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[ESTABLISHING A BUSINESS ENTITY IN CHILE]
4. Custody of financial instruments. 5. Order routing and intermediation of financial instruments. V. Foreign Investment 1. Any significant barriers to entry for an offshore party In general, there are no restrictions for the development of economic activities. More specifically, as the economic activity is not limited to the State or a Chilean natural person o legal entity, there are no limitations for offshore parties. Save as mentioned below, all the economic activities are open to the private sector, and foreign parties may develop most of them. There are some activities that are subject to certain restrictions. for example: ▪ Border areas : Some territories located in border regions of the country cannot be acquired by natural persons from a neighboring country or by legal entities with their headquarters in a neighboring country unless they count with the authorization of the President of the Republic. ▪ Aquaculture and fishing : There are several activities regarding aquaculture and fishing that are restricted only for national natural persons or entities. ▪ Hydrocarbons, lithium, and deposits in Chilean waters : Mining concessions located in areas classified as vital for national security cannot be awarded to foreigners. ▪ Domestic shipping : Only Chilean boats are permitted to transport passengers and freight along the coast, rivers, or lakes. However, foreign merchant vessels may undertake these activities
• Individuals who issue or intermediate publicly offered securities. • Product exchanges, securities exchanges, and stock market operations. • Securities Agents Associations and their operations on securities. • Funds subject to supervision and their management. • Companies by shares and limited liability partnerships subject to supervision. • Companies engaged in insurance and reinsurance, as well as insurance intermediaries.
• Financial self-regulation committees.
Banking companies engaged in the issuance and operation of electronic currency. entities and
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• Savings and credit cooperatives subject to cooperative law supervision. • Any other entity or individual as mandated by the law. 2. Fintech Law (Law No. 21,521): Fintech Law establishes a general framework to promote the provision of financial services through innovative technologies, subjecting such services to the supervision of the CMF. This framework aims to enhance transparency and stability in financial innovation and competition, while also protecting clients by safeguarding their data and preventing money laundering. The Services regulated by this law, which must be registered in the Registry of the CMF include: 1. Crowdfunding platforms. 2. Alternative transaction systems. 3. Credit and investment advisory services.
ILN Corporate Group – Establishing a Business Entity Series
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