Corporations

Steps for revoking and naming a new agent for agencies of foreign companies formed in Chile

1 Request for original documents – new agent

Agent: To start the process, of revoking and naming a new agent, it is necessary to request a certified copy of the bylaws of the main company, a certified copy of the registry on which the company was registered, and a certificate of Good Standing of the company. All of these documents must be translated to Spanish by an official translator.

2 Drafting of a public deed where the representatives of the foreign company revoke the previous agent and name a new one

Before proceeding with the replacement of the agent in Chile, the proxies of the company must draft a public deed which must explicitly revoke the previously designated agent and name a new one, with broad powers. It is recommended to draft this public deed in both English and Spanish, on two columns, as if it is drafted in English an official translation will be required. Do not forget, that like in a Chilean company an Agency in Chile needs also a Chilean or a foreigner with a valid residence in Chile as agent.

The public deed must then be apostilled for Chile and sent in original to our offices, with the documents listed in number 1.

3 Protocolization of the public deed before Notary Public

The public deed must then be protocolized before the Notary Public on which the Agency was originally created. This protocolization must also include the certified copy of the bylaws, the certified copy of the registry and the certificate of good standing.

4 Drafting of a new public deed

At the same date and before the same Notary Public, the new Agent must draft a new public deed, which must include the following statements:

a.-That the naming of the previous Agent is hereby revoked, and that a new one was named, referencing the deed on which this is stated

b.-That the entity is aware of Chilean regulations by which they will be regulated on the country

c-That the company’s assets are regulated by Chilean law, specially regarding the compliance of local regulations

d.-That the entity will keep easily liquidated assets in Chile to respond to local obligations

e.-The name, social object, domicile and, equity of the Agency

f.-The name of the new agent

5 Drafting of an excerpt of the Agent public deed

After the public deed is drafted, the same Notary Public must create a certified excerpt of the public deed, which must include the date and number of both the prior protocolization and the new public deed, the name of the foreign company, the name with which the Agency will operate in Chile, it’s domicile, equity and the name of the Agent.

6 Registration of the excerpt in the Commerce Registry

The drafted excerpt must be registered on the Commerce Registry of the Real State Register corresponding to the domicile of the company, within 60 days of the date of the new public deed.

7 Publication of the excerpt on the Official Gazette

The certified excerpt must be published once on the Official Gazette within 60 days of the date of the new public deed.

Last modified: 14/01/2022