Government studies lowering minimum investment for foreigner to obtain permanent visa
Lisbon - The government is studying a reduction in the minimum investment foreign investors must make in Brazil to obtain the right to a permanent visa, according to information disclosed by the Executive Secretary of the Ministry of Tourism, Márcio Favilla, during a workshop on attracting Portuguese investments for the Brazilian tourism sector.
According to the Secretary, the minimum investment currently required is US$ 200 thousand. The matter is being analyzed by the National Immigration Council. Favilla informed that the idea is to encourage more investors to establish themselves in the country.
One of the Brazilian government's intentions, according to Favilla, is to stimulate more Portuguese to invest in Brazilian tourism. The Portuguese, together with the Spanish and Italians, are the biggest investors in this sector. By itself, the Portuguese airline TAP offers 34 weekly flights to Brazilian capitals, especially in the Northeast.
The Executive Secretary informed that the Ministry earmarked 80 million euros to improve the country's tourism infrastructure and 8 million euros to train personnel.this year. According to Favilla, the Ministry's budget should grow from its current level of 30 million euros to 50 million euros in 2005.
Agência Brasil
Reporter: Carolina Pimentel
Translator: David Silberstein
