Chile Forum

Best I can tell you is talk to the Chilean bank. Every bank is different.

The two things in general though you must prove:

Where the money is coming from and where it is going. The purchase of the property covers where it is going to go on the Chilean end. You might have problems however with the funds not coming from your own account in the States.

Unless you have your buy / sale agreement already signed, never send money to a seller directly.

Should the funds be converted to Pesos before or after the transfer? If the money is wired in US funds how do you know exactly how much to send due to fluctuations in the exchange rate? How would you handle an overage or shortage?

I recently married a Chilean, could the money be wired to her account? Could we then use her account to buy the property? I know that before the marriage, without residency, obtaining a bank account in my name would be very problematic. What about now?

Thanks for all your insight.

It is all going to depend on the bank. Talk to the bank.

Your lawyer should be handling all of this.

Just questions that came to mind on the flight back to the US. I trust my lawyer but to be honest, I'm sure he hasn't handled transactions with foreigners before.

admin wrote:You can own property, cars, whatever without a visa. Your mortgage is up to the terms of your mortgage.

Thanks - I am just confused on the type of RUT that would be needed. Since I am working here now I have RUT y carnet. Does this change if you no longer work here but still own property vehicles etc? I guess my question boils down to the things you can do with and without this carnet. Example register a vehicle, open - or in my case maintain a bank account sign up for VTR, electric companies, water.....and so on.

Also I seem to remeber some discussions on a visa that can be given to retirees if they can demonstrate some level of income? Also is there a minimum age that prequalifies for this visa.

Cheers,

L

The RUT issued by the irs until you have residency is temporary. It still works, the property is still yours, just if you go to do something (e.g. buy another car or property a year later) you may need to have it reactivated. Little gap in the beucracy.

Age has nothing to do with the retirement and periodic income visa. It is about periodic income from outside the country. We have lots of relatively young clients, many with children that are very young, all in Chile under that visa.

From another post

Postby tombrad2 on Sun Jul 29, 2007 2:08 pm
"Well, tax "radar" in Chile is very weak unless you have a paid job under contract. Both for chileans and people from overseas IRS do not mess you unless you:
1.- Buy a property
2.-Buy a car/vehicle
3.-take a "deposito a plazo" or similar investment
As long as you spend your income in wine, woman and songs, you will never be molested by Impuestos Internos"

Judging from what I have read elsewhere on this site, it looks like I may have to pay taxes on the purchase of this house sometime down the road. I didn't plan on getting residency any time soon and I work and am paid outside of Chile so I shouldn't be taxed by Chile on my income. Am I interpreting this correctly?