The Treasurer’s Guide to Trade Finance

(Martin Jones) #1

Chile


Chile imports exports

Bank accounts


ƒ Resident companies can hold local currency
(CLP) bank accounts outside Chile.
ƒ Resident companies can hold foreign
currency bank accounts within and outside
Chile, though a certification of domicile is

required for foreign currency accounts held
with commercial banks.
ƒ Non-resident companies can hold local
currency bank accounts in Chile, but
require a certification of domicile and a tax
identification number (RUT).

Principal exports
Copper, fruit, fish products, paper and pulp,
chemicals, and wine.

Documentation
Imports
ƒ Customs declaration, commercial invoice
(four copies in English or Spanish, including
a full description of the imported goods),
a bill of lading (two copies), a packing list
and, sometimes, a certificate of origin and a
technical standard/health certificate.
Exports
ƒ Customs declaration, commercial invoice
(including a full description of the exported
goods), a bill of lading, a packing list and,
sometimes, a certificate of origin and a
technical standard/health certificate.

Licences
Imports
None, though imports greater than USD 3,000
must be reported to customs (www.aduana.cl).
Exports
ƒ None.

Tariffs/Taxes
Imports
ƒ Most imports from countries that do not
have a free trade agreement with Chile are
charged import tax at the rate of 6 percent.
ƒ Imports are subject to a VAT rate of 19 percent.
ƒ Wheat, wheat flour and sugar are subject to a
price band system.
Exports
ƒ None.

Financing requirements for imports/
exports
ƒ None.

Prohibited items
Imports
ƒ Items that may harm public health or national
security, or for moral reasons or industrial
policy.
ƒ Used cars and tyres are restricted.
Exports
ƒ Endangered species and historical relics.
ƒ Government approval is necessary for
armaments, ammunition and hazardous
chemicals.

Trade information


Key trading partners

Imports by origin

USA 20.2%
China 16.9%
EU 13.8%
Brazil 8.3%
Argentina 6.3%
Other 34.5%

Source: WTO, September 2012

Exports by destination

China 22.8%
EU 17.7%
USA 11.2%
Japan 11.1%
Brazil 5.5%
Other 31.7%
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