'Planning to move to Rio' Retirement

Planning to move to Rio

Richard Calhoun (151.202.92.172) -

I will be retiring in several months and am planning to retire to Brazil sometime after the first of next year. A long-time lover (and collector) of Brazilian music, I have made several visits to the country in recent years to investigate the possibilities and after narrowing down my destinations of choice to Salvador in Bahia and Rio have decided on the latter. (As a resident of New York City for 40 years I just felt Rio had a lot of the same energy.)

With this deadline in mind, I have begun to study Portuguese seriously, put my co-op on the market and alerted my financial advisor of the need to convert my portfolio to an income producing structure. I should have a more than comfortable income, based on my own perceptions of the cost of living there. In addition, I am taking a course to get certification as an ESL teacher of Business English to give me a marketable skill should I find myself unready for full-time retirement.

However, I also realize that as a practical matter there are lots of things to de done, many of which I have probably not even considered yet. So I'm posting this in hopes of soliciting some helpful advice (both encouraging and cautionary) from those who have already successfully negotiated the obstacles and established themselves in paradise. In return, I can only promise to try to be as helpful to other prospective immigrants once I too have joined the ranks of US expats in Rio.

I can be contacted by email and would in fact prefer that to a message board thread. It would be a great comfort to me to be able to discuss this with someone knowledgable as to all the details (and pitfalls) involved in so major an undertaking. It goes without saying that I will be extremely grateful for any assistance offered.

Thanks

Richard Calhoun

New York City

Reply #1 Raymond Dolence (64.24.56.198) -

Hi,

My name is Ray Dolence and I am currently living in Gurnee Il. I will be selling my house shortly and am planning on visiting Brazil with the intent on staying. I would like to correspond with other Americans who have been there and done that.

I would like to go somewhere close to the coast where I would not fall into a tourist trap. I would have a limited budget and would like to be surrounded by other English speaking Americans.

If anyone out there in computer land can help me I would appreciate it very much.

Reply #2 Lee (6) from Montevideo, Uruguay (Contact Member) -

Why did you pick Brazil? It is no doubt a beautiful country.

However for living there you have the beaurocratic issues. For example, you need to get a Visa just to enter. They will probably give you a max of 90 days. You can probably get that extended another 90.

Without residency you have an aboely maximum of 180 days. Once you stay past 180 days your obligated to file tax returns and report your world wide income.

I hear the residency is difficult as well.

Why not look just a tad further south... to Uruguay. You can find plenty of Americans to talk to but it isn't mobbed with them. Residency if quite easy if you can show $500/mon income. You don't pay taxes on income earned from outside.

When you want to visit Brazil Rio is a 2 hr $240 flight away.

• Total Uruguay

Reply #3 AFROGRINGO (74.166.101.197) -

Relocating to Rio de Janeiro State, Brazil is easier than you all realize. Please contac an EXPAT named Glenn Dillard via his website WWW.RIOWILD.COM to leverage his real estate purchasing an lifestyle expertise. He helped me and many other people purchase homes in all over RIO - particulary in the beach front city of Marica.

Reply #4 Michael Oliphant (201.51.254.222) -

Hi Richard,

I'm an ex-Torontonian living in Buzios which is located about 120 km from Rio. I've only been here 2 years but have a lot of fresh things in mind from my experience.

Please feel free to drop me a line at info@icileparadis.com with any questions you may have.

Reply #5 Rosamaria Bauman (75.83.205.13) -

Do U.S. Social Security benefit recipients, who hold retirees' permanent visa, pay taxes once they become residents of Brazil?

Reply #6 Bubba from deep in your mind (Contact Member) -

Is your question:

A) Does the US tax your Social Security benefits when you are a legal resident in Brazil?

and/or

B) Does Brazil tax your Social Security benefits when you are a legal resident in Brazil?

I think you will find the answer to A is that the US taxes you exactly the same (except for the foreign EARNED income exemption).

I think you will find the answer to B is that Brazil is like the USA and will tax you on your worldwide income. Whether they consider Social Security benefits income I don't know.

I also think you will find the USA gives you a tax credit against foreign taxes paid, so you will pay the higher tax rate of the two countries, not the sum of them. But will have double+ the paperwork.

Why not get residency in a nearby country, like Uruguay that doesn't tax income received outside their country... and then spend up to 6 months a year in Brazil as a tourist?

Reply #7 Retiree (59.178.167.63) -

Retirement Planning includes choosing the right location for your retirement .In my view Retirement in Mexico is a good choice due to its Natural beauty, great food, excellent weather and a low cost of living.

• Retirement Planning Information

Reply #8 Ken (24.235.38.90) - 08/30/09 11:24

We are Canadians that can, t wait to live in Brasil SA. Have been going since 1974.I see that finacial requirements are 2000./mon.Can. Does that include Property already owned and lived in Brasil for part time/yr.? I am trying to find permant forms but so far I havn, t. My wife and I have had our cpf # for a number of years.

E-Mail:         

Name:            (required)

Title:           (required)

Message (do not enter emails or links or urls in the message!):