Chilean corporate law provides a wide range of different legal terms and entities to solve business. Most commercial companies use the following general corporate forms:
- Limited Liability Company (LLC). The number of participants is from 2 to 50
- Individual Limited Liability Company(Individual LTD). For a single partner.
- The Cor C/Inc (Corporation) with an unlimited number of partners.
- Branches and representative offices of foreign company in Chile
As long as the registered company works in Chile, it is obligatory to appoint a nominee director (with residence or Chilean citizenship) or to receive a residence (residence permit) for one of the partners.
Authorised capital of the Chilean company
Chilean legislation not specific minimal amount of authorised capital for Chileans companies, however an extremely small capital can be an obstacle for opening a corporate account.
Requirements for the legal address
For activation and obtaining VAT identification number in the Tax Service, corporate must have a registered office address.
Other costs and fees of registration of companies in Chile.
It is very important to get a municipal permit (patent) to make business, its annual cost is approximately equal (depending of the district) to the 0,25% – 0,50% percent of the authorised capital of the company, with the fixed minimum
Separately it is necessary to mention the companies cost of service to maintain its work efficiency.
In Chile you must:
1. Submit a monthly report in an electronic form
2. Submit a monthly declaration of VAT, even at zero returns, otherwise the company can be closed forcibly.
3. Get a municipal permit (commercial patent) for your activity, the penalties for conducting activities without a license are quite high.
4. In addition, it is necessary to take the balance sheet and an annual report from the 1st to 25th of April for the previous fiscal period
Our Firm provides services on register a company in Chile and branches or representative offices in Chile. As well as services for the accreditation and registration of branches of foreign companies in Chile. Our Firm works with the following legal forms of legal entities:
- Register of a Limited Liability Company in Chile (LLC)
- Opening of a Cor C/Inc (Corporation) in Chile
- Registration of branch or representative office of foreign company in Chile
- Individual Limited Liability (EIRL)
Representative office in Chile
In addition, our firm is engaged in accreditation and registration of branches or representative office of foreign companies in Chile. Foreign entities are engaged in entrepreneurial activity in Chile. It is obliged to register the branch. The state control over the creation of a branch of a foreign legal entity is performed by the accreditation. After passing the accreditation of the branch or representative office, it becomes registered with the tax authorities.
Our experts will help you gather and prepare all the necessary documents, as well as advise on all issues in the process of registration and accreditation of branches of foreign companies in Chile.
Services for the register a Company or representative offices in Chile include:
- Preparation of statutory documents for a new company.
- Legalization of statutory documents.
- Registration in the CCI.
- Official publication.
- Activation in the Tax Service of Chile.
- Remote registration.
- Editing and entering in the register of powers of attorney.
- Obtaining temporary TIN for non-resident shareholders.
- Nominal director for non-resident companies.
Opening a corporate account in Chile