Whether you're seeking an escape from the daily grind or aiming to reduce your tax burden, migrating to a new country has never been easier!

As mentioned in my first major article (Unlocking Global Real Estate in South America) you can legally purchase real estate without needing to be a citizen in most South American countries, and live there for short periods of time (depending on your nationality), but what if you want to stay in one of these countries for an extended period of time?

In this article, we’ll analyze several South American countries and explore the best methods of going through the migration process of these countries.

Mexico

Investment

Mexico does not offer a direct route to citizenship through investment. However, the country provides two types of temporary residency visas that can be obtained through upfront investment in specific areas. These visas allow investors to gain temporary residency, which can eventually lead to permanent residency and, later, naturalization if desired.

• Real Estate: Aquisition of property in Mexico with a specified minimum value of roughly $220,000.
• Business Ventures: Buying shares in a Mexican corporation amounting to minimum of $110,000 creating at least 3 employments.

Income

Having a temporary residence allows you to stay in Mexico for 6 months. If you wish to work in Mexico for a Mexican corporation, you must apply for a different visa.

Mexico's temporary visa allows foreigners the ability to reside in the country for 1 year and up to 4 years. To qualify you must have one of the following:

• Have at least $54,600 in savings.
• Show a monthly income of more than $3,275 (post taxes, consistently, for the past 6 months).

After 5 years of living in Mexico, residents can apply for citizenship through naturalization.

Note:
Residency requirements will change depending on the consulate.

Costa Rica

Investment

Under the Investor Residency category, applicants must invest $150,000 into one of the following options:

• Real Estate.
• Shares of an operational Costa Rican corporation.
• The Costa Rican stock market.

Income

Costa Rica grants a temporary residency visa under the category of 'rentista' to foreigners willing to immigrate to the country. They must have a regular monthly income of at least $2,500 from a guaranteed source for two years.

Once you have legally resided in Costa Rica with a temporary residence permit for 3 or more years, you may be eligible for a permanent residence. After 7 years, a foreigner may apply for citizenship by naturalization.

Panama

Investment

Panama offers three primary 'citizenship by investment' programs. All of which grant the individual a permanent residency visa (which they can then apply for citizenship after 5 years of residency).

Qualified Investor

This program grants you permanent residency. To qualify you must:

• Invest a minimum of $500,000 in Panamanian real estate.
• Invest at least $500,000 in the Panamanian stock market.
• Deposit at least $750,000 in a fixed-term deposit account at a Panamanian bank.

Friendly Nations

This program is for citizens from specific countries that maintain friendly relations with Panama. To qualify you can:

• Start a business in Panama or make a work agreement with a Panamanian company.
• Invest a minimum of $200,000 in real estate.
• Deposit a minimum of $200,000 in a fixed-term deposit account at a national bank in Panama. It must be valid for 3 years (minimum).

Forestry Investor

This program focuses on sustainable investment in Panama's reforestation projects. To be a forestry investor you can:

• Invest a minimum of $80,000 in an approved reforestation project to get a Temporary Residence Permit for 5 years.
• Invest a minimum of $100,000 to get a Temporary Residence Permit for 2 years, meaning you'll get temporary residency, and then you are eligibile to get a Permanent Residence Permit. After 5 years, Permanent Residency opens up the way to applying for citizenship.

Colombia

Investment

Colombia does not actually offer a direct citizenship by investment program. However, there are a selection of investment visas which grant residency and could lead to future citizenship (usually after 5 years). Those are:

Migrant Visa

The Type M visa is valid for up to 3 years and you cannot be absent for more than 180 consecutive days within every 365 day period (from when the permit is issued).
You can get this visa through a few different ways, including:

• Real Estate (M-10 Visa) - Approximately $117,000.
• Business Investment (M-6 Visa) - Approximately $35,000

Income

Colombia offers a digital nomad visa for individuals that can demonstrate they earn a monthly income of at least $684 USD. This makes Colombia one of the most affordable countries in the world to aquire a residence visa.

Note:
This visa is only available to certain countries and you must prove your employment with a letter to a company that is located outside of Colombia. Eligible countries include Germany, Australia, United States, Canada, Spain, Indonesia, Portugal and more.

Ecuador

Investment

Like Colombia, Ecuador also does not have a formal citizenship by investment. However, there is a visa which you can apply for that requires a minimum investment of $46,000 across a wide diversity of asset classes (including real estate).

Income

Ecuador also has a digital nomad visa that grants temporary residence for foreign citizens who want to work remotely in Ecuador for up to two years (renewable in two-year increments). You must demonstrate a minimum income of at least $1,275 per month.

