Personal accounts: Chile

Updated 5 October 2026

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Chile is one of Latin America's most stable economies, and Santiago is its business and financial centre. Banks are supervised by the Financial Market Commission, and tax registration is handled by the Internal Revenue Service (SII): without a tax number (RUT) for the company and its owners, a bank will not open an account. A corporate account in Santiago is usually opened for a Chilean company, so the company and the account are planned together.

What a corporate account needs

• A Chilean company with registration and a tax number.
• Tax numbers for foreign members and representatives.
• A local representative and an address in Chile.
• A business plan, contracts and expected turnover.
• The source of funds of the owners and capital.

Company taxes in Chile

First category tax, i.e. corporate income tax, is 27% under the general regime. Small and medium businesses have a separate regime with a permanent rate of 25%, temporarily reduced to 12.5% for the 2025, 2026 and 2027 commercial years and to 15% for 2028. Owners under this regime are taxed on actual distributions. More on our Chile taxes page.

How the account opening works

1. Company and tax number. We register the company and obtain tax numbers for it and the foreign members.
2. Choosing the bank. We match the bank to the currency, turnover and payment countries.
3. Documents. We prepare constitutional documents, owner details, a business plan and proof of funds.
4. Bank meeting. The bank meets the representative and reviews the business.
5. Opening. After its checks the bank opens the account.

Documents

• the Chilean company's constitutional documents and tax number;
• passports and tax numbers of members and the representative;
• proof of the company's address in Chile;
• a business plan, contracts and proof of source of funds.

Personal account

Banks open accounts for individuals with a tax number, verified address and income in Chile, so people relocating usually open one after obtaining residence and a tax number.

Why applications are refused

• no tax number for the company or owners;
• the company has no activity in Chile;
• an opaque ownership structure or unclear source of funds;
• links to sanctioned countries.

What we do

We register the company, obtain tax numbers, choose the bank, prepare documents and handle the account opening. If you are moving to Chile with your own project, see the Chile startup programme. A manager will calculate the cost in the chat.

A personal account in Chile

A Chilean bank opens a personal account with the foreigner identity card issued to residents after a visa, and a tax number. Only some banks open an account for a non-resident with a passport. For people relocating the account is needed for rent, salary and buying property, so we obtain the tax number in advance, before the move. More on buying in property in Chile.

What we do

• Personal account - opening assistance

See also

Company formation · Business account · Investment property · Country taxes · All country programs

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