Ley “Más Mujeres en Directorios”

On August 11, 2025, the “More Women on the Boards” Law was enacted, after a process of almost three years, which establishes a suggested maximum quota percentage of 60% of the sex with the greatest representation on the boards of companies, so that both men and women can equally integrate these spaces.

The main objective of this new law seeks to promote a more inclusive and just economy, addressing the low participation of women in spaces of economic power.

Currently in Chile, women represent more than 51% of the population, but only 22% of them participate in the boards of large companies. In addition, in large companies, 54% of boards are made up exclusively of men, 45% in a mixed way and only 1% exclusively of women.

The main milestones of the new law are the following:

– A suggested maximum quota of 60% of the most represented sex on company boards;

– Implementation will be gradual. In the first three years, the suggestion for companies will be to establish a quota of 80% and from the fourth year 70%. From the seventh year onwards it will be 60% permanently;

– It applies to publicly traded corporations and special joint-stock companies.

– It applies to open corporations and special corporations. The Financial Market Commission (“Comisión para el Mercado Financiero” o “CMF”) will be in charge of permanently evaluating compliance with the regulations, starting six years after its publication.

– Companies that do not adopt the suggested quota may be applied a mandatory quota, temporarily for four years. Meanwhile, compliant companies will be positively highlighted, having a reputational effect against their competition.

It should be noted that as part of the benefits that companies that present good equity indicators on their boards will have, a recognition mechanism is established, for example, in the public procurement system for those companies that adopt the suggested quota in advance.