Summary
Yes. Americans can buy an apartment, a house or land in Chile in their own name, with the same rights as Chileans, and a cash purchase costs only about 0.5% to 1% of the price in fees because Chile has no transfer tax.
You don't need a visa or residency to buy. You need a RUT (Chile's tax number) from the SII, and ownership only becomes yours once the deed is registered at the Conservador de Bienes Raíces.
The US community is small: about 14,800 people from the United States lived in Chile at the end of 2022 (SERMIG and INE estimate), 64% of them in the Santiago region.
The border-zone ban in Decree Law 1,939 targets nationals of Argentina, Bolivia and Peru. It doesn't apply to Americans.
Americans enter Chile without a visa for up to 90 days. Buying a home gives you no residency: the investor permit needs a productive investment of at least USD 500,000, and a house doesn't count.
If you retire in Chile, your US Social Security stays taxed only in the United States under the US-Chile tax treaty. Chile starts taxing you as a resident after more than 183 days in a 12-month period.
On a 4,000 UF apartment (USD 169,000), budget about 0.5% to 1% in fees cash, 1% to 2% with a mortgage, and up to about 3.5% to 4.5% if you also pay a broker.
Property tax (contribuciones) is zero when the SII fiscal value is under CLP 61,711,570 (USD 63,200). Above that, you pay 0.893% on the part over the threshold.
A Chilean mortgage is realistic only with permanent residence and Chilean income. The average UF mortgage rate was 4.07% in September 2026, and no bank publishes a rate for non-residents: plan on cash.
In October 2026, a dollar buys about 977 pesos, versus a 951.6 average in 2025, so Chilean prices are slightly cheaper in dollars than last year. Above USD 10,000, the bank records your RUT on the transfer.
The US-Chile tax treaty, in force since December 2023, doesn't cap Chile's tax on your rent or your sale gain. Chile taxes first (a 35% Additional Tax on rental profit for non-residents, with a credit), and the IRS gives you a foreign tax credit.
A home you own directly is not a financial account: it doesn't go on the FBAR or on Form 8938. Your Chilean bank account does, once your foreign accounts pass USD 10,000 combined.
Bottom line: buying in Chile as an American is easy and cheap. The real work is on the money side: pay cash, run a proper title check, and get a US tax preparer who knows foreign rentals before you sign.
What Americans can buy in Chile, and the paperwork it takes
Can I buy a home in Chile as a US citizen?
Yes. US citizens can buy houses, apartments, condos and land in Chile in their own name, with full ownership, in practically the whole country.
The purchase is signed as a public deed (escritura pública) before a Chilean notary, then registered at the Conservador de Bienes Raíces of the commune. That registration, not the notary signature, is what makes you the owner.
Before any of that, you need a Chilean tax ID, the RUT. It's the key to almost every legal and financial step in Chile.
Are there many Americans buying property and living in Chile?
Not many. Chile's migration service (SERMIG) and the national statistics institute (INE) estimated that about 14,800 people from the United States lived in Chile at the end of 2022, a tiny share of the roughly 1.6 million foreign residents.
Most of them live in the Santiago region (64%), followed by the Valparaíso region (12.4%), which includes Viña del Mar and Valparaíso. Within Santiago, the permanent residence permits granted to Americans are concentrated in Las Condes (18.6%) and Providencia (12%). Lastarria, Vitacura and Ñuñoa are also popular, and in the south, Pucón and Puerto Varas attract lifestyle buyers.
The flow is modest too: SERMIG granted about 17,500 temporary residence permits to Americans between 2014 and mid-2024, and only 204 in the first half of 2024.
Why Americans come: a lower cost of living than most US cities, stable institutions by Latin American standards, and the mix of mountains, coast and a modern capital. No official source puts a single number on the cost-of-living gap, so compare your own budget line by line.
Do foreigners have the same buying rights as locals?
Yes. In Chile, a US citizen buys on the same terms as a Chilean: no quota, no foreign-buyer surcharge, no special tax because of your passport.
