🇨🇱Country Overview
Chile is a country located in South America known for its political stability, economic growth, and openness to foreign investment.
Currency
Chilean Peso (CLP)
Population
19.5 million
Corporate Tax Rate
10% SME*
27% general regime
GDP PPP (2022)
604 billion USD
31,365 USD (2022)
Accounting Standard
IFRS
Minimum Salary
CLP $410.000 per month
About USD $500
Chile is a member of the OECD, the Pacific Alliance, and the Trans-Pacific Partnership. The country also has a large number of free trade agreements with other countries, making it an attractive destination for foreign investment.
The population of Chile is estimated to be 19.3 million which gives a GDP per capita PPP of $31,375. This places Chile in 28th place in the World Economics Global Wealth rankings and 3rd for Americas.
It is among the most economically and socially stable nations in South America, leading Latin America in rankings of competitiveness, per capita income, globalization, state of peace, and economic freedom. Chile has been chosen by Bloomberg in 2023 as the most secure country to invest in Latin America.
Chile possesses a high degree of economic freedom and a low level of corruption. In the last 30 years, different governments implemented several legal and regulatory reforms to improve the ease of doing business in the country.
The corporate tax rate in Chile is 10% for SMEs (will go back to 25%) and 27%, which is relatively low compared to other countries in the region.
Chile also has a value-added tax (VAT) system, with a standard rate of 19%. The country also has a number of tax incentives and exemptions for certain types of investment.
Chile also has a well-developed financial sector, with a number of banks, insurance companies, and other financial institutions operating in the country. The country's stock exchange, the Santiago Stock Exchange, is the third largest in Latin America in terms of market capitalization.
In summary, Chile is a stable and attractive destination for foreign investment, with a business-friendly environment, a low corporate tax rate, and a well-developed financial sector.
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