Brazil: The Amnesty Law

Brazil: The Amnesty Law

By Jose Santiago July 5, 2009  The President of Brazil, Luiz Inacio Lula da Silva, has sanctioned the Law Number 11.961 of July 2, 2009 which grants all foreigners who entered Brazil no later than February 1st of 2009 and are staying illegally, the possibility to request temporary residence and legalize their immigration status. Such temporary residence will be valid for a period of two years. In order for a foreigner to benefit from this new Law, he or she must have entered in Brazil under the following circumstances: illegally; or those admitted lawfully, but overstayed; and those benefited from the Law Number 9.675/90, but never concluded all the mandatory steps in order to obtain the permanent residency. The important thing is, the request for the temporary residency should be filed within 180 (one hundred eighty) days from the publication of this new Law, and the application must be directed to the Ministry of Justice. Should you need additional information, simply contact my office. Disclosure: This article is merely for informative purposes and does not constitute legal advice. The contents reflect current Legislation, which can be changed or ammended at anytime by the Brazilian Governmental Agencies at their own discretion. Jose C. Santiago Attorney at Law DISCLOSURE: All information herein given is merely for elucidative purposes. It reflects current Legislation, which can be modified in the future. In case of questions regarding a particular case/issue, always consult with your own attorney.

Tools ‹ American Living Full Time In Brazil Selling Properties — WordPress

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American Guy Living In Brazil with Permanent Residents, Helping those looking for a Home To Buy

Hello my name is Bob Ritchie

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I am an American that has been living in Brazil for over seven years now.

I have permanent residence here in Brazil and will be glad to help those people that would like to contact me and get information that i have obtained for over seven years in both living here as well as before moving into Brazil.

Brief Accomplishments, in less than seven years From the start I moved into the north of Brazil in the state of

Rio Grande do Norte

The (First property that I bought) in Rio Grande do Norte which is the north east corner of Brazil about 5 1/2 to 6 degrees south of the Equator was a Ocean Side Motel, or as they call it here in Brazil a Posada. The property had 11 chales and a Restaurant on the ocean side with Tartarugas or sea turtles that feed on the ocean bottom just out front in the waters off of my beach property.

Thus the name Tartaruga Chale e Restaurante became the name of my first business in Brazil. I needed a place to live so I (bought my (1) First house) just down the road from my business, but it was not on the ocean. It was just about 4 months later that I (bought my (2)Second house) that was on the ocean and just a short walk up the beach from my restaurant and chales. This location with my two houses and business is called Tabatinga and being about 45 km just south of the city of

 

Natal

 

In Natal at a place called Ponta Negra I (bought my(3) Third house) a Pent House Apartment over looking

 

Ponta Negra beach

To finish my buying in Rio Grande do Norte I then ((bought my(4) Fourth house) about a four hour drive by dune buggy just up the beach as they say, located north of Natal city on the beach sand fishing village called Galinos, some of the fish I caught there with my boat Bora Bora,

and with a huge lagoa or lagoon with sand dunes all around we had many swim outings.

All Four houses and locations where very beautiful and brought me profit to then move to the South of Brazil and to a location that I wish I knew of before stepping foot in Brazil.

Today, and with no regrets of living in Brazil with what I have learned, being that of both good and bad experiences, I now have made my home on the Island of Florianopolis in the state of

Santa Catarina

Here on the Island of Florianopolis after (One Year and Four Months) I now have (bought my Fifth, Sixth, and Seventh property with water falls and house in the mountains

Brief Accomplishments, Are not finished as I can give you much knowledge as someone who lives here and wants to help others to find their Paradise, or Dream House or Vacation Spot,

I am setting up a web site with much in depth information about how you can live here in Brazil, and what it takes to buy a house or property as well as selling property or a house and what you need to do and watch out for.

