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Retirement/Income based visa (Jubilado/Rentista) Residencies Plan of Chile (South America)
Retirement/Income based visa (Jubilado/Rentista)
There are no official, specific income level requirements. Usually a monthly regular income or pension of US$1,000-1,500 would be enough for a single applicant. Additional amounts may be required for dependents (spouse, children and parents).
The temporary residence visa will allow you to live one year within the country and apply for a work permit.
After one year you may apply for a permanent residency permit, provided that you still meet the income requirement, 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.
Permanent residence permit has a validity of 5 years, renewable. After 5 years of residency (including temporary visa), you may be eligible for citizenship. The process to obtain citizenship takes about 2 years. You will be required to attend an interview, have a good level of Spanish skills and knowledge of Chilean culture, traditions, values and history.
Requirements
For pensioners:
- 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.
Restricted Nationalities
No nationality is officially restricted
dual citizenship
Dual citizenship is recognized in Chile. You are not required to renounce your previous nationality to become a citizen of Chile.
Documents Required
- Certified copy of passport
- Tourism card
- One passport-size photo
- Proof of pension
- Proof of income
- Original or Certified copy of Marriage Certificate (if applicable)
- Original or Certified copy of Birth Certificate (if applicable)
- Affidavit of support for Dependents
- dual citizenship Yes
- Family members included Yes
- land ownership Yes
- Physical residence required Yes
- Personal visit required No
- Language skills required No
- Interview required No
- Investment Single -
- Investment Family 4 -
- Minimum annual income $18,000
- Time to citizenship 60
- Time to permanent residency 12
- Visa-free countries 157
- Financing available No
Chile
The Republic of Chile is a state in South America occupying a long, narrow strip between the coast of the Pacific Ocean and the Andes. It borders Peru to the north, Bolivia to the northeast, Argentina to the east, the Pacific Ocean to the west and the Drake Passage to the south. It has a population of more than 17 million inhabitants and its capital and most populated city is Santiago. Its official language is Spanish and its official currency is the Chilean Peso.
- National Flag of:Chile
- Currency:CLP
- Area Code:56
- Capital:Santiago
- Continent:South America
- Native Languages:Spanish
- Population:16,746,491
BENIFITS
With your new passport from Chile you'll be able to access 157 countries visa free
citizenship benefits Visa-free or Visa on arrival to 157 countries including United States Russia Schengen Area Low cost citizenship The right to live and work in Chile at all times and all the rights associated with membership of the Mercosur Access to educational and healthcare benefits Visa-free access to the United States Get one of the most valuable passport worldwide Visa-free access to Russia permanent residency benefits Travel visa-free across Mercosur Access to healthcare and education system The right to live and work in Chile without any time limit Be eligible for citizenship in a short period of time Fast and easy process temporary residency benefits Peaceful democratic and politically stable country Warm climate High quality of life Low cost of living Be eligible for permanent residency in a short period of time Fast and easy process Low cost programFEES
| ITEM | AMOUNT |
|---|---|
| total fees main applicant | $17 - $1388 (Depends on nationality of applicant) |
| processing fees spouse | $17 - $1388 (Depends on nationality of applicant) |
| total fees spouse | $17 - $1388 (Depends on nationality of applicant) |
| processing fees dependents -18 | $17 - $1388 (Depends on nationality of applicant) |
| total fees dependent -18 | $17 - $1388 (Depends on nationality of applicant) |
| processing fees dependents 18-25 | $17 - $1388 (Depends on nationality of applicant) |
| total fees dependent 18-25 | $17 - $1388 (Depends on nationality of applicant) |
| processing fees dependents +65 | $17 - $1388 (Depends on nationality of applicant) |
| total fees dependent +65 | $17 - $1388 (Depends on nationality of applicant) |
TAXES
To be a tax resident in Chile you must spend 6 consecutive months in the country in a year, or 6 non-consecutive months per year during 2 years.
Tax residents are subject to personal income tax on their worldwide income, and non-residents are taxed on their Chilean-source income.
However, non-Chilean nationals are taxed only in their Chilean-source income during their first three years of residency, and a three-year extension of foreign-source income exemption may be requested.
In Chile income is taxed separately depending on its nature. Employment income tax is paid monthly at progressive tax rates of up to 40% on income exceeding CLP 6,934,350.01 per month. Investment income, capital gains and business profits are subject to the Global Complementary Tax, which is also progressive up to 35%.
Controlled foreign companies (CFC) rules in Chile require resident taxpayers to include in their taxable income certain types of passive income earned by foreign companies, which hold 50% or more of capital, profits or voting rights, whether income is distributed or not.
Real property tax is levied on rural and non-rural properties at 1% and 1.2%, respectively. There is an inheritance tax. There are no taxes levied on net worth and on the transfer of assets.
The V.A.T. standard rate is 19%. Certain goods and services may be exempted or taxed at lower rates.
Regarding corporate taxation, resident entities are subject to tax on their worldwide income at a 25.5% rate (27% in 2018). To learn more about Chilean corporate taxation, legal framework and tax treaties, check out incorporations.io/chile.
| TAX ITEM | DESCRIPTION |
|---|---|
| Property tax | Yes |
| Transfer tax | No |
| Inheritance tax | Yes |
| Net worth tax | No |
| CFC law | Yes |
| Tax residency days | 183 |
| Personal income tax rate | 35% |
| Capital Gains tax rate | 35% |
| Investment income tax rate | 35% |
| Territorial taxation | Yes |
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