A foreign founder can own a Chilean SpA outright and set it up without travelling. The steps are simple; the timing is not. Here is the sequence, what each step needs, and where the weeks really go.
The SpA (sociedad por acciones) is the default vehicle for foreign founders in Chile: one shareholder is enough, there is no minimum capital, the bylaws are flexible and it can be set up through the free online register known as Empresa en un Día. The “one day” in the name is true for Chileans with a ClaveÚnica; for a founder abroad, the realistic timeline from first document to working bank account is two to three months.
Nobody has to fly to Santiago. What you do need is a person in Chile: an attorney-in-fact to sign the incorporation, and a tax representative domiciled in Chile for each foreign partner. This guide walks through the sequence and the points where foreign founders usually lose weeks.
SpA
One or more shareholders, people or companies; flexible bylaws; shares transferable. The usual choice.
Limitada (SRL)
Two or more partners, more rigid; changes need all partners. Rarely better for a foreign founder.
Branch (agencia)
No new company, but the foreign parent is fully exposed and the paperwork is heavier.
Individual company (EIRL)
Only for one natural person; no corporate shareholders.
The shareholder can be you personally or a company — including a Paraguayan one. Whether a Paraguayan holding is worth it is a tax question we cover in our guide to the Chile–Paraguay treaty.
Law and practice: Commercial Code, arts. 424–446 (SpA); Law 20,659 (simplified incorporation register).
Before the company can be registered, each foreign shareholder — person or company — needs a RUT. Since 2025 the SII handles this online. The application is filed by a representative domiciled in Chile, who must be a Chilean or a foreigner with residence that allows them to work.
Identity
Passport for a person; certificate of good standing and bylaws for a company.
Power of attorney
Appointing the Chilean representative before the SII.
Apostille and translation
Foreign documents apostilled and, if not in Spanish, translated.
Freshness
Certificates generally no more than a year old.
The representative is not a formality. Under the Tax Code, the SII deals with them until it is notified that the power has ended, so choose someone you will keep — a law firm or a corporate-services provider, not a friend who may move away.
Law and practice: SII Exempt Resolution 77/2025 (online RUT for non-residents); Tax Code, art. 9 (representation). Typical turnaround is about a week.
A non-resident cannot sign in the register with ClaveÚnica or an advanced electronic signature. The workaround is standard: your attorney-in-fact starts the filing online, which generates a case number, and then signs before a Chilean notary within 60 days. The register issues the company’s certificate, and the company gets its RUT at the same time.
Decide the bylaws before you file: share classes, administration (a sole administrator or a board), signing powers, and how capital is paid. There is no minimum capital; it must be paid within the period the bylaws set, or within five years if they say nothing.
Law and practice: Law 20,659; Commercial Code rules on the SpA (capital payment).
Next comes the inicio de actividades with the SII, where you declare the business activity, the tax regime and the address. The address is where foreign founders get stuck. The SII accepts a virtual office if it fits the activity, and since July 2026 a sworn declaration can replace some of the proof it used to ask for — but an address that does not match the activity will trigger a review.
| Regime | Who it suits | Corporate tax |
|---|---|---|
| Pro-Pyme general (art. 14 D Nº3) | Most new companies with revenue under 75,000 UF | 12.5% for 2025–2027 (conditions apply), then 15% |
| Pro-Pyme transparent (art. 14 D Nº8) | Companies owned only by individuals | None at company level; owners taxed directly |
| General semi-integrated (art. 14 A) | Large companies and groups | 27% in 2026, falling under the 2026 reform |
Electronic invoicing is mandatory for every company, so the invoicing system is set up in the same week. The municipal licence (patente) follows: it is charged on equity at 0.25–0.5% a year, with a floor of 1 UTM and a ceiling of 8,000 UTM.
Law and practice: LIR art. 14 D (Pro-Pyme), art. 14 A (general regime); Municipal Revenue Law, art. 24 (patente). SII guidance of 14 August 2024 on virtual offices; SII–Defensoría measures of 21 July 2026.
Foreign capital above US$10,000 must enter through the formal exchange market — in practice, a Chilean bank — and the bank reports it to the Central Bank under Chapter XIV of the Compendium of Foreign Exchange Rules. There is no approval to wait for, but the paper trail matters for repatriating profit and capital later.
Larger investors can opt for an investment certificate under Law 20,848 (from US$5 million). It gives administrative support, not tax benefits. For a typical first company it is not worth the effort.
Law and practice: Central Bank of Chile, Compendium of Foreign Exchange Rules, Chapter XIV; Law 20,848 (foreign direct investment framework).
Chilean banks are cautious with companies whose owners and directors all live abroad. Expect three weeks at best, often more, and a request for a resident signatory, beneficial-ownership documents and a clear explanation of the business. The bank account offered through Empresa en un Día requires ClaveÚnica and individual shareholders, so it is usually not available to a foreign founder.
A resident signatory
An administrator or attorney with Chilean residence makes the account possible.
A believable plan
Clients, contracts or purchase orders in Chile.
Clean documents
Apostilled and translated corporate papers for the parent and every beneficial owner.
Patience with fintechs
Digital accounts open faster but may not cover foreign transfers or payroll.
Unapostilled documents
Every foreign document needs an apostille; a missing one restarts the clock.
A temporary representative
Changing the SII representative later is slow; choose for the long term.
The wrong address
A virtual office that does not fit the activity triggers SII checks.
No resident at all
The law does not require a resident director, but the bank and the SII will in practice.
Missing the patente
Municipalities charge interest and fines from the start of activities.
| Step | Who does it | Typical time |
|---|---|---|
| Power of attorney, apostilled and translated | Founder, abroad | 1–2 weeks |
| RUT for each foreign partner | Chilean representative, online with the SII | About 1 week |
| Company incorporated in the Empresa en un Día register | Attorney-in-fact, signing before a Chilean notary | 1–3 days |
| Company RUT and start of activities (inicio de actividades) | Representative, online with the SII | 1–5 days; longer if the SII asks for proof of address |
| Electronic invoicing set up | Company | Same week |
| Municipal licence (patente) | Company, at the municipality of the address | 1–3 weeks |
| Bank account | Company, with a resident signatory | 3 weeks or more |
Yes. A SpA can be owned 100% by a foreigner or a foreign company and set up without travelling, using an attorney-in-fact and a tax representative in Chile.
About two to three months from preparing documents to a working bank account; the bank is usually the slowest step.
Yes. Each foreign partner needs a RUT, requested online from the SII by a representative domiciled in Chile.
A Chilean or a foreigner with residence that allows them to work, domiciled in Chile. The SII deals with them until notified that the power has ended.
No. Capital must be paid within the period set in the bylaws, or within five years if they are silent.
Yes, if it fits the activity. The SII may review addresses that do not match the business.
Most use Pro-Pyme general (art. 14 D Nº3), with a 12.5% rate for 2025–2027 subject to conditions. Companies with corporate shareholders cannot use the transparent regime.
Transfers above US$10,000 must come through the formal exchange market, and the bank reports them under Chapter XIV.
When the treaty helps — and when it does not.
42 hours, the pension reform and the real cost of one hire.
Tell us who the shareholders are and what the company will do. We prepare the documents, coordinate the Chilean side and track every step — fixed quote within one business day.
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