Retiring in Chile?

Question

We are in our late-50s and considering Chile as a retirement destination, for several reasons (we don't like jungle).

What is the cost of living there, compared to the US? Would renting be a better option than purchasing? Is medical care good?

Which places in Chile are best? Are the smaller towns nicer, or bigger cities? Would it be better to live near the beaches, or just more expensive?

Are the residency requirements hard?

We would be interested in operating some sort of part-time small business upon our retirement. Are there any different requirements for this?

Thanks a lot.

Answer 1

im from chile, its a beautiful place exspeacially in satniago.  it is more expensive by the ocean but you can allways rent a cabin on the beach if you go for a visit.  the codos are pretty expensive, but if you plan on traveling alot than i would recomend that you rent.  in santiago,  you could sell jewelry at a market or import stuff from the us, (the are crazy about american items)  if you want a place to relax then stay by the hills there arent as many people living there and there are big homes on the hillls.  im not sure about prices but you could look it up on  google, i even think that chile.com  has some infomation. check it out and you might find some thing.  have a good time.  its a beautiful place, ohh and make sure you know spanish or you are going to be lost..!

Answer 2

I live in Chile and it is very nice. My absolute favorite cities are Viña del Mar and La Serena. The beauty of Viña is that you are on the beach and you can see the mountains as well. It is a smaller city than Santiago, but still modern. They have the symphony there, as well as other live concerts. There are antique shops, malls and in a neighbooring town, Valparaiso for new years they put on the most amazing fireworks display on the pier. If you are close to the pier the fireworks look like they are right on top of you.

Viña del mar is also about an hour away from the capital, santiago, where there is everything of everything! 6 million people, thriving metropolis. The best "comunas" or neighborhoods are Las Condes and Providencia, or more richer, La Dehesa where all the celebrities live. Las Condes is probably the best in my opinion. its beautiful, lots of trees and flowers, safe, etc.

La serena is equally as pretty in my opinion. Its more quaint and quiet but with beautiful beaches and mountains.

A word about the beaches...they are pretty, but dont expect carribean type white sand and warm water. Even in the summer here (december through march) the water is VERY cold. So if you are expecting mexican beaches, maybe you will be a little dissapointed.

On the subject of residency: its pretty much easy. Its not like the states at all. You have to take your passport and a copy of the customs form that customs will give you upon entry...to the ministery of foreign affairs in downtown santiago. You will fill out an application (and you will need passport type fotos taken with your name and passport number) and in about 3 weeks they will issue you "visa en trámite". If you want to open your own business, you will need to ask permission to work there as well. Once you receive word that your visa is in transit, you will need to wait about 3 to 4 months (the length of this visa) and return to the same place to request permanent residency. It lasts a year and is renewable. Its not expensive (for the two of you, under $50) and more or less quick.

But yes, i agree with one of your answers that you need to know basic spanish, The chilean people speak a cross between Castillian Spanish and a local slang called Chileno. The accent is very "lazy" and they tend to speak very fast. So brush up on some spanish before you come or you may be lost. Its not like some other countries where the majority speak english as well. Only 14% of the population have good working knowledge of english.

Cost of living here is more or less equal to the US. Products cost the same, some more because they are imported. Salaries are less which makes it in some places even more expensive than the states. BUT, just like the US, it depends on where you are in Chile that determines how expensive things are. For example, In Viña del Mar, you could buy a nice Condo overlooking the ocean for about $150,000 to $200,000. Or in Las Condes, Santiago, you could rent a condo with view of the mountains and city lights for about $750 to $2000 a month. There are smaller more afordable apartments for as little as $300 a month but not good quality.

In some of the lesser expensive neighborhoods, your money will go farther.

Medical care....this is a tough one since most of the plans are covered through employment. You also need to have a RUT (which is the equivalent of american social security number) and you can't aquire this until after the "visa en trámite" status, about 4 months. You can buy insurance but im not sure about how much it costs. The hospitals are nice though if you go to the private ones, and a lot of the doctors (especially in santiago) speak english.

THere are definately a lot of perks and downsides to living here, but Im happy. I married a chilean and am bilingual and it does take some getting used to.

I hope I answered your questions. If not you can contact the US Embassy in Santiago through mail and they might be able to answer you more thoroughly.

Look me up when you guys get here :)

Answer 3

Sorry, I can't answer all of your questions, but based on my experience traveling in Chile I would highly recommend it as a beautiful place to retire!  It has a much lower cost of living than the U.S., but it is more expensive relative to surrounding countries in South America.  The mountains and lakes are a phenomenal place to settle down.  If you're looking to run a small business, I would suggest opening a hostel or restaurant in a touristy area.  If you do good business during the heavy tourist season, you could possibly close it for a few months a year.  Pucon was a wonderful place to visit and has a lot of potential for opening a business.  I would recommend staying away from Santiago.  It's a gorgeous city and was just lovely to visit, but isn't exactly a retirement destination.  Maybe check out San Carlos de Atacama?  It may be a bit more expensive to live near the beaches, but I'd look into it anyhow!  Good luck!

Answer 4

I would agree with answer #2. Go to a consulate and ask about the legal stuff. I heard the south is pretty beautiful and quiet. Santiago is fun but I heard the air-quality is very poor during winter and the transit is really messed up right now!I Why don't you rent for a few months before you buy??. ..

Sorry but I also heard that the medical system is ...very slow...

Answer 5

I know a lot of ex-pats (especially from England) who have retired in Chile. My best advice will be to contact the chilean consulate in your hometown and ask all the specific legal questions. They will better assist you than any ordinary person (like me) answering this question.

About where to live I strongly recommend you go to a province and NOT Santiago. I love Santiago and have been there 7 times but all the ex-pats I know have gone to places near Viña del Mar (but not to Viña actually) or Valpariso where the land is still kind of cheap (if you have dollars) and you are an hour from Santiago and half an hour from the seaside. The south is another great option to retire, there are places like Puerto Varas, Osorno, Frutillar or Puerto Montt in the lake distrcit where you'll find peace and a place to set up a nice small business.

Pucon and Villarica are also great places. I wouldnt go further south due to the cold weather which is not good if you're retiring.

You chose an excellent country to retire, Chile is a great place and they have nice provinces where people prefer to live and not the capital city, Santiago can get too polluted during winter time.