Nikolai Timofejev
15 years in FinTech and payments. Maps your business model to the right licence scope and leads the file all the way to the Superintendencia Financiera authorisation, including banking and payment rails.
Get a payment license in Colombia.
Colombia built a licence for wallets in 2014: the Sociedad Especializada en Depósitos y Pagos Electrónicos, a supervised institution that takes electronic deposits, makes payments and transfers and sends remittances without lending - authorised by the Superintendencia Financiera, capitalised at COP 5,846 million indexed to inflation, insured by Fogafín, and now connected to the central bank's Bre-B instant system in a market of fifty-two million people.
27 yrs
on the international marketon the market
60+
in-house specialistsspecialists
400+
Licenses obtainedlicenses obtained
Updated
Colombia in brief
A deposit-taking licence without lending, insured like a bank.
Colombia's answer to the wallet was a new kind of financial institution. Law 1735 of 21 October 2014 created the Sociedad Especializada en Depósitos y Pagos Electrónicos, the SEDPE, with an exclusive object: to take funds through electronic deposits, make payments and transfers, take loans for its own liquidity, and send and receive giros - and nothing else, no lending to customers. Article 2 sets the minimum capital at COP 5,846,000,000, adjusted every January by the DANE consumer price index since 2015, and leaves the balance and monthly debit limits on electronic deposits to the government's decrees. Paragraph 2 of Article 1 makes registration with Fogafín, the deposit-guarantee fund, compulsory - a wallet balance in a SEDPE is insured the way a bank deposit is. The funds themselves must sit at the Banco de la República or in demand deposits at credit institutions, verified daily under the Superintendencia's instructions.
Decree 1491 of 2015 wrote the operating rules - leverage, liquidity, risk management - into Decree 2555, and the Superintendencia's Circular Externa 50 of 2016 added governance, consumer protection and security. The Superintendencia Financiera authorises the company's constitution and then its operation, assessing shareholders and administrators as it does for any supervised entity. What the licence opens is fifty-two million people, an economy where bank wallets already hold tens of millions of accounts, the Banco de la República's Bre-B instant-payment system that SEDPEs join, and the remittance and cross-border flows of the Andean region. Tax runs 35% corporate with 19% VAT and the 4-per-thousand tax on financial movements. The SFC is thorough - plan on a year - and it reads a business plan as a banking supervisor. We build the file to that reading from our Americas desk, in Spanish.
Law 1735/2014 created the SEDPE: electronic deposits, payments, transfers and giros, no lending (Art. 1). Capital COP 5,846,000,000 at 2014 values, indexed to the IPC every January (Art. 2). Fogafín registration mandatory; funds at the Banco de la República or in bank demand deposits, checked daily. Authorised by the Superintendencia Financiera in two stages.
52 million people, Bre-B instant payments, Decree 1491/2015 and Circular 50/2016 for operation. 35% tax, GMF 4×1000, VAT 19%. Twelve to eighteen months realistic. We build from our Americas desk.
The routes
SEDPE - or a payment-system role without the deposit licence.
One purpose-built licence and a set of lighter roles: the SEDPE for wallets and electronic deposits at full Superintendencia supervision, and participation in low-value payment systems or initiation for models that hold no balances. We fix the route first, then build once.
SEDPE for deposits - payment-system roles without them.
01 - SEDPE
Sociedad Especializada en Depósitos y Pagos Electrónicos
The wallet licence: electronic deposits, payments, transfers and remittances without lending, authorised by the Superintendencia Financiera under Law 1735, capitalised at COP 5,846 million indexed to inflation, insured by Fogafín, funds at the central bank or in bank deposits.
The wallet licence: electronic deposits, payments, transfers and remittances without lending, authorised by the Superintendencia Financiera under Law 1735, capitalised at COP 5,846 million indexed to inflation, insured by Fogafín, funds at the central bank or in bank deposits.
