Foreign investors who want to undertake a given project on lands owned by the Chilean state must fulfill certain requirements, but they do not vary too much compared to the obligations of local investors: they must form a partnership in Chile and then participate in the public tenders that the Ministry of National Assets holds every year.
The calls are promoted in the Chilean communications media and on the ministry’s website.
Adjudication only depends on the price that investors offer and the project’s relevance to the predetermined use for the property according to the characteristics of the land. Direct proposals from companies or institutions that have already identified the lands that interest them for the development of previously determined projects are also evaluated.
The ministry’s role
Lastly, the tender processes consider diverse adjudication modalities: sale, concession for use, rent, or a combination of sale and concession.
The Ministry of National Assets goes beyond offering the lands while engaging in this work. It is also an institution that facilitates the entire process, creating the conditions that allow the projects to be materialized.
This implies providing assistance in the ties that the private sector must forge with other public agents and in negotiating the contractual conditions to ensure that investors are successful, while simultaneously protecting the interests of the state.
The legal framework that regulates this system is Legal Decree 1,939. (Spanish)
This post is also available in Spanish