The Brazilian Immigration Council, a body of the Ministry of Labor and Employment, published, on November 21, 2018, a Normative Resolution n. 36, of October 9, 2018, which regulates the granting of visa permits as a result of real estate investment in Brazil with the potential of generating jobs or income in the country.
The real estate investment visa is valid for an initial period of two years and can be renewed indefinitely.
In order to qualify for the visa, real estate investments must meet some criteria, such as:
(i) The real estate must be in an urban area, in an amount that is equal to or greater than BRL 1 million (approximately EUR 240.000,00) and can be a fully built property or one that is under construction;
(ii) The value of the real estate investment can be spread across multiple properties in different Brazilian states if the total investment is at least BRL 1 million (or BRL 700,000 in the north or northeast region);
(iii) Co-ownership is allowed but each applicant must separately meet the minimum investment requirements; and
(iv)Applicants can obtain bank financing for but only for the amount that exceeds BRL 1 million or BRL 700,00 in the north or northeast region.
