January 11, 2017 at 8:56 am #309279
I left Brazil in April 2016 after nearly 10 years, and it was a busy, busy year. I’m now in the USA. I didn’t get citizenship, only permanent residence. No definite plans, but I may return to Brazil after a few years and intend to visit every two years to maintain that residency status. I’m married to a Brazilian and would transfer/wire anything to her if it makes a difference and can be done from abroad.
Now I’m obliged to consider my 2016 taxes for DIRPF’17, and money left in Brazil, and I’m not sure what’s best.
If anyone knows of a tax accountant (need not speak English, but should understand the ins/outs of leaving the country), please mention. I didn’t actually find a clear winner on google. If you have any knowledge yourself, please read on…
I have some modest savings in an online investment account, and a Brazilian bank account still open. Both in my name, not my spouse’s.
I didn’t plan to leave Brazil back when those savings were put into an illiquid CDB that’ll only mature in mid-February 2017, so I couldn’t take it with me when I left.
I’ve read that there is a “Declaracao de Saida Definitiva do Pais” (DSDP), that is to be submitted before the end of February of the year after one leaves, and that after that taxes are declared by April 30th. What I don’t understand is what effect the DSDP will have on my taxable income for 2016, in the context of my American income.
I’m also unsure about whether I’m obligated to take my money out of Brazil or close investments once I become a non-resident for tax purposes and/or send my DSDP, and what the consequences would be if I leave the money there anyway. If possible, I’d like to leave it there earning a nice multiple of CDI for years as a diversified investment and avoid taking it out at the current lousy exchange rate, but faintly recall there being restrictions on non-resident foreigners investing directly.
My wife was my dependent in Brazil and was included in my DIRPFs in all prior years. How viable would it be to transfer everything to her name, given that she’s also left the country?
I understand this is technical, but if you know of a decent professional, article, or know something yourself, it’s much appreciated!
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