Owning Real Estate In Chile does not get you residency.

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Owning Real Estate In Chile does not get you residency.

Post by admin » Mon Jul 08, 2013 3:11 pm

Thought this should be added to the list of myths floating around, because I consistently seem to get emails from people that think owning real estate entitles them to residency or even citizenship. Not sure where they get that from, but they do. In fact it has become more common recently, so I suspect one of the "expat experts" selling real estate is pushing this recently. It is simply false.

Owning real estate in Chile is neither a sufficient nor necessary condition for residency or citizenship in Chile.

It neither helps you nor hurts you. It is just another asset to prove you have means to support yourself. As far as immigration to Chile is concerned, it is no more useful for applying for residency in Chile than owning real estate in any other country of the World.

We know hundreds of people that live in Chile, have obtained residency, and never bought a piece of property in Chile. They just rent.

We also know hundreds of people that DO own property in Chile, and still must prove just like the people above that they have resources to support themselves besides the real estate they own (i.e. they must meet the periodic income requirement).

Now, from my perspective, it would be wonderful if that is all it took; but, for now, it takes more than owning real estate to apply for residency.
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