- ✓Electronic deposits, payments, transfers, giros
- ✓Capital COP 5,846M at 2014 values · IPC-indexed
- ✓Fogafín deposit insurance - mandatory
- ✓Funds at Banco de la República or demand deposits
- ✓No lending to customers
- ✓Balance and debit limits by decree
02 - PAYMENT-SYSTEM ROLES
Without holding balances - SFC / BanrepLow-value systems · initiation · gateways
The roles for models that move money without holding it - participation in low-value payment systems under Decree 1692 of 2020, payment initiation and gateway services - supervised or registered by the SFC without the SEDPE's capital and deposit rules.
Low-value systems, initiation and gateways: move money without holding it; no Fogafín; lighter capital; upgrade path.
- ✓Low-value payment-system participation
- ✓Payment initiation and gateways
- ✓Bre-B connectivity through participants
- ✓No deposit-taking, no Fogafín
- ✓Lighter capital and supervision
- ✓Upgrade path to the SEDPE later
Costs and timelines are confirmed for your case before any work begins. Capital sits in Article 2 of Law 1735 and is re-indexed every January; the figure for your filing year, the file cost and substance are itemised in your quote.
Why Colombia
A licence built for wallets, insured like a bank, on a new instant rail.
Colombia is a destination market with a statute written for e-money deposits, a deposit-guarantee fund behind them and a central bank that just built instant payments.
✓
A purpose-built statute
Law 1735 defines the SEDPE's exclusive object in one article - deposits, payments, transfers, giros, no lending - so the licence is exactly as wide as a wallet needs.Exactly as wide as a wallet needs.
✓
Fogafín behind every balance
Registration with the deposit-guarantee fund is compulsory - a customer's wallet balance is insured like a bank deposit, an argument no unlicensed competitor can make.Balances insured like deposits.
✓
Funds at the central bank
Deposits sit at the Banco de la República or in demand deposits at credit institutions, checked daily - a safeguarding regime as strong as any in Europe.Banrep or bank deposits, daily.
✓
Bre-B
The Banco de la República's instant-payment system went live in 2025 and SEDPEs participate - a licensed wallet moves money in seconds across the whole system.Instant payments since 2025.
✓
Fifty-two million people
A market where bank wallets already hold tens of millions of accounts and where cash is still large - the room to grow is the reason to license.Room to grow.
✓
Inflation-indexed capital
COP 5,846 million at 2014 values, re-indexed every January - a bar that scales with the economy, published before each filing year.Published before each filing year.
How it compares
How Colombia differs from other routes.
Colombia trades the region's heaviest corporate tax for a licence that is insured, safeguarded and connected to instant payments. The honest comparison is below.
Colombia vs other jurisdictions
| Feature |  Colombia | Other jurisdictions |
|---|---|---|
| Deposit insurance | Fogafín - mandatory | None for e-money |
| Safeguarding | Central bank or bank deposits, daily check | Segregated accounts |
| Instant rail | Bre-B - SEDPEs participate | Bank-sponsored |
| Corporate tax | 35% | 25-30% |
Deposit insurance
ColombiaFogafín - mandatory
Other jurisdictionsNone for e-money
Safeguarding
ColombiaCentral bank or bank deposits, daily check
Other jurisdictionsSegregated accounts
Instant rail
ColombiaBre-B - SEDPEs participate
Other jurisdictionsBank-sponsored
Corporate tax
Colombia35%
Other jurisdictions25-30%
Country by country
| Country | License type | Taxation | Requirements |
|---|---|---|---|
| Colombia | SEDPE (SFC) | 35% | COP 5,846M indexed · Fogafín |
 Peru | EEDE (SBS) | 29.5% | S/ 2.89M · 100% in trust |
 Mexico | IFPE (CNBV) | 30% + PTU 10% | 500k / 700k UDIs · segregation |
 Chile | Prepaid card issuer (CMF) | 27% | ≥ 25,000 UF · liquidity reserve |
ColombiaLicense typeSEDPE (SFC)
Taxation35%
RequirementsCOP 5,846M indexed · Fogafín
PeruLicense typeEEDE (SBS)
Taxation29.5%
RequirementsS/ 2.89M · 100% in trust
MexicoLicense typeIFPE (CNBV)
Taxation30% + PTU 10%
Requirements500k / 700k UDIs · segregation
ChileLicense typePrepaid card issuer (CMF)
Taxation27%
Requirements≥ 25,000 UF · liquidity reserve
Before you apply
Requirements for the SEDPE authorisation.Requirements for the authorisation.
