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Company Formation in Chile

Entity Type: Closed Stock Corporation


Name Details

Does the name of the company require approval by the Registry or other authorities?

No.

How many prospective names will you require?

Not applicable.

Are there any restrictions or limitations on words that can be used in company names?

No, with the exception that the name of a closed stock corporation must include the words “Sociedad Anónima” or the abbreviation “S.A”. If the name of a company is identical or similar to another already existing company, the latter will have the right to request a name change in a summary proceeding.

Address Details

Does the company need to provide a registered address?

Yes.

Are there any limitations on the registered address (i.e. must be in-country, must not be a PO box)

Must not be in-country.

If the client has no physical location incountry, can they use your address for the purposes of registration?

Yes.

Officer Details

How many Directors are required?

A minimum of 3.

Are any other officers required (i.e. Secretary)?

The bylaws may provide for the appointment of alternative directors, whose number shall be the same as regular directors.
A President, Secretary of the Board and a General Manager must be appointed.

What personal details will you need for each officer?

Full name, nationality, identity card number, profession and domicile of the respective officer.

Is there a requirement for any in country resident directors?

No.

Do you need proof of address or Identity for officers? If YES, in what format?

No.

Shareholders Details

How many shareholders are required?

Two, but after incorporation the company may exist 10 days with one sole shareholder.

Are there any restrictions on who can be a shareholder?

No.

What information will you require about shareholder?

Natural Person:

  • Full name
  • Date and country of birth
  • Nationality
  • Civil Status
  • Occupation
  • Address
  • Chilean Tax ID number
  • Notarised and legalised copy of ID
  • In order to obtain a Chilean Tax ID number, a sworn declaration to the Internal Revenue Service with the company’s i) full legal name and commercial or trading name ii) entity type; iii) country, address and date of incorporation; iv) country(ies) of tax residence; v) Tax ID number or code used in foreign country(ies) and a certification of tax residence or similar; vi) identification of partners, owners, participants, contributors and beneficiaries of the foreign entity: vii) date and country of birth or incorporation; viii) address; ix) tax ID number or code used in foreign country(ies); and x) line of business or activity.

    Legal Person:

    • Full name
    • Address
    • Details of the legal representative resident in Chile (as listed for natural persons)
    • Chilean Tax ID number

    In order to obtain a Chilean Tax ID number, a sworn declaration to the Internal Revenue Service with the company’s i) full legal name and commercial or trading name ii) entity type; iii) country, address and date of incorporation; iv) country(ies) of tax residence; v) Tax ID number or code used in foreign country(ies) and a certification of tax residence or similar; vi) identification of partners, owners, participants, contributors and beneficiaries of the foreign entity: vii) date and country of birth or incorporation; viii) address; ix) tax ID number or code used in foreign country(ies); and x) line of business or activity.

    Will you require proof of address or ID from the shareholders?

    No.

    Share Capital

    Will the company need to specify a maximum number of shares that can be issued?

    Yes, this will be stated in the bylaws or any modification thereto in the case of a capital increase / decrease.

    Is any stamp duty paid on the issued share capital? If YES, at what rate is this calculated.

    No.

    Other Details

    Do you require any further information about the company or its officers? If YES, please specify.

    No.

    Procedure

    Please provide a brief outline of the steps to complete an incorporation:

    1. Prepare and legalize Power of Attorney.
    2. Request to obtain Chilean Tax ID of shareholder(s) before the Internal Revenue Service.
    3. Preparation of the deed of incorporation (company bylaws).
    4. Filing and publication of excerpt of the public deed in the Commerce Registry and in the Official Gazette.Notification to the Internal Revenue Service and procurement of the Company’s Chilean Tax ID.
    5. Steps 4 and 5 do not apply in case the “Empresa en un día” “One day corporation” online system is used. The deed is uploaded via the online system.

      Timescale

      How long will it take to complete incorporation?

      10-15 business days.

      Is there any way to expedite the incorporation for an extra fee?

      Yes, one business day, using the “Empresa en un día” “One day corporation” online system.
      However, his will not entail extra fees.


      Latest version updated 2nd May 2018

Country Breakdown

15.91

Million

Population

$

Chilean Peso

Currency

$ 247

Billion

GDP

756,102

km2