The well-known exception doesn't concern you. Article 7 of Decree Law 1,939 bars nationals of neighboring countries (Argentina, Bolivia and Peru), and companies they control or hold at least 40% of, from buying property in declared border zones without a presidential decree. Americans are not covered by that ban.
What applies to everyone is Article 6: state-owned (fiscal) land within 10 km of the border or 5 km of the coast can only go to Chileans. That's land sold by the state, not a private house in a border town.
Can I buy property in Chile without a residence permit?
Yes. You don't need a residence permit or a visa to buy property in Chile. A tourist can buy, as long as they have a RUT.
If you live in the US and want to buy remotely, you give a power of attorney (poder) to a lawyer or someone you trust in Chile, who signs the deed and follows the registration for you. Sign it before a notary in the US and get it apostilled (both countries are in the Apostille Convention), or sign it at a Chilean consulate.
Buying doesn't give you a visa or residency. If you plan to live in Chile, you apply separately to SERMIG (see the next section).
The practical headaches of buying from the US are wiring the money, getting documents apostilled in time, and coordinating with a notary and a bank across time zones.
Can US citizens own land?
Yes. A US citizen can own land in Chile outright, with full ownership (dominio) recorded at the Conservador de Bienes Raíces, exactly like a Chilean.
Chile uses freehold ownership, not leasehold: when you buy a house or a plot, you own it permanently.
The checks that matter for land are not about nationality: zoning, legal access, water rights, whether a rural subdivision (parcela) was legally approved, and whether you can actually build. Ask the municipality for the Certificado de Informaciones Previas before you sign.
Getting surprised by hidden fees is one of the pitfalls people face when buying real estate in Chile.
What documents will I need to buy?
Plan on your passport, a Chilean RUT, proof of where your money comes from, and, if you buy remotely, an apostilled power of attorney.
A non-resident gets the RUT from the SII. The SII may ask you to name a representative domiciled in Chile with a proper mandate, which is often your lawyer. The RUT is a tax number, not a residence permit.
A Chilean bank account isn't legally required to buy, but you'll want one to pay contribuciones, utilities and building charges without wiring money every month. Expect more paperwork than a local client: Chilean banks report US account holders to the IRS under FATCA, so they'll ask for your US tax details (a W-9 or equivalent).
Your US bank and the Chilean side will both ask where the money comes from. Keep the paper trail: sale of a home, savings statements, payslips.
Can a foreign-owned company buy property?
Yes. A company, Chilean or foreign, can buy residential property in Chile, as long as it has a RUT and is properly set up.
Americans who use a structure usually look at a Chilean SpA (Sociedad por Acciones) or a limited company (Sociedad de Responsabilidad Limitada), rather than holding through a US LLC, because Chilean law governs the property and the company then has to deal with Chilean tax anyway.
For a single home, a company rarely saves tax. It adds Chilean corporate tax and accounting every year, and on the US side, owning a Chilean company usually means filing Form 5471 and treats your shares as a foreign financial asset for FATCA. The home you hold in your own name avoids both.
The main drawback is the yearly cost and complexity of keeping the entity alive. Get a Chilean accountant and a US tax preparer to agree on the structure before you buy, not after.
Buying in Chile as a Foreigner
Can I live or retire in Chile after buying, and how is my Social Security taxed?
Owning a home in Chile doesn't let you stay longer. As an American, you enter visa-free as a tourist for up to 90 days. To live there, you need a residence permit from SERMIG, and in most cases you apply online before you move, not as a tourist inside Chile.
The usual routes for buyers: the retiree and rentista permit, which asks for steady income that covers your basic needs but publishes no fixed minimum (documented rent from your Chilean property can count, a home with no income doesn't), and the investor permit, which needs a productive investment of at least USD 500,000 with an InvestChile sponsorship. A house is not a productive investment.
