Taxation of international executives
The taxation of international executives in Chile, will depend on the conditions of the assignment. Foreign workers who become resident¬s or are considered domiciled for Chilean tax purposes, will be subject to taxes in Chile on their Chilean source income for the first 3 years of their stay in the country/territory. After the third year, foreign workers are subject to taxes on their worldwide income. Foreign workers who do not meet the requirements to become residents or are not considered domiciled for Chilean tax purposes will be subject to the Additional Tax (a flat tax rate of 35 percent, which can be reduced to 15 percent for employment income for professional/technical services).
The official currency in Chile is the Chilean peso (CLP).
In Chile there are 2 types of visa that can be requested by foreign individuals in Chile. One is the Temporary Visa with an extension of 1 year and the second is the Visa to subject to employment contract with an extension of 2 years in which the last one is directly linked to an employment contract with a Chilean company.