1. EXPENSES REPORT:
KEY ISSUES FOR FINANCIAL APPROVAL

2. WHAT DO YOU NEED TO KNOW?
• Chilean Government Funds.

Taxes from all Chileans
• Total Budget: CLP $22.222.222.
- CLP $20.000.000 Start-Up Chile
- CLP $2.222.222 Beneficiary

3. TWO WAYS TO RECEIVE THE MONEY
• LUMP SUM AGREEMENT.
We pay
you,
you spend,
you submit
docs.
• REIMBURSEMENT PROCESS.
You spend,
you submit
docs,
we pay you
back.

4. LUMP SUM AGREEMENT
- 6 Technical reviews
- 3 Financial reviews
- *Financial review might not necessarily be
simultaneous with the technical review
Expenses Report
- $20.000.000 in three parts

5. LUMPSUM AGREEMENT: TIMELINE
Arrival
Notification
Contract
signature
Payment
for
$CLP 10MM
Review Nº 1
100% Approval for
$CLP 11.111.111
50% RVA
Review Nº 2
100% Approval for
$CLP 5.555.555
75% RVA
Review Nº 3*
Final Review
Approval for $CLP 5.555.555
or reimbursement of the
remaining money
100% RVA
: Financial Review
: Technical Follow Up
Second
payment:
$CLP 5MM
Third
payment:
$CLP 5MM
*Project closure

6. • REIMBURSEMENT PROCESS
- $20.000.000 in up to six parts
- 6 Technical reviews
- 6 Financial reviews
- *Financial review could be simultaneous with the technical follow
up. The meetings must have at least a 4 week gap between them.

7. MAIN EXPENSE ACCOUNTS
Investments
Operations
Human Resources
Acquisitions
Housing costs
Patents and Licenses
Office
Beneficiary/
Team Leader
Travels
Team Members*
Product
Experts**
Legal Procedures
Interns
Contractors
*Only the ones that are specified in the application form and for that they are the ones in the contract.
**Only those who are physically working in Chile with the founding team. If they are not in Chile, they
must be considered as outsourcing.

8. DOCUMENTS REQUIRED FOR:
HUMAN RESOURCES
Beneficiary
Team Members
• The initiation of activities must be in first
category
• Formulario 29 of the SII
• Salary certificate for all the team members in
Chile (must be original and signed)
• Chilean
companies
must
file:
signed
“liquidación de sueldo”, payment of the salary
and for the previsional costs.
Experts
(Chilean contractors
or in Chile with a
Chilean working visa)
• Must be a resident in Chile
• Copy of the ID
• Boleta de honorarios
• Contract:
• Description of the work
• Terms of the contract
• Payment method and the salary
• Date of payment.

9. ITEMS WE DON’T PAY IN “LIQUIDACIONES DE
SUELDO”
•
•
•
•
•
•
•
•
Seguro de cesantía (Unemployment Insurance)
SIS (Seguro de Invalidez y sobrevivencia)
Accidentes del trabajo (labor accidents)
Adicionales de salud (> del 7%) (Additional health
insurance)
Movilización (Transportation)
Bonos (Bonuses)
Colación (Lunch)
APV

10. OPERATIONS: HOUSING COSTS
• What do I need?
Notarized rent contract (USD 10 – 20 aprox)
Parties involved
Address
Terms of the contract
Payment method (cash, deposit, etc) and the date
the payment will take place
Description of the payment for common expenses
Documentation for utilities in general: original receipt and payment.
Be aware!!!
Top of budget $100.000 per week for 1 member
Top of budget $150.000 per week for 2 or more members
Limit of days: 168 (terms of the project) . NOT 6 MONTHS!

11. OPERATIONS: HOUSING COSTS
In case of:
• If the lease is for a furnished property
 Bring the legal document in Chile (the rent contract + boleta o
factura). (Why? Because there is VAT involved in this transaction.)
• If you book the services via a website or foreign company for
the apartment in Chile **
 You must ask for the legal document in Chile if the apartment is
furnished (boleta or factura).
 Rent contract
**
Invoices
from
Airbnb
or
similar
services
are
not
valid
as
rent
receipts.
There
must
always
be
a
rent
contract.

12. OPERATIONS: OUTSOURCING
Chilean without a contract:
Foreigner:
Carnet de identidad (ID)
Invoices must be the legal ones used
in the country where they were issued.
Boleta de honorarios
Payment method (detailed in the invoice)
Proof of payment
Submit documents certifying the status of
the person who creates the document
in his/her tax system
Companies:
Factura or Invoice
Payment method
Description of the service
Terms of the service
Chilean companies:
If the payment was made in cash
you must ask for:
Copy of the factura called “cedible”
Stamp (detailing that the factura is
already paid)

13. *PAYMENT METHODS
Bank Transfer
 Transfer details (swift)
 Bank statement balance
 Relationship between
account numbers and the
parties involved
Check
 Copy/picture of the check
 Number of the check
 Bank statement (with the
check cash out)
 Balance account after the
charge
PayPal (Credit card)
Cash
 Sworn statement (declaración jurada)
 Withdrawal from the bank account
 Bank statement outstanding balance
PayPal Funds
 Transaction details (doc. PayPal)
 Must show the payment method
 PayPal balance
 Charge in the PayPal Account
 Owner of the PayPal account
 Transaction details
 Number of the credit card used
 Credit card statement
 Payment in the credit card statement

14. ACQUISITIONS * OUTSOURCING
INVESTMENTS * OUTSOURCING
> CLP $3.5
million
pesos
Remember:
• Per
provider.
• Per
item
• Per
service.
3 QUOTES
PREVIOUS
APPROVAL
FROM YOUR
AE
 The
AE
must
make
a
technical
approval

15. OFFICE
•
•
•
•
Internet
Phone
Rent Office (virtual or physical)
Skype
TRAVELS
Flight to Chile (round trip):
Boarding pass
Mail of the Airlines
Should include: Payment Method
Name of the passenger
Date of the flights
Itinerary
Total amount
Bus/train tickets:
Ticket:
Payment Method
Itinerary

16. INVESTMENTS
 Acquisitions: computer, phones, tablets, etc.
 Patents and licenses: Domains*, Software, etc.
*The domains have a 1 year limit for their approval.

17. REMEMBER!
- Always present statements where it is easy to see who the owner
of the account is.
- Only personal accounts. No company accounts**.
- We don’t cover expenses for foreign companies, just for the ones
Incorporated in Chile and already approved**.
- All documents must be original documents. They stay in SUP, so
for contracts make sure you make more than 2 copies.
- You can’t provide services or receive services from projects
currently in the program, or by companies owned by people in the
program.
**As an exception, if some Chilean company qualifies, it can present
expenses on behalf of the company already approved by Corfo’s legal
department.

18. INVOICE INFORMATION:
 Provider
informa@on
 Client
informa@on
 Number
of
the
invoice
 Date
 Descrip@on
of
the
service
 Total
amount
 Payment
method

19. INVESTMENT
Examples
of
invoices:
Acquisitions quisitions

20. Examples:
Patent and Licenses

21. Examples:
Office:

22. Examples:
Outsourcing:

23. Examples:

24. THANKS!