Success tips when doing business in Chile in 2021
- Healy Consultants recommend all our Chilean Clients to thoroughly research the business sector they are planning to work in. Based on experience, we suggest preparing a detailed business plan including an extensive market study and evaluation of competitors;
- It is preferable to conduct business through a local contact who speaks Spanish as well as bringing an interpreter to meetings. Having your business card translated into Spanish is advisable;
- To optimize the success of your new business, our experts recommend that our Clients i) speak to your local Chilean embassy and ii) communicate with Healy Consultants’ Clients who successfully launched their business in the country;
- Punctuality is very important in business-related events, either meetings or invitations. However, this rule applies only to visitors, who probably should wait for its Chilean counterpart for 15 or 30 minutes;
- In Chile people tend to i) interact with little space between them ii) their way of negotiation is serious and straightforward and iii) do not like to handle with hard sell tactics or pressure;
- Chilean business are not as bureaucratic as other Latin American countries but the final decision are made by those in higher position which take their time to decide. Be patient.
Did you know about Chile?
- The Atacama Desert in Chile resembles Mars so much that many movies have used it to represent the planet. It is, also, the driest desert in the world;
- 77% of Chile population are happy and positive regarding their experiences in an average day. This figure is lower than the OECD average of 80%;
- Chile has an unusual shape and is the longest and thinnest country. Chile spans 4300 km in length and an average of 175km wide;
- According to the World Investment Report 2012, Chile took six place internationally on attraction of foreign direct investment in 2011;
- ICTs. Chile has achieve a tremendous progress in digital connectivity and information and communications technologies;
- Chile is one of the 20 most attractive economies in which to do business between 2010 and 2014 and leads Latin America according to Economist Intelligence Unit (EIU);
- Chile is one of the two South American countries that does not border Brazil;
- Chile gain its independence from Spanish colonial in 1913;
- Lake Chungara is one of the highest lakes above the sea level in the world;
- The Andes Mountains in Chile have some of the largest and active volcanoes in the world;
- All contracts and invoices between two Chilean companies must be denominated in Chilean pesos. Only contracts directly related to exports can be denominated in US$.