It’s not just the US. Brazil also gives visa the real estate investor, but adhesion is low

Buy a property in Brazil It may be more than a real estate investment – for foreigners, it can mean a chance to legally live in the country. THE Golden Visa Brazilian Grant residence to foreigners who purchase properties here. Although the government expects to attract $ 1 billion this year alone, the measure created seven years ago has been unnoticed and has not had major impacts, especially for the real estate sector.

The first step in taking the Golden aims at the role and attracting international investors to the real estate sector was given in early March. During the global event of the sector, Mipim (Marché International des Professionnels de L’Immobilier), held in France, the Ministry of Tourism and the Federal Council of Realtors (Cofeci) announced a mutual collaboration.

According to the signed protocolthere will be the development of joint actions in order to promote tourism and Facilitate investments in the real estate tourist segment. With an eye on attracting foreign capital, the program is still in terms of results.

In 2019, only 11 foreigners got residence as real estate investor; The number jumped to 205 on the consolidated until the second quarter of 2024, according to data from the International Migration Observatory (Obmigra). It is a significant growth in percentage terms (over 1,763%), but numerically discreet.

Last year alone, Brazil received more than 6.7 million international visitors. On the other hand, since the Ministry of Justice and Public Security created Normative Resolutions 36/2018 and 46/2021, only 683 foreigners obtained this type of visa.

Unknown in the sector

To be entitled to investor visathe foreigner does not need to have only one property with the values ​​stipulated by the resolutions. If there is more than one good, provided that the sum reaches R $ 700 thousand (in the North and Northeast regions) or R $ 1 million (in the Midwest, South and Southeast), it is possible to obtain permission.

In addition, those who get this visa need to have a 14 -day stay every two years in Brazil. These periods can be interspersed, such as two seven -day visits per year or multiple visits from shorter periods. The visa may be canceled if this requirement is not met.

But since the creation of normative resolutions, Alfredo Freitas, president of the Brazilian Association of Real Estate Market (ABMI), says that the sector did not feel the effects of the measure. Recently, the entity has made an appointment with the associates and found that there is still little knowledge about this legislation.

Last year, the United States led the list of countries of origin of these investors, followed by France, Germany and Italy. Looking at the Brazilian states, obmigra data also indicate that Rio de Janeiro has been the main choice as home to the residents with the investor visa, totaling 50 authorizations in 2024. In accumulated since 2019, there were 221 authorizations.

Then comes Sao Paulo, who accounted for 27 foreigners last year, totaling 114 authorizations since the resolution was published. See more details on the map below:

It is worth mentioning that the investments made through normative resolutions have grown significantly. In 2019, the total invested with the real estate investor visa was about R $ 11.3 million, while by 2024 the amount jumped to R $ 259 million until August.

Despite the growth of 2,255% in the amount invested by these foreigners, for those who work in the real estate market the policy still needs adjustments and greater dissemination to achieve its real potential. For the president of ABMI, it is necessary to have an incentive policy that promotes the knowledge of these measures.

Freitas points out that adequate disclosures about the visa have not been made so far, making it difficult to attract people who can be interested in investing in Brazil. “It’s a country full of opportunities, and with many things that can be improved. For the investor interested in generating income here, the lease proves to be a very viable and promising option.”

Golden Visa Brazilian

The intention of the collaboration between MTur and Cofeci is to boost the Brazilian real estate market through tourism. The term is two years, providing for R $ 1 billion already in the first, with the exchange of data and information between the entities.

For this, they will promote participation in national and international events jointly or isolated. “Always promoting national tourism, the tourist projects fitting to capture national and/or foreign investments and the real estate market,” says the document. The transfer of financial resources or donation of assets among them is not foreseen.

Still, there are those who are uncertain about whether the program will actually boost investments in the real estate sector. Marcelo Tapai, a lawyer specializing in real estate law and partner of Tapai Advogados, emphasizes that the minimum values ​​required for the acquisition of real estate are relatively low compared to similar programs in other countries.

In the US, for example, EB-5 has a similar proposal, but with more structured rules, in the view of the real estate expert. There, the visa grants Green Card (permanent residence) to foreigners who invest a minimum value of $ 1.05 million in a new venture, or $ 800,000 in rural or high unemployment areas.

The program also states that at least ten full -time jobs for US workers be created or preserved. But unlike here, the focus is not on the acquisition of real estate. “There, this type of visa fulfills the function of boosting the economy. Foreign capital really has the ability to contribute to this growth.”