This report covers more developments regarding Chile’s Visa Tech, in terms of regulations that facilitate the granting of visas to certain foreign professionals and investors who are associated with the technology sector.
On June 1, 2017, the Chilean government issued a new regulation1 that provides for requirements and procedures related to applying for a “Visa Tech” and the granting of visas to those foreign professionals and investors who are associated with the technology sector. The regulations also provides for the possibility of an expedited application process for eligible applicants.
This aim of the Visa Tech is to attract foreign investment to develop strategic areas of the Chilean economy that have high added value, such as solar energy, technology, and machinery for mining, food technologies, sustainable tourism, and “global technology” services.
Because of Visa Tech, foreign investors and companies doing business in Chile’s high-tech start-up and technology sectors may wish to rethink their long-term business strategies and the organization and deployment of their labor force. The new rules and procedures facilitate expedited and streamlined processing, which could make investing in and bringing foreign workers into Chile with respect to these key sectors quicker and more convenient.
On April 4, 2017, Chilean President Michelle Bachelet announced that, over the coming months, a new visa would come into force in Chile called "Visa Tech." At that time, it was made clear that this new visa, aimed at professionals and foreign investors in the technology field, would be granted fairly quickly, within a maximum period of 15 days from the filing of the application. (For prior coverage, see GMS Flash Alert 2017-075 (April 24, 2017).
Visa Tech is an expedited immigration process available for foreign nationals who are physically present in Chile and who are professionals or investors related to the technology and innovation sectors. Applicants must meet, at least, one of the following requirements:
Through Visa Tech it is possible to obtain a temporary visa or a visa subject to an employment contract depending on the circumstances of the applicant. Additionally, it is also possible to apply for a permanent residence visa.
From the date of the application, the visa submission process should be completed within a maximum period of:
A request must be made with Immigration Department of Chile by one of the public entities that have been designated to act as a “sponsor”: Start-Up Chile, InvestChile, or the Under-Secretary of Economy.
The authorized sponsors to request a Visa Tech at the Immigration Department are the following:
During this process, the sponsor’s main obligations would be the following:
At the request of the company interested in hiring the services of a foreign collaborator, the correspondent sponsor (InvestChile, Start-Up Chile, Under-Secretary of Economy, or Chiletec) should issue an Invitation Letter or a Sponsorship Certificate to the applicant of the Visa Tech.
1 Regulation N°11, issued on June 1, 2017, by the Immigration Department of Chile.
2 Start-Up Chile is a public organization aimed at assisting foreign entrepreneurs to start their projects while opting for Chile as a headquarters for their businesses.
3 Invest Chile is a public organization whose mission is to inform foreign investors of business opportunities in Chile while promoting the country as an investment destination.
4 Under-Secretary of Economy is a public body dependent on the Ministry of Economy, Development and Tourism, whose mission is to promote economic growth, designing and promoting regulatory policies, and fostering competitiveness in the start-up/innovation sector.
5 Chiletec is a trade association, made up of 140 Chilean companies, which seeks the development of the local technology sector and related businesses. For “Visa Tech” purposes, Chiletec act as a partner with the Under-Secretary of Economy in order to be a sponsor for Chilean companies.
* Please note that KPMG LLP (U.S.) does not offer immigration services.
The information contained in this newsletter was submitted by the KPMG International member firm in Chile.
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