Requirements to Create a Business: Steps, Duration and MORE

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If it is in your plans to enter the business world, here we leave you information about the Requirements to Create a Company in Chile.

You will find the process that you must follow step by step, as well as all the documentation that you have to process. Also the Cost to create a company, among others.

Steps to follow and Requirements to Create a Company in Chile

At this point we will introduce you to the steps and Requirements to Create a Company in Chile. To carry out this procedure there are 6 fundamental steps which are:

Society Constitution

The legal part is essential to create a company in Chile, that is why it is important to correctly choose the image of the company. This in turn provides a number of advantages, which we will mention below:

  • A company is a legal person different from the associates properly taken into account. What makes it possible to take care of the associated charges that it obtains, such as debts.
  • Companies must have their own assets, for this reason, it is easier for them to raise capital to finance themselves, unlike natural persons.
  • It is possible to openly establish a new identity.
  • It differs from other companies and places great trust in its suppliers and consumers. When a company is constituted as a legal person, it is different in economic, operational and commercial terms.

Among the types of companies most used in Chile are the following:

  1. The Sociedad Anónima (SA).
  2. Limited Partnership.
  3. The Collective Society.
  4. Stock Companies (Spa).
  5. Individual Limited Liability Company (EIRL).
  6. Limited Liability Companies (Ltda.).

The Deed of Incorporation of the Company is essential to form a Company in Chile, because it stipulates what it will be dedicated to, the type, the associates that will form it, their corresponding contributions. Also how these will intervene in the dividends, and the way to act if there are losses.

In addition to this, it is a legal guarantee in case of an unexpected event on the properties of the interested parties. Likewise, it specifies how the Society will be organized, the functions of each member, and the way in which the income of the associates will be set.

After completing the above detailed, it is prudent to legalize the documentation in a notary’s office to formalize its legal personality. Which is one of the Requirements to Create a Company in Chile, in the same way, the acquisition of the Unique Tax Certificate (RUT) and the commercial patent.

Registration in the Commercial Registry

Once the Society is constituted, it must be registered. This must be done within 60 days after the date stated in the Deed. This diligence can be carried out by both the Legal Representative and any of the associates.

The person who carries out the procedure to Create a Company in Chile must provide the following documents:

  • Two abstracts in original or copies legitimated by a notary.
  • The Writ of the Incorporation of the Company or the Modification, together with Form No. 2.

You should know that the registration of the constitution may take according to the office where it is done, a period of 3 to 7 business days. The value of this depends on the rate of the Company, taking into account the original capital of the same. After this, you must go to the corresponding office to look for the Society’s Protocol.

Publication in the Official Gazette

This diligence must be done within 60 days after the date established in the Deed. And it can be done by both the Legal Representative and one of the associates. This person must go to the Diario la Nación, with the protocolized summary of the Brief. It is suggested to obtain 2 or 3 copies of Diario.xc.

Acquisition of the Unique Tax Role (RUT) and the Start of Activities

With the acquisition of the RUT, the responsibilities as a tax payer. Which will be used throughout the commercial operations of the company.

At the beginning of operations, an affidavit is made before the Internal Revenue Service about the beginning of some work that generates income, in 1 ° or 2 ° category of the Income Law.

The aforementioned categories are as follows:

  • 1st Category: They are the operations that receive income from their capital or from mining, transport, commercial and industrial operations.
  • 2nd Category: Operations that acquire income as a result of earned income include the professional services and Societies.

When carrying out this diligence, the RUT Registration Form and / or the Declaration of Start of Operations N ° F-4415 must be filled out. This must be signed and brought to the Internal Revenue Service (SII) by the Legal Representative or the taxpayer.

This in turn, must request through the same documentation the revision of the domicile, the identification card of the taxpayer (legal copy in front of a Notary, if the diligence is done by the Legal Representative). Consign the training document, which must be notarized in front of a Notary Public.

Tax Documentation

Once the company is incorporated and has started operations, now your tax liability begins. According to the type of company or activities you carry out, you must work with different documentation. There invoices are included, ledgers, sales slips, fee slips, etc.

The SII has provided electronic support for taxpayers. For your procedures and other tax documentation that the company needs. Although, it is possible to work with the documentation in a tangible way, and they can be obtained in a typeface and then request their legalization before the SII.

The permits

After having complied with the steps detailed above, the start of commercial operations is given according to a number of permits granted by different agencies It should be noted that before investing in a premises or in a rental, which will be used commercially, the Plan that governs each Municipality is examined, thus avoiding its closure.

To form a company in Chile, it is of great importance to take into consideration some points. These are: The place where you are going to work, as well as obeying the environmental, structural and sanitary situation to function. All requirements are governed by law and are essential for acquire the Commercial Patent.

Costs of creating a business in Chile

The information provided by the CCS (Santiago Chamber of Commerce) has determined that the high costs in pesos and time invested to form a company in Chile are obstacles that complicate the process. Therefore, it discourages the desire to undertake of natural persons in the country.

Through the same analysis of the CCS, it is indicated by means of initial capital rates. Which establishes the World Bank in its investigations, about how to undertake in the country. Establish and carry out the steps prior to the commercial activities of the company.

All this procedure costs approximately US $ 1,350 (which is equivalent to 890 thousand pesos). In the food trade, more or less US $ 1,270 (840 thousand pesos).

Likewise, the CCS alleges that the cheapest line to form a company in Chile is non-food commercial operations. Its approximate cost is US $ 770, which would be 500 thousand pesos.

What are the places where the Requirements to Create a Business are delivered?

Among the places where the corresponding procedures must be carried out to create a Company in Chile, there are those that are named below:

  1. The Commercial Registry.
  2. Conservative Agency of Real Estate. This belongs to the Court of Appeal of the respective area.
  3. The Chilean Corporation for Registry Law Studies (in the case of not knowing about the Real Estate Curator to which it belongs).
  4. La Nación newspaper office.
  5. The SII (Internal Revenue Service).
  6. The Notary.
  7. Santiago Chamber of Commerce.

Duration of the process

The time it takes for the entire process to form a company in Chile, according to a study done by the CCS says that sometimes it is over 6 months (counting business days).

Creation of the company in one day

There are companies that provide the service to create a business in one day. The process is practical and without any cost. It is necessary to fill out an online form, with the respective information of the Company and the data of the associates that make it up. These members will have the possibility to sign in 2 ways:

The Advanced Electronic Signature (FEA): Here each associate, can be arranged to sign through your PC. For this, you must use an electronic device known as a token (similar to a pendrive), in addition to a password.

Signature through a Notary Public: In the event that the partners do not have FEA, they can sign manually in front of a notary. The latter has to sign the form through his FEA.

Now, both natural and legal persons when entering the platform must choose the option to «go to the online procedure», being there they have to enter the RUT and their password, then press the «arrow symbol». If you have not registered yet, you need to create an account. Likewise, enter with your Unique Password and click on «set up».

Then you have to choose the type of company or society. Enter the information of this and of the associates and add the precedents that they ask for. The associates they have to sign with their FEA.

Requirements to create a company in Chile as a foreigner

Foreigners who are in Chilean territory have the opportunity to form a company. This can be done by complying with all the Requirements to Create a Company.

These requirements are meticulously detailed in the first point of this article, which can be reviewed again and thus begin with the procedures required to achieve the objective.

We hope this guide helps you gather the Requirements to Create a Company in Chile. It should be noted that this process is very easy, you just have to invest a little time.

Once you know the costs, the process and the Requirements to Create a Company, you will have the opportunity to start building your business quickly.

To obtain more information on this topic, you can enter this link.

Visit GESTIONALO.NET Chile

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