Export – Import Doing business in Chile

If you want to do business in Chile yoy muss consider that there are two ways to operate a business in Chile.
Through a representative
By setting up a Chilean branch or agency of a non-resident foreign corporation
Types of companies that may be set up in Chile
Under Chilean commercial law, the following types of partnerships or corporations can be formed:
Corporation (‘Sociedad anónima’)
The ‘sociedad anónima’ (corporation) is a body corporate that results from the forming of a single equity contributed by the shareholders. The shareholders’ liability is limited to the amount of their individual contributions. The corporation can be publicly traded or closely held and its affairs are administrated by a Board of Directors whose members can be replaced at any time.
Chilean law considers that a corporation’s activities are always mercantile, even though it is formed to carry out acts that would otherwise be deemed to be civil.
General partnership (‘sociedad colectiva’)
In a general partnership all the partners administrate the company individually or through an elected representative. Each partner is solely responsible for all of the legal liabilities of the partnership.
Limited liability partnership (‘sociedad de responsabilidad limitada’)
A limited liability partnership is similar to a general partnership. The principal difference is that each partner’s liability is limited either to the amount of capital he contributed or to a greater amount specified in the partnership deed.
A limited liability partnership is formed by means of a notarised deed that should contain the items required for a general partnership deed. The name of a limited liability partnership should contain the name of one or more partners or a reference to the partnership’s object. However, the name must end in the word ‘limitada’ (limited); otherwise, each partner is unlimitedly liable for all the partnership’s liabilities.
Filing of a summary with the Register of Commerce is also required within 60 days. The summary must also be published in the Official Gazette within the same 60 day period.
Limited partnership (‘sociedad en comandita’)
In a limited partnership some partners provide all or a part of the partnership’s capital with no right to manage the partnership’s affairs. These partners have limited liability.
Association
An association (‘asociación’ or ‘cuentas en participación’) is a contract between two or more businessmen or entities to share in one or more commercial transactions, which will be carried out by one of them in his own name. Such partner must render an account to his other partners and share with them any profit or loss that might result.
The association only creates rights among the partners. As far as third parties are concerned, only the partner in whose name the transaction is carried out is responsible. There are no legal requirements for forming an association.
Font: austrade.gov

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