Chile is regarded as South America’s most stable and rich country, with appealing commercial and investment prospects in sectors such as energy and real estate. This is one of the reasons why so many foreigners go to Chile. Because foreign investors do not intend to stay in Chile on a permanent basis, Chilean law does not require them to get a visa or residence permit. Foreign investors who expect to stay in Chile for more than 90 days as a result of their activities or interests in the country can apply for a one-year Temporary Investor and Businessperson Visa.
The conditions for acquiring this visa vary depending on whether the investment project is still in the planning stages or is up and running.
- Real estate: Invest in the real estate business by purchasing and renting a property or a structure in Chile. There are several options right now if you have adequate dollars and can buy cash without using credit. Chileans like to buy on credit. As the market has recently plummeted, several owners have been compelled to sell at attractive prices.
- Finance: if you hold shares in a firm, you can invest in stocks, purchase or sell securities on the financial markets, and earn dividends that reflect a portion of the company’s revenues. Because it is still a developing market, the yield on some securities is higher than that on securities issued by firms established in the United States or Europe.
- Technology / IT: This is a growing area, especially since Chile owns Start-Up Chile, South America’s largest incubator, which allows you to invest in promising start-ups. Foreign investors are encouraged by Chile’s innovation agency.
- Transportation: a recent trend is to invest in parking spaces, which, depending on their location, can be quite beneficial.
- Energy: you can put your money into Chile’s booming mining industry. Be aware that mining concessions are subject to a lot of speculation. Another alternative is to make a direct stock market or crowdsourcing investment in green energy. To encourage the development of small renewable energy projects in specific areas, the Chilean government guarantees the price at which distribution companies buy electricity for a set length of time.
- Create an investing account with securities, cash, or other assets.
You must produce the following documents if you wish to invest or start a business in Chile:
- Plan for a business or investment
- A document demonstrating that you have sufficient funds to invest. Be aware that the documentation to transmit will differ depending on whether the capital has already been transferred to Chile or not.
- a certified copy of your passport
- a passport-sized photograph
- Income / net worth proof
- Agreement on the selling and acquisition of real estate
- Marriage certificate (original or certified copy)
- Birth certificate (original or certified copy)
- Card for tourism
Due to recent changes in Chilean immigration law, the visa application process has been extensively modified. There are two possibilities:
- A tourist visa allows you to visit Chile. You apply for an investment visa in Chile by sending a registered letter to the immigration department in Santiago with all of your documentation (or in the immigration office of the region where you are based).
- For this visa, you must apply at a Chilean consulate outside of Chile. Be warned that certain countries do not have access to the internet.
- Even if you don’t have a great company strategy, the investor visa in Chile allows you to quickly obtain a temporary residency for your first year. However, obtaining permanent residency with this visa type is tough. The immigration department will look at your business strategy, balance sheet, and income to see if it generates enough money for you and your family to live comfortably.