Just saw info about Start-up Chile 

This is really cool idea!

Start-Up Chile is a program of the Chilean Government, created by the Ministry of Economy, executed by CORFO via InnovaChile, that seeks to attract foreign, high-potential entrepreneurs to come to Chile to bootstrap their businesses with the end goal of converting Chile into the innovation and entrepreneurial hub of Latin America. This is a general mission of the recently inaugurated government and is the primary focus of the Ministry of Economy.

In 2010, the program has brought 25 teams from all corners of the world and has provided them a $40,000 subsidy (no equity) to participate for six months, and a temporary 1-year visa to develop their projects along with access to the most potent social and capital networks in the country. 

Find out more at: Start-up Chile