As part of its strategy to encourage foreign investment in the country, Brazil has introduced a residency and citizenship visa for international buyers of property. Similar systems already operate successfully in several other countries including Spain and Portugal and offer a fast-track route to investors who wish to acquire official residency or another passport. In this article, we take a look at the conditions and advantages of the Brazilian real estate investment visa.
To qualify for the new Brazilian real estate investment visa, foreigners must meet certain conditions. Minimum investment must be R$700,000 in Northeast Brazil and R$1 million elsewhere. There is no limit to the number of properties that investors may bear as long as their combined value exceeds the minimum investment.
The property must be classed as urban for taxes purposes. It may be under construction or a finished build. Examples of eligible properties include the villas and apartments at The Coral in Northeast Brazil.
Brazilian residency and citizenship
The main advantage of applying for the Brazilian real estate investment visa is that it entitles the holder to permanent residency status in Brazil. The holder doesn’t have to live in the country but must spend at least 30 days a year there. After four years with a residence permit, visa holders can apply for Brazilian citizenship and a passport.
The Brazilian real estate investment visa offers several benefits to investors. A permanent residence permit means you may travel freely to and from Brazil and live and work where you choose in the country.
Perhaps the biggest benefit of Brazilian citizenship together with a passport is that it gives you visa-free travel to over 150 countries in the world. For this reason alone, Brazilian passports rank as the 17th most sought-after in the world according to the 2019 Henley Passport Index. If you’re a Brazilian citizen, you are not required to stay in the country for a stipulated period every year.
The Coral, BRIC Group’s flagship development in Northeast Brazil, provides investors with a tandem of advantages. Not only can they create wealth from their assets but investing at The Coral means they qualify for the Brazilian real estate investment visa.
Investment options include buying a turnkey villa from R$684,532 (around US$190,660). The Coral offers three exclusive types of villa design within the resort. Owners can expect to benefit from strong rental returns – current villa owners letting their properties have already seen income from high season exceed their expectations.
The Coral also has luxury 1-bedroom apartments, sold fully-furnished and equipped for immediate holiday rental. With a private garden and duplex-style accommodation, the Coral Loft Apartments are available from R$327,000 (around US$89,500). Just 24 units are available on launch.