Chile is possibly one of the least talked about expatriate destinations, yet one of the best for expats of all ages and from all backgrounds. It’s a great country to live in, with an amazing climate, an affordable cost of living, a low crime society and a strong and sustainable economy. It is really worth examining if you’re looking for a place to call ‘home’ abroad.
Whether you want to retire abroad, or you’re a young person looking for job or entrepreneurial opportunities overseas, you want to live in a nation where the people are welcoming and the way of life is suitably laid back.
Chile is an incredible option, and worthy of your closer inspection.
Here are 10 reasons why Chile is an excellent choice for expats to move to.
- Chile has weathered the global economic storm exceptionally well. Prior to 2008 the nation enjoyed eight to ten years of consecutive and record growth thanks to a combination of tight fiscal and monetary policy, coupled with a commitment to market-oriented reform and international openness. Going forward, despite the natural slowdown caused by the world’s economic issues, Chile is continuing to enjoy a relatively fast pace of growth in terms of its economic activity.
- In many of Chile’s larger towns and cities, and particularly in Santiago, healthcare facilities are exceptional. Most senior medical practitioners have an international education, and the actual cost of accessing private treatment is affordable compared with prices in America, Great Britain and Europe for example. It is expected that in time, Chile will become known as a hub for medical tourism because of the standard of care available and the affordable nature of treatment.
- Medical insurance is affordably within reach for Western expats; with Americans particularly impressed with how ‘cheap’ in relative terms health insurance is in Chile.
- Chile levies no personal income tax on foreign retirement benefits, pensions, and social security payments – what’s more it has double taxation agreements in place with many nations including the US (although this has yet to be ratified by the US Senate). This means that it is legitimately possible to retire tax-free to Chile.
- Foreign sourced income other than that discussed above in point 4 is income tax free in Chile for the first three years of an expat’s residency – with special extensions of this waiver sometimes being granted by the tax authority.
- In theory gaining temporary and then permanent residency in Chile is relatively straightforward – what’s more, if you speak Spanish, you own real estate in Chile and/or you’re in receipt of a regular income from investments, pensions or work, these things will all work in your favor and expedite your application!
- Chile is generally internationally regarded as being safe with a stable political system; what’s more it ranks well in terms of transparency and lack of corruption. The people are generally moderate and liberal in their way of thinking.
- The cost of living well in Chile is affordable compared to living well in most modern and first world North American and European nations. Expat retirees find they can live comfortably on their foreign sourced pension, and if you earn an income outside of the local economy (e.g., if you have an internet based or international business for example) you may find yourself regarded as a ‘Chileanaire!’
- Depending on where you chose to live in Chile you can access a desert like climate in the north, a temperate and wonderful Mediterranean climate in the middle and a cool, even damp climate if you head far south. I.e., Chile has something for everyone in terms of its weather and its stunning scenery too!
- The infrastructure in Chile’s main towns and cities is excellent – and yet it is beautifully contrasted by the unspoiled and untouched natural beauty of more rural Chile where you really can escape, and get off the beaten track.