Chile allows for three main types of legal entities to be used as business vehicles, all of which grant limited liability to their shareholders or partners: Limited liability partnerships (sociedades de responsabilidad limitada or “SRL”), stock corporations (sociedades anónimas), and company by shares (sociedades por acciones or “SpA”).
The SRL requires a minimum of two partners and allows a maximum of 50. SRLs generally require unanimous consent to amend their by-laws in any respect, accept new members or to allow existing partners to assign their interest.
