Business Reforms in Chile
= Doing Business reform making it easier to do business. = Change making it more difficult to do business.
Paying Taxes: Chile made paying taxes more costly for companies by increasing the corporate income tax rate.
Resolving Insolvency: Chile made resolving insolvency easier by clarifying and simplifying provisions on liquidation and reorganization, introducing provisions to facilitate the continuation of the debtor’s business during insolvency, establishing a public office responsible for the general administration of insolvency proceedings and creating specialized insolvency courts.
Starting a Business: Chile made starting a business easier by creating a new online system for business registration.
Starting a Business: Chile made business start-up easier by starting to provide an immediate temporary operating license to new companies, eliminating the requirement for an inspection of premises by the tax authority before new companies can begin operations and allowing free online publication of the notice of a company’s creation.
Getting Credit: Chile strengthened its secured transactions system by implementing a unified collateral registry and a new legal framework for nonpossessory security interests.
Trading across Borders: Chile made trading across borders faster by implementing an online electronic data interchange system for customs operations.
Starting a Business: Chile made business start-up easier by introducing an online system for registration and for filing the request for publication.
Protecting Minority Investors: An amendment to Chile’s securities law strengthened investor protections by requiring greater corporate disclosure and regulating the approval of transactions between interested parties.