The captivating beauty of Brazil and the country’s business-friendly atmosphere is just what foreigners with an entrepreneurial spirit are looking for. This even more so because getting an investor’s visa is simple as it only involves eight steps. Check the steps below, and move to Brazil in less than a year.
Step 1: Get a CPF number
The first thing to do is to get your CPF number (Cadastro de Pessoas Físicas, a bit like a National Insurance Number in the UK), which is an essential document for opening a business. To do this, you need to fill in the form which is available on the site of the Brazilian Inland Revenue (Receita Federal) at www.receita.fazenda.gov.br, and then hand the form in at a Brazilian Consulate or Embassy within 15 days, together with an identity document that shows the names of your parents. The CPF document shall be ready in 90 days, and it is possible to track progress online.
Step 2: Open a company
The procedure for opening a company takes between one and two months. To carry out this process, you shall need the help of a Brazilian citizen or a foreigner with a permanent visa. This person shall be the general manager of the company as stated on the Articles of Incorporation, known locally as Contrato Social, a document which officially establishes corporate societies, allowing the company to be opened. To make sure the contract has all the necessary information, see a specialised lawyer.
Step 3: Obtain your company’s CNPJ
With the Contrato Social in your possession, you can start the process to obtain the corporate registration document, the Cadastro Nacional de Pessoas Jurídicas (CNPJ), also through the Brazilian Inland Revenue website. To do this, you need to fill in and print the registration form that is available on the site, get your signature notarised, and then send the request to a registering unit. The process to get a CNPJ takes five days.
Step 4: Open a bank account
For your company to operate, you will need a bank account. As Brazilian banks do not allow non-resident foreigners to open accounts in the country, the account must be opened by the general manager, using the CNPJ of your company. The process should take no more than two weeks, depending on the bank chosen.
Step 5: Register your investment
The minimum sum you need to request an investor visa is BRL 500,000 (about USD 166,000). This sum could be in cash or as a total asset holding. The registration of the foreign investor is made by the Brazilian Central Bank and is ready in about a month. You may check out further details at the site: http://www.bcb.gov.br.
Step 6: Request your visa
To request your visa, you shall need your company’s Contrato Social, a declaration of investment, your income tax return, and the investment plan, with details of the business venture and of how many jobs it is expected to create in the country. The visa can be requested at any Brazilian consulate. The visa shall run for a period of three years, and it may be extended.
Step 7: Get your RNE identity card
As soon as you arrive in Brazil, apply for your Foreigner’s Identity Card (Registro Nacional de Estrangeiros – RNE), a document which proves that the Brazilian Ministry of Justice is aware of your presence in the country. To apply for this document, you need to print and fill in the form which is available on the Internet at www.servicos.dpf.gov.br. Next, you need to book a date and time to be seen, and also pay a fee. On the day and time as scheduled, you shall need to inform the application code which is at the top of the form to the attendant.
Step 8: Amend the Articles of Incorporation
If you wish, you can remove the general manager from the company once you get your visa. To do this, you just need to change the judicial nature of your company. Do not forget to revoke the access of the former administrator to the bank account.
An investor visa entitles the bearer to remain in Brazil for three years. The time frame can be extended if the company remains active in the same line of business. Below, we present a summary of what is needed to apply for such a visa:
– The applicant must have BRL 500,000 (which is approximately USD 166,000 ) available for investment
– Obtain a tax registration number (CPF)
– Open a corporate society and obtain your company’s CNPJ number and card
– Open a corporate bank account
– Apply for the visa at a Brazilian Consulate
– On arrival in Brazil, start the process to apply for a Foreigner’s Identity Card (RNE)
– Change the nature of the articles of incorporation to revoke the society which had been established so you could do business while the documents were not available
– Enjoy your life as a Brazilian businessperson