Chile has become an attractive destination for investors from around the world, thanks to its economic and political stability. If you’re looking to start a project or invest in the country, you need to know how to go about it. First and foremost, you must apply for the investor visa, which allows you to reside in Chile while managing your investments.
In this article, we will explain in detail how to apply for the investor visa in Chile, the necessary requirements, and the complete process.
Why do you need the Investor Visa in Chile?
The investor visa is a temporary residence permit granted to foreigners who wish to reside in Chile and make investments that contribute to the country’s economic development.
This visa is available to those planning to start a new business or acquire a significant stake in an already existing company in Chile. The visa initially lasts for one year, with the possibility of renewal and, eventually, application for permanent residency.
Requirements to apply for the Investor Visa
The National Migration Service (SERMIG) is the agency responsible for managing the investor visa in Chile. The basic requirements for applying are:
- Minimum investment: According to current regulations, a minimum investment of USD 500,000 must be made in a project that positively impacts the Chilean economy. This investment can be in sectors such as real estate, commerce, technology, and others.
- Investment project: You are required to submit a detailed investment project explaining the objectives, business plan, benefits for the country, and expected economic impact.
- Proof of capital: You must demonstrate that you have the necessary funds to carry out the investment. This can include bank statements, financial records, and supporting documents.
- Support letter from the Chilean Investment Agency: This letter is issued by InvestChile, the official investment promotion agency, and is a key requirement. You must present your project to obtain this letter, which will validate that your investment meets the established criteria.
- Criminal record certificate: Issued by the authorities of your home country, this document must prove that you have no criminal record. It must be duly apostilled or legalized.
- Valid passport: Your passport must be valid for at least 12 months from your date of entry into the country.
Step-by-step guide to applying for the Investor Visa
The process of applying for the investor visa involves several steps that must be followed carefully to ensure success. Here are the steps:
- Online application: The application must be submitted through the official platform of the National Migration Service. You must complete the corresponding form with your personal details and upload all required documents.
- Submit documentation: All documents must be clearly and legibly scanned, including the investment project, proof of capital, criminal record certificate, and passport.
- Present your project to InvestChile: In parallel with your visa application, you must submit your project to InvestChile to obtain the support letter. This process requires a thorough evaluation by the agency to ensure that your investment aligns with the country’s economic interests.
- Pay migration fees: After submitting your application, you must pay the corresponding fees for the migration process. The amount varies depending on your nationality and the nature of the application.
- Waiting period: Approval of the investor visa may take between three and six months. During this time, you must remain attentive to any notifications from SERMIG or InvestChile.
- Visa stamping: Once your visa is approved, you must go to the Migration Service office in Chile to have the visa stamped in your passport.
How the Investor Visa benefits you
The investor visa allows you to reside in Chile for up to 12 months, with the possibility of renewal for an additional year. During this time, you can actively manage your investments and enjoy the rights of a temporary resident. Additionally, this visa grants you work authorization, meaning you can be employed or run your own business within the country.
It’s important to note that, after two years of continuous residence, you will have the option to apply for permanent residency. Providing you with greater legal stability and access to additional benefits, such as the ability to apply for Chilean citizenship if you meet the requirements.
Renewal process for the Investor Visa
If you decide to renew your investor visa, the process must begin at least 90 days before your current visa expires. The renewal process is very similar to the initial application, and you will need to prove that your investment is still active and fulfilling the outlined goals.
After two years of temporary residence, you can apply for permanent residency. This process requires that you have not been outside Chile for more than 180 days in total during the two years that the temporary visa was valid.
Why choose Becker Abogados for your migration process?
The process of applying for an investor visa in Chile can be complex and requires flawless documentation submission as well as adherence to deadlines. At Becker Abogados, we have a team of specialists in immigration law who will guide you through each stage of the process, ensuring that your application is handled efficiently and quickly.
Contact Becker Abogados today to ensure the success of your investment in Chile.
