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Brazil simplifies document requirements for foreign investors and other qualifying residence permit applicants
Effective 22 August 2024, Brazil simplified the document requirements for qualifying foreign investors and employees of certain companies who apply for residence authorization. The change applies to (i) foreign employees holding key managerial positions (e.g., administrators, managers, directors or executives) in companies that make qualifying investments in Brazil; (ii) foreign nationals who invest in legal entities in Brazil; and (iii) foreign nationals who invest in real estate in Brazil. These individuals now have the option to submit a receipt of the investment transaction as proof of their investment, provided the receipt is issued by an institution authorized by the Central Bank of Brazil.
A Tax Alert prepared by EY's People Advisory Services, and attached below, provides additional details.