Country Profile:

Chile, located on the western side of South America, is one of the world’s most slender countries.

Key sectors such as mining, agriculture, manufacturing, and tourism form the backbone of Chile’s economy. The World Bank ranks Chile among the high-income economies and as one of the most prosperous nations in South America. It is projected that from 2023 to 2028, Chile’s economy will grow by 23.9%. Despite this economic success, the significant income disparity remains a pressing issue that the country must address.

Capital: Santiago

Population: 19,629,588  (2023, 65th)

Ethic Group: 64% European,  30%Mestizo

Area: 756,101.96 km² (37th)

Offical Language: Spanish

Currency: Chilean peso (as of April 23rd, 2024, 1 Chilean peso = 0.0011 USD)

GDP per Captial: $29,934 (2023, 64th)

How To Become A Resident In Chile:

Chile offers a variety of temporary residence permits to foreigners, including family reunification, work, investment, business, retirement, and passive income visas.

For an investment visa, a foreigner must invest more than $500,000 locally.

To qualify for a passive income visa, a foreigner needs to demonstrate a stable monthly income exceeding $1,500.

The retirement visa can be obtained in one of two ways: by proving a monthly retirement income of over $1,500, or by showing personal net assets of more than $125,000.

Excluding seasonal work visas, all Chilean temporary residence permits have a validity of up to two years and can be renewed under the same conditions once expired.

Dependents such as the spouse, parents, children under 18, and children between 18 and 24 who are still studying can also settle in Chile under the dependent visa.

Generally, foreigners must live in Chile for two years before they can apply for permanent residency. However, those who are in the country on family reunification, investment, and passive income visas may apply for permanent residency after legally residing for one year (living at least half of the year in Chile).

It’s important to note that when reviewing applications for permanent residency, Chilean authorities will check the conditions under which the original visa was granted, such as whether the passive income still exists, whether the net assets for the retirement visa are still maintained, and the operating status of the company under the investment visa.

Permanent residency in Chile is indefinite, but leaving Chile for more than two consecutive years will result in the loss of this status. To avoid this, permanent residents can apply for an extension of their residency period at a Chilean consulate abroad as the two-year mark approaches.

After five years of legal residence, a foreigner can apply to become a Chilean citizen.

Passive Income Visa:

Who is eligible for a Chilean Passive Income Visa?

Chile’s passive income visa is granted to foreigners who earn a stable monthly income exceeding $1,500 from passive sources such as financial assets (deposits, stocks, bonds, dividends) or real estate income (rent). For each additional dependent on the application, the required monthly income increases by $600.

There are two important points to note regarding this income requirement:

1. The income must be passive, meaning it cannot come from any form of employment or active income;

2. While the Chilean government does not officially specify a minimum monthly income of $1,500, this figure is widely recognized as the standard in practice.

How to apply for a Chilean Passive Income Visa?

Most long-term Chilean residence permits can be applied for online from abroad. The application process generally include:

1. Access the Chilean online visa application system (https://tramites.minrel.gov.cl, available in Spanish and English). Select the category “Retired foreigners or leasers” and click on “Apply for Residencia Temporaria”. Register and provide basic information such as age, telephone number, nationality, and residence, and upload all required documents.

Someone will perform a preliminary review of your data, which typically takes about 30 working days. If the review is successful, you will be notified to attend an in-person interview at a designated Chilean consulate.

Required documents include a passport valid for more than 6 months; a criminal record certificate from the past five years for each applicant aged 18 and over; proof of income; proof of relationship between main applicants and dependents; a medical certificate from the past six months; a financial support declaration for children in the family by the main applicant; and filled application and personal information forms.

2. After passing the preliminary review, you need to bring your passport and all required documents to the designated Chilean consulate for an in-person interview to obtain the visa.

3. Upon receiving the visa and arriving in Chile, you must complete two tasks within 30 working days: register at a Chilean police station to receive your PDI (Policía de Investigaciones de Chile) identification, and go to the Chilean Interior Ministry to obtain your Chilean ID. Afterward, you are free to live locally.

Retirement visa:

Who is eligible for a Chilean retirement visa?

The Chilean retirement visa requires applicants to be at least 55 years old, and can be obtained through one of two methods:

1. Demonstrate financial independence by showing a net personal asset of $125,000 for an individual applicant. An additional $25,000 in assets is required for each dependent included in the application. These assets are ideally held in stock accounts, bank deposits, retirement funds, or real estate.

2. Alternatively, applicants can qualify by proving a monthly retirement pension of more than $1,500. This method grants a one-year visa, which is shorter than the typical two-year visa but can also be renewed indefinitely.

How to apply for a Chilean Retirement Visa?

Most long-term Chilean residence permits can be applied for online from abroad. The application process generally include:

1. Access the Chilean online visa application system (https://tramites.minrel.gov.cl, available in Spanish and English). Select the category “Retired foreigners or leasers” and click on “Apply for Residencia Temporaria”. Register and provide basic information such as age, telephone number, nationality, and residence, and upload all required documents.

The online system will perform a preliminary review of your data, which typically takes about 30 working days. If the review is successful, you will be notified to attend an in-person interview at a designated Chilean consulate.

