With Brazilian rays no longer outshining the rest of Latin America, real attention is now being paid to other emerging players in the region such as Colombia, Peru, and Chile.
Chile in particular is a very attractive destination to start a business. Strong economic and social policies in Chile have led to a reduction in poverty of 50% since the 1980s, and steady economic growth in comparison with other Latin American countries.
Investors looking to establish a presence in Chile can be comforted by the country’s stability, transparency, and competitiveness. Chile was ranked the 11th largest global recipient of FDI in the World Investment Report 2015 released by UNCTAD, receiving some US$23bn worth of investment in 2014.
Are you looking for a good place to set up your business in Latin America? Here are ten reasons you should consider choosing to set up a company in Chile this year:
- It takes just one day to set up a company in Chile
- The Chilean legal framework is transparent and non-discriminatory
- Chile is a safe and reliable place to do business according to the most recognized financial ratings. AA- with stable outlook from S&P, Aa3 with stable outlook from Moodys, and an A+ with stable outlook from Fitch
- Chile has the lowest levels of corruption in Latin America and is ranked amongst the top 25 countries in the 2015 Corruption Perception Index
- Inefficiency can be a real bugbear in developing markets, but Chile is well connected and computerized. Chile’s tax framework for example is highly computerized, simplifying all the regular procedures
- Chile was the first Latin American country to join the Organisation for Economic Co-operation and Development (OECD) and it participates in a number of international treaties including the Pacific Alliance, Mercosur, and TPP
- Chile has a thriving mining industry that is expected to continuing growing in spite of the global commodities crisis
- In terms of talent and education Chile is home to two of the ten universities in Latin America, and was ranked 26 out of 60 countries surveyed in the Global Talent Index 2015
- If you’re looking to launch a start-up in Chile, the Chilean government created the Start-up Chile Plan which has a variety of support programs including US$40,000 grant for selected companies
- Chile has a very good quality of life, and the country’s capital city Santiago has a vibrant cultural and nightlife scene, as well as the largest subway system in Latin America
For businesses looking to enter the Chilean market having a local expert on board can help fast track your route to success. Biz Latin Hub (www.bizlatinhub.com) is able to guide you in the process of establishing your company in accordance to the Chilean commercial and legal framework. Do not hesitate to contact us in order to get further information regarding our services.