The government is currently working on a project to reform secured transactions law in Chile. This mainly focuses on allowing movable assets to be the subject of security interests to improve the access to credit of smaller firms. Currently, although some limited movable assets may be the subject of pledges, only immovable assets may be used as subject matter of non-possessory security interest. The draft law has not yet been finalised.
The Government’s Brief on the Project (in Spanish): http://www.consejoconsultivoemt.cl/wp-content/uploads/2015/04/Presentaci%C3%B3n-Proyecto-de-garant%C3%ADas.pdf
Last Checked October 2020
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