10 key questions about Sponsorship Letters for Investors

1. What is a Sponsorship Letter?
A Sponsorship Letter is a document issued by InvestChile, which the applicant must present to the National Immigration Service (SERMIG) if they wish to obtain a temporary residence visa for investors and related staff.
The sponsorship letter was established in Decree N° 177 of 2022 of the Interior and Public Security Ministry. [DOWNLOAD]

2.2. What is the objective of a Sponsorship Letter?
In the process of issuing a Sponsorship Letter, InvestChile can verify the technical and financial background presented by a foreign person or entity that intends to make or has already made an investment in Chile in the terms defined in article 62 of Decree No. 177 of 2022 and that needs strategic staff to enter Chile. The document will be considered by the competent immigration authority (SERMIG) when they receive the visa application for the immigration sub-category of investor and related staff.

3. What scope does a Sponsorship Letter have?
The process of requesting and receiving a Sponsorship Letter is purely for the effects of the subsequent application for a temporary residence visa for investors and related staff. The document does not give the applicant any other right beyond those indicated in Decree Nº 177 of 2022 of the Interior and Public Security Ministry. Nor does it imply qualification as a foreign investor and it therefore does not enable access to the regime established in paragraph 2 of Title I of Law Nº 20.848 or the international agreements signed and ratified by Chile that are currently in force. Furthermore, obtaining a Sponsorship Letter is no guarantee that the temporary residence visa will be granted, as only the National Immigration Service (SERMIG) has the power to approve visa applications.

4. Who can request a Sponsorship Letter?
Foreign private individuals, the legal representatives, directors or senior managers of foreign legal entities, whose objective is to invest in Chile an amount equal to or in excess of US$500,000.
Those persons who perform or will perform the functions of director or manager or specialist technical staff who are contracted as dependent employees or service providers in a company financed by foreign capital and established in Chile can also request a letter.

5. What do you need to be able to obtain a Sponsorship Letter?
The requirements are detailed in Exempt Resolution N° 144 of 2022 of InvestChile, which you can [DOWNLOAD HERE]

6. What documents must be presented to accredit the requirements?
Documents to accredit the background information of the interested parties and the final beneficiaries will be requested. The information required is specified in the following document, which you can download: [DOWNLOAD HERE]

7. What is the process for obtaining a Sponsorship Letter?
The applicant must enter the following link, fill out the information on the two forms and attach the information that corresponds to their situation. If the applicant is a private individual who intends to invest in Chile, they will only need to fill out one form.

8. What forms do I need to fill out?
The form you need to fill out depends on the type of applicant:
I. Foreign private individuals
II. A foreign legal entity constituted abroad that intends to invest in Chile
III. A legal entity constituted in Chile that is in receipt of foreign capital or a legal entity constituted abroad with shareholding in a company constituted in Chile

9. What is the validity period of a Sponsorship Letter?
The Sponsorship Letter will be valid for 60 consecutive days from the date it is issued by InvestChile for the effects of presentation to SERMIG in accordance with the provisions of article 8 of Decree Nº 177 of 2022.

10. What is the advantage of getting a Sponsorship Letter?
It will facilitate your application process by reducing any information asymmetries when your foreign residence visa application comes to be evaluated. This is because InvestChile works on the process prior to SERMIG to certify the financial and technical aspects of foreign persons who are intending to invest or have already invested in Chile and who need specialist staff to enter to develop their projects.