GENERAL AGREEMENT GATS/SC/18
15April 1994
ONTRADE INSERVICES (94-1016)
CHILE
Schedule ofSpecific Commitments
(This isauthentic inSpanish only)
____________________CHILE -SCHEDULE OFSPECIFIC COMMITMENTS
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
I. HORIZONTAL COMMITMENTS
Allsectors included inthis
Schedule3) Thecommitments inthisSchedule extend
onlytosuppliers ofservices whooperate in
Chile through acommercial presence,
when theyestablish themselves asaforeign
investment andcomply withtherules and
legal procedures ondirect foreign
investment inforce. Thecommercial
presence covered bythisSchedule isthat
effected solely through theForeign
Investment Statute andfinanced byexternal
capital.
Authorization todeliver services through a
commercial presence maytakeintoaccount
thefollowing criteria:3) Foreign investors maytransfer abroad their
capital following theelapse ofthree years
from thedateofentry.
Real estate acquisitions andthe
performance ofother legal actsinfrontier
zones must comply withtheprovisions of
therelevant legislation, which isunbound
forthepurposes ofthisSchedule. The
frontier zone isdefined aslandsituated
within adistance of10kmmeasured from
thefrontier and5kmfrom thecoast and
Arica province.
a) Theeffect ofthecommercial presence on
economic activity, including theeffect on
employment, ontheuseofparts,
components andservices produced inChile
andonexports ofservices;Asregards services thatfallunder the
heading "professional services" atleast
85% ofthestaffemployed byasupplier of
services established inChile must be
Chilean.
b) Theeffect ofthecommercial presence on
productivity, industrial efficiency,
technological development andproduct
innovation inChile;Asregards allother services listed inthis
Schedule, atleast 85% ofthestaff
employed byasupplier ofservices
established inChile must beChilean,
except inthecaseofenterprises withfewer
than15employees.
GATS/SC/18
Page1CHILE (continued)GATS/SC/18
Page2
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
c) Theeffect ofcommercial presence on
competition inthesector andother sectors,
onconsumer protection, onthesmooth
functioning, integrity andstability ofthe
market, andonthenational interest;
d) Thecontribution ofthecommercial
presence toChile 'sintegration intoworld
markets.
Thisschedule applies onlytothefollowing
types ofcommercial presence forforeign
investors: corporations, open orclosed,
private-limited companies, andsubsidiaries
(which under Chilean legislation arethe
equivalent ofagencies ofcorporations).
4) Unbound, except fortransfers ofnatural
persons within aforeign enterprise
established inChile, inaccordance with(3)
commercial presence, ofsenior and
specialized personnel whohave been inthe
employ oftheorganization foraperiod of
atleast twoyears immediately preceding
thedateoftheir application foradmission
performing thesame typeofduties inthe
parent company oftheir country oforigin.
Inanycase, inaccordance with(3)
commercial presence, foreign natural
persons maynotmake upmore than15%
ofthetotalstaffemployed inChile.4) Unbound, except forthecategories of
natural persons listed under market access.CHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Thecategory ofsenior andspecialized
personnel does notinclude members ofthe
board ofdirectors ofacompany established
inChile.
Foralllegal purposes, senior and
specialized personnel must establish
domicile orresidence inChile.
Senior personnel arethose executives who
come under thedirect supervision ofthe
board ofdirectors oftheenterprise
established inChile andwho, inter alia:
- direct themanagement oftheorganization
oroneofitsdepartments orsubdivisions;
- supervise andcontrol thework ofother
supervisory, professional ormanagerial
employees;
- arepersonally authorized tohireandfire
orrecommend hiring andfiring orother
personnel actions.
Specialized personnel arethose highly
qualified persons whoareindispensable to
thesupply oftheservice because oftheir
professional knowledge or:
- possession ofqualifications foraparticular
typeofwork oractivity requiring
specialized technical expertise;
GATS/SC/18
Page3CHILE (continued)GATS/SC/18
Page4
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
- proprietary knowledge oftheorganization 's
services, research equipment, techniques or
management; and
- thenon-availability ofsuch specialized
personnel inChile.
