2009 February « American Living Full Time In Brazil Selling Properties

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which garanteed foreign individuals the right to legal residency throughout an investment of at least USD$50,000.00 was revoked.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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How Foreign Individuals Can Invest in the Brazilian Stock Market

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1,February, 12, 2009

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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CLICK HERE: American Guy Living In Brazil On MySpace.Com

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