Chile · CMF · Banco Central · SP · UAF

Chile financial licences and regulator dossier

The Comision para el Mercado Financiero supervises banks, financial cooperatives, card issuers and operators, securities markets, funds, insurers and the technology-based services under the Fintec Law. Banco Central de Chile sets monetary, foreign-exchange and payment-system rules. The Superintendencia de Pensiones controls pension administrators and funds, while UAF leads the statutory AML reporting perimeter.

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Route facts

Jurisdiction facts

Integrated conduct regulator

CMF supervises banking, insurance, securities, funds and most Fintec permissions

Fintec gateway

RPSF registration plus service authorisation under Law 21.521 and NCG 502

Seven Fintec services

Crowdfunding, ATS, custody, credit advice, investment advice, routing and intermediation

Payment layer

CMF and Central Bank rules cover card issuers, operators and payment infrastructure

Virtual assets

No universal VASP licence; financial-instrument and AML treatment follows the actual activity

Capital basis

Sector, service, volume and custody determine capital, guarantees, solvency and safeguarding

Territorial reach

Chilean authorisation creates no automatic operating right in another country

Review date

Regulatory position reviewed as of 11 July 2026

Regulatory perimeter

Registration and authorisation are separate Fintec steps

Law 21.521 created a dedicated perimeter for crowdfunding platforms, alternative trading systems, custody of financial instruments, credit advice, investment advice, order routing and intermediation of financial instruments. CMF maintains the Registro de Prestadores de Servicios Financieros. Except for statutory exclusions, entry in the RPSF does not itself permit the service: the provider also needs CMF service authorisation under NCG 502. Public copy should preserve both statuses and the exact services authorised.

The conventional perimeter remains fully relevant. Banks, savings and credit cooperatives, non-bank card issuers and operators, broker-dealers, fund managers, insurers and market infrastructure use their own statutes and CMF rules. Banco Central rules apply to payment systems, cards, foreign exchange and monetary questions. A cryptoasset can enter the Fintec or securities perimeter if it is a financial instrument, but Chile has no single general VASP licence that replaces banking, payments, securities or AML obligations.