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Author José C. Santiago, Licensed Brazilian Attorney, Real Estate …………INDEX

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José C. Santiago BIOAbout Us

By José C. SantiagoPermanent Visas in Brazil

By José C. SantiagoChanges to Investment Visa Law

By José C. SantiagoBrazil: Myths and Facts Regarding the Investment Visa Program

By José C. Santiago8 Reasons to Invest in Brazil’s Real Estate

By José C. SantiagoThe Closing Process in Brazil

By José C. SantiagoLegal Aspects of Acquiring Real Estate in Brazil

By José C. SantiagoHow Foreign Individuals Can Invest in the Brazilian Stock Market

By José C. SantiagoNon-Resident Bank Accounts for Foreigners in Brazil

By José C. SantiagoBrazil: General Guidelines for Foreigners who Intend to Open a Brazilian Corporation

By José C. SantiagoThe Brazilian Resident Investor Program for Foreigners

By José C. SantiagoBrazil: Squatters Rights (Usucapião) – Be Aware!

By José C. SantiagoTax Information for Foreigners in Brazil Part 1

By José C. SantiagoTax Information for Foreigners in Brazil Part 2

By José C. SantiagoTax Information for Foreigners in Brazil Part 3

By José C. SantiagoTax Information for Foreigners in Brazil Part 4

By José C. SantiagoBrazil: Annual Required Procedures to Keep Your CPF Number

By José C. SantiagoLIST OF CONSULAR JURISDICTIONS IN THE UNITED STATES

By José C. SantiagoBrazil: International Money Transfers

By José C. SantiagoBrazil: The Importance of a Title Search When Buying Real Estate

By José C. SantiagoBrazil: Restrictions for Foreigners When Buying Rural Properties

By José C. SantiagoBrazil: Having a Child Abroad for US Citizens

By José C. SantiagoCareful When Buying Pre-Construction Properties in Brazil!

By José C. SantiagoUnderstanding Brazil: Sending Money Home from a Real Estate Deal

By José C. SantiagoHow to Hire a Lawyer in Brazil Part 1

By José C. SantiagoHow to Hire a Lawyer in Brazil Part 2

By José C. SantiagoHow to Hire a Lawyer in Brazil Part 3

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“”Looking For Great Music Sounds”"

“Click Onto Pirate Jack”

“A New Window Will Open”

“Just Minimize While You Keep Looking”

………………………………………………………………..

Changes to Investment Visa Law

Changes to Investment Visa Law

By Jose Santiago February 24, 2009 The Law Number 60/2004 of the National Immigration Council which garanteed foreign individuals the right to legal residency throughout an investment of at least USD$50,000.00 was revoked. The new law is the Law Number 84 published on February 13, 2009 which brings many changes to the investment visa requirements, here are the most relevant: (i) the amount of investment has changed to R$150,000.00 (Brazilian Reais); (ii) the Immigration Council have emphasies that the application bears in mind the social effects and creation of jobs, therefore a business plan will have to be provided by the applicant. (iii) if the investment is less than R$150,000.00 the Council will at their discretion analyze the application and decide whether to grant a visa, based upon the creation of jobs, amount of investment, region of investment, etc. (iv) at the discretion of the Council, the Ministry of Labor may be sent to the corporation receiving the investment to verify the existence of such corporation and the facts described in the business plan. (vi) the visa will be valid for a 3 year period. (vii) to renew the visa it will be necessary to demonstrate that the corporation is in good standing, jobs were created, etc. Should you need additional information related to this matter, please feel free to contact me. Jose C. Santiago Attorney at Law DISCLOSURE: All information herein given is merely for elucidative purposes. It reflects current Legislation, which can be modified in the future. In case of questions regarding a particular case/issue, always consult with your own attorney.

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“”Looking For Great Music Sounds”"

“Click Onto Pirate Jack”

“A New Window Will Open”

“Just Minimize While You Keep Looking”

………………………………………………………………..

