Retirement Visa clarification

You must prove that you have a monthly income equal to or higher than U$2,000. Sources of income can include Social Security benefits, pension benefits, financial investments, and property rentals. The temporary visa is granted initially for two years and can be renewed.
Now, remember currency can fluctuate greatly between the U.S. dollar and Brazil's currency, the Brazilian real. This will impact your cost of living and how far your dollar will go to Brazil at any given time.
I am not aware of the $R 6000 is a good number.
Now you will have to be in Brazil at least 6 months to maintain that visa and the visa is issued for 2 years and reviewed every 2 years. Would hate to have to count days.
There is a forum topic on ex-pat retirement in BR which has experienced expat's on the subject.

Thanks for the info.

With interest from savings AND my small pension, I should be able to make the $2000 / month hurdle. Plus, the Canadian dollar is gaining a bit on the US dollar.

When i Googled "retirement visa Brazil", these were the first 4 links to come up and all say R6000 per month is the requirement

Expatbriefing.com

Residencies.io

Fragomen.com

Escapeartist.com

Maybe they are older pages and the rules have changed?

I appreciate the assistance.

Pete

Pete,

Whenever possible when dealing with Brazilian immigration law, you want to go directly to the official sources:  the local consulate's website, the Ministry of Foreign Affairs website, or the Diário Oficial da União.  Third-party sites have trouble keeping up with the latest changes.  It wasn't too long ago that the exchange rate was R$3 = $1US; that's probably the source of the R$6000 figure.

Here's the current regulation, published in November 2019.  $2000 US in foreign currency is called out as a specific requirement:

https://www.in.gov.br/en/web/dou/-/reso … -229901650

Super. Thanks.

Are you sure financial investments can be used as source of income? Is there a certain dollar amount in stocks or bonds or something else that can suffice?

All the searching I've done seems to suggest it must be a pension of some sort.

guerneca wrote:

Are you sure financial investments can be used as source of income? Is there a certain dollar amount in stocks or bonds or something else that can suffice?

All the searching I've done seems to suggest it must be a pension of some sort.

Here's the relevant section of the law:

"Art. 3º Deverão, também, ser apresentados à autoridade consular:

I - comprovação de aposentadoria e de capacidade de transferir para o País a quantia, em moeda estrangeira, em montante igual ou superior a US$ 2.000,00 (dois mil dólares);

II - comprovação de recebimento de pensão por morte em montante igual ou superior a US$ 2.000,00 (dois mil dólares); ou

III - outras fontes regulares de rendimento para complementar o valor exigido no art. 1º desta Resolução Normativa, se necessário."

It lists three acceptable sources of income that, if documented, may be accepted as valid.  The first one is a normal retirement pension.  The second, I understand as a survivor's pension. 

The third is "other regular income sources to complete the value required in article 1 of this Normative Regulation, if necessary".   The interpretation of this regulation is still being finalized case by case, but I would say that any standard documentation acceptable to the native country's taxing authority that shows a regular stream of income (e.g., rent receipts from a rental property, regular receipts of dividends on a broker's statement, regular interest statements from a financial institution, etc,) meeting or exceeding the $2000 US/month requirement would represent a very strong case for qualifying for residency under this model.  Mere ownership of financial investments without proof that they were generating sufficient income would probably be a much harder case to make.

Thanks. That's really great information. Any idea how long of a history of such income one must show?

If your income stream is already in place, your most recent tax return, with supporting details, will probably be sufficient.   If you're still putting it together, documents like a Statement of Benefits from Social Security  (which can be downloaded from their website), pension verification letters from pension administrators,  and brokerage account statements are all useful.

abthree wrote:

If your income stream is already in place, your most recent tax return, with supporting details, will probably be sufficient.   If you're still putting it together, documents like a Statement of Benefits from Social Security  (which can be downloaded from their website), pension verification letters from pension administrators,  and brokerage account statements are all useful.

