The Republic of Chile has a lot to offer any expat. It provides expats with Latin America’s highest standard of living. The infrastructure is excellent and well-maintained and the healthcare standards are generally high. There are also excellent employment opportunities in a wide number of industries. In addition, for expats moving from countries with a high cost of living, Chile provides a great quality of life at a lower cost. If Chile sounds like it could be a good option for you – here are some things to consider:
Reasons people immigrate to Chile
An honest culture
Chile has an honest culture and actively works to combat corruption. It is rated as a “Clean” country by Transparency International, with only Canada making it into the “Very Clean” category in the Americas.
An amazing geographic diversity
Chile has an incredible array of climates and geographic settings. You can choose to live by the sea or settle in the mountains. Its climate ranges from deserts in the north to icy cold in the Patagonian south.
A strong economy
As Latin America’s strongest economy, Chile provides plenty of opportunities for foreign investors and expats. Expats moving to Chile to work will find that a good understanding of Spanish is invaluable and will help you in your business dealings and in gaining the respect of your colleagues. Chile’s economy is dominated by foreign trade and it has the strongest sovereign credit rating in South America, making it attractive to investors. Chile also prides itself on being the country in the world with the most bilateral or regional trade agreements – with 25 agreements existing between Chile and 65 other countries.
Santiago, the capital of Chile is one of the largest cities in the South Americas and is a major centre for business and finance, providing a lot of job opportunities especially for skilled professionals. Almost half of Chile’s GDP is generated in Santiago and for expats with children, there are several international schools offering a global curriculum.
Chile has one of the most advanced medical systems in Latin America. Its public health system is the National Health Fund (FONASA) and expats living in Chile will only have access to FONAS’s free healthcare if they pay taxes in the country. There are also numerous private healthcare services and hospitals offering excellent healthcare at costs a lot lower than the USA.
Travelling in Chile
Being such a large country, it makes sense to own a car if you are living in Chile for a substantial amount of time – especially if you want to visit the surrounding towns and national parks. In terms of rail transport – the only commuter rail system that exists connects Santiago to 17 different surround communities and there are very few rail connections throughout Chile with most people preferring to fly or travel by bus. Long-distance buses are widely available in Chile and are known for their comfort and efficiency. In Santiago there are four main bus terminals which connect you to all corners of Chile and all the major highways are paved, making journeys comfortable.
If you are a South African living or moving to Chile and would like to know more about how you can maximise your finances through financial emigration, accessing your South African retirement annuity and our tailor-made tax solutions for South Africans around the world, contact FinGlobal today.