Facts and Figures: Chile

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Facts About Chile

Reviewed by Kathleen Peddicord

Kathleen is the Live and Invest Overseas Founding Publisher. She has more than 30 years of hands-on experience traveling, living, and buying property around the world.

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.

Here is a compilation of Chile’s facts and figures…

Information TypeChile Data
Population19,116,201 (June 2020 est.)
Gross Domestic Product (GDP)US$306 billion (2020 est.)
GDP Per CapitaUS$16,500 (2020 est.)
Inflation Rate3.37% (2020 est.)
CurrencyChilean pesos (CLP)
Exchange Rate Versus U.S. Dollar817.30 Chilean pesos per U.S. dollar (June, 2020)
LanguageSpanish (official), Mapudungun, English
Population of Capital City6.767 million (2020 est.)
Time ZoneGMT – 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)
SeasonsThere 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 Code56
Electricity220V / 50Hz: Plug Type: C L
System of GovernmentRepublic
Name of Current LeaderPresident Sebastian Piñera (since, 2017).
The President is both the chief of state and the head of government.
Income Tax Rate for Residents22% to 30%
Property Tax1% to 1.2%
Capital Gains Tax20% to 25%
Inheritance TaxLevied on the net value of assets transferred at death.
Real Property Tax1.2% for urban property and 1% on rural property.
Transfer TaxNo
Sales Tax19%
Restrictions on Foreign Ownership of PropertyIt 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 Commercehttp://www.ccs.cl/
Calle Monijitas 392,
Santiago, Metropolitan Region, Chile
Tel: 562-2360 7000
Email: cpn@ccs.ci
American Chamber of Commercehttp://www.amchamchile.cl/
Kennedy Avenue 5735,
Torre Poniente, office 201,
Las Condes, Santiago, Chile
Tel: 562-2290 9700
Primary ExportsCopper, fruit, fish products, paper and pulp, wine, and chemicals.
Residency and Visa RequirementsResidency 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 RetireesYou can apply for loans and mortgages with a permanent visa.
National Airlinewww.lan.com

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