Income Tax on Foreign Income

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bones
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Re: Income Tax on Foreign Income

Post by bones » Tue Nov 24, 2020 3:31 pm

When you say "worked" in past tense which I have bolded I assume a mistake there and you mean "work" in present tense.
You are correct. Currently employed.
Your three year period would likely have started from when you arrived in Chile to live here, rather than when your temp residency was approved.
Yep, I'm counting from arrival date, which was January 2018.

paladin
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Re: Income Tax on Foreign Income

Post by paladin » Tue Nov 24, 2020 10:12 pm

GAminer wrote:
Tue Nov 24, 2020 2:14 pm
I would be interested to know more about this as well. What is the policy for permanent residents who are working overseas and who are in Chile only a few weeks of the year?
I would imagine you are going to have trouble when you need to renew your carné, as if I recall correctly, during a 5 year period you are only allowed to be out of Chile for a total of one year, ie about 2 1/2 months a year.

GAminer
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Re: Income Tax on Foreign Income

Post by GAminer » Wed Nov 25, 2020 12:15 am

paladin wrote:
Tue Nov 24, 2020 10:12 pm
GAminer wrote:
Tue Nov 24, 2020 2:14 pm
I would be interested to know more about this as well. What is the policy for permanent residents who are working overseas and who are in Chile only a few weeks of the year?
I would imagine you are going to have trouble when you need to renew your carné, as if I recall correctly, during a 5 year period you are only allowed to be out of Chile for a total of one year, ie about 2 1/2 months a year.
No, You only have to be in Chile one day over a 365 day period in order to maintain your permanent residency, or you can go to the nearest consulate and request a prorroga within 60 days of completing a 365 day period, up to 4 times. I have been outside of Chile for only 2 months and am returning in April for a few weeks, so I dont have any issues regarding my permanent resident status.

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admin
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Re: Income Tax on Foreign Income

Post by admin » Wed Nov 25, 2020 10:03 am

paladin wrote:
Tue Nov 24, 2020 10:12 pm
GAminer wrote:
Tue Nov 24, 2020 2:14 pm
I would be interested to know more about this as well. What is the policy for permanent residents who are working overseas and who are in Chile only a few weeks of the year?
I would imagine you are going to have trouble when you need to renew your carné, as if I recall correctly, during a 5 year period you are only allowed to be out of Chile for a total of one year, ie about 2 1/2 months a year.
not true.

1 day a year in chile, or yearly renewal at the chilean consulate up to 4 times in 5 years. so, in theory, you can maintain permanent residency in chile with as little as 1 day present in chile in 5 years.

of course, the sultion to that problem is to apply for citizenship as soon as you qualify.

however, being out of the country most of the 5 years you were resident, interfears with your ability to apply for citizenship as you need to demonstrate "a substantial connection to the country".
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admin
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Re: Income Tax on Foreign Income

Post by admin » Wed Nov 25, 2020 10:05 am

also, immigration status and tax residency, are two different things.
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For more information visit: https://www.spencerglobal.com

From USA and outside Chile dial 1-917-727-5985 (U.S.), in Chile dial 65 2 42 1024 or by cell 747 97974.

GAminer
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Re: Income Tax on Foreign Income

Post by GAminer » Wed Nov 25, 2020 1:38 pm

admin wrote:
Wed Nov 25, 2020 10:05 am
also, immigration status and tax residency, are two different things.
So what is the tax residency then? I was under the impression that having been any sort of resident in Chile, either temporary or permanent, that you are required to pay taxes on foreign income sources as well as chilean.

marcos-brasil
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Re: Income Tax on Foreign Income

Post by marcos-brasil » Tue Feb 23, 2021 8:56 pm

I am a brazilian citizen and thus have the right to reside in Chile through the Mercosul Visa. I intend to move to Santiago in 2021 and request for residency in Chile. I will live from my investments in equities and bonds of american and Brazilian companies in the respective exchanges of United States and Brazil. I will be actively trading (buying and selling) US stocks and brazilian stocks on a daily basis. Does this configures a local work in Chile or local chilean source origin for the purpose of paying taxes in Chile during the firts 3 years ?

Britkid
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Re: Income Tax on Foreign Income

Post by Britkid » Tue Feb 23, 2021 9:22 pm

I think it probably does not count as local income, and therefore you probably won´t have to pay taxes for three years. But I don´t know for certain.

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