Providers ofservices areadmitted
temporarily, foraperiod oftwoyears
which canbeextended fortwomore years.
Personnel admitted under these conditions
willbesubject totheprovisions ofthe
labour andsocial security legislation in
force.CHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
II. SECTOR-SPECIFIC COMMITMENTS
BUSINESS SERVICES
Professional services
International legal services1
Solely advice onmatters of
public international lawand
international commercial law.
(86190)Without prejudice towhat isstated in
Section I(horizontal measures), the
providers ofprofessional services included
inthepresent Schedule maybesubject to
assessment bythecompetent authorities in
connection withwhich theymust show that
theyfulfil therequirements designed to
ensure thattheyperform competently inthe
sector.
Iftheimplementation oftheadvice
involves appearing orfulfilling formal
procedures before aChilean court of
justice oradministrative body thenthe
appearance shall bemade ortheformal
procedure executed byaprofessional
recognized inChile.
1 Refers solely andexclusively tomatters relating topublic international law. Iftheimplementation oftheadvice involves appearing before aChilean court ofjustice
oradministrative body, thentheappearance must bemade byalawyer authorized topractise inChile whofulfils therequirement ofbeing aChilean national. The
same requirement must befulfilled whenever there isaneed forawritten instrument orformal procedure tobeexecuted byaprofessional recognized inChile. The
provision oftheadvice doesnotconfer theright tousethetitleofAttorney andtherefore doesnotinclude representation services incontentious ornon-contentious
matters.
GATS/SC/18
Page5CHILE (continued)GATS/SC/18
Page6
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Accounting andauditing1
Financial auditing
(86211)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
1 Financial statements must beendorsed byaprofessional legally authorized topractise inChile.CHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Accounting review
(86212)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Architectural services
Advisory andpre-design
architectural services
(86711)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Architectural design
(86712)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
GATS/SC/18
Page7CHILE (continued)GATS/SC/18
Page8
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
ENGINEERING SERVICES
Engineering design services
forindustrial processes and
production
(86725)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Engineering design services
relating tosanitary works
(86726)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Mechanical engineering design
services
(86726)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal sectionCHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Electrical engineering design
services
(86726)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Chemical andprocess
engineering design services
(86726)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Environmental engineering
design services
(86726)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
GATS/SC/18
Page9CHILE (continued)GATS/SC/18
Page10
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
MANAGEMENT
CONSULTING SERVICES
General management
consulting services
(86501)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Financial management
consulting services
(86502)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Marketing management
consulting services
(86503)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal sectionCHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Production management
consulting services
(86505)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Human resources management
consulting services
(86504)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
LEASING SERVICES
(WITHOUT OPERATOR)
Leasing orrental services
concerning private cars
(without operator)
(83101)1) Unbound
2) Unbound
3) Only legal persons established inChile as
open corporations
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
GATS/SC/18
Page11CHILE (continued)GATS/SC/18
Page12
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Leasing orrental services
concerning aircraft (without
operator)
(83104)1) Unbound
2) Unbound
3) Only legal persons established inChile as
open corporations
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Leasing orrental services
concerning agricultural
machinery andequipment
(without operator)
(83106)1) Unbound
2) Unbound
3) Only legal persons established inChile as
open corporations
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Leasing orrental services
concerning construction
machinery andequipment
(without operator)
(83107)1) Unbound
2) Unbound
3) Only legal persons established inChile as
open corporations
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal sectionCHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
COMMUNICATIONS
SERVICES
Telecommunications services Inthecaseofprivate services whose purpose is
tomeet thespecific telecommunications needs of
particular enterprises, entities orpersons by
prior agreement, thesupply ofthese services
does notgiveaccess totraffic from ortothe
users ofthepublic telecommunications networks.
Value-added services
On-line information retrieval
Electronic mail
Facsimile
Data processing1) None.
Subject toacorrespondence convention
withaninternational services
concessionaire
2) Unbound
3) Subject toobtaining apermit. Contract
withpublic service concessionaire.
Complementary service authorization from
theSub-department of
Telecommunications.
