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Why Californian nut growers are moving to South America

Almonds, walnuts, and pistachios are making bank in the Golden State—but the groundwater supply is paying the price. California has entered the age of King Nut: The state produces more than 80 percent of the world’s almonds, and roughly 30 and 40 percent of the world’s pistachios and walnuts, respectively. Most of the production takes place in the Central Valley, a swath of farmland in California’s midsection. A single almond requires 3.8 litres of water to grow—bad news in the midst of…

Chile decisively rejects the proposed new leftist constitution giving a sigh of relief to the middle and upper classes.

Chileans rejected a new constitution in a referendum on Sunday, dealing a blow to a three-year campaign to overhaul politics and temper free-market policies that made the deeply unequal society an investor darling. With 48 per cent of the ballots counted, 62.6 per cent voted against a proposed charter drawn up over the past year by a popularly elected convention, compared with just 37.4 per cent for its approval. Chilean markets are likely to rally on Monday (Tuesday AEST). While polls had anticipated that…

FOREIGN INVESTOR’S GUIDE TO CHILE

A STEP-BY-STEP GUIDE TO INVESTING IN CHILE LAST UPDATED ON OCTOBER 2021 Content CHAPTER I: FOREIGN INVESTMENT PROTECTION CHAPTER II: INVESTMENT INCENTIVES CHAPTER III: SETTING UP A COMPANY IN CHILE CHAPTER IV: THE TAX SYSTEM CHAPTER V: FOREIGN TRADE CHAPTER VI: ENVIRONMENTAL ASSESSMENT SYSTEM CHAPTER VII: IMMIGRATION REGULATIONS CHAPTER VIII: LABOR LEGISLATION CHAPTER IX: SOCIAL SECURITY CHAPTER X: INTELLECTUAL PROPERTY CHAPTER XI: PERSONAL DATA PROTECTION AND PRIVACY CHAPTER XII: CONSUMER PROTECTION CHAPTER…

Chile Investor’s Guide: Visas and foreign citizens

Chile has become South America’s “talent magnet”. According to official figures, applications for temporary work visas increased by 381% between 2005 and 2016 while, in the case of visas subject to a work contract, the increase reached 206%. In general terms, five types of visa are issued by Chile: Tourist Visa, Visa Subject to Work Contract, Temporary Residence Visa, Student Visa and Permanent Residence. In addition, a fast-track Visa Tech program is available for overseas professionals…

Investing in Chile: FDI Hits Historic Record

Investing in Chile has hit a historic record in 2021, with $13.72 billion of foreign direct investment (FDI) entering the country in the first six months of the year — a 66% increase on the same period last year. That figure far exceeds the $8.23 billion that entered the country in the entire of 2020 and represents the highest level of FDI witnessed in a six-month period since current recording methods began in 2003 (all figures in USD). The record was announced by Chile’s central bank and offers just the…

How to Buy Property in Santiago de Chile

Over recent decades, the housing market in the Chilean capital Santiago has seen steady growth amid a generally high-level of prosperity in the country, making it one of the most lucrative real estate markets in Latin America. As such, a popular choice among investors is to buy property in Santiago, including as a potentially profitable alternative to renting among those whose primary intention is to incorporate a company in Chile, or otherwise do business in the country unrelated to real estate. Chile…

Tax Filing in Chile: What You Need to Know

If you are looking to enter the Chilean market, or already do business there, it is worth having an understanding of tax filing in Chile. Because while it is highly likely your tax affairs will be handled by corporate accountants in Chile, having a grasp of the requirements needed to remain in good standing with local authorities will be beneficial to your business. Chile is a prosperous high-income country, as highlighted by its gross national income, which reached $24,140 (all figures in USD) in 2019, after three…

Chile heads into 2021 with a stronger economy but more political uncertainty.

Chile appears to be heading towards a period of political turmoil, accompanied by economic strength. It’s a credit to Chile’s institutional solidity that the sometimes-violent protests of October 2019 have now been channelled into a peaceful, democratic process. The result of the October 2020 referendum was never in doubt, but the margin of victory was greater than expected with 78% voting in favour of a new constitution. Political divisions For investors that vote signals the start of a two-year period…

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…

Chile: The Gateway To Latin America For Australian Business

Chile is well known as a regional favourite for Australian businesses looking to make their first moves into the Latin American market. Though the region overall is showing signs of impressive growth and a number of regional powers are emerging, Chile remains a firm favourite for Australia’s ambitious companies. Strong bilateral connections, close geographic proximity and similar economic strengths make Chile an ideal destination for Australian entrepreneurs. Chile: A Top LATAM Investment Destination Chile…

What You Need to Know Before Exporting to Chile

Chile’s importance to USA trade Situated along more than 2,600 miles of South America’s west coast, Chile is a very strong trade partner and export market for American companies. In fact, 100% of U.S. exports enter Chile duty-free, making doing business with Chile very appealing. The U.S. is Chile’s second highest trade partner, ranking only behind China. Watch the video brought to you by the U.S. Commercial Service to get a better taste of what business opportunities lie in Chile. Contact the Gateway…

New Legal Framework for Foreign Direct Investment in Chile

On 1 January 2016, the new legal framework for foreign direct investment in Chile (the “New Law”) was enacted to replace the Decree Law 600 ( ̈DL 600 ̈) that has been in place since 1974. DL600 regulated the entry of foreign capital as investments into Chile. It provided investors with guaranteed certainties, rights and certain tax advantages. Individuals, legal entities or Chileans residing abroad could bring funds into Chile under this regulation. It was utilised by a wide range of industries but was…

Chilean agriculture is expected to become part of the 10 largest food exporters in the world by 2020

Agriculture in Chile is a strategically important sector. The objective is to make Chile part of the 10 largest food exporters in the world by 2020. At the moment Chile is round about No: 20. From the beginning of this century food export increased by an average of 12% annually. Further processing and surplus values are central in the policy. Primary production is only a small part of the gross national product. Because of the closed-in position of the country sanitary provisions are second to none and these…

Chile the most globalised economy in Latin America, says report

Chile has emerged as the most globalized economy in Latin America and moved up to 25th place in the world, according to global consulting firm Ernst & Young. Chile is among the countries to improve their position despite global economic uncertainty, the firm’s annual Globalization Index found. “Unlike other countries, the policies of Chilean governments have promoted openness in times of turbulence, taking the sufficient precautions so the economic turmoil does not hit the country hard,” Cristián…
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