On November 21st., 2018, the Brazil published the Normative Resolution No 36 (“NR 36”) that discipline the granting of residence to foreigners investing in Brazilian real estate property.
Foreigners buying a property for minimum of $180,000 (R$ 700,000) will be granted residence rights to live in Brazil. According to the Ministry of Labour, new rules the value of investment must be
- BRL 1 million (USD 260,000) in urban areas (new or existing properties)
- BRL 700,000 (USD 180,000) in North or North-east region
Joint ownership of properties allowed.
The Real estate investment visa is issued for two years with indefinite extensions