Brazil
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.
investment
Retired person visa
Under the Resolução Normativa no 45, foreign nationals who wish to retire in Brazil and have a pension that can be regularly transferred to Brazil may obtain a permanent visa (VIPER).To qualify for the permanent visa, the retired person should have a pension equivalent to at least R$6,000 per month. Additional amounts may be required to include dependents.
The applicant must provide a proof of retirement and a declaration detailing the monthly pension income, both issued by an official institution.
Visa is subject to revision within the third year after its issuance. For its renewal visit the country at least one time during the first two years and prove that the monthly amount required has been transferred to a Brazilian bank institution.
Requirements
- Letter informing the reason for moving to Brazil.
- Declaration from institution detailing monthly retirement income.
- Declaration from banking institution that applicant can transfer the funds to Brazil.
- Proof of retirement issued by official institution.
- 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.
Restricted Nationalities
No nationality is officially restricted
dual citizenship
Dual citizenship is recognized in Brazil. You are not required to renounce your previous nationality to become a citizen of Brazil.
Documents Required
- Original Police Clearance Certificate
- Original and photocopy of passport
- Curriculum Vitae
- Original or Certified copy of Marriage Certificate (if applicable)
- Evidence of Residential Address
- Bank Statement
- Two passport-size photos
- Original or Certified copy of Birth Certificate (if applicable)
- Medical Certificate
- Proof of pension
- 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 -
- Investment Family 4 -
- Minimum annual income $24,000
- Time to citizenship 48
- Time to permanent residency
- Visa-free countries 167
- Financing available No
Benefits
citizenship benefits
permanent residency benefits
Country details
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
Taxes
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