Taxes change when you stay. Chile treats you as a tax resident once you spend more than 183 days in Chile within 12 months. For your first three years of residence, Chile only taxes your Chilean income; after that, your worldwide income, with credits for tax paid abroad. The US keeps taxing you as a citizen wherever you live.
Your US Social Security is the easy part: under Article 18 of the US-Chile tax treaty, it's taxed only in the United States, even if you live in Chile. IRA withdrawals and private pensions are a different question, so plan them with a tax advisor before your three years run out.
What taxes and fees will I pay in Chile in 2026?
What are buyer taxes?
Chile is cheap to buy in: there's no property transfer tax. On a 4,000 UF apartment (CLP 165 million, about USD 169,000), you pay no separate "buyer tax" on top of the price.
Two tax-type items can apply. VAT (IVA, 19%) is charged on new homes sold by a developer, and it's already in the price. And if you take a mortgage, there's a stamp tax (impuesto de timbres y estampillas) of up to 0.8% of the loan amount.
Nothing changes because you're American: no foreign-buyer surcharge, and no extra tax for an investment property versus a home you live in.
One thing to watch: under the Reconstruction Law (Ley 21.850, published October 17, 2026), developers can choose not to charge VAT on the first sale of some finished new homes signed from December 1, 2026 to November 30, 2027. The government talks of prices up to about 14% lower; the builders' chamber (CChC) expects a smaller real drop (2% to 7%). It's optional for the developer, so if you're buying a finished new unit, ask in writing whether the exemption applies.
What are other closing costs?
For a resale apartment, budget about 0.5% to 1% of the price if you pay cash, 1% to 2% with a mortgage, and up to about 3.5% to 4.5% if you also pay a broker.
On that 4,000 UF apartment, a cash purchase costs roughly CLP 0.6 to 1.7 million ($615 to $1,740): the notary (CLP 140,000 to 600,000), the Santiago registry (0.2% of the price, capped at CLP 264,200), certificates (CLP 20,000 to 60,000) and a lawyer's title study (CLP 200,000 to 800,000).
With a mortgage, add the stamp tax and the bank's appraisal (CLP 150,000 to 400,000). The broker is the big variable: usually 2% plus 19% VAT, so 2.38%, or about 95 UF ($4,010) on that apartment, and it's negotiable.
The notary and the registry follow published tariffs, so there's little to negotiate there. The broker fee and the lawyer's fee are where you can push. New homes bought from a developer include VAT and usually carry no broker fee.
Are there hidden fees foreigners miss in Chile right now?
Three costs catch American buyers most often.
The exchange spread. On a $169,000 purchase, every 1% your bank takes on the dollar-to-peso conversion costs you about $1,690. Compare your bank's rate with the Banco Central's dólar observado before you send the money.
Paperwork from the US: apostilles, a power of attorney, sometimes certified translations, and couriers. Small amounts each, but they add up and take weeks.
Ongoing costs. Contribuciones are based on the SII fiscal value (avalúo fiscal), usually below the market price: zero up to CLP 61,711,570 (USD 63,200) for the second half of 2026, then 0.893% on the part above that, and 1.042% on the part above CLP 220,398,431. For example, you would pay about CLP 342,000 a year (USD 350) on a fiscal value of CLP 100 million. Building charges (gastos comunes) run around CLP 90,000 a month (USD 90) for the median listing in Santiago, and about CLP 211,000 (USD 215) on average in Las Condes. And if you borrow, a UF loan rises with Chilean inflation (4.1% over 12 months in September 2026).
70+pagesCan I get a mortgage as a US citizen in Chile in 2026?
Do banks lend to US citizens?
Mostly to Americans who live in Chile. The published lending conditions we checked in October 2026 ask for permanent residence (residencia definitiva) and income earned in Chile. Banco Consorcio wants at least two years of permanent residence.
Your passport isn't the issue: banks look at residency, income and credit history, not nationality. American clients do mean extra FATCA paperwork for the bank, which doesn't help.
No bank publishes a mortgage product for non-residents. If you live in the US, plan to pay cash or borrow at home (for example against a US property).
