What Makes Living In Panama A Wonderful Experience
It’s been nearly two full years since I packed my bags and left the tropics. I...
Read moreChile 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 |
