Pariente Advisory · Regulatory Intelligence Series

Chile's SII Resolution 69 represents a significant moment in Latin American gaming regulation, establishing a tax framework for offshore betting operators that operate without formal licensing. The resolution creates a VAT reporting mechanism that allows unlicensed platforms to remit taxes while continuing to operate outside the formal regulatory perimeter. This approach is distinctive in the region and reflects a deliberate choice to prioritize revenue collection over comprehensive market oversight.

The resolution's implications extend beyond Chile's borders. Other Latin American jurisdictions are watching to see whether the VAT-without-licensing model proves sustainable and whether it generates sufficient revenue to justify the regulatory trade-offs. The approach suggests that some governments may be willing to accept a bifurcated market—licensed operators subject to full oversight, and offshore platforms subject only to tax obligations—if the alternative is continued evasion and zero revenue capture.

For operators, SII Resolution 69 creates both opportunity and uncertainty. Offshore platforms can now formalize their tax compliance without surrendering operational independence or accepting licensing conditions. However, the lack of formal licensing means these operators remain vulnerable to future enforcement actions, legislative changes, or exclusion from the market if Chile decides to pursue full legalization. The resolution is a snapshot of current policy, not a guarantee of permanent market access.

The strategic question for market participants is whether SII Resolution 69 signals Chile's long-term regulatory direction or represents a transitional phase. If Chile eventually moves toward comprehensive licensing, current offshore operators may find themselves disadvantaged relative to newly licensed competitors. Conversely, if the VAT-without-licensing model becomes the permanent framework, offshore operators have achieved a stable, tax-compliant status without the costs of formal regulation. The resolution's true significance will only become clear as Chile's broader legislative agenda on gaming unfolds.