The underlying legal code in Chile is civil law law. You will want to get some local advice as to how to best structure a company in Chile. One is permitted to electronically sign documents.
The letters CL is for Chile and the most common company structure in Chile is a LLC (SRL).
You should expect a wait time of 9 weeks to incorporate a LLC (SRL) in CL. The types of cash you can use to setup your company is frequently any legal tender.
Yes, one is allowed to re-domicile a LLC (SRL) from CL. You are usually allowed to change the jurisdiction of the company, pending certain procedures.
There must be at least 1 shareholder. This makes it possible for you to own a LLC (SRL) in CL by yourself. Corporate Shareholders are allowed, meaning you could have a company as a shareholder. Foreign ownership is encouraged, up to 100% of the ownership of the LLC (SRL).
A company is only required to have 1 director on the board. Moreover, corporate directors are permitted. Directors should not have an expectation of privacy, as they are not kept private in Chile. There is a requirement to have annual meetings of shareholders.
A registered legal firm must be retained for an address, paid by the company on an annual basis, for a professional firm which can receive a service of process on behalf of the registered legal entity. A related requirement, a corporate secretary is not always necessary, at least not by law.
There is a legal obligation to file accounts on a yearly basis. However, there is oftentimes a requirement to have these accounts audited.
Thin capitalization rules are not in effect.
A corporate director is permitted, meaning this country is a good option if you are setting up a structure where you want to protect director liability.
The directors are disclosed in the public registry of Chile, Diario Oficial. Shareholders are disclosed in the Diario Oficial.
Typically companies take 9 weeks to setup and there are 1 director(s) required and 1 shareholder(s) required at the time of incorporation.
Overall we think Chile is a good option and have given it a score of 81 as an IO score, using the Incorporations.IO proprietary formula.
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