Companies may choose between three different options: - Creating a branch of a foreign legal entity - Establishing an autonomous Chilean Corporation. - Merger and Acquisition. About this given options, the client can freely choose among them. One of the few exceptions can be found in “regulated markets” such as Fund-managing companies, Banking Institutions or [...]
As stated, this option doesn’t create an independent company in Chile, but stablishes a subsidiary of a main, foreign entity. Therefore the first step of this procedure is to elaborate a public deed containing legal and financial information about the company, document that must be legalized according to Chilean laws and procedures. If the original [...]
If a foreign citizen wants to establish an autonomous Chilean Corporation he must obtain a “Foreign Investor ID” (explained below). Once obtained, and if he is not in Chile, he must also grant power of attorney to a Chilean citizen so he can act in his name, towards Chilean notary or Chilean electronic registration system. [...]
Corporations in Chile can be Publicly-held Corporations, Closely-held Corporations, Simplified Corporations, Limited Liabilty Companies, Individual Limited Companies and Collective Associations. The most recommended corporations to make business in Chile are Publicly-held Corporations, Closely-held Corporations and Simplified Corporations. More detail about this options here.
Once the company has been incorporated, it has the obligation to complete the form “Start of business declaration” towards the IRS (Servicio de Impuestos Internos in Chile). This must be done in a period of two months since the company has started to generate taxable actions. About this point, even thou there is no legal [...]