Why establish a company in Chile, instead of somewhere else in South America in 2024?
Chile has established itself as one of the most attractive destinations for entrepreneurs and investors in South America. The combination of economic stability, business-friendly policies, developed infrastructure, and a clear regulatory environment makes setting up a business in Chile an advantageous option compared to other countries in the region. Here we break down the key reasons that make Chile a preferred choice for setting up a business.
Economic and Political Stability
One of the main reasons for choosing Chile is its economic and political stability. Over the past decades, Chile has maintained consistent economic growth and low inflation, providing a predictable and safe environment for business. Unlike other South American countries that face recurring economic crises, the Chilean economy has proven to be resilient and attractive to foreign investment.
Pro-business Policies
Chile has implemented a series of policies that facilitate the creation and operation of companies. The country stands out for having one of the most efficient systems for opening businesses in the region. According to the World Bank, Chile is one of the best countries in Latin America to do business due to its ease of obtaining permits, registering properties and accessing credit.
Additionally, Chile has signed numerous free trade agreements with major economies, including the United States, the European Union and China. These agreements not only facilitate international trade, but also offer companies based in Chile access to global markets.
Infrastructure and Connectivity
Chile has a first-class infrastructure compared to other South American countries. The country has a well-developed network of roads and ports, which facilitates the transportation of goods both nationally and internationally. In addition, Santiago, the capital, is an air transport hub in the region, offering direct connections to various parts of the world.
The digital infrastructure is also advanced, with a high level of internet penetration and technological services. This enabling environment is crucial for modern businesses that rely on connectivity and technology to operate effectively.
Human capital
Chile has an educated and qualified workforce. The country invests significantly in education and training, resulting in a competitive and competent workforce. Chilean universities are recognized in the region, and there is a growing focus on innovation and entrepreneurship, supported by both the government and the private sector.
Additionally, English proficiency is increasing, making it easier for international companies to communicate and operate in the country.
Entrepreneurship Support
The entrepreneurial ecosystem in Chile is one of the most dynamic in the region. Initiatives such as Start-Up Chile have been fundamental in attracting and supporting entrepreneurs from all over the world. This program offers financing, support networks and mentoring, which creates a favorable environment for innovation and the development of new companies.
Clear Regulatory Environment
Chile is characterized by having a clear and transparent legal and regulatory framework. This reduces the uncertainty and risks associated with investing and operating businesses. The protection of property rights and the effective application of contract laws are aspects that give confidence to investors.
Conclusion for 2024
Setting up a company in Chile offers multiple advantages that position it as a preferred destination over other South American countries. Economic and political stability, pro-business policies, advanced infrastructure, qualified human capital, support for entrepreneurship and a clear regulatory environment are determining factors that make Chile an attractive and safe option for entrepreneurs. In a continent full of opportunities and challenges, Chile stands out as a beacon of stability and growth, offering the fertile ground necessary for businesses to flourish and prosper.