It's tricky. Most of my investments are in growth stocks which don't pay a dividend. But the growth is well in excess of the $2,000 per month necessary. It's possible to change the investments into dividend yielding stocks, but that dividend income will not appear until at least my 2021 return. Another way is to sell $2,000 worth of stocks each month, but again that won't show up until the next tax return and I'm not sure if they will view that in the same light as dividends.

Several other countries (like Mexico and Argentina) have a very similar "retirement" visa, but they will accept a certain amount of liquid assets. Their thinking presumably is if you have enough liquid assets totaling $2,000 per month for 2 or 3 years, that should be enough. It seems that's not good enough for Brazil. They want to see income. I'm not entirely sure how to proceed. I do not have any pension or social security income. I'm too young for that.

Any ideas?

That's a question that should be directed to the Brazilian Consulate General responsible for your state for an authoritative answer.

The Brazilian retirement visa is specifically directed at actual retirees, i.e., foreigners of secure independent means who will NOT compete with Brazilians for jobs.  The original retirement visa, phased out in 2017, perhaps through an oversight in drafting the current law, included non-employment as a specific requirement.  The revived retirement visa/residency authorization does not include that requirement yet (the regulations still appear to be incomplete), but it's likely that the Polícia Federal, who replaced the Foreign Ministry as the lead organization for residency decisions under the 2017 law, will interpret gaps in the light of the old rules.  They'll be alert to the possibility that candidates will run through their assets and then try to enter the job market, or seek state aid.

Brazil has an Investment Visa for foreigners who want to become residents by investing a portion of their liquid assets.  The Consulate may well try to point you in that direction when they review the facts of your case.

abthree wrote:

That's a question that should be directed to the Brazilian Consulate General responsible for your state for an authoritative answer.

The Brazilian retirement visa is specifically directed at actual retirees, i.e., foreigners of secure independent means who will NOT compete with Brazilians for jobs.  The original retirement visa, phased out in 2017, perhaps through an oversight in drafting the current law, included non-employment as a specific requirement.  The revived retirement visa/residency authorization does not include that requirement yet (the regulations still appear to be incomplete), but it's likely that the Polícia Federal, who replaced the Foreign Ministry as the lead organization for residency decisions under the 2017 law, will interpret gaps in the light of the old rules.  They'll be alert to the possibility that candidates will run through their assets and then try to enter the job market, or seek state aid.

Brazil has an Investment Visa for foreigners who want to become residents by investing a portion of their liquid assets.  The Consulate may well try to point you in that direction when they review the facts of your case.

That's a good point. The problem with the investor visa is you need to bring those assets into Brazil. I have no intention of entering the job market or seeking state aid. I'd be very happy to accept a visa that prohibits all that. I don't know if that's possible, though.

In most countries that offer such visas, the retirement visa (more precisely a non-lucrative visa) specifically prohibits employment. So this is never an issue. Brazil has created a rather ambiguous category, though.

I agree with abthree.
You are not retired, no pension/IRA/401K will be a hard fit for a retirement visa. (Unless you want to move your assets into BR. Which is not recommended)
You must show an income of $2000.00 a month. Are you living off your investments? Taxable or deferred account(s). Growth in my mind very small holding in bonds. (ALL are paper money)
If you are not old enough for SSA, you are in your "growth" or "growth/income" phase, and if I were you continue saving.
Now that said if you have 1 million in assets plus a nice checking account you may meet the "retired" status. The visa will be a year to year expiration probably, so another financial crisis, your "paper" assets may cause problems for you.

Texanbrazil wrote:

I agree with abthree.
You are not retired, no pension/IRA/401K will be a hard fit for a retirement visa. (Unless you want to move your assets into BR. Which is not recommended)
You must show an income of $2000.00 a month. Are you living off your investments? Taxable or deferred account(s). Growth in my mind very small holding in bonds. (ALL are paper money)
If you are not old enough for SSA, you are in your "growth" or "growth/income" phase, and if I were you continue saving.
Now that said if you have 1 million in assets plus a nice checking account you may meet the "retired" status. The visa will be a year to year expiration probably, so another financial crisis, your "paper" assets may cause problems for you.

