Investing in Chile
Foreign investment has become, together with exports, one of the fundamental elements of Chilean economy. Chile is a model and a pioneer in South America in the development of polices to attract investment, relying on clear and stable legal mechanisms.
In general, the policy framework is characterized for equal treatment of domestic and foreign agents, free access to almost every economic sector and a State with transparent regulation policies towards the activity of investors.
If a foreign-born citizen wishes to invest in Chile, the same as a domestic agent, h/she must comply with the legal requirements set by our country.
In general, prior proceedings are:
Every legal entity requires to carry out the following proceedings before the Internal Revenue Service (SII, in Spanish):
- Registration of RUT (taxpayer number) to perform economic and commercial operations.
- Business Start-up (‘Iniciación de Actividades’) at the Unit of the Internal Revenue Service with jurisdiction over the place in which the legal residence or Head Office of the taxpayer is located (where the activities will take place).
- Accreditation of legal residence.
Once authorized by the Business Start-up Declaration, you may request the stamping of documents, which entitles you to tax credit of VAT (IVA, in Spanish), and others, e.g. invoices, waybills, etc.
- In the case of a corporation, accredit its publication (excerpt) in the Official Gazette (original or photocopy).
- If it is Limited Liability Partnership, it requires to submit an original or photocopy of the Deed (legalized with a business attestation registration from the Trade Registry.
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