Why do business in Chile?

The economy in Chile is relatively strong, with a sound economic policy and high volumes of foreign trade. Chile is the wealthiest nation in South America.

Because of the 2009 recession the government approved a $4 billion stimulus plan, which has resulted in a recovery of the economy since then. Its capital market is the largest in the region. Private property of its citizens is well protected. Contractual agreements are the most secure in Latin America.

Chile's welcoming attitude toward foreign direct investment is codified in the country's Foreign Investment Law, which gives foreign investors the same treatment as Chileans. Registration is simple and transparent, and foreign investors are guaranteed access to the official foreign exchange market to repatriate their profits and capital. The Central Bank decided in May 1999 on the removal of the 1-year residency requirement on foreign capital entering Chile under Central Bank regulations, generally for portfolio investments.

There are many opportunities for conducting business and investing in Chile. With the opening of European and Asian markets, the export of forestry products, vegetables, fruit, and fish-increased significantly. Chile has also become a leading wine-producing country. Other areas of opportunity and expansion include tourism. Chile, especially its adventure tourism sub-sector, has benefited from the recent boom in global tourism. This services sector, too, has enormous potential for future development.

Religion and Language in Chile

Religion

Over 70% of Chileans identify as Roman Catholic. 15.1% are Evangelicals and the rest of its population is a mix of religions. The Constitution provides for freedom of religion, and other laws and policies contribute to the generally free practice of religion. The law at all levels protects this right in full against abuse.

Church and state are officially separate in Chile. The 1999 law on religion prohibits religious discrimination. However, the Catholic Church enjoys a privileged status and occasionally receives preferential treatment.

The Government-observed religious holidays include Christmas, Good Friday, the Feast of the Virgin of Carmen, the Feast of Saints Peter and Paul, the Feast of the Assumption, All Saints' Day, and the Feast of the Immaculate Conception as national holidays

Languages

The Spanish spoken in Chile is distinctively accented and quite unlike that of neighboring South American countries because final syllables and "s" sounds are dropped, and some consonants have a soft pronunciation.

German is spoken to a great extent in southern Chile, either in small country side pockets or as a second language among the communities of larger cities.

Through initiatives such as the English Opens Doors program, the government made English mandatory for students in fifth-grade and above in public schools. Most private schools in Chile start teaching English from kindergarten.