Chile ๐จ๐ฑ: The True Hidden Gem of South America?
Chile is one of the least discussed Latam countries, despite being the richest and most developed
I was recently in Santiago for a week to find out why
Impressive place, but here's why it will remain a hidden gem... ๐
Expectations vs Reality:
I had low expectations coming into Santiago
The leftist government of Boric reduced living standards in all metrics
But that impression quickly switched
Even though the city may be worse than it was years ago
It is still IMPRESSIVE
Urbanism:
The East zone of Santiago is PEAK
- Walkable streets with lots of commerce and restaurants
- Plenty of parks and greenery overall
- Nice modern buildings mixed in with some historic architecture
- Plenty of statues
One could easily mix it up with a Mediterranean city
Street Culture:
You walk around and you see the tables on the street, people sipping on coffee
I've come across opera singers, sax and violin players on the street
People dress nice too, you can see it's a proper tier one city
Proper City:
Santiago ๐จ๐ฑ is a real Tier 1 city. It wipes the floor with Montevideo ๐บ๐พ or Asunciรณn ๐ต๐พ on infra
(and even bigger cities like Rio ๐ง๐ท or Bogota ๐จ๐ด)
Solid airport and flight connections, US-level highways leading into the city, and extensive metro network also
Scenery and Climate:
The views of the Andes are BEAUTIFUL ๐ป
However, there is often a smog around, which lowers visibility
The climate varies a lot throughout the day, getting quite cold at night and early morning, then getting pleasant during the day
Lots of sunshine!
Where to Stay:
People talk a lot about the criminality spike...
But I haven't felt unsafe for a moment in:
- Providencia
- Barrio Golf
- Vitacura
- Las Condes
- Recoleta
Avoid the South of the city, like you would avoid dangerous areas in Barcelona or other Latam cities
Dining:
People shit on Chilean cuisine
But in a city like Santiago, you can get really nice international cuisine
From Italian Milanese to Pad Thai to Austrian strudel, I've had great food from many countries
and the people I've met told me I could have had even better
Cost of Living:
This is where Chile starts becoming less attractive for nomads
In the nice areas, you are getting European quality of life, but also higher prices
- 3-4 USD for a coffee
- 8-10 USD for an executive lunch
- 20-50 USD for a nice dinner
- min 5-8 USD for an Uber
Plan A vs Plan B:
Besides the cost of living that scares off brokies
The REAL reason that Chile is and will remain a hidden gem?
It is NOT a Plan B. It is a plan A
- Residency requires 6 months a year in country to renew
- Citizenship only if spending 10+ months a year
Also:
- Banking is restricted to residents only
- The country has some of the best tax progressions in Latam, but the foreign-income tax holiday is for just 3 years
- Citizenship takes 5 years to apply in regular circumstances also, then 2-3 years to process
What does this mean?
Chile ๐จ๐ฑ is solid
But for most flags, there's an easier/better alternative:
- For backup residence w/ low presence: BR ๐ง๐ท, CO ๐จ๐ด, MX ๐ฒ๐ฝ, PY ๐ต๐พ, PA ๐ต๐ฆ, UY ๐บ๐พ
- For fast citizenship: AR ๐ฆ๐ท, PE ๐ต๐ช, ๐ง๐ท
- For a tax-free residence: ๐ต๐ฆ๐ต๐พ๐บ๐พ
- For solid banking as a non-resident: ๐ต๐ฆ๐บ๐พ
Nomads won't move, because of min presence
0 tax seekers won't move, because that lasts 3 years only
Mercosur passport seekers won't move, because Brazil, Argentina or Peru are much faster
This restricts the audience to those who really want to live there for the full package
Summing up:
Chile ๐จ๐ฑ offers great residence, citizenship, and banking flags
But for all 3, Chile requires commitment
They want you there as a resident
And that's why it will never "blow up" like Paraguay, Mexico or Panama did
It will remain a hidden gem ๐ for the enjoyers
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