How Foreign Individuals Can Invest in the Brazilian Stock Market

How Foreign Individuals Can Invest in the Brazilian Stock Market

By Jose Santiago February 9, 2009The Brazilian Stock Market was created in 1968 and last year completed 40 years with an incredible yield and increase in value: 3,756.63% (indexed by the IGP-DI). In 2007 alone its index, known as IBOVESPA, increased 43.6% – source: O Globo. Even with the international crisis caused by the American Real Estate market, the Brazilian Stock Market is one the best performers in the world currently. Massive foreign investment in the Brazilian stock market is notorious, especially foreign owned funds, corporations, and trusts from all over the world, mostly from the United States and Europe. According to an article published at UOL – ECONOMIA   , from January of 2005 to June of 2008 the IBOVESPA index volatility was 72% due to the movement of foreign assets coming in and out of the Brazilian Stock Market, which demonstrate the volume of transactions by foreigners only. Most recently the entrance of many foreign individuals has been seen, small investors, mostly also from the United States and Europe. However, in order for a foreign individual to invest they must comply with a few requirements which are:       Individual must have a CPF (Brazilian Tax Id) Fill out a non-resident form Acquire a legal representative in Brazil Contract an authorized BrokerThe CPF can be easily acquired either in Brazil or abroad. The non-resident form is usually provided by the brokerage company of your choice. However, not all brokerage companies accept non-residents, as a matter of fact, only a few do. Also, you need also a legal representative in Brazil and in some cases your own brokerage company will serve as your legal representative.In some cases, if you do not operate wish to operate yourself via Home Broker, you can appoint someone to operate in the market in your behalf by giving a written authorization.Should you need additional information about this matter or if you want a referral of a brokerage company that accepts and represents foreign individuals in Brazil, feel free to contact my office. Jose C. Santiago Attorney at Law

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“Looking For Great Music Sounds”

“Click Onto Pirate Jack”

“A New Window Will Open”

“Just Minimize While You Keep Looking”

………………………………………………………………..

Non-Resident Bank Accounts for Foreigners in Brazil

 

Non-Resident Bank Accounts for Foreigners in Brazil

By Jose Santiago January 25, 2009Banks in Brazil do not open regular bank accounts to foreign individuals who do not have legal and permanent residency in Brazil, which is always verified by whether the foreigner has a RNE card.For this case and a few others there are the non-resident bank accounts, however they are not common in Brazil for foreign individuals. Despite the fact that they prescribed by the current legislation and are fundamental in many circumstances, almost all financial institutions in Brazil do not offer such accounts due to the excessive compliance requirements and excessive governmental scrutiny. These accounts are necessary for a variety of situations ranging for people who simply want to invest their money via a bank account in Brazil to large international corporations that sends and receives numerous international wire transfers on a monthly basis. For example, they are fundamental for foreign individuals who do not have an RNE and thus do not have a bank account in Brazil, but need to sell real estate property in Brazil and get the funds. They are also a great tool for those individuals planning to invest in the financial market in Brazil. Nonetheless, such accounts and their necessity have become more popular in Brazil and now more financial institutions are opening non-resident accounts. Most financial institutions charge heavy monthly fees and requires large amounts of funding, but there is a new bank based in Sao Paulo that requires an investment of R$50,000.00 (fifty thousand Reais) for a 6 (six) months period only. Should you need additional information in this matter, feel free to contact my office. Jose C. Santiago Attorney at Law DISCLOSURE: All information herein given is merely for elucidative purposes. It reflects current Legislation, which can be modified in the future. In case of questions regarding a particular case/issue, always consult with your own attorney.

“For Many Questions Answered Quickly”

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“Looking For Great Music Sounds”

“Click Onto Pirate Jack”

“A New Window Will Open”

“Just Minimize While You Keep Looking”

………………………………………………………………..

Brazil: General Guidelines for Foreigners who Intend to Open a Brazilian Corporation

Brazil: General Guidelines for Foreigners who Intend to Open a Brazilian Corporation