4) Unbound, except asindicated inthe
horizontal section.1) None
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section.
GATS/SC/18
Page13CHILE (continued)GATS/SC/18
Page14
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
PRIVATE LEASED
CIRCUITS
Telephone service
Data transmission
Electronic mail1) Unbound*
2) Unbound
3) Subject tothegranting oflimited service
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
FINANCIAL SERVICES 3) Inaddition tothehorizontal measures
which affect allsectors, asupplier of
financial services operating through a
commercial presence maybesubject to
evidence ofeconomic need. That is,he
must obtain prior authorization tostartup,
suspend orterminate operations from the
Banking andFinancial Institutions
Supervision Department, inthecaseof
banking services, orfrom theSecurities
andInsurance Supervision Department, in
thecaseofsecurities andinsurance
services.CHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Authorization tosupply financial services
through acommercial presence willbe
given insofarastheapplicant undertakes
toensure theproper functioning, integrity
andstability ofthemarket, fulfils the
requirements ofthelawandserves the
national interest.
TheChilean financial services sector is
partially compartmentalized, thatistosay
theinstitutions, domestic andforeign,
authorized tooperate asbanks maynot
encroach ontheinsurance andsecurities
business andviceversa. However, subject
toauthorization from theBanking and
Financial Institutions Supervision
Department, domestic andforeign banks
operating inChile maysetupsubsidiaries,
withtheir owncapital, tosupply other
financial services inaccordance withthe
relevant legislation.
a) Banking services Foreign banking institutions must be
companies legally constituted intheir
country oforigin, must acquire legal
personality inChile andmust putupthe
capital required byChilean law. Banking
institutions mayonlyoperate as:
(i)Open corporations; or
(ii)Subsidiaries.
GATS/SC/18
Page15CHILE (continued)GATS/SC/18
Page16
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Nonational orforeign natural orlegal
person mayacquire directly orthrough
third parties shares inabank which, alone
oradded totheshares such person already
possesses, represent more than10% ofthe
bank'scapital without having firstobtained
theauthorization oftheBanking and
Financial Institutions Supervision
Department. Inaddition, thepartners or
shareholders ofafinancial institution may
nottransfer apercentage ofrights orshares
inthecompany inexcess of10% without
having obtained authorization from the
Supervision Department.Banks notestablished asChilean companies
(subsidiaries) payaminimum income tax
equivalent to2.6perthousand oftheir total
deposits. Theaverage deposits are
determined bytheBanking andFinancial
Institutions Supervision Department onthe
basis oftheinformation inthestatement
which thebanks thataresubsidiaries are
required tosubmit.
Acceptance ofdeposits
(81115-81119)11) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
1 Includes onlycurrent bank accounts, sight acceptances, termacceptances insaving accounts, financial instruments withrepurchase undertaking, anddeposits forissue
ofbank guarantee vouchers.CHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Purchase ofpublicly-offered
securities
(8132)11) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Credit granting
(8113)21) None3
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) None
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
1 Includes onlypurchase ofbonds andpurchase ofletters ofcredit.
2 Includes onlycurrent loans, discounting oracquisition ofbillsofexchange andpromissory notes, loans andletters ofcredit, endorsable mortgage loans, purchase of
financial instruments withresale undertaking, credit forissue ofbank guarantee vouchers orother types offinancing, endorsement andguarantee ofthirdparty liabilities;
issue andnegotiations ofletters ofcredit forimports andexports, issue andconfirmation ofstand-by letters ofcredit.
3 Limited toonlyfreely-available credit, import andexport financing, confirmation ofletters ofcredit, andadvances andoverdrafts oncurrent accounts. These services
mayonlybeprovided tolocal banks withauthorization from theCentral Bank ofChile. Other services forgrant ofcredit unbound.
