Hi, I am new to this group and am hoping that someone will have some advice for me:
My husband and I are thinking about applying for a retirement/permanent visa in Brasil. However, we are concerned about the tax implications. We still have a business in the USA and earn all of our income there. We do not plan to earn any income in Brasil. My husband is over 70 and has had to take his social security, and various pension monies....so we qualify for the retirement visa.
Does anyone know what would be the tax implications for income earned in the USA, while living as a resident in Brasil????
Back story: we have been traveling to Brasil for the past 30 years, and have owned a home in Lencois, Bahia for the past 10 years. We have managed to live between Portland, Oregon and Lencois on a tourist visa during all of this time (about 6 weeks in Bahia and then 6 weeks in Portland.....maxing out our 90 days every 180 days). We are just completing the construction of a new home in Lencois, and are finding it difficult to stay within the tourist visa constraints, and ultimately would like to spend more time in Brasil.
Our biggest question with the retirement visa for Brasil though - is, will we have to pay additional taxes on our US earned income???
Does anyone know of a great Brasilian accountant who might help with this as well???
Thank you very much for any thoughts or input.