Chile Resurfaces Beneficial Ownership Registry Bill in Senate

Chile’s Senate Finance Committee began discussions on a bill to create a registry of ultimate beneficial owners of companies active in the country.

Under the proposal, anyone with a stake of 10% or more in a company registered in Chile must declare themselves on the register, which will be administered by the tax authority.

Legal representatives, directors, administrators, and trust beneficiaries must also disclose their roles.

• The bill was first sent to the Senate in December 2023 but was not discussed until this week. The proposal was included in a recent deal between the government and Congress to ...