The Superintendencia authorises a SEDPE as it does any supervised entity - constitution first, then operation - and reads the file as a banking supervisor. The checklist below is what a passing application contains.
01
A Colombian sociedad anónima with the exclusive object of Article 1 of Law 1735 - electronic deposits, payments, transfers, giros - and no lending to customers.
02
Minimum capital under Article 2: COP 5,846,000,000 at 2014 values, adjusted by the DANE consumer price index every January - evidenced at the figure for the filing year.
03
Registration with Fogafín, the deposit-guarantee fund, under paragraph 2 of Article 1 - with the premiums budgeted.
04
Shareholders and beneficial owners identified with source of funds and financial capacity, and administrators of good repute with the experience the SFC assesses for supervised entities.
05
A business plan and financial projections the Superintendencia can stress: products, volumes, revenue, leverage and liquidity under Decree 1491's rules.
06
Safeguarding: deposits held at the Banco de la República or in demand deposits at credit institutions, with the daily verification the SFC instructs.
07
Product design within the government's balance and monthly debit limits on electronic deposits, including the simplified-opening rules.
08
Governance, risk management, consumer protection and security to Circular Externa 50 of 2016 and the SFC's basic legal and accounting circulars.
09
AML/CFT framework under SARLAFT: customer identification, monitoring, reporting to the UIAF and a resident compliance officer.
10
Connectivity to Bre-B and the low-value payment systems the product needs, planned with the licence rather than after it.
01
Colombian S.A., exclusive object of Art. 1.
02
Capital COP 5,846M (2014) indexed by IPC.
03
Fogafín registration.
04
Owners and administrators assessed by the SFC.
05
Plan with leverage and liquidity per Decree 1491.
06
Funds at Banrep or bank deposits, daily check.
07
Products within decree limits.
08
Governance per Circular 50/2016.
09
SARLAFT with resident officer (UIAF).
10
Bre-B and low-value system connectivity.
Reflects Law 1735 of 2014 (Articles 1, 2, 6, 7), Decree 1491 of 2015 as incorporated into Decree 2555 of 2010, Circular Externa 50 of 2016 and the Superintendencia's authorisation practice, as of 2026.Ley 1735/2014 (Arts. 1, 2, 6, 7); Decreto 1491/2015 in Decreto 2555; CE 50/2016.
How it works
From first call to the SFC register.
01
Route and strategy
SEDPE or a payment-system role; products within the deposit limits; Bre-B plan - the route and budget fixed in writing.SEDPE or system role - in writing.
02
Constitution authorisation
The application to constitute filed with the SFC - shareholders, administrators, capital and plan assessed; the company incorporated on approval.Owners, administrators, capital, plan.
03
The operating file
Governance, systems, safeguarding, SARLAFT and Fogafín registration documented for the operating certificate - complete before filing.Complete before filing.
04
SFC review
Question rounds answered and inspections passed - plan on twelve to eighteen months end to end.12-18 months realistic.
05
Authorisation and launch
Operating certificate issued, Fogafín and Bre-B live, funds at the central bank - and the reporting calendar running.Fogafín, Bre-B, funds at Banrep.
