Retiring in Brazil might not be such a bad idea. After all, who wouldn’t want to spend more time watching soccer and sipping caipirinhas on the beach? With a retirement visa, you can live in Brazil year-round.

In the past, we wrote about Brazil’s retirement visa. Retirees can apply for the visa if they can prove they’re retired and can transfer at least US$2,000 per month to Brazil, or they’re the beneficiary of a death benefit in the same amount. Funds from other sources can also be used to reach the threshold.

The specific requirements for the visa are set out in Immigration Resolution 40/2019 and include the typical documents necessary to apply for most Brazilian visas. For example, you’ll need a valid passport, health insurance, an airline ticket or flight itinerary, and an FBI background check. There’s also a US$290 application fee.

Assuming you qualify, you’ll be granted a temporary visa plus an initial period of two years of residency. And if you continue to meet the requirements, you can apply to extend the residency period.

The good news is that if you’re already in Brazil, there’s no need to return to the US to apply. The law allows for a visitor, for instance, to obtain residency in Brazil so long as the proper documents are filed.

If a retirement visa is something you’re considering, just make sure you consider the tax consequences. You’ll ultimately become a tax resident in Brazil and subject to local taxation.