Corporate Bank Account in Chile
Open and maintain a corporate bank account in Chile with the right documentation and bank choice from the start, so a newly formed SpA isn't stuck waiting on a trading-history requirement it can't yet meet.
Account Opening Timeline
2-4 weeks
Tax ID
RUT
Primary Registry
CMF
Corporate Bank Account in Chile: What You Need to Know
Opening a corporate bank account in Chile for a foreign-owned SpA requires the articles of incorporation, the Extracto inscrito at the Conservador de Comercio with its Diario Oficial publication, the RUT, and the SII Inicio de Actividades affidavit, alongside a Vigencia de Poderes certificate, typically no more than 30 days old, proving the legal representative's current authority. The legal representative must attend the branch in person to execute the signature card, even when the application itself was initiated online, and foreign shareholder documents need apostille and official translation, with any power of attorney granted from abroad handled either through a Chilean consulate or a foreign notary followed by apostille. Larger private banks like Itaú commonly gate standard corporate accounts on roughly 24 months of activity and meaningful annual revenue, a bar a brand-new foreign subsidiary can't clear, while BancoEstado and BCI run dedicated programs for newer companies. Source-of-funds documentation and UBO disclosure are the main driver of delay beyond the typical 2 to 4 week timeline for a straightforward application.
Key Requirements
Articles of incorporation, the Extracto inscrito at the Conservador de Comercio and its Diario Oficial publication, the RUT, and the SII Inicio de Actividades affidavit
A Vigencia de Poderes certificate, typically required to be less than 30 days old, proving the legal representative's current authority to act for the company
In-person attendance by the legal representative at the branch to execute the signature card, even when the application itself was initiated online
Foreign shareholder documents apostilled (or legalized via Chilean consulate) and officially translated, with a power of attorney granted from abroad through either a Chilean consulate or a foreign notary followed by apostille
Source-of-funds documentation and UBO disclosure, the main driver of any delay beyond the typical 2 to 4 week timeline for a straightforward application
Choosing a bank realistically matched to the entity's track record, since larger private banks commonly impose activity-history and revenue thresholds (in the range of 24 months and several thousand UF) that a brand-new foreign subsidiary won't meet, while BancoEstado and BCI's newer-company programs don't
Common Challenges
Large private banks often gate on trading history a new entity doesn't have yet
Banks like Itaú commonly require roughly 24 months of activity and meaningful annual revenue for a standard corporate account, a bar a newly formed subsidiary can't clear. Starting with BancoEstado or BCI's dedicated new-company programs avoids applying somewhere the entity was never going to qualify.
In-person signature execution hasn't gone away, even as e-signature adoption grows elsewhere
Chile has embraced advanced electronic signatures for many filings, but banks generally still require the legal representative to execute the account's signature card in person at a branch. Don't assume a fully remote process based on other digital-signature news.
Tenpo and Global66 are genuinely new options, not yet proven for every use case
Tenpo became Chile's first newly authorized retail bank in about 20 years in January 2026 and is still building out its business-account products, and Global66's multi-currency business account is a real alternative but less established for corporate banking than the traditional players. Worth evaluating, not yet a default choice.
How NavviPal Helps
Coordination of the Extracto inscrito, RUT, Inicio de Actividades, and a current Vigencia de Poderes so the application isn't held up by an expired document
In-person account-opening logistics for the legal representative, and proper handling of a power of attorney granted from abroad
Apostille and certified translation of foreign shareholder documents for every layer of the ownership structure
Guidance on which bank actually fits a newly formed entity's track record, so the application goes to a bank that will realistically approve it
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