By Jose Santiago March 11, 2008 This article covers some of the general issues and requirements encountered in opening a Brazilian corporation. Documents and Information on the partners/owners of company/corporation All types of companies/corporations in Brazil require at least 2 quota holders (owners) which could be 2 individuals or 2 corporations or a combination of these two, either foreign nationals or Brazilian Nationals. If a foreign corporation will be the shareholder/owner, you will need copies of the following documents, all notarized, legalized and sworn translated: - Articles of incorporation and Bylaws of the corporation domiciled abroad. Which they must indicate the person that is empowered to legally represent the company. In the case of a foreign individual as the company‘s shareholder/owner, the following documents will be needed: - Copy of passport (copy notarized and legalized); - Copy of Brazilian CPF card or Protocol; - Proof of residency abroad (copy of a utility bill); - Power of Attorney (notarized and legalized) - Mailing address in Brazil (where corporation will establish its address). Documents and Information on the Administrator / Registered Agent By law, all Brazilian corporations/companies must have a local administrator or registered agent. This person must be a Brazilian citizen or a legal resident of Brazil and will be responsible for the corporation‘s activities before all of the different governmental authorities. Some foreigners chose a friend. But, most importantly, you must appoint a person that you trust. Based on my past experiences in Sao Paulo, if everything works out fine with the local authorities, I estimate the time that takes to open a corporation in 30 regular days. Important Notes The Administrator / Registered Agent: Foreign owners of Brazilian companies, must, by Law, have a Brazilian resident representing them before the Tax Authorities and the Commercial Registry. Preferably, a key person, since he/she will be jointly responsible for all tax responsibilities. In this case you can appoint a person that you trust in Brazil. Alternatively, lawyers and accountants, may represent foreign clients, but there will be additional fees. Nonetheless, please note that this is only until the permanent visa is granted and the owner becomes a legal resident and is enabled to represent him/herself before the authorities. Jose C. Santiago Licensed Attorney – Brazil Certified Title Attorney – Brazil Licensed Real Estate Agent – USA Certified Paralegal – USA DISCLOSURE: All information herein given is merely for elucidative purposes. It reflects current Legislation, which can be modified in the future. In case of questions regarding a particular case/issue, always consult with your own attorney.

8 Reasons to Invest in Brazil’s Real Estate

8 Reasons to Invest in Brazil's Real Estate

By Jose Santiago
Brazil has become one of the most desired countries for foreigners looking to acquire a second home, to live or retire, and also for people just looking to investing in real estate. There are many reasons as to why Brazil is one of the best emerging countries to invest in real estate now, here they are:

1. Natural beauty and weather: Brazil is internationally known for its natural beauty, beaches, nice weather, carnival, music and culture.

2. Solid and secure ownership: Brazil is one of the few countries that allows foreigners to own the free hold or fee simple ownership of its real estate.

3. Underdeveloped real estate market: Due to continuous years of recession and lack of purchase power during the 80s and 90s.

4. Buyers market: The quantity of real estate for sale far supersedes the amount of existing prospective buyers.

5. Inflation under control: the government has kept inflation controlled for decades now.

6. Housing Deficit and Population Growth: Brazil has a 7.2 million unit housing deficit. Moreover, every year the demand is increased by an estimated figure of around 900 thousand homes, nationwide; and on the other hand, only 270 thousand homes were built in 2005, for example.

7. Lower interest rates: Interest rates continue to drop gradually. Several economists believe that by late 2007, Brazil should have become an investment magnet country. They believe that the steady fiscal reforms and economic stability should allow Brazilian interest rates to drop even more significantly, which can already be confirmed. Source: Secretaria da Fazenda do Governo do Brazil (http://www.receita.fazenda.gov.br/Pagamentos/jrselic.htm). It would first change the shift from banking and stocks investments and create a boom in the mortgage lending industry which is almost non-existent now. With more money towards this area of investment, gain in value is undeniable.

8. Compulsory Investment in Housing: Brazil's current main sources of mortgage funding include FGTS (Government fund that manages payroll taxes) and saving accounts. There is a mandatory allocation of part of each of these funds in the housing sector by the government and by the private banks. Plus, the analysts expect that commercial banking mortgages are forecasted to increase between 30 to 40% in 2006.

In conclusion, all indicators show a huge potential and growth for this sector in Brazil and if you are an investor or just someone looking for a second home now, Brazil is the place to look for it..

Jose C. Santiago
Multinvest / Elite International
Licensed Attorney – Brazil
Licensed Real Estate Agent – USA – São Paulo, Brazil. Should you have any questions, related to this matter or any other legal questions, please feel free to contact me.