Brazil

Investment

Brazil offers permanent residency through its VIPER program. It requires an investment in real estate of R$1,000,000 (approximately $200,000 USD).e

Investors should note though that they can benefit from a 30% discount if they purchase specific real estate projects located in the north and north east of Brazil.

The program also provides a lower-cost alternative by allowing the establishment of a business entity or investment in an existing business. This starts at R$500,000 ($100,000 USD)

Income

Established only a couple of years ago, Brazil's digital nomad visa gives holders the opportunity to stay in Brazil for up to 1 year and after which can renew it for an additional year. To qualify for this visa you must be employd by a foreign company and prove one of the following:

• That you earn more than $1,500/month.
• That you have $18,000 in savings (in a bank).

Argentina

Investment

It is not possible to get an Argentinian citizenship through investment, however the country does offer a visa through investment.

Foreign nationals can be granted this visa by committing a minimum of ARS 1,500,000 (approximately $2,000 USD) in any lawful business engaged in productive, commercial or service activity within Argentina. This visa lasts 1 year which then may be renewed for three years. The applicant however would be eligible to obtain Argentine citizenship after living in the country for over two years.

Income

Argentina also offers a 'digital nomad visa' and it is unique in that no income requirements have been published.

However, it is expected and recommended that you have a monthly income of at least $2,500 to stand a good chance at qualifying.

Chile

Investment

Chile offers a temporary residence visa through investment which initially grants residency for just 1 year. However, this can be extended if certain investment and business requirements are met.

The requirement for this investor visa is simply that you make an investment in excess of $500,000 USD in the country.

Income

There are several other visas offered by Chile. These include:

• Rentista Visa - You must demonstrate a reglar monthly income of at least $1,500 from a pension, dividends or interest from investment, or rental property.
• Jubilado - Prove that you possess a lump sum of at least $125,000 in liquid assets.
• Company - Start a business in Chile with a minimum investment of $60,000.

Uruguay

Investment

Uruguay does not offer citizenship by investment but also has an investor visa. To qualify, you must either:

• Invest approximately $525,000 in real estate in Uruguay
• Invest $2,250,000 either directly or indirectly in a Uruguayan company, generating at least 15 new, full-time job positions.

In either case, the applicant must be physically present in Uruguay for at least 60 days per year.

Income

Digital nomads and remote workers can obtain a residency permit to work legally from Uruguay for 6 to 12 months. The visa does not require a minimum income. However, you need to have enough money to support yourself during your stay and you must sign an affidavit that states that you earn enough money working remotely to support yourself.

Peru

Investment

Like the other countries above, Peru also does not offer a direct path to citizenship through investment. However, you can apply for a Peruvian investor visa (Inversionista) and then aquire citizenship after 2 years of residency.

To be eligible for this visa you must make an investment of at least PEN 500,000 (approximately $150,000) in a Peruvian company or create a Peruvian company with a capital investment of the same amount.

Income

There are a number of other visas that allow foreigners to live in Peru. These include:

• Work Visa - You can establish your own company in Peru and work for yourself (paying yourself at least minimum salary) from the company's income.
• Rentista Visa - You must prove you have a monthly income of $1000 USD from a passive source (for example, a pension, dividends or property rental income).

Dominican Republic

Investment

The Dominican Republic offers a residency by investment program which requires a minimum real estate investment of $200,000 (plus fees). This route will grant investors a one-year residency permit which can then be renewed.

Income

The Work in Nature Visa provides individuals and families with the ability to work and reside in the Dominican Republic for up to 18 months. The income requirement is that you earn more than $50,000 every year, that you work remotely, and have the financial means to support yourself.

Conclusion

When considering the best visa program for long-term residency or eventual citizenship in a South American country, several factors must be weighed, including investment requirements, income thresholds, residency paths, and ease of naturalization.

Panama stands out as one of the most accessible country for a variety of reasons. With its Friendly Nations visa, Panama offers affordable investment options ($200,000 in real estate or a deposit) and a streamlined path to permanent residency and citizenship after just 5 years.

Colombia also stands out, especially for digital nomads, with an affordable income requirement of $684 per month. It also offers accessible investment options with relatively low thresholds, such as the $35,000 business investment or $117,000 in real estate, leading to residency.

Disclaimer

This article is for informational purposes only and should not boe considered as financial or legal advice. Investing in real estate, especially in foreign countries, carries risks, and it's important to consult with a qualified financial advisor or legal expert before making any investment decisions.