Page 17 - Demo

Corporate Overview
To obtain this permit, the foreigner must have a work contract with a Brazilian company, valid for at least 2 years.
The Brazilian company must have for each foreigner employed at least 2 Brazilian nationals on the payroll. This proportion must also be observed in relation to the foreigner’s salary in Brazil x Brazilian employees’ payroll.
The foreigner must offer proof of schooling by means of a diploma (in the event of a university graduate) or a Technical Certificate/School Record (in the case of a technician) and must also prove a minimum professional experience.
As to the salary to be received in Brazil, this should be of at least the same value receiving abroad, and must be equal to or greater than the salary paid to Brazilians occupying the same position. This visa is valid for 2 years.
3.6 Visa for Technical Assistance
The Ministry of Labor may grant a residence permit for work purposes for foreigners who will perform technical roles for the Brazilian company without an employment contract therewith, that is to say,
the foreigner remains an employee
of the foreign company which is providing services to the Brazilian Company. Administrative, financial and management activities will not be considered technical, as per the Normative Resolution CNI No. 3/2017. This visa is valid only for up to 1 year.
Therefore, such permit may be granted in the case of technical cooperation between companies
of the same group. The technical assistance agreement between the foreign and Brazilian company will have to be submitted to the Brazilian authorities. A Training Program for Brazilian employees must also be submitted, and the company must
be prepared to offer proof of the results of such a Training Program for purposes of granting new Visas and/ or extensions of the existing ones.
4. Foreign Exchange Control
The majority of the sectors of
the Brazilian economy receive foreign investment without heavy legal constraint. However, all foreign exchanges are subject to control by the Brazilian Central Bank (BACEN), meaning that any transaction between a nonresident and a Brazilian resident/company shall comply with foreign exchange registration regulations.
The main standard regulating foreign investment in the country
is Law No. 4131/1962. According
to this law, the CMN (The National Monetary Council), the CVM (Securities Exchange Commission) and the BACEN are the main organs governing specific types of foreign investment in Brazil.
Foreign investments are required by law to be registered in BACEN in order to enable remittance
of dividends, interests and repatriation of principals, among
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