On 21 November 2018, Brazil’s National Immigration Council published Normative Resolution 36/2018. The Resolution sets the criteria for obtaining a resident’s visa for those purchasing real estate in Brazil.
The Resolution is very short and provides that the visa is available if:
- the property is located in an urban area;
- the property contains buildings (“immovable property”) that have already been built or are in the process of being built;
- the funds for purchasing the property have been sent to Brazil from abroad and belong to the applicant;
- the applicant supplies a declaration from a bank or financial institution registered in Brazil certifying that the funds were transferred for the purpose of acquiring the property; and
- the property (or group of properties) are worth at least R$1 million (R$700,000 if the property is located in Northeastern or Northern regions of the country), alone or in aggregate.
Any amounts invested above the applicable minimums may be financed. The Resolution also allows for joint ownership of properties where each applicant shows that the funds invested surpass the minimum amounts.
Where construction has not yet been finalised, the applicant must also provide copies of:
- the purchase agreement for the property, duly registered;
- construction approval (alvará de construção) as required under Brazilian law; and
- the incorporation memorial (memorial de incorporação), duly registered.
Investors may obtain temporary and ultimately permanent resident visas (“authorisations for residency” as they are now called) once the investments have been made.
Last modified: December 19, 2018