Baby Boomer Retirement in Brazil

by Kathleen Peddicord

If you're in the market for cheap beachfront property, this is the place to shop. Crime is the country's biggest drawback, but south from Ceara to Natal, you can enjoy super-cheap coastal buys in safety.

Brazil is self-sufficient for fuel and making a continued big push for bio-fuel (from cane), even passing legislation requiring car manufacturers to modify vehicles to run on it.

Furthermore, Brazil stands out as unique in this part of the world. It has managed to maintain a socialist government while sticking to sound 21st-century business and economic policies. One of our editors' top picks both for lifestyle and investment in 2008.

Note that Americans need a visa to visit Brazil.

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Brazil in general is not easy to navigate if you don't speak Portuguese. You can muddle your way through with Spanish, but, if you speak only English, I think you'd feel frustrated and isolated living here, not only because of the language hurdle, but also because you'd find precious few fellow expats to pal around with.

So, I say again, this isn't a place I'd recommend for retirement, certainly not for retirement on a budget. If, though, your agenda is a new life of challenge and adventure, come take a look. The beaches (Brazil's trademark attraction) are what you imagine them to be (that is, long, deep, and powder soft). And the economy is booming. The entrepreneur will find opportunity.

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Brazil at a Glance

Population	198,739,269 (July 2010)
Gross Domestic Product (GDP)	$2.013 trillion (2009)
GDP Per Capita	$10,100 (2009)
Inflation Rate	4.2% (2009)
Currency	Brazilian Real (BRL)
Exchange Rate Versus U.S. Dollar	2.03 reals = 1 U.S. dollar (2009)
Language	Portuguese (official)
Capital	Brasilia
Population of Capital City	2.55 million (2008)
Time Zone	GMT minus 3
Seasons	Tropical--wet, warm/hot year-round. Southern tip: temperate with four seasons
International Dialing Code	55
Electricity	110/220V / 60 Hz; Plug Types: A & B (U.S. style), C
System of Government	Federal Presidential Republic
Name and Party Affiliation of Current Leader	Luiz Inacio Lula da Silva Worker's Party
Income Tax Rate for Residents	7.5% to 27.5% (2010)
Property Tax	0.5% to 4%
Capital Gains Tax	15%
Inheritance Tax	8%
Rental Income Tax	15%
Transfer Tax	variable depending on location (in São Paolo it is between 0.5% and 2%)
Sales Tax	17% to 25%
Restrictions on Foreign Ownership of Property
Local Chamber of Commerce	www.cni.org.br SBN-Quadra 01-Bloco C- Ed. Roberto Simonsen Brasilia-DF-CEP:70040-903 Tel: +55-61- 3317-9989
American Chamber of Commerce	www.amchamrio.com.br Praça Pio X nº 15 / 5º andar Candelária, Centro, Rio de Janeiro Tel: 55 (21) 3213-9200
Primary Exports	Transport equipment, iron ore, soybeans, footwear, coffee, autos
Residency and Visa Requirements	Tourist Visa: It needs to be acquired at a Brazilian Embassy/Consulate Residency: Businessman/Professional, Entreprenuer,Investor, Retiree, and High-Level Specialist visas Citizenship: uninterrupted residency of 15 years and clean criminal record; Investor Visa holders can apply after 4 years of residency
Special Benefits for Foreign Residents or Retirees	none
National Airline	VARIG www.varig.com