• Law N° 20,659: Simplifies the Statute for Incorporating, Amending and Dissolving Commercial Companies
  • August 15, 2014 | Authors: Cristián Eyzaguirre; Arturo Poblete; Jorge Ugarte
  • Law Firm: Carey - Santiago Office
  • Last May 2nd, the new law N° 20,659 entered into force, also known as the "Express Companies Act", which permits the incorporation of a company and its registration for a tax ID number in just one day. This new simplified system for the incorporation and modification of commercial companies is part of an important effort of the State of Chile to facilitate and make more cost-efficient the legal process necessary for the incorporation or modification of a commercial company, thus incentivizing the creation and development of new enterprises.