Retire with less than $2000USD/month???

Hi,

I have spent several months living in Brazil and now, after a few months home in Canada, I would like to retire in Brazil .

I am receiving about $1800US/ month from my pension, but I have about $75,000US in the bank.

Can I get a retirement visa with less than the required monthly income?

Pete

Hi Pete,

Welcome to Expat.com :)

I have moved your topic on the Brazil forum so that you can get more information about Brazil itself, since it is your next destination.  :idontagree:

I invite you to go through the various topics in the Cost of living in Brazil forum, it might help you to find some pieces of information.  :happy:

Thanks,

Priscilla
Expat.com team

Thank you

Hi, Pete,

The new "Temporary Visa and Authorization of Residence on the Basis of Retirement" is so new that the final, detailed regulations for it haven't been issued yet (and I keep looking!) for either the Foreign Ministry or the Federal Police.  So, for now we can only go on what's in the Normative Resolution of October 20, 2019, which you can read (in Portuguese) here:

http://www.in.gov.br/web/dou/-/resoluca … -229901650

You may end up being among the first to try to benefit from this Resolution, and there are disadvantages with being first.  One glaring hole is that the Resolution explicitly anticipates a "temporary visa", almost undoubtedly in the VITEM series, for retirees, but that visa hasn't been created yet, although there are numbers available for it in the series; at least, I can't find it on the website of any Brazilian Consulate in the world.  (Do not try to follow the directions for the old VIPER for retirees that are still on the website of the Vancouver Consulate General:  that visa was abolished for new applicants in November 2017, and this Resolution is intended to replace it.)  Your fastest way to get good information, which quite possibly will have to be invented  on the spot to answer your question, would be to send an email to the Brazilian Consulate responsible for your region, saying, "I would like to apply for residency in Brazil as a retiree under Normative Resolution No. 40 of October 2, 2019.  Could you please tell me the process to be followed?"  The Consulates are not doing any routine business these days, but they may be responding to email.

On the specific question of your post, in the absence of regulations, we have to rely on the language of the Normative Resolution itself.  If you can document a pension worth USD$1,800/month, and you have statements from the investment accounts that hold your savings, showing that you can count on the difference -- USD$2,400 a year -- in interest and dividends, then you've met the black letter of the law and you're home and dry:  the total from all guaranteed income sources, including your pension, must equal USD$2,000.  If you have some other source of income that generates USD$200/month, you still should be in the clear.

If, on the other hand, your plan is to draw down your savings for the difference, you may be able to make that fly -- until you run into the one functionary at the Consulate, or worse, at the Federal Police, who won't accept your interpretation.  At that point, without regulations to back you up, you'll probably be rejected.

Two other concerns with the Resolution that you should be aware of.  First, residency is approved for up to two years, not permanently.  The Resolution says that the period can renewed; the terms of renewal will be defined in a new Normative Resolution, that hasn't been issued yet.  Second, applicants are required to provide proof of health insurance valid in Brazil.

Thanks so much for your detailed explanation. I wonder if they will accept rental income (shown as a regular deposit on my bank statement.) Probably depends on the mood of the bureaucrat that particular day.

I wont be applying for several months - likely after Christmas. Maybe by then the new regulations will be hammered out a little more clearly.

Thanks again.

Pete

Sure thing - all the best.  Nothing will be moving for the next couple of months, anyway.

I'd have the bank statements and copies of the leases:  hard for them to reject that combo.

You're probably aware of this already,  but for reasons unknown to me, Canada is not a party to the Apostille Convention.   That means that all of the Canadian documents you'll submit to the Federal Police will need to be legalized at the Brazilian Consulate responsible for your province, preferably before you leave.

Thanks for the heads up about the paperwork.  I hope Brazil is able to keep a bit of a lid on this Corona virus and not go the way of he USA.

Thank you for this info. It was new to me, and simplifies things immensely.  At least, potentially. 😊. As crass as it sounds, waiting for my elderly dog to live out her time, so any move probably won't happen for some time yet.  And by then, all the links should be worked out, right? Fingers crossed.  Obrigada pelo link.

Viajanete :

Thank you for this info. It was new to me, and simplifies things immensely.  At least, potentially. 😊. As crass as it sounds, waiting for my elderly dog to live out her time, so any move probably won't happen for some time yet.  And by then, all the links should be worked out, right? Fingers crossed.  Obrigada pelo link.

It doesn't sound crass at all.  She's doing you a big favor too, giving you time to get your finances organized to your satisfaction and your plans set,  and maybe time for the Brazilian authorities to figure out how they'll make everything work. 

All this, and companionship too - good dog!  Please give her a pat for me.   :D

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