Chile
How business transactions are conducted in: 
Chile
BASIC TRANSACTION INFORMATION Commissions:
Commissions are paid by the buyer and the seller. Property, ownership, title insurance:
- Title of ownership is recorded in the registry of property.
- Title to personal property can be transferred either by public or private instrument.
Transaction information systems:
Transactions are recorded in the Registries of Property. Additionally there are some private agencies providing information. Real estate trade associations:
Camara Chilena de la Construccion
Marchant Pereira, Numero 10, Piso 3,Providencia
Chile
phone: +562-233-1131
fax: +562-232-76000 License requirements:
License is required. Foreigners can also get a license. Forms of ownership:
Sole ownership, communityproperty, corporate ownership, partnerships and joint ventures exist in Chile. Liability depends on the particular form of business partnership. Contracts:
Formal contracts are recommended to make the transaction safe. Attorney or notary draws up property listings and sales contracts. Mortgages:
Mortgages will be recorded in a mortgage registry. Multiple mortgages on thesame subject are not allowed. Financing and lending practices:
Fixed rate loans are common in Chile. LTVs are 60% or greater. Banks or other private organizations issue loans. Taxation:
Tax is 20% on the assessed value of real property. Assessments are made every 5 years.
BASIC BUSINESS CULTURE Fashion:
Style is European and sophisticated in the suburbs. Basic cultural skills:
Handshake and eye contact are appropriate for formal greeting. Titles should be used. Avoid excessive gestures.
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