Page 2 of 3

Re: Paying for property/moving funds into Chile

Posted: Tue Jan 08, 2019 9:05 am
by Gloria
onehappycloud wrote:
Tue Jan 08, 2019 9:02 am
Hahaha... have you heard of ppl having properties in other countries they live in?
You should look into Bolivia. they have nice properties right by the ocean and don´t need documents. :alien:

Re: Paying for property/moving funds into Chile

Posted: Tue Jan 08, 2019 11:41 am
by onehappycloud
Thank you, but Am not interested in Bolivia and houses by the ocean;) I like Chile

Re: Paying for property/moving funds into Chile

Posted: Tue Jan 08, 2019 11:43 am
by eeuunikkeiexpat
Let us know how it goes.

Re: Paying for property/moving funds into Chile

Posted: Tue Jan 08, 2019 12:58 pm
by at46
onehappycloud wrote:
Mon Jan 07, 2019 10:37 pm
I don’t have an account in Chile. And it seems impossible to open one without a valid local ID
You're not catching on to what I just told you. Anyway, good luck with your project.

Re: Paying for property/moving funds into Chile

Posted: Tue Jan 08, 2019 6:47 pm
by onehappycloud
at46 wrote:
Tue Jan 08, 2019 12:58 pm
onehappycloud wrote:
Mon Jan 07, 2019 10:37 pm
I don’t have an account in Chile. And it seems impossible to open one without a valid local ID
You're not catching on to what I just told you. Anyway, good luck with your project.
May be you know something I don’t, please share then.
I was in Chile until just some days ago, and did personally try to open at 3 banks (de chile, estado, santander) ANY account... it simply doesn’t work without a valid local ID, which you get only after you get visa etc.... Not even at B d estado, which I learned is the most easy one (you have to have RUT AND live in chile for 1 year to do it).
I believe it had to do with money laundry laws, the banks simply need to control ppl who have accounts there. Chile is not an offshore country.

Re: Paying for property/moving funds into Chile

Posted: Tue Jan 08, 2019 6:58 pm
by eeuunikkeiexpat
Hint: fondo mutuo account for non-resident foreigners.

Re: Paying for property/moving funds into Chile

Posted: Tue Jan 08, 2019 7:10 pm
by onehappycloud
Thank you! I wonder why they didn’t offer that... I asked if I can open ANY account and buy ANY products they have...will try again.

Re: Paying for property/moving funds into Chile

Posted: Tue Jan 08, 2019 7:32 pm
by at46
You've got to talk to the investment branch people at Banco de Chile to open a fondo mutuo. No one else will know. Takes about two weeks and you need to show documents proving the source of funds. That would be your most useful account at least till you get your temporaria/permanencia, and even after, because of very low fees for in and out transfers.

You can also make a swift transfer into their transit account using your own name and temp RUT. They'll pinch you on the exchange rate on that one, but it's not too bad.

Re: Paying for property/moving funds into Chile

Posted: Tue Jan 08, 2019 9:13 pm
by onehappycloud
This is very helpful, thank you a lot! Should have talked to you a week earlier. I will ask someone to go there and check it for me. The house buying stuff takes time anyway and I may need to fly over if this path is possible. Do you know if anything should be validated from abroad? It seems many things should be translated and validated. May I also ask you when did you or anyone else managed to to this last time? Am asking as much info online is outdated, like for example procedures to get a temp RUT (which I have now). Thank you again!

Re: Paying for property/moving funds into Chile

Posted: Tue Jan 08, 2019 9:32 pm
by at46
onehappycloud wrote:
Tue Jan 08, 2019 9:13 pm
This is very helpful, thank you a lot! Should have talked to you a week earlier. I will ask someone to go there and check it for me. The house buying stuff takes time anyway and I may need to fly over if this path is possible. Do you know if anything should be validated from abroad? It seems many things should be translated and validated. May I also ask you when did you or anyone else managed to to this last time? Am asking as much info online is outdated, like for example procedures to get a temp RUT (which I have now). Thank you again!
If you've got a sales contract for your house in the States, for example, that would do and no need to translate it. I've been using my fondo mutuo account at Banco de Chile for over 5 years now starting when I first got my tourist RUT. I received a few transfers from EU via their transit account over the last few months. All it is is that if you've got a fondo mutuo, they can put the incoming money there (or into your cuenta corriente when you have one), or will give it to you right away in cash or vale vista if that's what you want. It's better to have a fondo mutuo for property buying purposes, because you can get them to issue vale vistas for specific amounts/names of people stipulated in your buying contract.

Re: Paying for property/moving funds into Chile

Posted: Tue Jan 08, 2019 9:49 pm
by onehappycloud
Great info! Will try now

Re: Paying for property/moving funds into Chile

Posted: Wed Jan 09, 2019 10:56 am
by chesswolf
Let me insert that it's at BanChile, not Banco de Chile. They often have offices inside the Banco de Chile locations (or Banco Edwards locations) but they are a separate entity. And yes, you want Fondos Mutuos. That's how I brought large amounts of money to purchase my home. I gave them a ton of paperwork to prove how I got the money and to make sure they didn't deny the transfer, but they acted like they really didn't need everything I gave them.