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Chile

Legal form:

LLC, SA, SPA

Delivery:

5 days

Price: $

3000

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Requirements:

Document checklist:

Local legal address (Handled by B2B Hub) 

1.Passport
2.Proof of Residence 

Registrar

Organization name

Abbreviation

Country

Chile

Email

Phone

Listing
Open website
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About

Chile

Capital
Official languages
Population 
Currency

ISO 4217

Santiago

Spanish

18,946,898 (as of July 2020)

Chilean Peso

CLP

FAQ



Q: What is the process for forming a company in Chile?

A: The process for forming a company in Chile involves obtaining approval for your company name, drafting and signing the company's bylaws, registering your business with the Ministry of Economy, and obtaining a tax ID number from the Internal Revenue Service. You will also need to open a bank account and register for any necessary permits or licenses for your business activities.


Q: What are the different types of companies I can form in Chile?

A: The most common types of companies in Chile are Sociedad Anónima (SA), Sociedad de Responsabilidad Limitada (SRL), and Sociedad por Acciones (SpA).


Q: What is a Sociedad Anónima (SA)?

A: A Sociedad Anónima (SA) is a type of corporation that is owned by shareholders who have limited liability for the company's debts. SAs are often used for larger businesses that plan to issue public stock.


Q: What is a Sociedad de Responsabilidad Limitada (SRL)?

A: A Sociedad de Responsabilidad Limitada (SRL) is a type of limited liability company that is owned by partners who have limited liability for the company's debts. SRLs are often used for smaller businesses.


Q: What is a Sociedad por Acciones (SpA)?

A: A Sociedad por Acciones (SpA) is a type of corporation that is similar to an SA, but with fewer requirements for its formation and operation. SpAs are often used by smaller businesses and startups.


Q: What are the minimum requirements for company formation in Chile?

A: The minimum requirements for company formation in Chile include having at least two shareholders or partners, a registered office address, and a minimum capital contribution, which varies depending on the type of company you are forming.


Q: How long does it take to form a company in Chile?

A: The time it takes to form a company in Chile can vary depending on the type of company you are forming and the specific requirements involved. Generally, it can take between one to three weeks to complete the entire registration process.


Q: What are the tax implications of forming a company in Chile?

A: Companies in Chile are subject to a range of taxes, including corporate income tax, value-added tax, and social security contributions. The specific tax obligations will depend on the type of company you are forming and the nature of your business activities.


Q: What are the ongoing compliance requirements for companies in Chile?

A: Companies in Chile are subject to a range of ongoing compliance requirements, including filing annual tax returns, maintaining proper accounting records, and renewing their business registration and other permits as required. It is important to work with a qualified professional to ensure that you remain compliant with all applicable laws and regulations.

Economy

Chile has a strong and growing economy, with a GDP of $541.3 billion in 2019, according to the World Bank. This makes it the 40th largest economy in the world. Chile has a GDP per capita of $14,845, which is higher than the average for Latin America and the Caribbean. The unemployment rate in Chile is 6.2%, which is lower than the regional average of 8.2%. The inflation rate in Chile is 2.7%, which is lower than the regional average of 4.2%. Chile has a strong export economy, with exports totaling $77.2 billion in 2019. The main exports are copper, fruit, fish, and wood products. Chile also has a strong tourism industry, with over 5 million international visitors in 2019. The country has a strong financial sector, with a banking system that is well-regulated and has a high level of financial stability. Overall, Chile has a strong and growing economy, with a GDP that is higher than the regional average and a strong export sector.

Taxation

Chile has a modern tax system that is divided into two main categories: personal income tax and corporate income tax.


Personal income tax is levied on all Chilean residents and non-residents who earn income in Chile. The tax rate is progressive, ranging from 0% to 40%, depending on the income level. The first CLP 700,000 of annual income is exempt from taxation, and there are various deductions and credits available to reduce the tax liability.


Corporate income tax is levied on all businesses operating in Chile. The standard corporate tax rate is 25% on the net taxable income. However, there are various tax incentives available for certain industries and activities, such as those related to research and development, exports, and investment in certain regions of the country.


In addition to federal taxes, there are also other taxes levied on businesses operating in Chile, such as the value-added tax (VAT), which is currently 19%, and various excise taxes on certain products.


The tax year in Chile runs from January 1st to December 31st. The deadline for filing personal income tax returns and paying any outstanding tax is usually April 30th of the following year, while the deadline for filing corporate tax returns and paying any outstanding tax is generally May 31st of the following year.


Payments can be made online or in person at designated banks. Penalties for late payment or non-payment of taxes can range from fines to imprisonment, depending on the severity of the offense. Additionally, interest may be charged on any outstanding tax liability.


Overall, taxation in Chile is relatively straightforward, with a well-established tax system and modern tax administration. It is important for taxpayers to consult with local tax advisors or government authorities to ensure compliance with the relevant tax regulations.

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