Chile Forum

From my personal experience and that of some of my friends: permanent residents are in the same position as Chileans when it comes to opening a checking account. The requirements are usually clear and simple - about a year of paid employment in Chile and at least $700 or so of income per month. In fact, I opened a checking account in Chile when I still was on a temporary visa, and MoneyGram transfer receipts were part of my proof of income (Pto Montt, 2001, BancoEstado). So everything is possible and doable, unless the crisis has made the whole matter much more complicated by now...

JHyre,

If your wife is a native Chilean, just check here:

http://www.bancoestado.cl/4CB34EB5D9404 ... 830D2F.asp

Bancp Estado runs a very unique program for chileans who reside abroad but want to buy a place in Chile, I have purchased two properties through the program, and I reside outside Chile, give a go.

Hugh

In our experience, the rules change from bank to bank, branch to branch, account executive to account executive. Most of the problems boil down to poorly trained employees, and employees that are scared to take any sort of risk.

I am living in Chile with my Chilean fiancee, we plan on getting married here next year. I work on a self employed basis for a Scottish company, and get paid in pounds. We've just started thinking about buying a house, and I gather the mortgage situation is very complicated.

Is it the case that even once I get my residency (I'm planning on waiting til we get married to apply) I will still have a problem getting a mortgage? Will it be easier as it will be joint with a Chilean, will they take my income into account?

Thanks!

spoggers wrote:I am living in Chile with my Chilean fiancee, we plan on getting married here next year. I work on a self employed basis for a Scottish company, and get paid in pounds. We've just started thinking about buying a house, and I gather the mortgage situation is very complicated.

Is it the case that even once I get my residency (I'm planning on waiting til we get married to apply) I will still have a problem getting a mortgage? Will it be easier as it will be joint with a Chilean, will they take my income into account?

Thanks!

You need to show you exist as soon as possible and start developing a credit rting, try get to a bank account in your name, start transfering money into chile, start spending money on your chilean cards, try to get a chilean credit card....

within 6 months you will start being offered credit from your bank if you show them a turnover of more than 1m pesos per month through your account....

and a cuenta rut is not a bank account...

@spoggers I've been in a similar position to this one. I earn money outside of Chile (in New Zealand), although I invoice from Chile & pay taxes and AFP etc here. I'm en tramite for permanent residency, and have a Chilean partner, although no plans to get married. My partner banks with Banco de Chile, and i've spoken to at least 5 Ejectivos there, all of whom tell me that even though I issue Chilean boletas, the bank will not take it into account because the Boletas are issued to foreign companies, so the bank cannot check that they are legit. So, even though I had a $43,000,000 peso deposit, there was no way I could get a mortgage. In order for them to recognise what I earn, it needs to be from Chilean sources. We found a house we wanted though, so I ended up borrowing the money in New Zealand..... way more risky on lots of levels, but absolutely zero drama. We wanted the house in my name, and not my partner's, because he's still in the divorce process and we want no more complications from the ex, who's already dragged the process out for 2 years. However, the bank would not even consider my earnings even if it had been a joint application.

APPARENTLY, (in caps, because who knows what the answer will be on the day) now that the house is in my name, we can get a mortgage for "fines generales", using the house as security and his income, so the mortgage is in his name against my property. Hopefully in a year or so, the divorce will be final and we'll pay off the NZ loan and have a mortgage here.

Bizarrely enough, because I am pregnant, I am now eligible for a "spouse" account. Again, they don't take into account my income for that, all based on my partner's income. I'm waiting for permanent residency so we can get a joint account, which means that I can do "tramites". Right now I have a red compra card on an account in my partner's name, but I can't actually go into the bank and sort out any issues.

Thanks for the input. I'm working on getting a job here, but I'm on a tourist visa so can't get a bank account? Sent my CV to lan, maybe I can get a job with them and go home once a year.

My name is Rachel too!