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Most stable South American economy with strong mining sector
Region
SOUTH AMERICA
Corporate Tax
27%
Setup Time
3 weeks
Currency
CLP
Chile, stretching along South America's western coast, has earned recognition as the region's most stable and business-friendly economy. The country's transparent company registration processes and developed institutions support reliable business setup for regional and global operations.
With a population of 19 million, Chile offers diverse living options from cosmopolitan Santiago to coastal cities and wine country. Spanish is the official language, with English proficiency growing in business circles. The climate varies dramatically from desert north to temperate south.
Healthcare is good through both public (FONASA) and private (ISAPRE) systems. Safety is relatively good by Latin American standards, though property crime exists in urban areas. The cost of living is moderate for the region, with Santiago more expensive than provincial cities.
Chile's stable democracy and growing middle class create a welcoming environment for international residents.
Corporate tax rate stands at 27%, with an integrated system allowing tax credits on distributed profits. Personal income tax reaches 40% on higher incomes. VAT applies at 19%. The tax system is transparent and well-administered.
The Chilean peso is freely traded. Chile has the region's most extensive free trade agreement network, including with the US, EU, and Asia-Pacific partners. The Central Bank maintains prudent monetary policy. Foreign investment protection is strong.
Company registration is increasingly digital through the Empresa en un Día (Company in a Day) system. The SpA (Sociedad por Acciones) has become popular for its flexibility. Foreign ownership faces no general restrictions.
Company formation can complete in 1-2 days for simple structures. No minimum capital requirements apply. Directors need not be Chilean residents. Annual compliance involves tax filings and corporate formalities.
Chile has not established a comprehensive crypto license framework, though the Financial Market Commission (CMF) has begun regulatory development. Cryptocurrency exchange operates in a relatively permissive environment, though lacking clear licensing pathways.
The fintech law provides some framework for digital financial services. Entrepreneurs should monitor regulatory evolution.
The Superintendencia de Casinos regulates gaming, with casino licenses issued through competitive processes. Online gambling operates in a regulatory gray area, with recent reform discussions ongoing. The market is substantial but the gambling license framework for remote gaming remains undeveloped.
Chile's geographic isolation and the Andes mountain barrier create logistical considerations. Earthquake risk requires business continuity planning. The domestic market is relatively small despite high per-capita income.
Banking access is excellent through developed local and international banks. Professional services are sophisticated. Chile's OECD membership reflects institutional quality.
Chile suits businesses seeking stable South American base, mining and agricultural operations, and companies valuing transparency for their business setup.
Local: SpA
Local: S.A.
Local: Agencia
| Corporate Tax Rate | 27% |
| Personal Income Tax Rate | 40% |
| VAT / Sales Tax | 19% |
| Capital Gains Tax | 40% |
| Withholding Tax | 35% |
| Reduced Corporate Tax Available | Yes |
| Non-Resident Withholding Exempt | No |
| Tax Treaty Network | Yes |
| Banking Access | HIGH |
| Financial Privacy | MEDIUM |
| Currency Controls | NONE |
| Local Bank Account Required | No |
| Non-Resident Bank Account Allowed | Yes |
| Physical Presence for Banking | No |
| Banks Restrictive (High Risk) | No |
| AML Officer Required | No |
| MLRO Required | No |
| Compliance Officer Required | No |
| Data Protection Officer Required | No |
| Bookkeeping Frequency | Monthly |
| Local Bookkeeping Required | Yes |
| Mandatory Audit | No |
| License Required | Yes |
| Local Director Required | No |
| Local AML Director Required | No |
| Local Legal Address Required | Yes |
| Local Physical Office Required | No |
| Required Share Capital | $0 |
| Capital Maintained in Account | No |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF Travel Rule - transactions over USD 1,000 |
| Business Plan Required | Detailed business plan, governance structure, operational capacity, and AML/CFT procedures required |
| Personnel Required | Compliance Officer, AML/CFT Prevention Officer |
| Insurance Required | No |
| Remote Incorporation Possible | Yes |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | Yes |
| Registry Public | Yes |
| Registry Access | Registry of Financial Service Providers (RPSF) maintained by CMF |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Monthly |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | No |
