Legal Guide for Foreign Investors in Brazil - Apex-Brasil

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Legal Guide for Foreign Investors in Brazil Individual foreign investor A permanent visa may be granted to an individual who invests no less than US$ 50,000.00 (fifty thousand US dollars) in a new or existing Brazilian company. Exceptionally, the Ministry of Labor may grant a permanent visa to an individual who invests less than US$ 50,000.00 (fifty thousand US dollars) provided that he/she presents a business plan committing the Brazilian company to create no less than ten new jobs for Brazilian nationals in the following five years,. Furthermore persons who have been employed in Brazil in a temporary capacity (regardless of whether the company is Brazilian or foreign owned) for a period of four years may apply for permanent resident status. To obtain a permanent work permit an individual who has worked in Brazil on a temporary basis for four years, must submit an application to the Ministry of Justice no less than 30 days prior to expiry of the four-year deadline. 11.5. Registration Upon Entry Into Brazil Foreigners, upon entering Brazil with a Temporary Work Visa or a Permanent Visa must register with the Federal Police (Ministry of Justice) and obtain the foreigners ID card within 30 days of arrival. This rule applies only to alien residents in Brazil, immigrants, and temporary residents with the right to work. Artists, athletes, tourists, and businesspersons on short visits are not required to register. Holders of Temporary work visa and Permanent visas must also register with the Federal Revenue Service (SRF/MF), and their earnings are subject to taxation under Brazilian tax law. Employees of Brazilian companies must obtain a Work Document (CTPS), in compliance with Brazilian labor legislation. For its part, the Brazilian company must sign the work document and notify the Ministry of Labor, within 90 days of the foreigner’s arrival in Brazil. Foreign holding a Permanent or Temporary work visa and employed by a Brazilian organization are subject to Brazilian taxation as of the date of entry into Brazil. Holders of all other types of Temporary visas are considered residents for tax purposes as of their 183rd day in Brazil. Work visas entail an employment link with the sponsor organization. Any change of employer is subject to prior approval by the Ministry of Justice and the Ministry of Labor. 91
Legal Guide for Foreign Investors in Brazil Upon finally leaving Brazil, the foreigner must submit a “Declaration of Final Departure” to the Federal Revenue Service (SRF/MF) and request cancellation of his/her taxpayer registration and tax liability. The sponsoring company must inform the Ministry of Labor when the foreigner’s employment contract is terminated, so that the visa and registration may be canceled. 11.6. Travel in Advance of Permanent or Temporary Employment Individuals traveling to Brazil on business, prior to obtaining a work permit and appropriate visa, may obtain a short-term business visa. Such a visa does not entitle them to work in Brazil or to receive payment from local sources, until the work permit and visa have been issued. Such individuals should obtain a Permanent or Temporary visas at the Brazilian Consulate with jurisdiction over the individual’s residence. 11.7. Employment of Spouses/Offspring Accompanying spouses and offspring may remain in Brazil as dependents of the visa holder for as long as the visa is valid. However, such dependants are not permitted to engage in employment or any paid activity while residing temporarily in Brazil, without first converting their visa to resident status. 92
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Legal Guide for Foreign Investors in Brazil - Apex-Brasil

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