Yes I meet that criteria and yes I am living off my investments. Well over 2 million in liquid assets (stocks) and plenty in a checking account. I have enough of a cushion to sustain even quite a large drop. The problem really is that 80% of my portfolio pays zero dividends and the part that does has a low dividend yield. So proving $2,000 per month in income from that isn't easy.

Guerneca,

See the October 14 post by knedelisky in this thread:

https://www.expat.com/forum/viewtopic.p … 84#4958314

She and her husband recently navigated the residence-on-the-basis-of-retirement maze with the help of a consultant and were happy with the results.  She offers to answer questions in her post.

abthree wrote:

Guerneca,

See the October 14 post by knedelisky in this thread:

https://www.expat.com/forum/viewtopic.p … 84#4958314

She and her husband recently navigated the residence-on-the-basis-of-retirement maze with the help of a consultant and were happy with the results.  She offers to answer questions in her post.

Thanks. Just asked. From reading her post, it appears her husband had social security, pension or some other form of retirement income, but let's see what she says!

guerneca wrote:

abthree wrote:

Guerneca,

See the October 14 post by knedelisky in this thread:

https://www.expat.com/forum/viewtopic.p … 84#4958314

She and her husband recently navigated the residence-on-the-basis-of-retirement maze with the help of a consultant and were happy with the results.  She offers to answer questions in her post.

Thanks. Just asked. From reading her post, it appears her husband had social security, pension, or some other form of retirement income, but let's see what she says!

I spoke with a good resource in the MJ and s/he was under the impression one must be retired and show documents from a financial institution (your bank) showing deposits from SSA or a pension of a minimum of $R6000,00 per month.
I asked as to an annuity, but no knowledge of such.
Best contact Consulate covering your area.
SPECIFIC REQUIREMENTS FOR A VIPER BASED ON RETIREMENT TRANSFERANCE (CASE 1B)
□    L) Notarized letter issued by official institution attesting to applicant's retirement. Note: for those retired in the United States, the institution to testify to an official retirement is the Social Security Administration;
□    M) Documented proof issued by pension fund provider of monthly pension income of at least R$6,000.00 (six thousand Brazilian Reais). In case of more than two dependents, an additional R$2,000.00 (two thousand reais) per dependent must be accounted for, from the third dependent on;
□    N) Notarized statement issued by a financial organization certifying that pension funds can be transferred to Brazil on a monthly basis;

Texanbrazil wrote:

guerneca wrote:

abthree wrote:

Guerneca,

See the October 14 post by knedelisky in this thread:

https://www.expat.com/forum/viewtopic.p … 84#4958314

She and her husband recently navigated the residence-on-the-basis-of-retirement maze with the help of a consultant and were happy with the results.  She offers to answer questions in her post.

Thanks. Just asked. From reading her post, it appears her husband had social security, pension, or some other form of retirement income, but let's see what she says!

I spoke with a good resource in the MJ and s/he was under the impression one must be retired and show documents from a financial institution (your bank) showing deposits from SSA or a pension of a minimum of $R6000,00 per month.
I asked as to an annuity, but no knowledge of such.
Best contact Consulate covering your area.
SPECIFIC REQUIREMENTS FOR A VIPER BASED ON RETIREMENT TRANSFERANCE (CASE 1B)
□    L) Notarized letter issued by official institution attesting to applicant's retirement. Note: for those retired in the United States, the institution to testify to an official retirement is the Social Security Administration;
□    M) Documented proof issued by pension fund provider of monthly pension income of at least R$6,000.00 (six thousand Brazilian Reais). In case of more than two dependents, an additional R$2,000.00 (two thousand reais) per dependent must be accounted for, from the third dependent on;
□    N) Notarized statement issued by a financial organization certifying that pension funds can be transferred to Brazil on a monthly basis;

What is MJ?

Ministry of Justice, probably; the Polícia Federal are part of the Ministry.

Yes. Ministry of Justice. Thanks ab
Remember since 2017 Consulates / Embassy now under a different division. They can issue visas, but MJ/PF has the final say as to entering BR on any type of visa.