| Compliance Audit Mandatory | No |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | No |
| Regulators | Comisión para el Mercado Financiero (CMF) and Unidad de Análisis Financiero (UAF) |
| Licensing Fee | $400 |
| Licensing Fee Details | Approximately USD 400 registration fee per Article 33 of Decree Law No. 3,538. 30-day registration review period, 6-month authorization review period. |
| Permitted Business Models | Alternative Transaction Systems (crypto exchanges), Custody, Brokerage, Order Routing, Investment Advice |
| Permitted Activities | Crypto trading, custody services, brokerage, investment advisory |
| Restricted Activities | DeFi protocols, lending/borrowing, and yield products currently lack clear regulation |
| Cross-Border Service Allowed | Yes |
| Physical Inspection Required | No |
| Derivatives Allowed | No |
| RWA Tokenization Allowed | Yes |
| App Store Listing Allowed | Yes |
| Crypto Custody Allowed | Yes |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | No |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Capital Maintained in Account | No |
| Compliance Program Required | Yes |
| Travel Rule Compliance | N/A |
| Business Plan Required | Detailed technical, financial, and operational proposals required for public tender |
| Personnel Required | Background compliance check required for owners, beneficial owners, board members, and managers |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | No |
| Min. Shareholders | 1 |
| Min. Directors | 1 |
| Shareholder/Director Same Person | No |
| Registry Public | Yes |
| Registry Access | Superintendency of Casinos, Betting and Gaming (SCJ) |
| Renewal Period | Fixed term with renewal subject to regulatory review |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Annual |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | Yes |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | No |
| Regulators | Superintendencia de Casinos de Juego (SCJ) |
| Licensing Fee Details | License fees determined through public tender process. Proposed online gambling bill suggests 20% GGR tax, 2% sports contribution, 1% responsible gambling levy. |
| Permitted Business Models | Land-based casinos (24 licensed), cruise ship casinos only. Online gambling currently unregulated. |
| Permitted Activities | Land-based casino games, horse racing betting (at licensed racetracks), state-operated lotteries and sports pools (Polla Chilena, Lotería de Concepción) |
| Restricted Activities | Online gambling and sports betting currently illegal except for state operators. Bill pending in Congress to regulate online gambling. |
| Cross-Border Service Allowed | No |
| Physical Inspection Required | Yes |
| Player Fund Segregation | Yes |
| B2B/B2C Separate Requirements | Yes |
| License Required | Yes |
| Local Director Required | Yes |
| Local AML Director Required | Yes |
| Local Legal Address Required | Yes |
| Local Physical Office Required | Yes |
| Capital Maintained in Account | Yes |
| Compliance Program Required | Yes |
| Travel Rule Compliance | FATF compliant |
| Business Plan Required | Multi-year business plan, governance structure, risk management, and operational capacity required |
| Personnel Required | CEO, Compliance Officer, AML Officer, Board of Directors (minimum 5 for banks) |
| Insurance Required | No |
| Remote Incorporation Possible | No |
| 100% Foreign Ownership | Yes |
| Min. Shareholders | 1 |
| Min. Directors | 5 |
| Shareholder/Director Same Person | No |
| Registry Public | Yes |
| Registry Access | CMF supervised entities registry |
| Renewal Period | Annual |
| Accounting Filing Required | Yes |
| Accounting Filing Frequency | Monthly |
| Financial Statement Required | Yes |
| Financial Statement Frequency | Annual |
| Accounting Audit Mandatory | Yes |
| Compliance Audit Mandatory | Yes |
| Technical Audit Mandatory | No |
| Corporate Income Tax Applicable | Yes |
| Dividend Tax Applicable | Yes |
| Capital Gains Tax Applicable | Yes |
| Territorial Tax Regime | No |
| VAT Applicable | Yes |
| Regulators | Comisión para el Mercado Financiero (CMF), Central Bank of Chile |
| Licensing Fee Details | Fees vary by license type. Banking licenses require substantial capital. Fintech services under Law 21,521 require registration and authorization with CMF. |
| Permitted Business Models | Banking, Payment Services, Crowdfunding, Alternative Transaction Systems, Investment Advisory, Custody of Financial Instruments, Order Routing |
| Permitted Activities | Payment processing, lending (non-bank), financial advice, fund management, securities intermediation |
| Restricted Activities | Banking activities without license, deposit taking without authorization |
| Cross-Border Service Allowed | Yes |
| Physical Inspection Required | Yes |