South America country comparisons in 2025
| Summary at a Glance | Brazil | Chile | Argentina | Uruguay |
|---|---|---|---|---|
| How long to set the company up? | 20 weeks | 9 weeks | 12 weeks | 9 weeks |
| How long to open company bank account? | 8 weeks | 4 weeks | 8 weeks | 4 weeks |
| Issued share capital required | US$1 | US$1 | US$1 | US$1 |
| Corporate bank account | SCB Brazil | Banco Edwards Citi | ABN Amro Argentina | SCB Uruguay |
| Tenancy agreement required before incorporation? | No | No | Yes | No |
| Do you visit the country for company incorporation? | No | No | No | No |
| Resident director required? | No | Yes | Yes | No |
| Resident agent required | Yes | No | No | Yes |
| Legal considerations | ||||
| Resident shareholder required? | No | No | No | No |
| Minimum number of directors | 1 | 1 | 1 | 1 |
| Minimum number of shareholders | 2 | 2 | 2 | 2 |
| Resident company secretary | No | No | Yes | Yes |
| Individual shareholders allowed | Yes | Yes | Yes | Yes |
| Corporate shareholders allowed | Yes | Yes | Yes | Yes |
| Corporate director(s) allowed | Yes | Yes | Yes | Yes |
| Public register of shareholders and directors | Yes | Yes | Yes | No |
| All business permitted for foreigners | No | Yes, except hyrdocarbon | Yes | Yes |
| Tax and accounting considerations | ||||
| Corporate tax payable | 34% | 25% | 35% | 25% |
| Statutory audit required | No | No | Yes | No |
| Annual tax return to be submitted | Yes | Yes | Yes | Yes |
| Access to how many double tax treaties | 29 | 28 | 15 | 10 |
| Free zones available | 4 | 2 | 10 | 9 |
| Withholding tax payable | 8% – 28% | 35% | 35% | 7% |
| How long to get work permit approved | 4 weeks | 4 weeks | 4 weeks | 4 weeks |
| Can the entity hire expatriate staff in the country? | Yes | Yes | Yes | Yes |
| Logistic considerations | ||||
| Allowed to invoice/sign sales contracts with local clients | Yes | Yes | Yes | Yes |
| Can rent office premises in the country | Yes | Yes | Yes | Yes |
| Allowed to import raw materials? | Yes | Yes | Yes | Yes |
| Allowed to export goods? | Yes | Yes | Yes | Yes |
| Average monthly salary skilled labour (US$) | US$1,600 | US$2,700 | US$5,100 | US$2,500 |
| Average monthly salary unskilled labour (US$) | US$567 | US$1,000 | US$600 | US$800 |
| What % of population speak English | 5% | 10% | 6% | 6% |
| Literacy rate (%) | 90% | 96% | 98% | 98% |
| Computer literacy rate (%) | 46% | 40% | 66% | 57% |
| Office rental square meter per month (US$) | US$55 | US$30 | US$33 | US$20 |
| Country credit rating | A- | AA+ | CCC+ | BBB- |
| Internet connectivity rating | 89% | 45% | 78% | 58% |
| Global business efficiency index score (higher better) | 50% | 72% | 38% | 31% |
| Ease of doing business global ranking (lower better) | 130 | 37 | 124 | 89 |
| GDP per capita (US$) | US$11,340 | US$15,363 | US$11,558 | US$14,449 |
| Population (in million) | 195 million | 17 million | 41 million | 3 million |
| Unemployment rate | 6% | 6% | 7% | 6% |
| Inflation rate (2013) | 6.1% | 2.2% | 9.8% | 8.1% |
| GDP 2012 | US$2.3 trillion | US$268 billion | US$474 billion | US$49 billion |
| Real GDP Growth rate (2012) | 3% | 5% | 2.6% | 3.5% |
