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Chile: Operating a Business

Setting Up a Company | Working Conditions | Cost of Labor | Social Partners

Setting Up a Company

Legal Business Entities

Types of Companies and Capital (Max/Min)	Number of Partners/Shareholders and Liability
Sociedad de Responsabilidad Limitada (LTDA) is a Private Limited Company. No minimum capital.	Minimum 2 partners. Maximum 50 partners. Liability is limited to the amount contributed.
Sociedad Anonima (SA) is a Public Limited Company. NB: Can be Public or private. No minimum capital. 1/3 of the capital must be paid at the creation of the company and the remainder within three years.	Minimum 2 partners. Liability is limited to the amount contributed.
Sociedad en Commandita is a limited partnership. No minimum capital.	Two types of partners: active partners and sleeping partners. Liability of active partners is unlimited, joint and several. Liability of sleeping partners is limited to the amount contributed.

The Competent Organization: All businesses from foreign capital must be registered with the Chilean committee for foreign investments.
Search a Company or a Financial Report: Chilnet, Business portal

Setting Up a Company	Chile	Latin America & Caribbean
Procedures (number)	8.0	9.3
Time (days)	22.0	56.7

Source: Doing Business.

Business Setup Procedures: Consult Doing Business Website, to know about procedures to start a Business in Chile.
Register of commerce

Working Conditions

Legal Weekly Duration: 48 hours
Retirement Age: 65 years
Working Contracts: Legal dispositions govern work contracts, collective conventions and individual negotiation complement them.
The formality of the work contract is very rigid whereas starting conditions and licensing constraints are more flexible.

Cost of Labor

Minimum Wage: 135,000 pesos (USD255)
Average Wage: Average monthly gross earnings in Chili is CLP 332,866 (USD 615).
Social contributions: Social Security Contributions Paid By Employers: 0.9% - 3.4%
Social Security Contributions Paid By Employees: 20%

Social Partners

Social Dialogue and Involvement of Social Partners: Since 1992 the labour code has recognised the existence of organisations representing the workers, the most important of which is the Central Union of Workers (CUT). The CUT is affiliated to the international confederation of syndicates.
Unions: Central Workers Union CUT
Unionization Rate: About 15%.
Labor Regulation Bodies: Ministry of Labor and Social Security

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Last Updates: February 2012

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