Did you know that you can obtain different types of residency in different countries?
Well, in today’s post we’ll explore 2 countries offering residency by investment, one for business people and the other for personal reasons.
Chile
As always, the best place to start is with the eligibility, as while all nationalities are allowed to apply, there are other documents and criteria to fulfil in order to make sure it is successful.
Now, you will be able to find this information below, and hopefully it helps you establish the viability of this route to residency in Chile:
· Provide investment and/or business plans respectively
· Proof of capital in or out of Chile depending on where you are storing the funds
· Notarised passport copy and a passport photo
· Proof of income
· Notarised copy of business licence and articles of incorporation
· Marriage and Birth Certificates where necessary
· Affidavit
· Tourism card
As residency by investment schemes go, this list of required documents and procedures is not all that long. In terms of the process itself, however, there are a few more steps involved, which we will explore a little more now.
Essentially, on arrival in Chile you are able to make your initial investment, it is stipulated that US$75,000 in the capital Santiago is usually a standard approved amount and following this you are able to apply for a temporary residency.
This one-year visa gives you time to have spent 185 days free in the nation, and also acts as a placeholder while the documentation outlined above is reviewed before you can be issued a permanent residency in Chile.
One interesting thing to note is that after being a resident for 5 years, permanent and temporary combined, you can actually apply for citizenship, further incentivising the process.
New Zealand
This island nation is home to some of the most diverse landscapes on the planet, providing endless opportunity for travel and exploration for adventurers with experience, and those with none.
The benefits don’t stop here though, with a high quality of life and world-renowned friendly population, New Zealand is a fantastic option for individuals and families, meaning there is no reason to take the country off your shortlist of relocation candidates! Also, with English as the widely spoken language, communication barriers are largely non-existent and should help with your settling in process.
So, for the visa itself, called the ‘Investor 2 residency visa’, you need to invest US$1,936,035. It is designed for business people under 65 years old in an approved venture held for 4 years, assessed on points-based eligibility similar to other countries. In this case English is a requirement, either as a native language or with a passed English proficiency test.
An acceptable investment for this visa includes:
Government bonds
Firms with a BBB rating or higher
Banks
Finance companies.
Additionally, for those of you looking to obtain citizenship, proof of 1,350 days of residency in the nation over 5 years and 246 days per year of each of those 5 years spent in the nation will be sufficient to allow you to apply.
Which nation is for me?
All in all, it has to be said that both programs have their own pull factors, and although the difference in cost is perhaps the largest distinguisher between them, the benefits are broadly similar.
This means that for those of you on a stricter budget, Chile singles itself out as a preferable option, meanwhile New Zealand is more suited to higher net-worth investors.
Beyond this, the quality of life on offer in both nations is high, and business wise, as is the focus of our article today, the landscape of different markets within both nations presents an exciting opportunity to innovative investors looking to develop their companies from across the globe.
So, if you are interested in finding out more about residency to develop your business in either Chile or New Zealand, contact us today! Here you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
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