Specificity of Company Incorporation in Chile
There are several rules and steps that you have to know before even thinking of company incorporation in Chile. Below are the steps that need to be followed to the latter for your company or business to be approved in Chile.
The first step of registering or starting a business in Chile involves proposing a company or business name that has to be approved by Chile Company’s Registry in case it is already in use.
After your company’s name has been approved and you have been allocated an Authentication number, the next step is providing a relevant but brief description of what is the purpose of your company and what are its future aspirations and plans.
The next step involves providing details of the proposed company’s shareholders. The Chilean government regulations allow for a minimum of two and a maximum of 50 shareholders, be it a corporation or persons from any country. You are required to provide the shareholders’ names, their stakes in the company, and what they generally do.
The fourth step is where you provide the Company Director’s details, including a name. Chilean rules and regulations allow for any Nationality to be a Company Director.
Like any other company, your company has to have an address registered to it. It can either be just a small office or a building, but the point is your company has to be registered to it, and it is the base of your operations.
Finally, you have to obtain the Memorandum of Association and articles association document. This document is presented to the Conservator’s registry of commerce. This document means that the process of registering a company has been started.
There are several rules and steps that you have to know before even thinking of investing in Chile. Below are the steps that need to be followed to the latter for your company or business to be approved in Chile.
Company Incorporation in Chile – The Process
If you have followed the above steps and met the set standards and requirements for forming a company in Chile, then you are eligible to start the real process of creating your company. Assuming you have obtained residency or a visa, below are the next steps to make your Company dream a reality in Chile.
Firstly, getting yourself and your company Legal representation. For you to proceed any further, you need to be legally represented by a Chilean citizen or a foreigner with a legal visa. Your legal representative should help you to meet the maximum capital and legal company structure. Your legal representative should also help you draft the legalization of incorporation deed.
Then you get the Company’s Tax Identification Number. To get it you have to draft a public deed signed by your legal representative and allow for the Internal Revenue Service of Chile to process your tax identification number (RUT). Then go ahead and register your company at the Trade Registry of Chile and publish your newly formed company in the Official Gazette of Chile and open a bank account in a local bank in Chile. Finally, present the Articles of Incorporation to the Commerce Registrar and also publish it in the official gazette.
After completing all the above steps and receiving your Tax Identification Number, Your Company can start operating.
Do you have an interest for company incorporation in Chile, then please contact our specialists!