What down payment do American people need?
If you qualify, banks lend up to 80% of the price or appraisal for a main home, and Banco Security caps second homes and investment properties at 70%. As a foreigner, plan for 30% to 40% down: on a 4,000 UF apartment, that's 1,200 to 1,600 UF ($50,600 to $67,500).
The bank also checks your income: at Banco Security and Banco Consorcio, the monthly payment can't exceed 25% of your net income. A loan of 3,200 UF over 25 years at 4.07% costs about 17 UF a month ($715), so you'd need about 68 UF ($2,870) of net monthly income.
The state-backed FOGAES guarantee lets some buyers of a first home (new, up to 6,000 UF) put down 10%, until May 31, 2028. It doesn't cover a second home or a rental. We found no confirmation that foreigners qualify, so ask the bank before counting on it.
What interest rates do US citizens get?
The average rate on new UF mortgages was 4.07% in September 2026, versus a 4.82% average in 2024 (Banco Central de Chile). Rates have stayed around 4% all year, and the central bank held its policy rate at 4.50% on October 27, 2026.
There's no separate rate for Americans or for foreigners. A resident with a solid file gets priced like a Chilean, based on the down payment, term, insurance and income.
Most loans are fixed-rate in UF, over up to 30 years. The UF part matters: your payment in pesos rises with Chilean inflation, and in dollars it also moves with the exchange rate.
The biggest lever on your rate is the down payment. Compare the CAE (all-in cost) at three or four banks, not just the headline rate.
Can I use US income to qualify in Chile right now?
Hard to count on. The written conditions we found ask for income generated in Chile: Banco Security wants more than 120 UF of net monthly income and two years of documented income, and Banco Consorcio wants a permanent contract with at least 18 months in the job.
Some banks may look at foreign income case by case, but none publishes that. If you try, bring two years of US tax returns, recent payslips or an employer letter, three to six months of bank statements, and ideally a history of regular transfers into a Chilean account.
For most Americans who don't live in Chile, the realistic options are cash, or a loan in the US secured on US assets.
70+pagesHow do I move dollars to Chile, and does the exchange rate help right now?
Chile has no capital controls. You can bring dollars in to buy and send the sale money back out through normal banks. Foreign-exchange operations go through banks and authorized exchange houses, which report them to the Banco Central, and above USD 10,000 they also record the RUT of the person receiving the money. Get your RUT before you wire.
The rate is in your favor, a little. In October 2026, a dollar buys about 977 pesos, versus a 951.6 average in 2025, so a Chilean home costs a bit less in dollars than last year. Forecasters expect a slightly stronger peso by the end of 2026 (950 in the Banco Central's October survey, 930 at Bci), so don't wait for a better rate as your plan.
How to send it: wire in your own name, to an account in your name or to the escrow arrangement your lawyer sets up. In Chile, the price is often paid by bank transfer or vale vista (bank check) held by the notary until the registration goes through. Price in UF, pay in pesos: if you sign a promesa in UF and pay weeks later, the dollar amount can move both ways.
When you sell, pay Chile's tax on the gain first, then send the money home.
How do US taxes interact with owning property in Chile?
Do I have to declare the property to the IRS from Chile?
Not the home itself. The IRS doesn't treat foreign real estate you own directly as a "specified foreign financial asset", so it doesn't go on Form 8938.
What you do report is the income. Rent goes on Schedule E of your US return, like any rental. A foreign residential rental is depreciated over 30 years (not the 27.5 years used for US rentals).
When you sell, the gain is computed in dollars: purchase price at the exchange rate of the day you bought, sale price at the rate of the day you sold. A home you lived in as your main home for two of the last five years can use the same exclusion as a US home ($250,000 of gain, or $500,000 for a married couple filing jointly).
A home you only use yourself creates no extra IRS form. Your Chilean bank accounts are a separate matter (see below).
Will I pay tax twice in the US and Chile?
