Chile- Tag Archives - Business News and Updates


Find the latest Legal updates and changes, industry reviews, regulatory updates, expert legal and accounting advice, Q&A with experts, and much more content.

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...

How to Form an NGO in Chile

How to Form an NGO in Chile

If you want to form a Non-Governmental Organization or NGO in Chile, it is important to understand the key steps and legal requirements to do so. Likewise, you must identify the main goals of your NGO. We outline what you need to know to form your NGO in Chile, one of the most stable and attractive economies in Latin America. What is an NGO? NGOs in Chile are recognized as foundations. Non-Government Organizations, or NGOs, are typically non-profit, civil organizations that operate in the private realm. These organizations should have a specific goal or mission that dictates their internal structures and operation. NGOs usually rely on different sources of funding, these can be either local, regional or international. NGOs in Chile NGOs in Chile are recognized as foundations or “fundaciones”. Local laws define these organizations as a group of determined assets specifically assigned to an unequivocal general interest or goal. This goal requires NGOs to be permanent, non-profit, and clearly established by its founders. It is important to note that foundations are legal entities themselves, and are differentiated from any relevant entities that play a part in its establishment. We recommend that NGOs in Chile use the legal structure of a foundation rather than other types of structures such as associations or corporations. Foundations are easier to incorporate and administrate. Likewise, their missions are often better aligned with the objectives of foreign investors looking to enter Chile. Key aspects of NGOs in Chile Board of Directors An NGO in Chile must have a Board of...

What is the Nature of Canada-Latin America Relations?

What is the Nature of Canada-Latin America Relations?

Canadian companies looking to expanding their businesses should consider the opportunities available to them through strengthening Canada-Latin America relations. This means they ought to think about the commercial and bilateral trade and opportunities and agreements granted by the developing relationships between Canada and key Latin American markets. Canada-Latin America trade relations have been interlocked for many years and continue to promote and support each other in economic, social and political endeavours. Free Trade Agreements (FTAs) have allowed the globalized north and south to strengthen their access to each other’s markets abroad and important benefits. BizLatin Hub provides an extensive comprehension of commercial and trade relations between Canada and Latin America. Continue reading to understand further about how BizLatin Hub can help your business expand into Canada or Latin America. The core of Canada-Latin America trade and commercial relations  NAFTA has enabled Canada to sign trade agreements with nations in the region. The foundations for trade and commercial relations between Canada and Latin America were laid down for hundreds of years. However, these relations intensified when the North America Free Trade Agreement was signed in 1992 and then later came into force in 1994. The North American Free Trade Agreement (NAFTA) links Canada’s economy to the rest of the Americas like never before.  NAFTA is defined as a free-trade region between the United States, Latin America, and Canada. The establishment of NAFTA has enabled Canada to sign trade...

Empower Your Business Through Due Diligence in Chile

Empower Your Business Through Due Diligence in Chile

Conduct due diligence in Chile before purchasing an existing company, partnering with an unfamiliar organization, buying assets or hiring staff. As the term due diligence suggests, it is about acquiring all legal information about the target to avoid issues after the transaction. This could involve collecting information about a company, property, or individual's criminal record history. Due diligence provides you with information, and the right information eventually reduces the risk of your investment in Chile. What is due diligence in Chile?  Conduct due diligence in Chile before purchasing an existing company, partnering with an unfamiliar organization, buying assets or hiring staff. Due diligence is a thorough scan of data to get information. Due diligence processes may involve companies, purchase of assets, human resources, or the state of operations (e.g. business in other countries). Due diligence provides you with all the necessary information you need to know in order to make informed decisions with calculated risks. It is important to take necessary precautions to protect your company through adequate risk management. When expanding into a new market, such as Chile, you may have some questions about building connections in the country, including: Can I trust my joint venture partners and my distributors?Who can I trust to be my local representative?Are there any inherent risks that I need to know about?  Challenges for businesses in Chile Culturally and commercially, there are specific aspects that could make it more challenging for foreigners to do...

CEO Luis Santiago Discusses DigiHealth, Entrepreneurship in Chile and the Dominican Republic

CEO Luis Santiago Discusses DigiHealth, Entrepreneurship in Chile and the Dominican Republic

Tune in to our latest interview with industry expert Luis Santiago, who discusses digital health and entrepreneurship in Chile and the Dominican Republic. Biz Latin Hub’s Maja Gaukstern had the great pleasure of connecting with Luis Santiago, CEO of PEGASI, a company specialized in digital health and the smart management of healthcare information. With a solid base in Venezuela, PEGASI is currently expanding into Chile and the Dominican Republic. “Leading a start-up is based on technical knowledge, sure, but it's more about interpersonal abilities, leadership and clear communications to assure synergy between founders, employees, clients and investors.” Luis spoke with us about the developments of DigiHealth in the region, the advantages of doing business in Chile and the Dominican Republic, and shares tips about being a successful entrepreneur in Latin America.  How does PEGASI change the health sector in Chile, Venezuela and the Dominican Republic? We help patients, physicians and service providers manage their information in a smart manner, making it accessible, clear and secure for everyone. While doing that, data is aggregated and anonymized for real-time population health monitoring (e.g. endemic and epidemic disease tracking).  With the COVID-19 onset, it finally shows how important it is to have information readily available to report, but in a way that insures patient privacy. Currently PEGASI is expanding into Chile and the Dominican Republic. What characteristics of those economies did you see as advantageous for PEGASI? For us, Chile is a great...

5 Reasons to get an Entity Health Check in Chile

5 Reasons to get an Entity Health Check in Chile

Find out why and when it is a good idea to get an entity health check in Chile. Manage your business risks and protect yourself from potential non-compliance issues by understanding your company’s corporate ‘health’ in the eyes of the government. Chile has well-established and solid legal and compliance frameworks designed to encourage and protect business people in the country.  To foreign executives, corporate compliance in Chile can be difficult to navigate - especially if there is a language barrier with local institutions.  It is a key instrument to ensure your company and the companies you are perhaps interested in acquiring/investing, are fully compliant with local regulations. As with other countries, an entity health check in Chile - also known as a corporate health or corporate compliance check - is one or more audits or due diligence reviews carried out on a legal entity. What is an entity health check in Chile? As with other countries, an entity health check in Chile - also known as a corporate health or corporate compliance check - is one or more audits or due diligence reviews carried out on a legal entity. These reviews aim to understand if that entity is and has been fully compliant with local corporate regulations. These reviews cover various aspects of a company’s activities, including the legal, accountancy, tax, human resources, licenses (administrative or others) operations. What things are covered in an entity health check? Entity health checks in Chile can vary quite a lot in terms of the extension, depth and aspects being audited. In most...

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