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5 Tips for business success for US companies in Chile

As one of the world’s most entrepreneurial nations, there are ample business opportunities for US companies in Chile. Chile and the US have maintained a strong commercial relationship dating back to 1918. In 2019, both countries celebrated their 100th anniversary of the Chilean-American Chamber of Commerce. This longstanding and mutually beneficial commercial relationship has fostered strong connections between the 2 countries. For decades, Chile has modelled its economy and institutional foundations on…

Inheritance and Wills in Chile

The basic order of inheritance in Chile after someone dies is that of surviving spouse, children, parents, grandparents, siblings, and then cousins. This also includes the rights of spouses and children for their direct ascendant or decedent to inherit. You are allowed to give a certain percentage of your estate in a will to whomever you like, but for the most part, you can not avoid giving these family members with mandatory inheritor rights a portion of your estate by just drafting a will. There are certain…

” Open veins of Latin America” A must read for anyone thinking of doing business or living in Latin America

This translated book begins with a foreword by left-wing writer Isabel Allende, and here is  just one quote from her  introduction of the book: “His work is a mixture of meticulous detail, political conviction, poetic flair, and good storytelling.” The translation by Cedric Belfrage merits special note. This book sings in English, and the translator has done justice to the original. A major recurring theme throughout the book is that of capital squandered by the few while the many actually producing…

10 property tips when buying

My thoughts from 30 yrs in the real estate industry. Tip 1: Contact your broker, don’t wait for them to contact you â€“ Good properties always sell even in a tough market. Your ability to buy the best properties that tick all of your boxes comes down to the relationships you have with the local brokers, so take the lead and make sure they always think of you first when they become aware of that perfect property. Tip 2: Buy when you can afford to buy â€“ You will never get: (1) High growth,…

Chile Stuns Markets as Unemployment Falls, Manufacturing Rises

Chile’s jobless rate fell and manufacturing output rose late in the year, surprising analysts who had forecast a steep downturn as nationwide protests shuttered businesses and delayed investments. The unemployment rate slid to 6.9% in the three months through November from 7% in the month-earlier period, the national statistics institute said Tuesday, far below the 7.6% median estimate of analysts surveyed by Bloomberg. Manufacturing expanded 3.2% in November from a year ago, compared with the median estimate…

Chile to Tap Foreign Investors as Reputation Survives Protests

Chile’s foreign reputation for sound fiscal management has survived the biggest social upheaval in a generation largely intact, market indicators show. The government says it now intends to cash in on that credibility. The South American nation plans to issue $8.7 billion of bonds next year, of which $5.3 billion will be sold abroad, up from about $3 billion this year. Of those foreign bond sales, $3.3 billion will be in dollars and euros and the rest will be denominated in Chilean pesos but targeted…

Foreign direct investment in Chile increases by 64% to USD 10.325 Billion in the first ten months

In October, the net inflow of foreign direct investment reached USD 850 million. At USD10.325 billion, foreign direct investment (FDI) in Chile in the first ten months of this year represented an increase of 64% on the same period last year and was in line with its performance over the past five |years (an average of USD10.584 billion for 2015-2019). According to the Central Bank of Chile, there was a net inflow of USDv850 million in October. The figure reflects a high level of equity contributions, which reached…

Bloomberg analysis: “Chile seeks to emerge from its crisis but is paying a very high price”

“It is at stake not only for social peace but also for the reputation of Chile’s fiscal prudence that has earned it the highest sovereign debt rating in Latin America,” the agency says. Chile bets on its status as a model example in favor of the market as the government rules out plans to reduce debt in favor of at least $1.5 billion per year in additional social expenses to appease the protesters. In the midst of violent demonstrations that reach a second month, officials are now planning…

Why did GTSA develop the vendeRAPIDO® selling process for selling real estate in South America?

There are two reasons. To speed up the selling time and maximise the properties value  Current Market Realities South American real estate markets are in the main lightly regulated and highly informal. What this means for vendors is they are at a strong disadvantage when they come to selling a property within a reasonable time frame.  Traditional times of sale are measured in months and years.   Consequently, transaction costs are among the highest in the world.  With the globalization of real estate GTSA…

Piñera says the Chile protests involved foreign intervention

The Chilean President said that he has received information from the U.S. State Department. suggesting that behind the violence there is more at play than “habitual criminals” Chile’s president Sebastián Piñera said his government is investigating foreign intervention in last month’s violent protests in one of the most prosperous countries in the region. “There’s a lot evidence that behind this situation there are forces that previously they did not know were operating…

Piñera Surrenders, Will Accept New Chile Constitution

A new constitution is not only the beginning of the end for Piñera’s center-right government, but it is also the end of Chile as we know it While the socialist Evo Morales resigned as president of Bolivia, the Chilean government, through its Home Affairs Minister, announced that the process of creating a “constituent congress” had begun. In other words, politicians in the Chilean Congress have to draft a new constitution that is in line with current times and generate the “social pact” that the people…

Chile’s Success Story Is Difficult to Deny

Weeks after a 3.75% rise in metro fares in Santiago, Chile sparked violent protests by a small group of students that then generated more widespread disruption, mostly peaceful mass protests continue. Some observers have seized on the political crisis to make often-repeated claims that Chile’s free-market model has generated growing inequality and been fundamentally unjust despite having produced greater wealth. Yet such claims are difficult to square with the facts. Since its free-market reforms began in…

Chile – Brutal Tax proposals impacting multinational entities

On 8 November 2019, the Chilean government reached an agreement with the Senate’s Finance Commission to strengthen the government’s social agenda. The three principles of such agreement are:1. To increase tax revenues to fund the Government’s social agenda. 2. To assist the aged population 3. To support SMEs from a tax perspective.  This agreement will probably also result in amendments to the original Tax Modernisation Bill submitted by the Government months ago, while other measures will be subject…

Myths and Truths of Inequality in Chile: To What Extent this explains the outbursts shaking this advanced country

The profound differences between the upper tiers and the rest of the population are presented as the unique cause of the phenomenal crisis that the country has been experiencing for the past three weeks. However, the statistics show a contradictory reality, which does not stand up to simplistic explanations. After the deep economic reforms implemented during the dictatorship of Augusto Pinochet, and since deepened since the return of democracy in 1990, Chile became a paradigm. For free-market advocates, it…

Chile created five national parks over 10 million acres in a historic act of conservation

Chile created five sprawling national parks to preserve vast tracts of Patagonia – the culmination of more than two decades of land acquisition by the US philanthropists Doug Tompkins and Kristine McDivitt Tompkins and the largest donation of private land to the government in South America. The five parks, spanning 10.3m acres, were signed into law by Chile’s ex-president Michelle Bachelet in 2017, launching a new 17-park route that stretches down the southern spine of Chile to Cape Horn. McDivitt Tompkins,…
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