Incorporation documents (if applicable)
- Business Plan
- Two passport-size photos
- dual citizenship Yes
- Family members included Yes
- land ownership Yes
- Physical residence required No
- Personal visit required No
- Language skills required No
- Interview required No
- Investment Single $100,000
- Investment Family 4 $100,000
- Minimum annual income -
- Time to citizenship 48
- Time to permanent residency
- Visa-free countries 167
- Financing available No
permanent residency benefits
The Brazilian economy is the largest in Latin America, the sixth largest in the world by nominal GDP and the seventh largest by purchasing power parity. The country is a founding member of the United Nations, the G20, Southern Common Market of the South (Mercosur) and the Union of South American Nations (Unasur), besides being one of the BRIC countries.
Visa Free Travel
A permanent resident will be deemed to be a tax resident in Brazil. If a permanent resident or citizen lives abroad, for the first 12 months subsequent to their departure they may be considered a tax resident.
Tax residents are subject to personal income tax on their worldwide income, whereas non-residents are taxed on their Brazilian-source income.
Brazilian-source income is subject to monthly withholdings and residents' foreign-source income is subject to monthly tax payments.
Personal income tax rates are progressive up to 27.5% for monthly income in excess of R$4,664.68.
Capital gains are taxed separately at progressive rates from 15% to 22.5% for income above R$ 30 million. Dividends are exempted in hands of individuals provided that were taxed on source.
Interest income is also taxed at progressive rates ranging from 15% to 22.5%
There are controlled foreign company rules in Brazil. Brazilian taxpayers must declare profits of their companies owned abroad and in certain cases part of these profits may be deemed as distributed and therefore subject to tax.
Real property taxes are levied by municipalities and ranges from 0.3% to 1.5% of the market value of the property. There is also a real estate transfer tax at a progressive rate from 2% to 6%.
States levy inheritance taxes of up to 8% rate. There is no net worth tax in Brazil.
V.A.T. is levied at the federal, state and municipal level. IPI is the federal tax imposed on manufacture and import of goods and its average rate is 20%. ICMS is the state tax and ranges from 4% to 25%.
With regard to corporate income tax, resident companies are taxed on their worldwide income at a 15% tax rate. However, considering surtaxes and social contributions on profits, the effective tax rate is about 34%. A tax credit for foreign tax paid is usually available, subject to certain limitations.
Dividends received from resident entities are not subject to taxation and those from foreign entities are considered taxable income. Capital gains are taxed separately at progressive rates that range from 15% to 22.5%. Payments to non-residents on dividends are exempt from withholding tax, but payments abroad on interests and royalties are taxed at 15%. If the recipient is resident of a tax haven, the tax rate may be increased to 25%. Withholding tax rates may be reduced under a tax treaty.
For further information on corporation legal framework, taxation and tax treaties, you can check incorporations.io/brazil.
This should not be construed as tax advice. We have access to a global network of qualified attorneys and accountants who can give you the proper advice for your particular circumstances. Contact us for further information.
- Property tax Yes
- Transfer tax Yes
- Inheritance tax Yes
- Net worth tax No
- CFC law Yes
- Tax residency days 183
- Personal income tax rate 27.5%
- Capital Gains tax rate 22.5%
- Investment income tax rate 22.5%
- Territorial taxation No