Chile offers residency by investment programs. It’s beneficial to many wealthy investors, especially those in a hurry for new citizenship. Naturalization can happen after only 5 years of residence in Chile.
– Financial Investment of $60 000 USD, but within three months of approving temporary residency, an investor needs to start their company in order to proceed with permanent residency.
– Foreign nationals who have invested for at least or intend to invest in Chile, as well as entrepreneurs conducting business or planning to set up a business in the country, may obtain a temporary residence visa.
– There are no officially specific investment or business requirements. Usually, this visa is obtained by investing in Chilean stocks or setting up a company with substantial economic activity in the country.
– Dependents such as a spouse, children, and parents may be included.
– The investor visa allows you to live for one or two years in Chile. After this period, you can apply for a permanent residency permit.
– After one year you may apply for a permanent residency permit, provided that you still keep the investment or business, you have spent at least 185 days within the country in a year and you have paid taxes. When applying for a permanent visa you must attach to your application a letter stating why you want to become a Chilean permanent resident and your ties with the country.
However, there are certain requirements that need to be followed with respect to this:
If you intend to invest or set up a business:
– Business plan or Investment plan.
– If the capital has been transferred to Chile, prove through bank or customs documentation or any document that demonstrates that you have capital in Chile that will allow you to make the declared investment and that you possess the means to support yourself and your dependents in the country.
– If the capital has not been transferred to Chile, prove, through any suitable document in your name, that you have capital abroad that will allow you to make the declared investment and that you possess the means to support yourself and your dependents in the country.
B. If you have already invested or started a business:
– Demonstrate transfer of capital to the country, corresponding to the money contributed to the company by the person applying for residence.
– If the capital has been transferred to Chile, prove through bank or customs documentation, or any document that demonstrates you have capital in Chile, which will allow you to make the declared investment and that you possess the means to support yourself and your dependents in the country.
– If the capital has not been transferred to Chile, prove through any suitable document in your name that you have capital abroad that will allow you to make the declared investment and that you possess the means to support yourself and your dependents in the country.
– Deed of the constitution of the society and later modifications.
– Initiation of activities of the Internal Revenue Service (S.I.I.) and declaration of the modifications of the company in this organization.
– Proof of payment of municipal taxes.
– Contract of lease, sale, or deeds of property, which support the development of the project.
– Invoices of purchases/sales.
– Last Balance Sheet or Pre-Balance by the Counter.
– Last Statement of Income Tax (if applicable).
– Payment of VAT for the last three months.
– The payroll of contracted workers, with their respective historical certificates of social security payments.
– To accredit the authorization of the competent authorities to carry out economic activity in the determined zone.
– It allows you to live for one year in Chile.
– The retirement visa is one of the most commonly granted visas to live in Chile.
– A pensioner or Renter’s Visa is a temporary residency visa that applies to applicants that are retired and have a retirement pension or the means to support themselves.
– You must show that you have approximately $1,500 (plus $500 per additional family member) to support yourself without needing to draw on social benefits. You’re also able to start a business under this visa.
– 1 photocopy of the last 3 monthly payments of retirement income or pension, duly legalized, or
– 1 photocopy Certificate from the Consul of the country of origin certifying the pension or retirement income in national currency (Chilean Peso, CLP) or equivalent in US dollars, legalized before a notary.
For persons of independent means:
Proof of regular passive income, through the presentation of lease contracts held in Chile or abroad, or other similar documents that indicate the periodical obtaining of economic resources. Whatever the document, you must present a photocopy notarized before a notary.
The requirements and qualifications required to obtain Chile residency or citizenship are listed above in the “About Chile Citizenship and Residency” section.
All applications need to be submitted through National Migration Service´s website available at the following link: https://tramites.extranjeria.gob.cl/.
After you access the website, select the language in the top-right corner. Click on “Visa Application”. You will be redirected to the application/registration page where you have to give your age, passport number, country of residence, and nationality. After you give your country of residence, you will be notified which Chilean consulate will handle your application. That’s where you must submit your passport and documents.
Once you complete the first section, you will receive a Verification/Validation code. Save it because you’ll need it to resume your application where you left off in case you need to obtain additional documents. After you complete each section of questions, press “Save and Continue” to move on to the next.
In the final section, you must attach electronic copies of all the required documents.
Once your online visa application is processed and approved, you will be contacted via email to receive an appointment at the Chilean consulate.
Privacy World offers its services to anyone, not only looking to obtain residency and/or citizenship processes but our experts figure out legal ways to:
Privacy World can also help you with incorporating your company in Chile, assisting in getting you settled in the country and coordinating with you so that this experience will be less of a hassle.
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Yes. Dual citizenship is recognized in Chile.
Yes. No matter which visa option you choose, you can bring your spouse and minor children with you to live in Chile. No additional investment needs to be made.
It takes one year before you may apply for a permanent residency permit, provided that you still keep the investment or business, you have spent at least 185 days within the country in a year and you have paid taxes.
After five years of residency in Chile, you can apply for naturalization and obtain a passport.
Yes, the rules are strict about requiring 185 days in the country before you can apply for permanent residency.
A permanent residence permit will be valid for five years and maybe renewed as many times as you’d like.
Once you have permanent residency, you only need to step foot on Chilean territory one day each year to maintain it.
Absolutely. You are free to travel outside Chile while they process your request.
No nationality is officially restricted.
There is a Spanish language exam and a Chilean culture and history exam.
For temporary and permanent residence, one is not required to speak the language or know the Chilean culture.
There is no interview during the application process for either of these permits.
You must send your application for permanent residency within 90 days before the expiry of your temporary visa.
Tax residents who spend 6 consecutive months in the country in a year, or 6 non-consecutive months per year during 2 years are subject to personal income tax on their worldwide income.
Non-residents are taxed on their Chilean-source income.
Yes. Real property tax is levied on rural and non-rural properties at 1% and 1.2%, respectively.
Yes. There is an inheritance tax.
No. There is no net worth tax in Chile.