Usually not, but don't expect the treaty to lower your bill on a property. The US-Chile income tax treaty entered into force on December 19, 2023, and applies to taxes withheld from February 1, 2024 and to other taxes from tax years starting January 1, 2024.
On real estate, it changes less than people think. Chile keeps the full right to tax rent from a Chilean property (Article 6, with no rate limit) and the gain when you sell it (Article 13). The US keeps taxing you as a citizen (the "saving clause"). So the rent is taxed in Chile first: as a non-resident, you face the 35% Additional Tax (Impuesto Adicional) on your rental profit, with a credit for First Category tax, unless a DFL2 exemption applies. The treaty does let you elect to be taxed on net rental income rather than gross, which is worth discussing with your Chilean accountant.
Then the IRS gives you a foreign tax credit (Form 1116) for the Chilean tax on the same income. Since Chile's 35% is often higher than your US rate on that income, you usually owe the IRS nothing more on it, but the excess isn't refunded (it can be carried back one year or forward ten). On a sale, a non-resident gets neither Chile's 8,000 UF tax-free gain nor the 10% flat-tax option, both reserved for residents, so price your exit with a Chilean accountant.
What the treaty really changes is elsewhere: lower Chilean withholding on interest and royalties, clear rules on pensions, and Social Security taxed only in the US. Contribuciones on a rental are a deductible expense on Schedule E; on a personal home, ask your preparer.
Do I need FATCA reporting when buying?
Not for the property, if you hold it in your own name. FBAR and FATCA are about financial accounts and assets, and a house is neither.
Your Chilean bank account is another story. FBAR (FinCEN Form 114, filed online with FinCEN, not with your tax return) is required when your foreign accounts together exceed USD 10,000 at any time in the year. It's due April 15, with an automatic extension to October 15. A single deposit to pay the seller can be enough to trigger it.
FATCA (Form 8938, filed with your return) kicks in at higher amounts: for a single filer living in the US, above USD 50,000 at year-end or USD 75,000 at any time (USD 200,000 and USD 300,000 if you live abroad). If you hold the property through a Chilean company, its shares count.
Before you buy, ask a US tax preparer four things: how your Chilean rent will be taxed in both countries, whether a company makes sense (usually not), how currency moves affect your gain, and which FBAR and FATCA filings your accounts will trigger.
Our methodology
This article explains whether and how a US citizen can buy property in Chile: ownership rules, paperwork, living and retiring there, buying costs, mortgages, moving dollars, and the US tax side (treaty, IRS, FBAR and FATCA).
We built it from official sources first: the SII (RUT, taxes), ChileAtiende and the Conservador de Bienes Raíces de Santiago (registration), SERMIG and INE (residency, US population in Chile), the Banco Central de Chile (mortgage rates, exchange rules), banks' published lending conditions, and the IRS and FinCEN for US rules. Cost examples (a 4,000 UF apartment, a 3,200 UF loan, contribuciones on a CLP 100 million fiscal value) are our own calculations.
Legal and tax rules come from Decree Law 1,939 (border and fiscal land), Article 60 of Chile's Income Tax Law (non-resident tax), Law 21.850 (2026 Reconstruction Law), and the US-Chile income tax treaty in force since December 2023, read through the US Senate's report.
We checked these figures in October 2026. We converted amounts at about 977 Chilean pesos per US dollar and 1,099 pesos per euro, and used a UF value of about CLP 41,200 (SII, October 22, 2026).
Limits: fee ranges and timelines vary by office and case, banks decide case by case, gastos comunes figures come from listings, and US and Chilean tax depend on each person's situation. This is general information, not legal or tax advice.
Key sources used for this analysis include SII (RUT for foreigners), ChileAtiende, SERMIG (United States country note), BCN, Decree Law 1,939, Banco Central de Chile, Conservador de Bienes Raíces de Santiago, US Senate report on the US-Chile tax treaty, US Treasury, IRS (Form 8938 FAQ) and FinCEN (FBAR).
