Key Figures

Chief of State:
President Sebastián Piñera Echenique
Head of Government:
President Sebastián Piñera Echenique

Overview

Government Name:
Republic of Chile
Constitution:
Adopted: 1980; Chapters cover information regarding the bases of institutionality, nationality and citizenry, constitutional rights and obligations, the government, electoral justice, armed forces, and the central bank.
Government Type:
Republic
Republic of Chile Flag
Coat of Arms of Republic of Chile

Index of Economic Freedom

Grades each country on a scale of 0 to 100, based on ten freedoms, with 100 representing the greatest amount of economic autonomy from government intervention. Source: Heritage Foundation (2018)

Country Risk Rating

A3
Changes in generally good but somewhat volatile political and economic environment can affect corporate payment behavior. A basically secure business environment can nonetheless give rise to occasional difficulties for companies. Corporate default probability is quite acceptable on average. Source: Coface (2018)

Government Branches

Main Powers Election Process Election Cycle 1
Executive

The president is responsible for the government and state administration.

The president is elected by absolute majority vote through a two-round system.

4 years

Judicial

The senate must be aware of the accusations made by the chamber of deputies, to lend or deny its consent to actions of the president of the republic in cases required by the constitution by law, and to provide its opinion to the president of the republic in requested cases.

The senate has 38 members who are elected through a closed party-list majority system.

4 years

Legislative

The chamber of deputies adopts agreements, suggests observations, and declares whether accusations should be acceptable.

The chamber of deputies has 120 members who are elected through a closed party-list majority system.

4 years

Regional Trade Blocs

International Organization Participation [2]

Environmental Agreements [3]

Tax Information [2]

Tax Authority:
Internal Revenue Service
Tax Name:
VAT

Sources:

  1. ElectionGuide http://www.electionguide.org/
  2. EY, http://www.ey.com
  3. CIA World Factbook, https://www.cia.gov/library/publications/the-world-factbook/
  4. U.S. Bilateral Relations Fact Sheets http://www.state.gov/r/pa/ei/bgn/