Chile- Tag Archives - Business News and Updates


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Getting a Work Visa in Chile Doesn’t Have to Be Difficult

Getting a Work Visa in Chile Doesn’t Have to Be Difficult

A work visa in Chile will give business executives access to one of the most stable economies in Latin America. Chile consistently ranks highly at an international level in terms of economic, political, and social development, and has a business environment that is welcoming to foreign investment. The country is an active promoter and participant in economic integration efforts globally, being a member of APEC, MERCOSUR, the Pacific Alliance, the Rio Group, and UNASUR. If you are thinking of starting a business in Chile, getting a work visa will likely be a crucial part of the process for yourself or a manager sent to oversee operations. But the process of getting a work visa in Chile doesn't have to be difficult if you have the help of a local trusted expert to guide you in the process. Applying for a work visa in Chile Get a work visa in Chile Foreign executives can request a work visa through a consulate located outside or within the country. Generally, the processing time for a work visa is up to three months if done outside the country. Within Chile, it can take longer. Note that the cost of applying for a work visa in Chile is approximately $580 (USD). Foreigners applying for a work visa to perform economic activities in the country must hold one of the following: An employment contract A temporary residence visaA student visaA tourist Visa Furthermore, applicants must submit the following documentation: Copy of passport, which must be valid for at least six monthsFour passport size photos (5x5 cm)A notarized letter from the company addressed to the respective...

Amb Todd Mercer on Australia’s ‘bright future’ working with Chile and Ecuador

Amb Todd Mercer on Australia’s ‘bright future’ working with Chile and Ecuador

In the latest interview for our Q&A series, Biz Latin Hub's Chelsea Heywood connected with Todd Mercer, Australian Ambassador to Chile and Ecuador, to learn about his experience strengthening Australian relations in the region. Todd shares his insights on his experience engaging with Latin America, and the development of Australia's relationships and activity in Chile and Ecuador through the work of the Embassy. Learn about Ambassador Todd Mercer’s professional diplomatic career and the Embassy in Santiago’s efforts to further develop Australian ties with Chile and Ecuador. 1. You have previously worked in Latin America, as Deputy Head of Mission in both Chile (2003-2006) and Mexico (2012). What drives your interest in supporting Australia’s diplomatic and trade relationships with the region? Todd Mercer, Australian Ambassador to Chile and Ecuador Setting aside my personal interest in, and family connection to, Latin America -- I studied Spanish at university and my wife is from Chile -- I am enthusiastic about promoting Australia’s interests in Latin America, because I can see enormous potential for us to build on what is already a set of positive and substantial relationships. For trade-dependent countries like Australia and Chile, diversification of our markets is more important than ever as we recover from the economic impact of Covid-19. To illustrate what is possible in Latin America I would point to our experience with education services in this part of the world. In the 20 years to 2018-19, the value of Australian education services in Latin America increased...

An Overview of Chile’s Corporate Tax Rate

An Overview of Chile’s Corporate Tax Rate

Chile's status as a regional pioneer of free-market economics has converted it into one of Latin America's most globalized economies, with the highest level of human development in the region. National tax policies have been a crucial aspect of that development and continue to foster a positive environment for doing business in Chile. Alongside rich natural resources and a capable and educated workforce, Chile's corporate tax rate positions the country as an attractive candidate for commercial expansion. Chile's corporate tax rate and compliance requirements The “Internal Taxes Service" is the national tax authority, overseeing Chile's corporate tax rate. That rate is centralized and imposed on a national level, as are Chile's other taxes. National tax ID – Registry Chile's corporate tax rate is favorable to business. All individuals or entities must obtain a local Tax Identification number or “RUT.” To be issued with a RUT, you must provide the following documents: Proof of power of attorney for the person overseeing the processArticles of incorporation A certificate of good standing A tax residence certificate Import/export compliance requirements in Chile Chile's customs authority is the National Customs Service. It allows the importation of goods with a value below $1,000 (USD) ras long as the following documents can be provided: An entry summary declarationAn original bill of loading (maritime), consignment note (road), or airway bill (air) An original commercial invoice -- highlighting the item for sale and its valueProof of power of attorney for the person...

