Photo: Fabio Pagani/Shutterstock
Since its creation in 2012, the Portuguese Golden Visa has been a much sought-after document for wealthy Brazilians. The program, which grants Portuguese residency to people who invest in property in the country, has given 561 Brazilians (as of mid-2018) the right to live in Europe. Now, a new rule will extend a similar benefit to foreigners investing in real estate in Brazil.
On the back of the new Migration Law which came into force at the end of 2017, the Ministry of Labor has instated a new residence visa route for foreigners. People investing at least BRL 1 million (approximately USD 260,000) in Brazilian real estate will be given the right to reside in the country—the minimum amount is as low as BRL 700,000 in the North and Northeast of Brazil.
Upon making the investment (which only applies...
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