Chloe Grace Moretz will be paid a seven-figure sum for her latest movie role.

The blonde actress, who is still only 16-years-old, is set to receive $500,000 for her part in upcoming drama 'If I Stay', which is being shot in Vancouver, Canada.

Documents obtained by gossip website TMZ also reveal producers were required to file legal papers asking permission to hire the actress, as she is still a minor.

Moretz is due to earn 15 per cent of the film's profits but even if it's a flop she stands to make an additional $1 million as she also gets a cut of the movie's merchandising.

The actress, who recently starred in the remake of horror film 'Carrie' opposite Julianne Moore, will play teen musician Mia in 'If I Stay', who falls into a coma after a brutal car accident.

She is given the choice to die or go back to her life and Moretz will portray her first on-screen relationship in the film alongside 'Snow White and the Huntsman' actor, Jamie Blackley, who plays her boyfriend Adam.

'If I Stay', directed by R.J.Cutler, is based on the best-selling young adult novel by Gayle Forman and also stars Mireille Enos as Mia's mother.

Moretz previously told MTV: ''The readers are very serious about me and Adam, and they really need that palpable relationship, and for me, I just want to go in there and create that relationship with Jamie. It's that young love, and you have to capture that feeling.''

If Moretz receives an Oscar nomination for her role, she will get a bonus of $25,000 with an additional $25,000 should she win.