Required documents include a passport valid for more than 6 months; a criminal record certificate from the past five years for each applicant aged 18 and over; proof of income or/and assets; proof of relationship between main applicants and dependents; a medical certificate from the past six months; a financial support declaration for children in the family by the main applicant; and filled application and personal information forms.

2. After passing the preliminary review, you need to bring your passport and all required documents to the designated Chilean consulate for an in-person interview to obtain the visa.

3. Upon receiving the visa and arriving in Chile, you must complete two tasks within 30 working days: register at a Chilean police station to receive your PDI (Policía de Investigaciones de Chile) identification, and go to the Chilean Interior Ministry to obtain your Chilean ID. Afterward, you are free to live locally.

Investor Visa:

Who is eligible for a Chilean investor visa?

Similar to the retirement visa, there are two pathways for applying for a Chilean investor visa:

1. Invest $500,000 in Chile, where the investment must directly produce marketable products or services;

2. Alternatively, a foreigner must own more than 10% of the voting shares or publicly traded stocks of a Chilean company, and hold a senior leadership position or a specialized technical role within the company.

The investor visa is valid for two years. If you wish to convert your investment visa into permanent residency after two years, you must retain your investment or shareholding until you obtain permanent residency.

How to apply for a Chilean investor visa?

The application process for a Chilean investment visa includes three steps:

1. Complete your investment and collect all documents required by the Foreign Investment
Promotion Agency of Chile and the Chilean Immigration Service. Submit these documents to the Foreign Investment
Promotion Agency of Chile (https://www.investchile.gob.cl/) for review. If your project meets their criteria, they will issue an approval letter.

Required documents include a passport valid for more than six months; a criminal record certificate from the past five years for each applicant over 18; proof of investment; proof of relationship between main and dependent applicants; a medical certificate from the past six months; a declaration of financial support for any dependent children by the main applicant; and completed application and personal information forms.

2. Outside of Chile, log in to the Chilean online visa application system at https://tramites.minrel.gov.cl (available in Spanish and English) to submit your investor visa application. It’s important to note that Chile has stopped accepting investor visa applications from visitors who are already in the country.

3. Upon receiving the visa and arriving in Chile, you need to complete two tasks within 30 working days: register at a Chilean police station to receive your PDI (Policía de Investigaciones de Chile) identification, and visit the Chilean Interior Ministry to obtain your Chilean ID. After these steps, you are free to reside locally.

Start-up Visa:

Foreigners who establish a high-tech company in Chile and have relevant high-tech business management experience can apply for a Chilean Start-up Visa.

Additionally, Chile extends the provision of a yearly short-term visa designed for foreign investors and business professionals. Typically, these visas necessitate the applicants to exhibit an intention to invest a minimum of $60,000 and to fulfill the investment or initiate the company within three months of receiving the visa.

Work Visa:

Foreigners can only apply for a work visa to work locally after obtaining a job contract from a Chilean company.

As a rule, a local company can petition for a visa for their foreign employees if they satisfy the following criteria. 

1. The company operates within Chile.

2. The employment of foreign personnel contributes positively to Chile’s development.

3. The company has maintained good standing with regard to tax payments and employee insurance contributions over the previous three months.

The entire process of applying for a Chilean work visa can be carried out online. Unless specifically instructed otherwise,applicants are required to submit the following documents: a visa application letter and an employment contract from the Chilean company; proof of the applicant’s education and other work-related qualifications; passport-sized photos; photocopies of the relevant pages of the applicant’s passport with more than six months of validity. Proof of no criminal record; proof of health insurance recognized locally; an application form detailing the applicant’s past experiences (this form can be in English, most others require a Spanish format).

The standard procedure involves: finalizing the work contract — applying online and submitting documents — being contacted by the Chilean embassy/police station and scheduling an interview — conducting the interview, submitting original documents, having the passport stamped, and paying the visa fee (usually ranging from $50 to $150, depending on location) — receiving the work visa, registering at a local police station within 30 days of arrival in Chile, and obtaining a Chilean identification card for foreigners.

On average, the Chilean work visa’s processing time spans 15 to 20 business days. Including the time for the interview, applicants should expect to receive their visas within 30 to 60 days from the date of submission of their documents.

The Chilean work visa carries a maximum validity of two years. Foreign employees can submit an application for an extension up to 90 days prior to the visa’s expiration.

Passport Power:

Chile recognizes dual nationality and its passport ranks 16th in the world. Passport holders can travel freely (visa-free or visa-on-arrival) to 177 countries and regions worldwide (as of April 23, 2024).

Chile and South Korea are the only countries whose passports allow visa-free access to both the United States and Russia. Additionally, Chile is the only Latin American country whose passport grants visa-free access to the United States.

Most Latin American nationals, including those from Chile, can directly apply for Spanish nationality after living in Spain for two years.

Chile is part of the Southern Common Market (MERCOSUR).As shown in the figure below, citizens of the member countries of this agreement can freely work and live in any other member country. After two years, if one can provide proof of financial means to support oneself and family, they can directly obtain a permanent residence visa in the country of residence. Having Chilean citizenship is very convenient for living in South America.

Useful Links:

Chilean Visa Online Platform：https://tramites.minrel.gov.cl/

SERMIG: https://serviciomigraciones.cl/en/citizenship/

Invest Chile: https://www.investchile.gob.cl/