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Build Your Commercial Market Entry Strategy in Chile

Build Your Commercial Market Entry Strategy in Chile

Building your commercial market entry strategy in Chile can be challenging, but rewarding for businesses when carried out correctly. Many businesses may struggle with the sudden decrease of revenue as current economic uncertainty, also in Chile. Travel restrictions imposed as a measure to counter the spread of COVID-19 make it difficult to manage businesses right now. In such times, it is important to ensure that the business continues, and that business owners have clear goals for their market entry.  Now it is more important than ever to seek support from a local expert to build your commercial market entry. By seeking third-party support, you get access to expert guidance without having to leave your own country. A local market entry strategist in Chile will help you build and execute a successful market entry strategy, including providing commercial representation support if needed. How to create a market entry strategy Once a foreign entity has chosen to enter Chile in any specific market, the next step consists in having a strong and clear market entry strategy. Once a foreign entity has chosen to enter Chile in any specific market, the next step consists in having a strong and clear market entry strategy. Simply put, a market entry strategy is the plan outlining how you are going to enter the Chilean market and successfully develop a commercial presence there.  In other words, it is a pre-planned course of action stating how your goods and/or services will be delivered in a new foreign country. In order to form a successful market entry strategy in Chile,...

5 Tips for Business Success for US Companies in Chile

5 Tips for Business Success for US Companies in Chile

As one of the world’s most entrepreneurial nations, there are ample business opportunities for US companies in Chile. Chile and the US have maintained a strong commercial relationship dating back to 1918. In 2019, both countries celebrated their 100th anniversary of the Chilean-American Chamber of Commerce. This longstanding and mutually beneficial commercial relationship has fostered strong connections between the 2 countries. For decades, Chile has modeled its economy and institutional foundations on those of North America. The philosophy, principles and guidelines that shape the country’s public policies are similar in both jurisdictions. This includes Chile’s economic, commercial, banking, and trade policies, among others. Succeed in business as a US company in Chile So what’s it like to do business between these two powers? Our Senior legal professionals in Chile have put together 5 key pieces of advice for US companies to succeed in the country’s commercial environment. 1. Engage with local specialists Though it’s true that the Chilean economy and markets share important similarities with those found in the US, there are a number of differences that US companies in Chile must adapt to. Though it’s true that the Chilean economy and markets share important similarities with those found in the US, there are a number of differences that US companies in Chile must adapt to. It’s crucial to understand differences in corporate compliance requirements in Chile in order to ensure you operate in accordance with the law, and secure your commercial success. The US is home to a...

Digital Trade Agreement Supports E-commerce in New Zealand, Chile, Singapore

Digital Trade Agreement Supports E-commerce in New Zealand, Chile, Singapore

New Zealand e-commerce companies stand to benefit from a new digital trade agreement with Chile and Singapore. In January 2020, the 3 countries concluded negotiations on a ‘Digital Economy Partnership Agreement’ (DEPA). This agreement aims to support digital trade channels and digital economy growth between the countries, and identify new opportunities for international e-commerce businesses. New Zealand online-based companies are empowered to secure new international trade channels with two key partners in Asia and Latin America through increasingly popular digital platforms. We explore what this digital trade agreement means for e-commerce opportunities in the Asia-Pacific region. What’s in the New Zealand-Chile-Singapore digital trade agreement? The DEPA aims to support digital trade channels and digital economy growth between the countries, and identify new opportunities for international e-commerce businesses. The Digital Economy Partnership Agreement (DEPA) between New Zealand, Chile and Singapore specifically targets the promotion and growth of e-commerce opportunities between these Asia-Pacific countries. The scope covers opportunities for cooperation, challenges and areas to consider for a future of increased trade in the digital era. E-commerce companies in the signing countries will receive greater support to expand internationally, and provide their products and services to new markets. According to the New Zealand Ministry of Foreign Affairs and Trade (MFAT), the DEPA digital trade agreement outlines a number of key areas for digital economy development,...

Entrepreneurship in Chile Favors Innovation and New Business

Entrepreneurship in Chile Favors Innovation and New Business

Entrepreneurship in Chile continues to develop, supported by government initiatives. According to the Global Entrepreneur Monitor (GEM), Chile is the most entrepreneurial country in the world, ahead of the US and India and alongside Guatemala. Many factors such as start-up funding, education, innovation system, and entrepreneurship environment contributed to Chile’s number one ranking. With a skilled workforce, a thriving entrepreneurship environment, solid macroeconomic fundamentals, and government support, Chile is the destination of choice  for innovative businesses seeking to incorporate a company in Latin America. Overview of entrepreneurship in Chile Entrepreneurship in Chile is on the rise. According to GEM 2018-2019 data, entrepreneurial activities grew from 13% in 2008 to 25.1% in 2018. In addition, Chile has a platform called “Create a Company in One Day” which has accounted for 386,310 new businesses between 2013-2018, with an average of 351 new business per day. Government measures, such as Create a Company in One Day are an example of Chile’s focus on driving entrepreneurship in the country.  Although not necessarily all companies survive in the market, the outstanding number of companies created over the past years are testament to the supportive environment for entrepreneurship in Chile. Skilled workforce Entrepreneurship in Chile is favored by the availability of a skilled workforce ready to contribute to innovation. In fact, at the 2018 international exam that measures students' knowledge in math, science, and reading, PISA (Programme for...