Got it. Their concept of "retirement" is quite outdated in my opinion. It assumes a certain age by asking for pensions or social security income.

Doesn't seem to allow for a younger person with plenty of liquid assets to live off. Even though the third source of income cited by @abthree suggests it should. Very confusing and somewhat contradictory!

It's a policy decision, based purely on Brazilian interests.  Brazil's attitudes toward immigration are closer to those of Europe than to those of some other countries in the Western Hemisphere and, unlike the situation in the United States, there's broad agreement on them across the ideological spectrum.

Brazil welcomes immigrants from other Portuguese-speaking countries.
Brazil has a generous policy of welcoming refugees, although limited resources for integrating them.
Brazil recognizes the right of Brazilians and permanent residents to bring immediate family members into the country to live with them.
Aside from those categories, permanent residency is hard to get, and citizenship is harder still.  If anything, the 2017 rewrite of the laws eased requirements for the categories above, and toughened them for everyone else.

Quick clarification, please.  TexanBrazil, you mention the requirements for VIPER.  It's my understanding that the retiree visa is actually VITEM, a temporary status for the time being,  not a permanent one. Or has there been a change since the October 2019 resolution?

Do not want to confuse you.
The Viper Visa on Consulates web site (Houston for sure) States Viper is for PR Visas:
VITEM I thru XV are temporary, they may be able to become permanent.

VIPER
A) FAMILY REUNION: dependents moving to Brazil to be joined with a Brazilian citizen or Brazilian permanent visa holder.
Please check the dependent section of our website for more information.
Attention: Being married to a Brazilian citizen does not automatically entitle a foreign citizen to obtain a permanent visa. If the family will not be moving to Brazil on a permanent basis, please apply for a tourist visa.
B) Retirement residence transfer;

C) Work as a manager or director of a religious or social assistance organization;

D) Personal investment in Brazil;

E) Intra-company transferee to work as manager, director, or executive

F) Person of extraordinary ability in the sciences, technological, research, or academic fields, with a job offer at a Brazilian research, scientific, or academic organization.

NOTE: Except for circumstances involving family reunion (case 1A), retirement (case 1B), or work as a manager or director of a religious or social assistance organization (case 1C), all other cases have to be initiated in Brazil (work permit authorization by the Ministry of Labor is required prior to submitting a visa application).

Texanbrazil wrote:

Do not want to confuse you.
The Viper Visa on Consulates web site (Houston for sure) States Viper is for PR Visas:
VITEM I thru XV are temporary, they may be able to become permanent.

VIPER
A) FAMILY REUNION: dependents moving to Brazil to be joined with a Brazilian citizen or Brazilian permanent visa holder.
Please check the dependent section of our website for more information.
Attention: Being married to a Brazilian citizen does not automatically entitle a foreign citizen to obtain a permanent visa. If the family will not be moving to Brazil on a permanent basis, please apply for a tourist visa.
B) Retirement residence transfer;

C) Work as a manager or director of a religious or social assistance organization;

D) Personal investment in Brazil;

E) Intra-company transferee to work as manager, director, or executive

F) Person of extraordinary ability in the sciences, technological, research, or academic fields, with a job offer at a Brazilian research, scientific, or academic organization.

NOTE: Except for circumstances involving family reunion (case 1A), retirement (case 1B), or work as a manager or director of a religious or social assistance organization (case 1C), all other cases have to be initiated in Brazil (work permit authorization by the Ministry of Labor is required prior to submitting a visa application).

All please disregard the Viper notations. I had an old version on Houston Consulate saved. Thanks, AB for the help, but now I have to look at all old favorites .. Crap.

Via, you have it correct, I have been kicked in  the head by horse yo much

You got my hopes up for awhile there. I even dashed off a quick email to the Chicago consulate. 🤭  They'll see it in the morning, I guess. Oh well. Thanks for getting the correction posted right away.

You got my hopes up for awhile there. I even dashed off a quick email to the Chicago consulate. 🤭  They'll see it in the morning, I guess. Oh well. Thanks for getting the correction posted right away.

Via, excuse my oversight. Thanks go to adthree.