Permission map

Chile licence and registration families

Permission family	Regulator and instrument	Activities and exclusions	Eligibility, capital and control
Permission family Banking and deposit taking	Regulator and instrument Authorisation to establish and operate a bank under the General Banking Law, with CMF supervision and Central Bank rules	Activities and exclusions Accept deposits, lend and conduct approved banking and payment services; insurance, fund and Fintec activities can require separate status	Eligibility, capital and control Chilean bank or permitted foreign branch, suitable controllers and management, local operations, viable plan, governance and statutory minimum and risk-based capital and liquidity
Permission family Savings and credit cooperatives	Regulator and instrument CMF supervision or other cooperative authority according to size and statutory threshold under the General Law of Cooperatives	Activities and exclusions Member-focused savings and credit within the cooperative status; no unrestricted commercial-bank or securities authority	Eligibility, capital and control Eligible local cooperative, governance and management, member protections, AML/CFT, audit, capital and prudential requirements appropriate to its supervisory category
Permission family Payment cards and electronic-money-like products	Regulator and instrument CMF registration or authorisation for non-bank card issuer or payment-card operator under Central Bank and CMF rules	Activities and exclusions Issue or operate approved cards and payment products; customer balances are not bank deposits and the status does not add lending or securities dealing	Eligibility, capital and control Chilean entity, controllers and management reviewed, business plan, operational and cyber controls, safeguarding or settlement, capital and liquidity based on activity and volume
Permission family Payment systems, acquiring, remittance and foreign exchange	Regulator and instrument Central Bank and CMF authorisation, recognition or regulation according to system, operator, acquirer, transfer or FX role	Activities and exclusions Operate only the approved payment or FX function; technical processing without possession of funds can have a different perimeter	Eligibility, capital and control Local eligibility, ownership and management, system governance, settlement, resilience, safeguarding, AML/CFT and financial resources under the applicable rule
Permission family Crowdfunding platform	Regulator and instrument CMF RPSF registration and service authorisation under Fintec Law 21.521 and NCG 502	Activities and exclusions Operate a platform connecting investment or financing participants within authorised instruments and limits; no custody or advice unless separately authorised	Eligibility, capital and control Eligible person, owners and responsible management, governance, risks, disclosures, technology, conflicts and capital or guarantee determined by service and scale
Permission family Alternative trading system and order routing	Regulator and instrument CMF RPSF registration and authorisation for ATS or order-routing service under the Fintec Law	Activities and exclusions Operate the approved system or route orders in financial instruments; it is not a stock exchange or broker permission beyond the authorised service	Eligibility, capital and control Local legal presence, suitable controllers and officers, access and market rules, surveillance, cyber, resilience and activity-based capital or guarantee
Permission family Financial-instrument custody	Regulator and instrument CMF RPSF registration and custody-service authorisation under the Fintec Law, or parent custody authority for an already regulated institution	Activities and exclusions Safeguard authorised financial instruments and client positions; no dealing, payment or deposit authority unless separately granted	Eligibility, capital and control Eligible entity, secure custody and reconciliation, insolvency separation, governance, cyber, key management, professional resources and capital or guarantee under NCG 502
Permission family Credit and investment advice	Regulator and instrument CMF RPSF registration and authorisation for credit advice or investment advice, subject to the legal-person and natural-person routes in NCG 502	Activities and exclusions Provide the approved advice; no client-money holding, execution, discretionary management or lending by implication	Eligibility, capital and control Competence and suitability, conflicts and conduct policies, disclosures, records, cyber and professional resources; corporate governance and guarantees where applicable
Permission family Intermediation of financial instruments	Regulator and instrument CMF RPSF registration and service authorisation under the Fintec Law, or broker-dealer status under securities law for the conventional category	Activities and exclusions Intermediate only the authorised instruments and client types; custody, advice, exchange operation and banking remain separate	Eligibility, capital and control Eligible Chilean provider, responsible officers, conduct and best-execution controls, client assets, technology and activity- or volume-based capital and guarantees
Permission family Securities brokers, exchanges and infrastructure	Regulator and instrument CMF registration or authorisation for stockbroker, securities agent, exchange, depository, clearing system and related market participant	Activities and exclusions Deal, execute, underwrite or operate the approved infrastructure within securities law; Fintec status does not replace the conventional category when triggered	Eligibility, capital and control Chilean entity, suitable owners and executives, governance, conduct, client assets, surveillance, settlement and category-specific capital and liquidity
Permission family Funds, managers, administrators and custody	Regulator and instrument CMF authorisation or registration under the Single Funds Law for general fund manager, portfolio manager, public fund and regulated service providers	Activities and exclusions Establish, manage, administer, distribute or safeguard the approved fund or portfolio; no deposit taking or unrelated brokerage by implication	Eligibility, capital and control Eligible local manager, approved governance, valuation, custody, audit, disclosure, conflicts and capital or guarantee under the fund and manager rules
Permission family Insurance, reinsurance and intermediaries	Regulator and instrument CMF authorisation or registration under insurance legislation for insurer, reinsurer, broker, agent, adjuster or other participant	Activities and exclusions Underwrite or intermediate approved lines and products; intermediary status does not permit assumption of insurance risk	Eligibility, capital and control Chilean insurer or permitted foreign route, suitable controllers and executives, actuarial and risk functions, technical reserves, risk-based capital, reinsurance and audit
Permission family Pension administrators and retirement products	Regulator and instrument Superintendencia de Pensiones authorisation and supervision for AFP and regulated pension funds; CMF controls insurers and investment providers used by the system	Activities and exclusions Administer statutory pension accounts and funds within the investment regime; no general banking or securities-dealing permission	Eligibility, capital and control Eligible Chilean company, suitable controllers and management, governance, operational systems, capital, reserves, custody, investment and beneficiary controls
Permission family Consumer, mortgage, leasing and factoring credit	Regulator and instrument Banks, cooperatives, card issuers and regulated financial providers use their parent status; own-funds lenders remain subject to consumer, interest and AML law without a universal lender licence	Activities and exclusions Lend, lease or factor within lawful corporate capacity and any regulated category; no deposits, securities or payment issuance by implication	Eligibility, capital and control Correct entity and funding model, owners and management, contracts, rate and fee compliance, credit and complaints systems, AML duties and prudential resources where applicable
Permission family Cryptoassets and AML-only status	Regulator and instrument No universal Chile VASP licence; CMF Fintec or securities authorisation applies when the asset or service is a financial instrument, while UAF reporting duties follow AML law	Activities and exclusions Exchange, custody or advice only where the legal instrument and service fit an authorised route; AML reporting status grants no prudential or conduct permission	Eligibility, capital and control Perimeter analysis, eligible applicant where regulated, controllers and officers, AML/CFT, cyber, custody, disclosures and capital or guarantee under the relevant parent service
Permission family Trust, corporate services and gambling	Regulator and instrument No general TCSP financial licence; regulated administration uses its banking, fund, securities or professional basis, while casinos use Superintendencia de Casinos de Juego permission	Activities and exclusions Company formation or administration grants no financial power; a casino licence covers only approved gaming activity	Eligibility, capital and control Apply corporate and professional rules plus AML duties, obtain the parent permission for regulated assets, or satisfy separate gaming ownership, technical and financial requirements

