New regulations on SAGRILAFT and PTEE for foreign non-profit organizations and chambers of commerce – Superintendency of Companies

Until the end of 2024, all FOREIGN NON-PROFIT ORGANIZATIONS (hereinafter “FOREIGN ENTITIES”) and CHAMBERS OF COMMERCE, regardless of their size or income, were required to fully comply with chapters X and XIII of the Basic Legal Circular of the Superintendency of Companies “SS,” related to SAGRILAFT and PTEE obligations. The deadline for implementation was May 31, 2025.

Based on a new circular issued by the SS, section 4.5 of External Circulars 100-000016 of December 24, 2020, and 100-000011 of August 9, 2021, added by section 2 of External Circular 100-000004 of October 4, 2023, new differential criteria were established within the scope of application for these entities. The new regulation stipulates the following for each entity:

CHAMBERS OF COMMERCE

1. Chambers of Commerce with annual revenues equal to or greater than 40,000 SMMLV (equivalent to $52,000,000,000 for the year 2024) must implement SAGRILAFT and PTEE focused on the risk of corruption.
2. Chambers of Commerce with revenues between 9,000 ($11,700,000,000) and 40,000 SMMLV must comply with the Minimum Measures Regime (section 6 of Chapter X of the Basic Legal Circular of the Superintendency of Companies).
3. Chambers of Commerce with revenues below 9,000 SMMLV are exempt, although they may adopt these measures as a best practice.
4. Activities such as delegated registrations, arbitration, and conciliation are exempt from Due Diligence.

FOREIGN ESALES

1. Foreign ESALES with revenues equal to or greater than 9,000 SMMLV (corresponding to $11,700,000,000 in 2024) must implement:

• The Minimum Measures Regime (set forth in paragraph 6 of Chapter X of the Basic Legal Circular).
• A PTEE focused on the risks of transnational corruption and bribery based on the risk management stages described in section 5.2 of Chapter XII.

1. It is not necessary to appoint a Compliance Officer, as long as the legal representative or attorney-in-fact of the FOREIGN ESAL must

Chambers of Commerce and foreign ESALES required to implement SAGRILAFT or the PTEE have until May 31 of the following year to implement the required programs.

Chambers of Commerce and foreign ESALES that cease to meet the criteria for implementing SAGRILAFT, the Minimum Measures Regime, or PTEE must comply with a minimum period of permanence of one (1) year from that date.