If you’re thinking about where you want to retire, add Brazil to your list. In addition to having good weather and beautiful beaches, Brazil also grants visas to retirees.

In the past, Resolution 45/2000 of the National Council of Immigration was in force. A retiree would get a permanent visa by confirming financial stability - meaning the ability to transfer at least US$2,000 to Brazil every month.

Last November, however, the rules for getting a retirement visa changed with the passage of RN40. Now, retirees get a temporary visa. And instead of just cash, other sources of income such as bonds and stocks can be used to meet the financial stability requirement.

The other general requirements to get the visa are the same. You have to go to your local Brazilian consulate in the US and ask for your visa. There you’ll fill out a form, pay the fees, and provide documents such as your passport, certificate of criminal records, and proof of retirement.

If you’re already in Brazil, the process changes slightly. You’ll have to ask for residency and provide the same documents to the Ministry of  Justice. The application is also a little different.

The initial term of the temporary visa and residency is up to two years, as decided by the Federal Police. If two years isn’t enough, you can always request to renew the visa or even ask for a permanent visa.

The retirement visa is just one more effort to energize the Brazilian economy by bringing more foreigners (and consequently more foreign investment) into the country.