Hire in Chile
Situated along the western seaboard of South America, Chile is a rich culture, diverse character, and unending opportunities. Chile has shaped its economy around key activities like copper, iron, mining, and sea resources. Due to its historical ties with Spain, Chile’s culture has evolved from Spanish roots.
Santiago is the capital of Chile. With an array of restaurants, bars, and shopping malls, it is teeming with life. Chile is a land of extremities that is evident through its climate, history, and its citizens. Some opportunities cannot be overlooked if you are an investor, recruiter, or employee.
Overview of the Chile
Chile has a population growth of 0.68%; it has a net migration rate of 0.33 migrant(s)/1000 population. Key ethnic groups found in Chile are Mapuche, Aymara, Antai, Colla, etc.
Spanish is the official language, with English being the second most spoken language. Chile has a literacy rate of 97.5%. A high literacy rate continues to attract investors to the education sector as new businesses and startups are taking advantage of the advancements in this sector.
Population: over 18 million
GDP: 317.1 billion USD
Chile has relied heavily on its agricultural developments due to its diverse climatic conditions, rich, dense forests, and nutritious soil. There has been a paradigm shift from important industries like footwear, textiles, and brewing because of natural disasters that tarnished its economic growth.
However, Chile has emerged from its economic slump over the years with key industries like Food, Energy, Mining, etc.
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A Brief Glimpse Of Various Industries
Chile owes a lot of credit to its diverse climate for the success of its food industry. Latest advancements in technology have helped Chile use its natural elements to provide healthy, quality products at competitive prices.
Chile is currently one of the 15 largest exporters in the world with an array of products. By investing in this sector, you are guaranteed to reach 86.3% of the global GDP. Chile is a key exporter of blueberries, grapes, salmon, prunes, wine, etc.
There are many opportunities to invest in this sector, and Chile is a diverse and mature market that promises growth and success. Bioproducts and nutraceuticals are just a few of the many elements of this sector that are generating value in this industry.
Top Skills Required In The Food Industry
With over 4000 hours of sunshine per year, Chile has confidently relied on its solar energy production. Its monumental Andes Mountain range contains extensive amounts of geothermal energy and deep biomass fuel sources from its dense forests.
Chile is at the top for renewable energy investment and solar generation with cutting-edge technology. It has decided to go completely carbon neutral by 2050, which has opened opportunities for various investments.
There are numerous opportunities in this sector as Chile plans to manufacture stationary batteries, replace coal-fired power stations, and focus on local and global companies.
Top Skills Required In The Energy Industry
- Personal Skills
- People Skills
- Applied Knowledge
- Business Fundamentals
Chile has 22% of the world’s copper reserves, 5% of the silver reserves, 7% of gold, and 48% of the world’s lithium reserves, making it a mining paradise. Chile guarantees to meet world-class standards with its latest technology and highly skilled mining sector.
Chile has 226,000 highly skilled, directly employed workers dedicated to the mining sector. It has 575,000 indirectly employed specialized workers, providing opportunities to various companies to reap the benefits of the mining sector.
With over 30 projects in the works, there are opportunities for joint ventures and investments in this sector.
Top Skills Required In The Mining Industry
- Technology Skills
- Workplace Knowledge
- Personal Skills
- Safety Training
- Mine Planning
- Capital Projects
Chile has made several advancements in the tech industry, with programs like “Visa-Tech – Talent Attraction Program,” which aims to invest in specialized professionals, vital for this sector. With over 60 multinational companies choosing Chile for their exporting services, Chile has quickly become a platform for various economic opportunities.
With over 20 data centers in key areas like Valparaiso, Temuco, and Santiago, Chile is booming with global service companies. Chile has projected steady growth in its global services exports with around USD 4 billion in 2023 and aims to increase that to USD 5 billion.
With incentives for business development in this upcoming sector, Chile has provided various key opportunities for investors and businesses. Double taxation agreements help companies to take advantage of lower taxes.
Top Skills Required For Global Services
- Project Management
- Human Resources
- Financial Skills
- Business Skills
Cost of Living
The cost of living for a single person is roughly estimated at 496,078 CLP, which is Chilean Peso (USD 662.59), excluding rent.
