Brazil facilitates visa application for foreign investors and delegates

The Brazilian government has eased the bureaucratic requirements related to visa application for delegates in the administration resolution Nr. 7 from October 06th. Various documents, as the negative certifications of INSS, FGTS and Receita Federal etc. do not need to be presented any more. This does not only facilitate the visa application for new employees, but also the "enlargement" of existing visa for services related to companies in the same corporate group, which has been very complex up to now. Also the transfer of personnel inside the corporation has been facilitated. Now it is sufficient to send a notification within 15 days together with an explanatory statement and the additional specification in the labor contract.
Further, the Resolução Normativa Nr. 60 from October 6th 2004 facilitates the conditions related to visa application for foreign investors (natural persons). The required investment has been lowered to US$ 50,000.00 instead of hitherto US$ 200,000.00. The investor gets initially a visa for 5 years (up to now 2 years), which will be transformed subsequently into a permanent visa. In exceptional cases, the visa can be conceded with an investment lower than US$ 50,000.00, if at least ten new jobs will be created within 5 years.

In fact, there are still no practical experiences with the new regulations. Anyway, the Brazilian government has put a positive signal towards a bigger engagement from foreign private investors.

Source: Magazine Brasil-Alemanha
Year 12 - N° 10
Novemberr / December 2004

back to home