Quick facts
RegulatorSuperintendencia Financiera
LawLey 1735/2014 · Decreto 1491/2015
LicenceSEDPE · exclusive object
CapitalCOP 5,846M (2014) · IPC-indexed
Deposit insuranceFogafín
Client fundsBanrep · bank deposits · daily check
Timeline12-18 months realistic
Corporate tax35% · VAT 19% · GMF 4×1000
The statute is short and the supervisor is thorough. A file that reads like a bank's - leverage, liquidity, safeguarding - is what keeps the review to a year, and our job.
Your Colombia desk
Run from our Americas desk.
Prifinance - Americas desk
Madeira (Portugal) · coordinating Colombian mandates in Spanish
Rua da Alegria 31, 1F, Madeira
01
Colombian company formation
S.A. incorporation with the SEDPE's exclusive object, capital to the indexed figure and the corporate layer the SFC expects - structured for the authorisation from day one.S.A., exclusive object, indexed capital.
02
The SFC file
Business plan, leverage and liquidity model, safeguarding design and SARLAFT documentation to the Superintendencia's circulars - drafted by us and defended through the question rounds.Reads like a bank's.
03
Fogafín and Bre-B
Deposit-guarantee registration and instant-payment connectivity scoped with the licence so the wallet launches insured and connected.Insured and connected at launch.
04
Substance in Colombia
Resident administrators, a compliance officer and premises in Bogotá or Medellín - the presence the SFC supervises, recruited from the region's fastest-growing fintech talent pool.Bogotá administrators, compliance, premises.
We also have offices in
Tallinn
Estonia
Roseni 13
Vilnius
Lithuania
Gedimino pr. 2
Prague
Czech Republic
Vlkova 532/8, Žižkov
London
United Kingdom
7 Bell Yard
Dubai
UAE
33 Level, Al Saqr Business Tower
Budapest
Hungary
Korányi Sándor u. 4
Istanbul
Turkey
Perpa Ticaret Merkezi, A Blok
Good to know
Taxation of payment companies in Colombia.
The region's heaviest headline rate, a tax on every financial movement, municipal turnover tax and 19% VAT - a stack to plan around, with free zones at 20% for qualifying operations.
Corporate tax 35%
The general rate on a SEDPE's fee and margin income - the highest of the region's major markets, with financial institutions historically carrying surcharges on top.Region's heaviest.
GMF 4×1000
The tax on financial movements at four per thousand of every debit - exemptions exist for certain accounts and the fee model is built around them.On every debit.
VAT 19%
The standard rate; many financial services are excluded while technology and fee income may not be - the product mix is mapped before launch.Product-mapped.
ICA
The municipal industry and commerce tax on turnover at the city's rate - Bogotá's is the one most licensees pay.Municipal turnover tax.
Dividends abroad
20% withholding on dividends to foreign shareholders before treaty relief - the group structure is modelled with the licence.Treaty-relieved.
Free zones
Qualifying operations in free zones pay 20% - relevant to the technology and service companies of a payments group.Qualifying operations.
Tax summary
Corporate tax35%
Financial movements (GMF)4×1000
VAT19%
ICAMunicipal · on turnover
Dividend withholding20% · treaty-relieved
Free zones20% for qualifying operations
*Figures as of 2026 per the DIAN. Surcharges and free-zone eligibility are assessed per structure.
Turnkey professional support
Experienced lawyers and international consultants.
We provide end-to-end support, from company registration and the application file to regulatory interaction and compliance oversight - with an individualized approach to each client.
Oleksii Kindratenko
Builds the application itself: Colombian S.A., AML/KYC policy pack, capital structure and tax registrations. His document sets are the reason reviews finish in months, not years.
Eugeniu Bevziuc
First point of contact for international founders. Runs the whole setup remotely, across time zones and languages - from the first call to a live, licensed institution.
Follow Prifinance
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Colombia · Superfinanciera
Launch your payment project in Colombia with expert support.
