I am an immigration lawyer in Fortaleza, Brazil and would like to provide the latest information regarding the various programs available for permanent residency in Brazil.

BRAZILIAN IMMIGRATION LAWS

Here are the differences between Normative Resolution 60 and Normative Resolution 62.

Normative Resolution 62 is more rigid as it is for foreign companies who want to form a subsidiary and have a FOREIGN ADMINISTRATOR.

This in the mind of the Brazilian government is like taking food away from the table of Brazilians as it does not provide a job for a Brazilian administrator.

Normative Resolution 62 is for providing a WORK PERMIT for a foreigner. Therefore it is more strict and in 2 years the Brazilian company must demonstrate that it has provided employment for 10 Brazilians.

Normative Resolution 60 is easier as it is NOT PROVIDING A WORK PERMIT for a foreigner. In other words investors only own the Brazilian company, but do not work there. The investor is allowed to manage his company and the permanent visa is renewable after 5 years.

Many clients are simply after Brazilian citizenship which can be acquired after 4 years of residency and are not interested in renewing the permanent visa.

So the reality is that the $50,000 USD does not really have to be spent at all, but can sit in the Brazilian company bank account collecting interest.

FUNDS CAN BE BORROWED

Or the funds can even be borrowed from family and friends as the $50,000 can be bank wired back out of Brazil once the applicant receives the permanent residency.

Or the $50,000 USD can simply sit in the Brazilian company bank account collecting interest.

The Brazilian government is simply happy to have $50,000 in hard currency like USD move through their system.

BRAZILIAN COMPANY MUST BE FORMED

A Brazilian company must be formed and the bank account of that Brazilian company must be registered with the Central Bank of Brazil. The $50,000 USD must pass through the Central Bank into the investor's Brazilian company bank account which remains under the investor's control at all times.