- the requirement that 20% of the capital and profits derived from such investments be deposited with the Central Bank was abolished;
- it is now possible to invest abroad with export proceeds not formerly brought into Chile; and
- administrative controls have been simplified.
The changes also allow access to the regulated exchange market for the purchase of foreign exchange to cover expenses and investments in Chile or abroad, which relate to the acquisition of financial and tangible assets, the granting of loans, etc.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
For further information contact Anthony Cook, Deloitte & Touche, Santiago, Chile on Tel: +56 2 638 4186, Fax: +56 2 639 1522