Starting a Business in the U.S. Can Be the Ticket to Permanent Residency
With a suffering economy and a president facing the prospect of impeachment, it’s no surprise that Brazilians are seeking permanent residence outside their home country. For many Brazilian entrepreneurs, their sails are set for the United States –specifically, Florida.
“A new category of Brazilian immigrants are landing in Florida: entrepreneurs who are seeking to ‘dollarize’ their investments and that, in many cases, are giving up their business in Brazil to generate jobs and income in the United States” [1]. The reason many Brazilians are immigrating to the U.S. to start a business is simple: to attain permanent residency.
Miami and Orlando has long been a popular vacation destination among Brazilians, with many of the Brazilian tourists purchasing vacation homes averaging $587,000 [2]. But due to Brazil’s growing economic strife and political corruption, many Brazilians are becoming more and more compelled to turning their former Florida vacation homes into permanent residences.
“But the mere acquisition of property in the U.S. does not give Brazilians the right to live and work in the country,” says Estadão Reporter Fernando Scheller as he examines this Brazil to U.S. movement in his article, The Crisis Grows the Number of Brazilian to Invest in Miami.
Attaining a temporary visa that’s valid between two and five years requires a minimum investment of $100,000 USD, but to attain a permanent visa, an applicant must invest at least $500,000 USD in an American-based business that can generate new jobs.
The investment may seem steep for some, but when you consider the economic freedom, education, public safety and quality of life that the U.S. provides its residents and citizens, the investment is minor –especially to Brazilians who already own multiple vacation homes in Florida.
Still, Scheller says, “Competition in the U.S. market is not for amateurs.” There are many business opportunities but the competition is intense and to succeed, you need more than just a good business sense. At ReachOut Business Solutions, we can provide you the expert resources to ensure your success and attain the best results for your investments. For more information about how to secure permanent residency in the U.S, please consult an immigration attorney.
[1] According to The Crisis Grows the Number of Brazilian to Invest in Miami
[1] According to the National Association of Realtors.
