The Chilean government already has numerous grants and programs available for new businesses, making it a great place for start-ups and expat entrepreneurs. But a few months back, Chile’s pro-business government decided that they just could do more for local and foreign entrepreneurs, so they voted to improve and streamline the way the incorporation process works in the country, making it quite possibly easier to start a business in Chile than in just about any other country in the world. One only needs to look at what happened to Hong Kong and Singapore when they made similar changes to their governments to know that big strides in business are sure to be underway soon with Chile.
When Chile’s government formed this plan, it was estimated that it would require a few months to get everything formalized, and they’ve been able to get things done on schedule.
Recently, the much anticipated program, Tu Empresa En Un Dia.cl (Your Company in One Day), www.tuempresaenundia.cl was launched.
To start a business in Chile before this new legislation was passed required drafting documents with a lawyer, going to government and notary offices numerous times, a few weeks of waiting, over $1,000 USD in expenses, etc.
Now, to obtain a LLC (in Chile, called a Sociedad de Responsibilidad Limitada), you’ll just need to go through the website. It will help greatly to be a fluent Spanish speaker to navigate the process (although the icons on their homepage make the initial “where to click” pretty self-explanatory). While for now the Sociedad de Responsibilidad Limitada is the only structure offered, more entities will be available through the webpage soon.
This really is a great example of the enthusiasm that Chileans have for bringing new business to the country. Sure, the country is still quite bureaucratic in some ways and certain systems are antiquated, but more and more, Chile is trying to be at the cutting edge in today’s world when it comes to economics and business.