GATS/SC/18
Page17CHILE (continued)GATS/SC/18
Page18
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Issue ofcredit cards 1) None1
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) None
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Operation ofcredit cards 1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Provision andtransfer of
financial information and
processing offinancial data
(8131)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
1 Limited tocredit cards issued abroad thatcirculate inChile under anagreement withabank oroperator established inChile.CHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Advisory andother auxiliary
financial services
(8131)
(Includes onlyadministrative
services connected withthe
management ofthebanking
services included inthis
Schedule)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
InChile advisory andother auxiliary
financial services (8131) areconsidered to
becomplementary totheservices which the
established banks canprovide.
Consequently, domestic andforeign banks
must setupsubsidiaries withtheir own
capital inorder tobeabletoprovide these
services andmust have theappropriate
authorization from theBanking and
Financial Institutions Supervision
Department
Financial leasing
(81112)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
GATS/SC/18
Page19CHILE (continued)GATS/SC/18
Page20
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Only domestic andforeign banking enterprises
established inChile canprovide financial leasing
services. Inorder tosupply financial leasing
services theymust establish subsidiaries with
their ownseparate legal personality, their own
capital andexclusive lineofbusiness subject to
prior authorization from theBanking and
Financial Institutions Supervision Department.
These companies mayoffer leasing contracts for
goods acquired attheclient 'srequest, i.e.they
cannot acquire goods inorder tostock them and
offer them forleasing. These subsidiaries can
onlyoperate theservices expressly authorized by
theBanking andFinancial Institutions
Supervision Department. Financial leasing
services areregarded ascomplementary banking
services and,consequently, theBanking and
Financial Institutions Supervision Department is
empowered toextend orrestrict theoperation of
thefinancial leasing services which the
institutions mayoffer.
b) Insurance and
reinsurance servicesInsurance andreinsurance services canbe
provided onlybylimited insurance and
reinsurance companies established inChile for
theexclusive purpose ofdeveloping thislineof
business. Insurance andreinsurance
corporations canbelegally constituted onlyin
accordance withtheprovisions ofthelawof
corporations.CHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Contracts concluded inChile maybereinsured
byinsurers andreinsurers withinsurance and
reinsurance companies authorized tooperate in
Chile:
Only thefollowing areempowered toreinsure:
1.Insurers established inthecountry and
those corporations whose solepurpose
istooperate reinsurance inoneofthe
twogroups indicated below, subject to
inspection bytheSecurities and
Insurance Supervision Department;
and
2.Those foreign reinsurers whoare
enrolled intheRegister ofForeign
Reinsurers maintained bythe
Securities andInsurance Supervision
Department.
Inaddition, insurers andreinsurers mayalso
reinsure through intermediaries orbrokers
enrolled intheRegister ofReinsurance Brokers
maintained bytheSupervision Department.
GATS/SC/18
Page21CHILE (continued)GATS/SC/18
Page22
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
InChile, theinsurance business isdivided into
twogroups: thefirstgroup comprises
companies thatinsure goods andproperty against
theriskoflossordamage, while thesecond
comprises those thatprovide personal insurance
orguarantee, within orattheendofacertain
term, acapital sum, apaid-up policy oran
income fortheinsured orhisbeneficiaries.
Insurance companies maynotbeorganized to
cover bothcategories ofrisks.
Credit insurance companies, even though
classified inthefirstgroup, must beestablished
ascorporations withthesolepurpose ofcovering
thistypeofrisk, i.e.lossofordamage tothe
property oftheinsured asaresult ofthe
non-payment ofamoney debtorloan, being also
permitted tocover guaranty andfidelity risks.
TheChilean insurance Schedule does notinclude
insurance related tothesocial security system.
Insurance maybetaken outdirectly orthrough
insurance brokers who, toengage inthat
activity, must beenrolled intheRegister
maintained bytheSupervision Department and
must satisfy theprudential requirements ofthe
law.CHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Saleofdirect lifeinsurance
(does notinclude insurance
related tothesocial security
system) (81211)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Saleofdirect general
insurance (8129)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Saleofdirect general
insurance
Credit insurance
(81296)1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Policy reinsurance (81299) 1) Foreign reinsurance companies must be
enrolled intheRegister ofForeign
Reinsurers oftheSecurities andInsurance
Supervision Department andfulfil the
requirements laiddown bytheDepartment.1) Premiums ceded under thisheading are
subject toataxof6percent
GATS/SC/18
Page23CHILE (continued)GATS/SC/18
Page24
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
2) Unbound 2) Unbound
3) None 3) None
4) Unbound, except asindicated inthe
horizontal section4) Unbound, except asindicated inthe
horizontal section
Reinsurance brokers
(Reinsurance intermediation)
(8140)1) None
2) Unbound
3) Reinsurance brokers must beenrolled in
theRegister ofReinsurance Brokers ofthe
Securities andInsurance Supervision
Department andfulfil therequirements laid
down bytheDepartment.