September 2020 Regulatory Update: Chile and Costa Rica

September 2020 Regulatory Update: Chile and Costa Rica

BLH has experts across Latin America Our legal and accounting specialists at Biz Latin Hub's Chile and Costa Rican offices report the following notable regulatory updates for September 2020. We provide comprehensive multilingual market entry and back-office support to foreign companies operating in Latin America. With our guidance, our clients can comply with all their corporate legal, accounting, and tax obligations to ensure their ongoing development and growth in key Latin American markets. For more information on how we can support your regulatory and annual compliance needs, contact us today. Chile The Chilean government and its institutions introduced two regulatory updates in September. Regulatory activityOutcomes for businessLaw 21.260 (PDF)Modifies the Labor Codex to facilitate remote or 'telework' arrangements for employers and employees.Law 21.265 (PDF)Modifies the Central Bank's prerogatives to regarding operations in the secondary open market. Costa Rica Regulatory activityOutcomes for business'Del martillo y el baile' (hammer and dance) strategyThe Costa Rican government is continuing to apply its rolling strategy (source in Spanish) to reopening different areas in the country based on their level of control over the transmission of Covid-19. Now, most of the regions in the country have reopened.Land borders are still closed and international airports are open only for certain countries (Canada, UK, Europe and 20 cities from the US). Contact our corporate lawyers in Chile and Costa Rica for support At Biz LatinHub, our bilingual accounting and...

Why Outsource Corporate Secretarial Services in Chile?

Why Outsource Corporate Secretarial Services in Chile?

Understand why to outsource corporate secretarial services in Chile will reduce administrative burdens when expanding or incorporating a company in the country. In light of Covid-19 pandemic, expansions to Latin American markets might present a wide range of challenges for foreign executives. Business owners must determine what business aspects will be conducted by the company, and which ones will be outsourced. Learn the advantages of outsourcing corporate secretarial services in Chile. What are corporate secretarial services in Chile? Corporate secretarial services in Chile help companies meet their corporate compliance requirements. Corporate secretarial services in Chile aim to help companies meet their corporate compliance requirements established by local authorities. In other words, these legal and administrative services are designed to detect, minimize, and, mitigate corporate non-compliance in Chile. Corporate secretarial services take care of the various administrative aspects that a company in Chile must comply with in order to adequately operate internally. Likewise, these services ensure that no issues or problems arise when engaging with third parties or public entities. Corporate governance in Chile Corporate secretarial services are part of corporate governance. They protect the company's and shareholders' interests. Furthermore, they minimize the so-called 'agency problems', that typically arise between owners and the management office. Companies looking to outsource corporate secretarial services in Chile will find that one of the most common legal...

Tips for Investing in Chile’s Real Estate Scene

Tips for Investing in Chile’s Real Estate Scene

A post-pandemic world presents countless opportunities across perhaps unfamiliar sectors, industries, and jurisdictions. Investing in Chile’s real estate scene has been recently developed into a great idea for foreigners looking to relocate to Chile. Here are key aspects and tips for investing in Chile’s real estate scene. Why buy real estate in Chile? Whether talking about Chile or another country, investing in real estate is always a great idea. Some of the benefits of buying real estate are: It considerably strengthens your retirement funds, general estate and overall lifestyle once you reach retirement age.Under normal circumstances, real estate will always hold and increase their value over time.It entails much less risk than stock, commodities, metals and general capital market instruments.Pre-sales and/or home auctions can be taken advantage of to maximize your investment.One does not need to be an expert and counselling is cheaper compared to other types of investments. Choose to invest in Chile’s real estate scene The timing is exactly right: Recent social upheavals and a global pandemic have decreased real estate prices across the board in Chile.Real estate will usually hold and increase their value over time.Great demand translates into lower prices.The national real estate market is currently undergoing a strong reactivation.A big, experienced, and liquid market for low price investment properties.Down payments are extremely reasonable alongside other payment benefits and flexibilities.General access to down to earth mortgages rates. Demand for rent is...

July 2020 Regulatory Update: South and Central America

July 2020 Regulatory Update: South and Central America

Our professionals report notable regulatory updates for July 2020. Biz Latin Hub’s team of legal and accounting specialists operating across all key markets in Latin America report the following notable regulatory updates for July 2020 in Bolivia, Brazil, Chile, Costa Rica, Guatemala, Mexico, Panama, Paraguay, and Uruguay. We support foreign companies in Latin America comply with all corporate regulatory compliance obligations to ensure their success in new markets. For more information on how we can support your regulatory and annual compliance needs, contact us today. Bolivia RegulationDetailsOfficial Statement N° 37/2020   On 14 July, the Ministry of Labor announced that daily labor activities in private and public entities can last for up to 6 hours. Companies must alternate staff between working in their designated office and home-office working arrangements. Brazil RegulationDetailsOrdinance 340Prohibition of entry of foreigners in Brazil from 1-30 July.    Exceptions: 1. Immigrant with permanent residence; 2. Foreign professional on mission in the service of an international organization, as long as duly identified; 3. Passenger in international transit, as long as the passenger does not leave the international area of the airport and the country of destination admits his ticket; 4. Foreign employee accredited to the Brazilian Government; 5. Foreign national, spouse, son, daughter, father, mother or curator of a Brazilian; whose entry is specifically authorized by the Brazilian Government in view of the public interest or for humanitarian...

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