Entry file

Eligibility, governance, capital and guarantees

CMF applicants identify the legal person, owners, controllers, executives and responsible officers and demonstrate suitability, competence and financial soundness. The operating file covers governance, conflicts, risk, AML/CFT, sanctions, consumer protection, cybersecurity, outsourcing, audit, continuity and records. Fintec applicants add each service, instrument, customer journey, technology, custody or routing architecture and how the provider meets NCG 502 proportional requirements. Registration and service authorisation should be tracked separately.

Capital is not a single Chile Fintec figure. Banks and insurers use prudential calculations; card issuers and operators use activity and volume rules; Fintec providers use service, scale, custody and client-risk bands for capital or guarantees; brokers, infrastructure and fund managers use their own requirements; AFP use pension-specific resources. Client payment funds, securities, fund assets, pension assets and insurance reserves require distinct protection. The current CMF, Central Bank or pension rule and fee schedule controls the final file.

Application process

From perimeter to activation

1. Classify every product and instrument
Map deposits, payments, credit, securities, Fintec services, funds, insurance, pensions and cryptoasset functions to each authority.
2. Confirm applicant eligibility
Select the prescribed Chilean entity or individual route and document controllers, source of funds, management, competence and local operations.
3. Build the service-specific file
Prepare plan, capital or guarantee method, governance, AML/CFT, cyber, safeguarding, conduct, audit, recovery, outsourcing and wind-down evidence.
4. Complete registration and authorisation
Submit current CMF or other authority forms, pay official charges and do not treat RPSF entry as service authorisation.
5. Activate the approved scope
Fund resources, appoint accepted people, implement reporting and controls, and launch only after every final status is effective.

Continuing supervision

Reporting, control changes and Fintec implementation

Ongoing duties can include prudential resources, guarantees, audited statements, regulatory returns, AML/CFT and sanctions reporting, consumer disclosures, complaints, conduct, cybersecurity, incident notice, client-asset reconciliation and outsourcing oversight. An RPSF provider must keep its information and authorised services current. New instruments, custody, customer groups or business functions require a perimeter review and any variation before launch.

Direct or indirect acquisitions, qualifying shareholders, controllers, directors and key executives follow the competent authority's approval or notice process. The entity keeps its registration or authorisation after a share acquisition and keeps its regulatory history and liabilities. Buyers should reconcile the RPSF and other registers, service resolutions, conditions, capital, guarantees, client assets, audit and remediation. NCG 502 has been amended, including in 2026, so the live consolidated rule must be checked at application and completion.

Verify it yourself

Primary sources

Comision para el Mercado Financiero
CMF registers, authorisation pages, NCG 502 and sector rules govern banks, Fintec providers, securities, funds and insurance.
Banco Central de Chile
Central Bank regulations govern payment cards and systems, foreign exchange and monetary questions within its statutory mandate.
Superintendencia de Pensiones
Official pension legislation, registers and instructions govern AFP, funds, controllers and continuing obligations.
UAF and official legislation
UAF material identifies AML reporting persons; enacted laws and the official gazette control where summaries differ.

FAQ

Chile licensing questions

01 Does RPSF registration allow a Fintec service?

Generally no. The provider also needs CMF service authorisation under Law 21.521 and NCG 502 unless a statutory exclusion applies.

02 Does Chile have a general VASP licence?

No universal route was identified. Financial-instrument services can enter the CMF Fintec or securities perimeter, while AML reporting status is not operating permission.

03 Is a card issuer a bank?

No. A registered or authorised non-bank issuer may provide only its approved card or payment activity and cannot take ordinary bank deposits.

04 What capital is required?

It depends on the sector, service, volume, custody and risk. Use the current CMF, Central Bank or pension calculation for the applicant.

05 What happens when a regulated firm is acquired?

The firm retains its statuses, while incoming controllers and executives complete the applicable processes and inherit the full supervisory record.

Reviewed by the SKY7 advisory team. Last reviewed: 11 July 2026. Regulatory statements are made as of July 2026. Law 21.521, NCG 502 and the open-finance implementation remain moving areas. This page is general information only, not legal, regulatory, tax, investment or financial advice. Verify current registers, services, capital, guarantees, fees and controller processes with each competent authority. No authorisation or regulator timetable is promised.

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