Eternity Law International — News — Company registration in Columbia

Company registration in Columbia

Published:
December 22, 2020

In fact, Colombia is not offshore, however, this jurisdiction has a large number of free zones that have zero tax rates. This privilege during the first 2 years can be used by small businesses with fewer than 50 employees and a turnover of less than $ 1.3 million per year. Most firms pay tax at the standard rate of 15% for FEZs and 33% for other areas. VAT – 0.

The main advantages of the Colombian jurisdiction are, perhaps, the following:

  • there are no foreign exchange controls, capital gains tax and stamp duties;
  • there are no requirements for the residency of the director (legal entity is allowed);
  • rent for contributors in priority areas, such as agricultural structures, the service sector, the automotive industry and the production of cosmetics, is exempt from tax;
  • due to the fact that the legislative body strictly regulates the fulfillment of the terms of employment contracts, the country has a fairly large number of workers.

Business forms for companies in Colombia

The procedure for registering a Colombian company does not take long and does not require large expenses. The most optimal and profitable option for foreign entrepreneurs is SAS – similar to LLC – and a representative office. Each of the forms has its own advantages and characteristics, depending on what type of activity is being discussed. In accordance with this, separate requirements for founders are also established.

For SAS, the minimum capital requirement is 500,000 pesos. Shareholders and directors can be residents of any country, as well as there are no requirements for their number. The experience of the shareholders and representatives of the management is also not verified, however, a prerequisite is a clean financial reputation. Opening SAS takes 2.5-3 weeks. The Colombian registry is public, so all information must be disclosed to local agents.

Documents

Starting a business in Colombia involves filing:

  • identifying information about the founders, information about the registration address;
  • constituent documentation.
  • In addition, you need:
  • approve the name of the organization, having received the appropriate certificate;
  • leave a business plan indicating the commercial industry of the company;
  • translate papers into Spanish and certify them with a notary.

The documents are submitted to the registrar. You will have to pay a little more for the registration of a representative office than for the incorporation of an LLC. Once the company starts operating, it undertakes to submit reports and be audited at regular intervals.

If you need to register a company in Columbia, our specialists will help you register a company quickly and efficiently. Also, you can buy a ready-made company in Columbia. Write to us in the CRM form and we will help you register a company.

Eternity Law International specialists will provide you with qualified advice on the acquisition of an offshore company, opening a bank account in any jurisdiction, as well as further support of your company’s activities at any stage.

We offer ready-made European and offshore companies. It takes 2 days to reissue documents for new owners.

If you have any questions or need advice on registering or buying a company, call us at the phone numbers listed on the website, or write to us in the CRM form located at the bottom of the page. Our specialists will answer you online.

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