In principle, only Chilean natural persons or Chilean majority-owned corporations with principal domicile and real effective seat in Chile may register an aircraft in Chile. The aeronautical authority may allow the registration of aircraft belonging to foreign natural or legal persons, provided that they have or exercise a permanent job, profession or industry in the country.
"CHAPTER II -     Of the Registration or Registration of the Aircraft and its Nationality
1.- Of the registration or registration [...]
Article 32.- The registration or registration of an aircraft in the National Aircraft Registry gives it Chilean nationality.
[...]
2.- Of the aircraft that can be registered in the National Aircraft Registry
Article 38.- The following may enroll in Chile:
a) Aircraft that belong to Chilean natural persons;
b) Aircraft that belong to Chilean legal entities, understood as such, for these purposes, those incorporated in Chile in accordance with Chilean laws, and that have their main domicile and their real and effective headquarters in this country; that its president, its manager and the majority of its directors or administrators, as the case may be, be Chilean; and that the majority of its capital stock belongs to Chilean natural or legal persons, and
c) Aircraft belonging to communities, provided that most of the community rights correspond to Chilean natural persons or legal entities that meet the requirements established in letter b).
However, the aeronautical authority may allow the registration of aircraft belonging to foreign natural or legal persons, provided that they have or exercise a permanent job, profession or industry in the country. The same authorization may be granted with respect to foreign aircraft operated, in any capacity, by Chilean aircraft companies.[...]" (Law no. 18.916 Approving the Aeronautical Code (8 February 1990), last amended on 30 May 2015, Articles 32 and 38 [google translation])
Law no. 18.916 Approving the Aeronautical Code (8 February 1990), last amended on 30 May 2015, Articles 32 and 38
[<a href="https://www.bcn.cl/leychile/navegar?idNorma=30287">Code</a>]