International Desk

Opening of Accounts

Resident Companies (Local Currency and/or Euro and/or USD)

Minimum documentation required (of the company)

• Unblemished business record, no record of unresolved complaints, or bad debts in the Financial System (for the legal person and proxies)
• Opening requires the approval of the Local Committee and
• No record of prohibitions on opening a current account
• No record of unresolved complaints, or bad debts in the Financial System
• No more than 3 unresolved complaints in the last 2 years and no more than 4 unresolved complaints in the last 5 years
• No record of prohibitions on opening a current account.

Minimum documentation required (of the proxies and signatories)

• Deed of Establishment of the Company and its Amendments if any
• Deed recording the powers granted to the persons who represent the company
• Extract, Certification and Publication in the Official Gazette (of the deed of establishment and any amendments)
• Copy of the entry of the Extract from the Deed of Establishment in the Commercial Register (CBR) with marginal notes in effect on the date
• Certificate of validity (if the deed is more than one year old)
• Personal details of the representative for shareholders which are companies
• Copy of the RUT of the company
• Copy of the IC of the legal representative (s) or shareholders

Currency

Chilean Pesos (CLP), Euros € and US $

Person responsible for the receipt of documents and supplementation of the file

• Account Executive/Relationship Manager

Time (days) in which the account is operational*

• 48 hrs. once accepted legal documentation. Tax Certificate for the establishment and powers of signature

Is a local proxy required?

• Yes. Since this simplifies all account opening formalities as well as future problems or requests that may arise. However, it is possible to limit the powers in accordance with the needs of the company.

Does the signature of the opening contract require physical presence? If the answer is NO, what are the alternatives?

• Yes, physical presence is required.
• Although it is common practice to perform this operation when companies do not have local management, authority is granted to the proxy who is conducting the registration of the company. POA

Other requirements/restrictions

• Not

NO Resident Companies

Minimum documentation required (of the company)

There are no non-resident accounts.
Mandatorily there must be a local company legally established to grant the current account.

Documentación mínima requerida (de los apoderados y firmantes)

Not Applicable

Currency

Not Applicable

Person responsible for the receipt of documents and supplementation of the file

Not Applicable

Time (days) in which the account is operational*

Not Applicable

Does the signature of the opening contract require physical presence? If the answer is NO, what are the alternatives?

Not Applicable

Other requirements/restrictions

Not Applicable