How to Register a Trademark in Chile: a Step-by-step Guide

How to Register a Trademark in Chile: a Step-by-step Guide

Register a trademark in Chile to protect your brand and secure your company's reputation. Chile ranks high on the World Bank's list of doing business and attracts more and more commercial innovators. To compete with other opportunity-seekers it is essential to register your trademark in Chile. By registering your trademark in Chile, you secure your business’ revenue and your brand’s omnipresence. A registered trademark in Chile will legally protect your brand and give you exclusive rights to your invention for a period of 10 years, which can be extended successively for the same period of time. We explain what you need and the steps to register a trademark in Chile.  Where to register a trademark in Chile? The National Institute of Industrial Property (Instituto Nacional de Propiedad Industrial, INAPI) is in charge of the administration of industrial property in Chile. You’ll need to submit your completed application to register your trademark in Chile to this authority.  The law that governs trademark protection and registration in Chile is the industrial property Law N.19039. Categories of trademarks in Chile Before filing a request to register a trademark in Chile, you must clearly define the nature of the brand or item you want to register. A sign can be composed of numbers, figures, letters, images, or a mixture of these. The nature of signs is as follow: Word mark: (marca denominativa) is a word or an agrupation of words, letters or combinations of these or numbers. Figurative mark: A label with figures, symbol or images.Mixed marks: A label with...

Direct Flights and Visa Benefits for Australians Traveling to Chile

Direct Flights and Visa Benefits for Australians Traveling to Chile

Chile and Australia share a longstanding, strong bilateral relationship built on informal connections during the nineteenth century. Chile was Australia’s first Latin American connection, and since their first formal cooperation agreement - the 1996 Extradition Treaty - the two countries have cooperated on a number of topics, and enjoyed a high level of two-way trade. Now, the Latin American country is offering an easier passage for Australians traveling to Chile. In December 2019, Chile waived the reciprocity fee Australian travelers have been required to pay when entering the country. Australians traveling to Chile no longer pay reciprocity fee Chile’s recent decision to ease the journey for Australian tourists to Latin America includes removing the requirement for an entry visa until May 2020, and waiving the AU$170 (approximately US$117) reciprocity fee.  In May 2020, holidaying Australians traveling to Chile will be able to use an electronic visa to enter the country. Not only has this decision made it easier for Australians to travel through the country commonly referred to as the ‘gateway to South America,’ but it improves the passport power of Australian passports. Already, the Henley Passport Index considers Australia’s passport as one of the most powerful in the world, ranking ninth equal out of over 180 countries in the world. What is a reciprocity fee? A government may apply a reciprocity fee to certain foreign nationals entering its territory, if the foreign travelers’ home country applies a similar fee to its own citizens upon entry. In this way, the levied...

5 Reasons to Establish a Local Sales Presence in Chile

5 Reasons to Establish a Local Sales Presence in Chile

Commercial expansion is a natural consideration for a successful company’s next steps, whether locally or internationally. Internationally, there are virtually endless market and cost reduction related opportunities for growing businesses to take advantage of. Among those, Chile consistently has been regarded as one of the most attractive destinations within the Latin American region to establish a local sales presence. There’s more than one way to establish a local sales presence in Chile. Businesses can choose to build their sales team through forming a local branch or subsidiary, or start with a smaller-scale investment by partnering with a Professional Employer Organization (PEO). Options to establish your local sales presence in Chile Businesses can establish a local sales presence in Chile by forming a local branch or subsidiary, or by partnering with a Professional Employer Organization (PEO). Investors looking to enter the Chilean market have basically three ways to do so: Establishing a local Branch Establishing a local Subsidiary Use a Professional Employer Organization (PEO) to hire your sales executives in Chile. The first two alternatives entail building a heavy footprint in the country as in both require considerable upfront capital expenditure and taxation compliance procedures. Establishing your local sales presence in Chile through a Branch or Subsidiary are also both quite consuming, as the incorporation process in both cases can reach as long as a month or more. What is a Professional Employer Organization (PEO)? A Professional Employer Organization or...

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