The average budget for large cities is as follows:
600,000-730,000 CLP/Month (800-980 USD/Month) for Santiago
400,000-505,000 CLP/Month (500-670 USD/Month) for Valparaiso
400,000-580,000 CLP/Month (500-780 USD/Month) for Concepcion
Here is a detailed list of the cost of living in Chile.
Chile is well-known for its production of copper. It produces 28% of the world’s total copper, making it an invaluable source for the global economy. Chile also has international trade agreements with 64 other countries, which provides opportunities for various groups of individuals to invest in Chile.
Chile has often been termed the most competitive country; the sheer resilience to be the best has helped boost its economy.
The Food Industry, Energy, Mining, and Global Services are a few of the key industries of Chile.
Let’s look at each of these industries for its various opportunities.
Top Cities Of Chile
Santiago is the capital of Chile with over 6 million residents; it is the oldest city of Chile with the highest population. It is a commercial and economic center of the country with immense opportunities in global services, mining, and finance. It has a lot of cultural elements that highlight the characters of Chile as a country. Museums, stadiums, cathedrals, etc., are a few of the indicators of its vibrant culture.
Valparaiso is well-known as the legislative capital of Chile; it is the second-largest city in Chile with a population of over 970,000. It is where the Chilean National Congress is located, and it also has one of the Pacific Ocean’s most important seaports in South America. It is also known for its importance in boosting tourism and being the commercial center because of its shipping and freight industry.
Concepcion is the third-largest city in Chile, with a population of more than 940,000. Located near the Biobio River, it serves as an access point for the agricultural, forest, and mining industries, making it a commercial reference point for various businesses. The majority of the population is employed in the trade and industry sector, which gives investors the opportunities to exploit upcoming startups.
With industries and job opportunities developing in various sectors, Chile offers attractive job prospects and salary packages. Know More.
Salary Structure For Various Jobs In Chile
In Chile, employment laws apply to both employer and employee; the three main categories of contractual terms are indefinite term, fixed-term, and project-based term. Employment relationships can exist even without written contracts.
Minimum Terms and Conditions of an Employment Contract:
- Date and place of execution
- Employee credentials
- Starting date
- Description of the services to be performed
- Time of payment
- Working hours
- Duration of contract
Main Sources Of Employment Law in Chile
- The Constitution
- Labour and Employment Code
- Law 17,322 on Social Security Payment
- Law 16,744 on Occupational Accidents and Diseases
- Decree-Law 3,500 and its Executive Regulation.
- Law 20,609 on Discrimination Prohibition
- Law 19,799 on VIH treatment
- Executive Law Regulation from 1967
- Law 19,728 on Unemployment Insurance
- Supreme Decree 594 on Health and Environmental Basic Workplace Conditions
- Maternity Leave - 30 weeks paid leave, 6 weeks before birth and 24 weeks after birth, covered by health insurance
- Paternity Leave - 5 days of paid leave, after the 7th week, with an option for the mother to transfer some of her leave to the father.
- Bereavement Leave - 3 days of paid leave
Chile Remote Hiring Trends 2024
Top 5 Hiring Companies in Chile
The top five companies in Chile by market cap and their world rank as of January of 2024are:
- Sociedad Quimica y Minera De Chile (1,411)
- Enel Americas (1,602)
- Empresas Copec (1,950)
- Banco de Chile (2,021)
- Banco Santander-Chile (2,136)
Employee Considerations in Chile
Globally, the competition for remote jobs is fierce, and companies must be prepared to offer remote Chilean employees a higher average salary than in other Latin American countries. The cost of living in Chile is the fourth most expensive in Latin America, which means higher salaries are necessary for most positions, especially those requiring specialized tech skills and knowledge.
As a result of the worldwide competition for remote jobs, if your company plans to hire employees in Chile, you should be prepared to offer robust benefits packages, including paid time off, promotion opportunities, work equipment provided by the company, stock options, and more. Competitive benefits packages are a must to attract and retain top talent in Chile.
How Can Skuad Help You With Hiring In Chile?
Hiring is not easy, especially when it comes to a foreign country. There are many things that need to be taken care of and studied before proceeding. It is advisable to get the help of an Employer of Record who will guide you step-by-step and get you the best possible results. As a reputable unified employment platform, Skuad can help to get you the best talent in Chile. Connect With Skuad Experts today!