Full-service assistance - from incorporation to the SEDPE authorisation, Fogafín registration, Bre-B connectivity and ongoing compliance.
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Is Colombia the right fit for your project?
Our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.
Written assessment within 2-5 business days
Request a free conclusion →FAQ
The Colombian payment licence, answered.
What licence does a payment business need in Colombia?+
For wallets and electronic deposits, authorisation by the Superintendencia Financiera as a Sociedad Especializada en Depósitos y Pagos Electrónicos under Law 1735 of 2014. Models that move money without holding balances take roles in low-value payment systems, initiation or gateways instead.
How much capital is required?+
Article 2 of Law 1735: COP 5,846,000,000 at 2014 values, adjusted every January by the DANE consumer price index since 2015. The indexed figure for your filing year is confirmed in writing at scoping.
What may a SEDPE do?+
Article 1's exclusive object: take funds through electronic deposits, make payments and transfers, take loans for its own liquidity, and send and receive giros. It may not lend to customers.
How are client funds protected?+
Twice: deposits are held at the Banco de la República or in demand deposits at credit institutions with daily verification, and every SEDPE must register with Fogafín, so balances carry deposit insurance like a bank's.
How long does the Superintendencia take?+
The SFC authorises constitution first and operation second, assessing shareholders, administrators, capital and plan at each stage. Plan on twelve to eighteen months end to end; a file that reads like a bank's is the lever.
Can a SEDPE use instant payments?+
Yes - SEDPEs participate in Bre-B, the Banco de la República's instant-payment system launched in 2025, and in the low-value payment systems regulated under Decree 1692 of 2020.
Are there limits on deposits?+
Yes - Law 1735 leaves balance and monthly debit limits to the government, set by decree in minimum wages, with simplified-opening rules for small balances. Products are designed inside those limits from the start.
How are payment companies taxed?+
Corporate tax at 35%, the 4-per-thousand tax on financial movements, 19% VAT, municipal ICA on turnover and 20% withholding on dividends abroad, with free zones at 20% for qualifying operations.
What substance does the SFC expect?+
A Colombian company run from Colombia: resident administrators who pass the SFC's assessment, a compliance officer reporting to the UIAF, real premises and the licensed activity performed in the country.
Why Colombia rather than Peru or Mexico?+
Colombia is the market with the strongest wallet law - insured, safeguarded at the central bank, connected to Bre-B - and the heaviest tax. Peru is cheaper to capitalise; Mexico is the remittance corridor. Andean groups often hold two; we sequence them.
Which licence?+
SEDPE under Law 1735; system roles without deposits.
Capital?+
COP 5,846M at 2014 values, IPC-indexed yearly.
What may it do?+
Deposits, payments, transfers, giros - no lending.
Client funds?+
Banrep or bank deposits, daily check; Fogafín insured.
How long?+
Two stages; 12-18 months.
Instant payments?+
Yes - Bre-B participation.
Limits?+
By decree, in minimum wages.
Taxes?+
35%, GMF 4×1000, VAT 19%, ICA.
Substance?+
Resident administrators, compliance (UIAF), premises.
vs Peru / Mexico?+
Strongest wallet law, heaviest tax.
Client notes
Google4.7★★★★★
Founders who wanted it done right.
Google4.7★★★★★
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Get a free legal opinion on your project - our legal team will analyze your case at no cost and provide a written legal opinion: which jurisdiction, licence scope, or route fits your business.Free legal opinion: which Colombian route fits your project and what it will cost.
✓Written legal opinion within 2-5 business days - free of charge✓A clear recommendation on the right licence scope, not a sales pitch✓Transparent fixed fees, confirmed up front✓EN · RU · ES speaking team
Prifinance is an independent law and advisory firm. We are not a regulator and are not affiliated with, endorsed by, or acting on behalf of the Superintendencia Financiera de Colombia or any other public authority. Authorisations are granted by, and obtained directly from, the competent authorities.