What are the visa & residency requirements in Pucon?

" A 90 day visa is provided upon entry to tourists. This can be renewed by crossing the border with Argentina that is an hour away. A resident visa for 360 days can be obtained either in Chile or from the US. It can be renewed several times. After two or three years of temporary residency one can apply for permanent residency and/or citizenship. Cost of the temporary visa is around $450 and requires a certificate from the FBI showing no criminal record. That can take a month or more to obtain. A cover letter stating that you have amonthly income of more than $1200 US if you are retiring there. Three copies of your current passport and photographs. ," said another expat in Pucon, Chile.