Chile offers a favorable environment for foreign investors, with clear laws that facilitate the purchase of companies and obtaining an investor visa. This type of visa allows you to temporarily reside in the country while developing business projects or even applying for Chilean nationality.
In this article, we will explain step by step how to acquire a company in Chile and the requirements to apply for an investor visa.
How to buy a company in Chile
If you’re interested in investing in our country but have doubts about how to proceed, don’t worry. Below, we outline the key steps you need to follow to successfully buy a company in Chile.
Investor Visa
To buy a company in Chile, you need an investor visa. This renewable temporary residence visa allows you to live in Chile for one or two years and legally carry out investment operations within the country. It is aimed at foreign nationals who have an investment project of 500,000 USD or more in Chile.
Market Analysis
Before buying a company, it is essential to conduct a thorough analysis of the Chilean market. Chile boasts a broad and dynamic business sector with opportunities in industries such as mining, energy, tourism, and technology. Evaluate different options and choose a company that fits your investment profile.
Due Diligence
Due diligence is a crucial process in any company acquisition. This includes reviewing financial statements, the legal and labor situation of the company, and any hidden liabilities it may have. A team of lawyers experienced in mergers and acquisitions can assist you in this task, ensuring that the company does not have legal problems that could affect your investment.
Negotiation and Contract Signing
Once you’ve selected the company, the next step is negotiating the price and terms of the purchase. This will detail aspects such as the purchase price, payment schedule, and the assets transferred with the company. It’s crucial to have legal support to ensure that the purchase agreement complies with local laws.
Property Transfer
The final step in acquiring the company is formalizing the property transfer. This is done through registration of the purchase in the Commercial Registry of Chile, where the new owner’s name is updated, and all legal rights to the company are secured.
¿What is and how does, the Investor Visa work in Chile?
The investor visa is a temporary residence visa aimed at foreign nationals wishing to invest in Chile. This visa grants the right to live and work in the country, initially for one or two years, and can be renewable.
One of the main requirements for applying for the investor visa is proving that the applicant has an investment of at least 500,000 USD. This investment must be directed toward a project that boosts the Chilean economy, fosters innovation, or generates employment.
¿How to apply for the investor visa in Chile?
According to the 2022 Migration Law, the Chilean investor visa is designed for foreigners who meet one of the following criteria:
- Direct investment: They have invested or intend to invest in a project in Chile valued at more than 500,000 USD.
- Business relationship: They work for a foreign company that holds at least 10% of the capital in a Chilean company.
Requirements and Application Process:
- In the first case, it is essential to provide proof of available funds for the investment.
- In the second case, it is necessary to demonstrate the legal connection between the foreign company and the Chilean one.
- You must gather the documents requested by InvestChile and the Chilean Migration Service.
- These documents must first be submitted to InvestChile. If the project is validated, the agency will issue a support letter.
- With the support letter, the applicant must submit the visa application through the Chilean Migration Service portal.
- After the visa approval, the investor can relocate to the country.
- Upon arrival in Chile, the investor must register at the Civil Registry within 30 days.
This process allows foreign investors to settle in Chile while ensuring compliance with the appropriate legal requirements.
It is important to note that visa applications from within Chile are no longer permitted for this type of visa.
¿What are the benefits of the investor visa?
The investor visa grants temporary residence in Chile, allowing investors to live in the country for an initial period of up to two years, with the possibility of renewal. During this time, you will have the right to work, which includes managing your business and hiring local staff.
Additionally, if you meet the residency and investment success requirements, you may apply for permanent residence in Chile. Eventually, if you continue to meet the deadlines and conditions, you could have the opportunity to obtain Chilean citizenship, further facilitating your integration into the country.
Final considerations
Buying a company in Chile and applying for an investor visa is an excellent opportunity to expand your business in a stable and open economy to foreign investment. However, it is essential to have the support of professionals who can advise you at every step of the process.
At Becker Abogados, we are here to help. Our team of experts in immigration and commercial law can guide you through the entire process, from purchasing the company to obtaining the visa.
¡Contact us today and ensure the success of your investment in Chile!