4) Unbound, except asindicated inthe
horizontal section1) None
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal sectionCHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Insurance brokers (8140) 1) Unbound
2) Unbound
3) Must beenrolled intheRegister maintained
bytheSecurities andInsurance Supervision
Department andfulfil therequirements laid
down bytheDepartment. Only legal
persons legally constituted inChile forthis
specific purpose.
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
c) Securities services Publicly offered securities maybetraded by
natural orlegal persons engaged inbrokering
securities, either asmembers ofastock
exchange (stockbrokers) oroutside theexchange
(securities agents). However, onlystockbrokers
maytrade shares orderivatives (options) onthe
stock exchange. Other securities maybetraded
bystockbrokers orsecurities agents registered
withtheSecurities andInsurance Supervision
Department, orbybanks andfinance companies,
inaccordance withtheir legal powers.
Thepurpose offinancial portfolio management is
todiversify investments, onbehalf ofthird
parties, overarange ofinstruments.
GATS/SC/18
Page25CHILE (continued)GATS/SC/18
Page26
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
TheChilean Schedule inthesecurities sector
does notinclude asset fund management (mutual
funds, investment funds, foreign capital
investment funds, andpension funds).
Publicly offered securities riskrating services
areprovided byrating agencies enrolled inthe
Register ofRisk Rating Agencies maintained by
theSecurities andInsurance Supervision
Department. These must beconstituted asa
company ofpersons inaccordance withthe
legislation andareinspected andcontrolled by
theabove-mentioned Supervision Department.
Ontheother hand, theinspection ofrating
agencies withrespect totherating ofsecurities
issued bybanks andfinance companies isthe
responsibility oftheBanks andFinancial
Institutions Supervision Department.
Securities custody consists ofthephysical
safe-keeping ofcustomers 'stocks andshares and
maybeundertaken bysecurities intermediaries
(complementary activity) orbyindividuals. The
Chilean Schedule inthesecurities sector does
notinclude theservices offered byfirms which
simultaneously undertake thecustody, clearance
andsettlement ofsecurities (centralized
securities depositories).CHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Financial advisory services involve giving
financial advice onfinancing alternatives,
investment appraisal, investment possibilities,
debtrescheduling strategies, etc.
Intermediation ofpublicly
offered securities, except
shares (81321)11) Unbound
2) Unbound
3) None2
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Intermediation oflimited
company shares (81321)1) Unbound
2) Unbound
3) None3
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
1 Does notinclude intermediation ofshares.
2 These intermediaries must have astheir solepurpose thebuying andselling ofsecurities, although theymayalsocarry outcomplementary activities asauthorized by
theSupervision Department.
3 These intermediaries must have astheirsolepurpose thebuying andselling ofsecurities, although theymayalsocarry outcomplementary activities asauthorized by
theSupervision Department. Inaddition, tobeabletooperate theymust acquire ashare inthestock exchange inwhich theyperform their broking functions, and,
moreover, must beaccepted asmembers ofthatexchange.
