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The keys to doing business in Chile

Chile is a country with a stable, open and diversified economy, which offers investment opportunities in various business sectors, such as mining, energy, agriculture, tourism and innovation.

It has a network of trade agreements with over 60 countries, which provide access to global markets and reduce import and export costs. It has also signed over 35 international double taxation treaties with various countries, including Spain, the United States of America, and the United Kingdom. 

Its legislation is favorable to foreign investment, providing legal certainty for investors, flexibility to choose between different types of company to do business and guaranteeing them nondiscrimination, access to the formal exchange market, protection of property rights and the possibility of availing of various tax regimes, depending on the type and amount of the investment.

It also has over 30 bilateral investment treaties, which establish international arbitration as a mechanism for resolution of disputes between Chile and the respective investors.

In short, Chile is an attractive and reliable destination for foreign investors seeking growth and development opportunities.

Contents of the guide

1. General introduction
   The country’s principal considerations. Principal imports and exports. The economy’s characteristics. Why Chile?
2. Investment protection
   Legal treatment of domestic and foreign investment. Investment protection treaties. 
3. Corporate
   Ways to invest in Chile. Types of entities and their principal aspects. Branch of a Foreign Company (Agencias). Dissolution and removal of different types of entities.
4. Tax
   Introduction. Direct taxes. Tax Treaties. Indirect taxes. Other taxes. General anti-abuse rule.
5. Labor and social security
   General characteristics of working hours. Forms of recruitment (including recruitment of foreign staff). Outsourcing. Teleworking. Labor costs. Termination of the employment relationship. Pension system. Collective employment relations.
6. Real estate
   Public and private property. Rural and urban properties. Condominium. Competent entities.
7. Competition
   Control of conduct: abuse of dominant position, horizontal and vertical collusive practices. Control of structures: prior control of business concentrations.  Suppression of unfair competition. Legislative recommendation.
8. Consumer protection
9. Banking and securities market
   Financial intermediation and regulated activities. Banking financial intermediation and regulated activities. Banking regulator. Securities market regulator. Other regulatory bodies.  
10. Fintech
    Financial inclusion in Chile and business opportunity. Digital identification. Exchange controls. Payment system. Fintech in figures in Chile4. Fintech regulation. Competent authorities. 
11. Data protection
12. Infraestructure
    Public infrastructure procurement schemes. Financial aspects. 
13. Dispute resolution
    Jurisdiction of the Courts. Alternative dispute resolution methods. International commercial arbitration. 

Garrigues in Latin America

Our offices in Santiago de Chile, Mexico City, Lima and Bogota each have a strong and experienced legal and tax team. We offer comprehensive multidisciplinary and expert advice covering all angles of business law, advising both local clients and investors on entering and doing business in the Latin American market.

Other guides to doing business in Latin America

• Colombia
• Mexico
• Peru