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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

by Legal Team Chile | Oct 12, 2020

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...

An Overview of Chile’s Corporate Tax Rate

An Overview of Chile’s Corporate Tax Rate

by Legal Team Chile | Oct 5, 2020

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...

Understanding Chile’s Digital Services Tax

Understanding Chile’s Digital Services Tax

by Accounting Team Chile | Sep 3, 2020

Tax and corporate compliance are essential to the good standing of any company in Latin America, as they are key factors to successfully launching and managing a healthy business. Corporate compliance benefits not only shareholders but also employees as it conveys certainty, stability, and prosperity. Foreign executives looking to enter the Chilean market must be aware of corporate income and withholding taxes. However, as emerging technologies and established Chilean industries are reinventing themselves to encourage tax compliance within the country, business owners must also understand Chile's Digital Services Tax. Chile's digital services tax On June 1st, 2020, Chile´s Digital Services Tax was enacted and put into effect. On June 1st, 2020, Chile´s Digital Services Tax was enacted and put into effect. Since then, VAT – which in Chile is 19% - began to be charged on digital services provided by foreign suppliers. Therefore, providers such as Spotify, Netflix and Amazon had to start registering with the local Chilean tax authorities and submit the relevant monthly taxes in accordance with the new tax legal framework. As a result, consumer bills increased by 19%.  Chile's digital services tax has its origin in the last tax reform carried out in 2020. The tax authorities have recently issued official instructions that explain how these digital services providers operating in Chile must register. Some of the digital services providers that must carry out a registration process before the Chilean tax authorities are: •Those regarding the provision of software, storage,...

Tips for Investing in Chile’s Real Estate Scene

Tips for Investing in Chile’s Real Estate Scene

by Legal Team Chile | Aug 17, 2020

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...

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

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

by Team Latin America | Jun 9, 2020

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...

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