GATS/SC/18
Page27CHILE (continued)GATS/SC/18
Page28
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Financial portfolio
management (81323)
Thepurpose offinancial
portfolio management isto
diversify investments, on
behalf ofthird parties overa
range ofinstruments. (Itdoes
notinclude management of
mutual funds, foreign capital
investment funds, investment
funds orpension funds).1) Unbound
2) Unbound
3) None1
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
1 Those whooffer financial portfolio management services intheircapacity assecurities intermediaries mustfulfil therequirements appropriate totheirprincipal function
(whether itbethatofstockbroker orthatofsecurities agent). Otherwise, inthecaseofother legal persons, theymayengage insuch activity iftheyholdabroad
mandate tooperate fortheaccount ofthird parties.CHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Securities riskrating (81339)11) Unbound
2) Unbound
3) Risk rating agencies must have astheir sole
purpose therating ofpublicly offered
securities, although theymayalsocarry out
complementary activities asauthorized by
theSupervision Department. Moreover,
theymust beestablished asacompany of
persons andbeenrolled intheRegister of
Risk Rating Agencies oftheSecurities and
Insurance Supervision Department. The
specific requirements tobefulfilled include
thefollowing:1) Unbound
2) Unbound
3) None
-Notlessthan60percentofthe
company 'scapital must beheldbythe
principal partners;
-Therating board must consist of
professionals withauniversity degree
orequivalent higher education andan
unblemished business record, the
majority ofwhom must have hadat
least three years'work experience in
theeconomic andfinancial field.
1 Relates solely torating orgiving anopinion onpublicly offered securities.
GATS/SC/18
Page29CHILE (continued)GATS/SC/18
Page30
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
4) Unbound, except asindicated inthe
horizontal section4) Unbound, except asindicated inthe
horizontal section
Securities custody (81319)
Does notinclude theservices
offered bysuppliers who
combine custody with
securities clearance and
settlement (custodial accounts).1) Unbound
2) Unbound
3) None1
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
Financial advisory services
(81332)
Thefinancial advice refers
onlytothesecurities services
included inthisSchedule1) Unbound
2) Unbound
3) Only securities intermediaries, bank
subsidiaries andother natural andlegal
persons1
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
1 Those whooffer securities custody services intheir capacity assecurities intermediaries must fulfil therequirements appropriate totheir principal function (whether
itbethatofstockbroker orthatofsecurities agent).CHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Warrants
Corresponds tomerchandise
warehousing services
accompanied bytheissue ofa
deposit andachattel mortgage
receipt1) Unbound*
2) Unbound
3) Only natural orlegal persons legally
established inChile whohave theprovision
ofwarrant services astheir solebusiness
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
TOURISM AND TRAVEL
RELATED SERVICESPurchase offoreign exchange byChilean
nationals wishing toprocure tourist services
under mode ofsupply (2)issubject toforeign
exchange control measures laiddown bythe
Central Bank ofChile inaccordance withits
statutory powers
Hotels andrestaurants
Hotel lodging
(64110)1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section
GATS/SC/18
Page31CHILE (continued)GATS/SC/18
Page32
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Motel lodging
(64120)1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section
Apartment-hotels
(64193)1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section
Camping services
(64195)1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal sectionCHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Fullrestaurant services
(64210)1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section
Meal serving service inself-
service facilities
(64220)1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section
Caterer services
(64230)1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section
GATS/SC/18
Page33CHILE (continued)GATS/SC/18
Page34
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Bars without entertainment
(64310)1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section
Bars withentertainment
(64320)1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section
Travel agency andgroup
travel services
Travel agencies andtour
operators
(74710)1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal sectionCHILE (continued)
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
Tourist guide services
(74720)1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) None
3) None
4) Unbound, except asindicated inthe
horizontal section
AUXILIARY AIR
TRANSPORT SERVICES
1. Opening ofoffices 1) Unbound*
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
2. Issue andsaleofair-
transport fares and
tickets1) Unbound*
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
GATS/SC/18
Page35CHILE (continued)GATS/SC/18
Page36
Modes ofsupply: 1) Cross-border supply 2) Consumption abroad 3) Commercial presence 4) Presence ofnatural persons
Sector orsubsector Limitations onmarket access Limitations onnational treatment Additional commitments
3. Computer reservation
systems1) None
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) None
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
4. Ground operation of
support equipment1) Unbound*
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound*
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section
5. Aircraft maintenance 1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section1) Unbound
2) Unbound
3) None
4) Unbound, except asindicated inthe
horizontal section