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Permanent Visas in Brazil

Permanent Visas in Brazil

By Jose Santiago
Immigration visas to Brazil will be granted only to applicants who satisfy special requirements established by the Brazilian National Immigration Council or the Ministry of Labor. In principle, there are seven cases in which a foreigner can obtain a permanent residence visa in Brazil:

1. The administrator, manager or director of a professional or business corporation
This category is designed to cover inter-company transfers. Thus, the applicant must already be employed outside of Brazil by the parent company or by an affiliate or subsidiary of the company that proposes to employ him inside Brazil. However, there is no minimum time for that previous employment. Necessary documents for the first step will include:

Proof that the applicant is employed outside Brazil by the parent company, or an affiliate or subsidiary of the Brazilian hiring company;

A demonstration that the Brazilian company is bringing in specialized labor that will transfer technology, increase productivity and/or bring social benefits;

Proof that the company outside of Brazil or its parent has effected total foreign-capital investments of at least US$ 200,000 in the employing company in Brazil for each visa requested.

2. Administrator, manager or director of a start-up company
Planned and recent start-up companies may apply for a maximum of three visas, essentially for the executives who will get the operation off the ground. The following conditions will apply:

Proof that the non-Brazilian company has been in business outside of Brazil for at least five years;

Power of attorney granted by the foreign investor to its new legal representatives for the purposes of setting up the company in Brazil;

A visa of this type will be issued initially for two years. The applicant company must demonstrate that after this period it will be able to meet the minimum investment or job creation criteria laid down for transfers to an established company (see above).

3. Investor
A foreigner who intends to remain permanently in Brazil and will invest foreign funds in productive activities. This category was planned for those foreigners who wish to invest funds (minimum of US$ 50,000) in any kind of productive activity in Brazil.

4. A researcher or high level specialist
The applicant must supply:

A document from a Brazilian research institution manifesting its interest in the services of the researcher;

A curriculum vitae and appropriate academic references and diplomas.

5. Retiree
A retired foreigner, over 50, who will transfer to Brazil the monthly equivalent of at least US$2,000. There is no limit to the number of dependents who may also receive permanent residence visas, but the main applicant must provide proof that they are genuine dependent relatives, as defined in Brazilian law – see Res. 4 of the CNI (National Immigration Council).

The main applicant must prove he has a pension of at least US$2,000 a month. This will entitle him to visas for himself and two dependents. The applicant must demonstrate an additional US$ 1,000/month for each additional dependent, over and above the two already mentioned, and must supply, amongst other things:

A statement from the foreign agency responsible for paying his retirement pension, informing the total monthly sum of the benefit;

A bank declaration authorizing monthly transfer of at least US$ 2,000.

6. Marriage to a Brazilian citizen
This case is covered by a resolution of the National Immigration Council. A permanent residence visa is granted to foreigners married to Brazilian citizens. Application is made to the Ministry of Justice (normally via regional Federal Police offices, which represent the ministry at a State level) or to a Brazilian consulate abroad. Evidence (e.g. marriage certificate, statement from witnesses) should be presented of the matrimonial union. Immigration officials will effect a surprise visit to the couple's home to make sure that the relationship is not a "marriage of convenience" that has the principal purpose of fraudulently obtaining a residence visa.

7. Foreigner with Brazilian offspring
This case is covered by a resolution of the National Immigration Council. A permanent visa is traditionally granted to the foreign parent or parents of a Brazilian child. Application is made to the Ministry of Justice (normally via regional Federal Police offices, which represent the ministry at a State level) or to a Brazilian consulate abroad. The offspring should be economically dependent on the foreign mother or father and be under the guardianship of the applicant.

Should you need further information, feel free to contact me.

Jose C. Santiago, J.D. Licensed Attorney – BRA Title Agent – BRA/USA Paralegal & Licensed Real Estate Professional – USA

 

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Email:

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robertritchie@brturbo.com.br    

""Looking For Great Music Sounds""   

"Click Onto Pirate Jack"   

"A New Window Will Open"

"Just Minimize While You Keep Looking"

………………………………………………………………..