Company Formation in Chile

Symfalogic Corporation > Company Formation in Chile

Company Formation in Chile

 

Forming a company in Chile involves a series of steps and compliance with local business laws and regulations. Here’s a general guide to help you understand the process:

1. Choose the Type of Company

First, decide on the type of business entity that best suits your needs. Common types in Chile include:

  • Sociedad por Acciones (SpA): Similar to a corporation, suitable for larger businesses.
  • Sociedad de Responsabilidad Limitada (Ltda): A limited liability partnership, good for small to medium-sized businesses.
  • Sociedad Anónima (SA): A public or closed corporation, used for large companies, can be listed on the stock exchange.

2. Obtain a RUT (Rol Único Tributario)

The RUT is a tax identification number required for both the company and the legal representatives of the company. You must apply for it through the Chilean Internal Revenue Service (Servicio de Impuestos Internos, SII).

3. Draft and Notarize the Company Bylaws

The bylaws (or statutes) are the rules governing the operation of the company. These must be drafted and then notarized by a Chilean notary.

4. Registration

Register the company with the Commercial Registry (Registro de Comercio) at the local Real Estate Registrar (Conservador de Bienes Raíces). After this, you must publish an extract of the company formation in the Official Gazette (Diario Oficial) within 60 days.

5. Obtain a Municipal Operating Permit

Apply for this permit at the Municipality where the company will operate. This involves providing details about the business, including the RUT, proof of legal address, and the health or environmental permits if applicable.

6. Start-up Taxation

Register with the SII for taxation purposes. This involves declaring the initiation of activities (Inicio de Actividades) and determining the applicable taxes for your business.

7. Other Registrations and Permits

Depending on the nature of your business, you might need additional permits and registrations, such as:

  • Health permits for businesses involved in food or healthcare.
  • Environmental permits for industries that may impact the environment.
  • Special licenses for certain regulated professions.

8. Labor Regulations

If you plan to hire employees, familiarize yourself with Chilean labor laws, including contracts, minimum wage, working hours, and social security contributions.

9. Open a Corporate Bank Account

Finally, you’ll need to open a corporate bank account in Chile. This usually requires the legal representative’s presence and the presentation of company documents, including the RUT, bylaws, and proof of registration.

Important Considerations

  • Legal Assistance: It’s highly recommended to seek with us in Chile to navigate the complexities of company formation and ensure compliance with local laws.
  • Online Process: Some steps of the company formation process can be done online through the “Tu Empresa en Un Día” (Your Company in One Day) platform, streamlining the registration for certain types of businesses.
  • Foreign Investors: If you’re a foreign investor, you might need to take additional steps, such as obtaining a foreign investor RUT and possibly a visa, depending on your involvement with the company in Chile.

This guide provides a general overview, but the exact process can vary depending on the specifics of your business and any changes to Chilean law.