The Cost Of Living In Belize Is Cheaper Than You Think
Can you afford to live in Belize? The simple answer, I'd bet, is yes. But the...
Read more
Facts and Figures: Chile
Facts About Chile
Chile is an interesting country with a diverse landscape and culture. There are many unique facts about Chile, including having one of the world’s longest coastlines, six UNESCO world heritage sites, and the famed Easter Island. In fact, Chile is the longest country in the world, extending a staggering 38 degrees of latitude! Chile’s Atacama Desert is the driest desert in the world.
| Information Type | Chile Data |
|---|---|
| Population | 19,116,201 (June 2020 est.) |
| Gross Domestic Product (GDP) | US$306 billion (2020 est.) |
| GDP Per Capita | US$16,500 (2020 est.) |
| Inflation Rate | 3.37% (2020 est.) |
| Currency | Chilean pesos (CLP) |
| Exchange Rate Versus U.S. Dollar | 817.30 Chilean pesos per U.S. dollar (June, 2020) |
| Language | Spanish (official), Mapudungun, English |
| Capital | Santiago |
| Population of Capital City | 6.767 million (2020 est.) |
| Time Zone | GMT – 4 (1 hour ahead of Washington D.C. during Standard Time) Daylight saving time: + 1 hour (new pilot program that begins on the second Sunday in September and ends on the fourth Sunday in April) |
| Seasons | There are four seasons in most of the country: Summer (December to February), autumn (March to May), winter (June to August), and spring (September to November). Temperate: Desert in the north, Mediterranean in the central region, and cool-damp in the south. |
| International Dialing Code | 56 |
| Electricity | 220V / 50Hz: Plug Type: C L |
| System of Government | Republic |
| Name of Current Leader | President Sebastian Piñera (since, 2017). The President is both the chief of state and the head of government. |
| Income Tax Rate for Residents | 22% to 30% |
| Property Tax | 1% to 1.2% |
| Capital Gains Tax | 20% to 25% |
| Inheritance Tax | Levied on the net value of assets transferred at death. |
| Real Property Tax | 1.2% for urban property and 1% on rural property. |
| Transfer Tax | No |
| Sales Tax | 19% |
| Restrictions on Foreign Ownership of Property | It is possible for a foreigner to borrow for the purchase of real estate in Chile but only as a resident. You would have to be a resident for a number of years before a bank would consider lending. Chile does not offer an invest-for-residency program whereby the purchase of property qualifies you for a visa. You would need to seek residency independent of any real estate purchase. |
| Local Chamber of Commerce | http://www.ccs.cl/ Calle Monijitas 392, Santiago, Metropolitan Region, Chile Tel: 562-2360 7000 Email: cpn@ccs.ci |
| American Chamber of Commerce | http://www.amchamchile.cl/ Kennedy Avenue 5735, Torre Poniente, office 201, Las Condes, Santiago, Chile Tel: 562-2290 9700 |
| Primary Exports | Copper, fruit, fish products, paper and pulp, wine, and chemicals. |
| Residency and Visa Requirements | Residency is easy to establish and comes with a path to citizenship. You can apply by mail and no background check is required for U.S. or Canadian citizens. Citizenship requires five years of residency. A simple application is required with no test. |
| Special Benefits for Foreign Residents or Retirees | You can apply for loans and mortgages with a permanent visa. |
| National Airline | www.lan.com |
More Resources From Chile
PLACES
ECONOMY
OTHER RESOURCES
Popular Articles
No Content Available
Today’s Top Markets For Maximizing Your Declining Dollar Discount
The U.S. dollar came to life in 2014, after years in the doldrums. It gained dramatically against many of the...
Read moreChile Articles
The 5 Best Easy Options For Establishing Residency Overseas
Moving your life abroad is one of the most rewarding things you can do, but this life-changing shift inevitably involves lots of research, organization, and paperwork. One of the biggest obstacles to overcome when moving to another country is obtaining a visa or residency permit. This is often a complicated and lengthy process, with ever-changing stipulations for each country. When applying for a visa or residency abroad, a background check is usually required as a part of the process. Depending...
Read more
