{"id":4331,"date":"2021-05-28T12:22:33","date_gmt":"2021-05-28T09:22:33","guid":{"rendered":"http:\/\/prifinance.loc\/uncategorized\/colombia\/"},"modified":"2023-08-14T10:36:44","modified_gmt":"2023-08-14T07:36:44","slug":"colombia","status":"publish","type":"post","link":"https:\/\/prifinance.com\/en\/south-american-companies\/colombia\/","title":{"rendered":"Company registration in Colombia"},"content":{"rendered":"<div class=\"info-block\">\n<p>Colombia is one of the largest economies in Latin America. It attracts investors with a high level of political stability. Starting a company in Colombia is profitable due to the state&#8217;s financial incentives and skilled labor. The country is considered one of the most business-friendly in the region. Foreigners can set up a company in Bogota or any other city in Colombia and take advantage of its convenient geographical location and attractive business conditions.<\/p>\n<h2>Advantages of registering a company in Colombia<\/h2>\n<ul>\n<li>the possibility of creating companies with 100% foreign participation (except for certain types of activities);<\/li>\n<li>absence of minimum charter capital requirements;<\/li>\n<li>availability of free trade zones;<\/li>\n<li>ease of obtaining bank loans;<\/li>\n<li>availability of tax incentives to attract foreign capital.<\/li>\n<\/ul>\n<\/div>\n<div class=\"info-block\">\n<h2>Main forms of legal presence and doing business<\/h2>\n<p>An entrepreneur can buy a company in Colombia or register a new organization in these legal forms:<\/p>\n<ul>\n<li><em><strong>general partnership ;<\/strong><\/em><\/li>\n<li><em><strong>limited partnership;<\/strong><\/em><\/li>\n<li><em><strong>limited liability company;<\/strong><\/em><\/li>\n<li><em><strong>corporation;<\/strong><\/em><\/li>\n<li><em><strong>simplified joint stock company;<\/strong><\/em><\/li>\n<li><em><strong>trust;<\/strong><\/em><\/li>\n<li><em><strong>branch office;<\/strong><\/em><\/li>\n<li><em><strong>representative office of a foreign company.<\/strong><\/em><\/li>\n<\/ul>\n<\/div>\n<div class=\"info-block\">\n<h2>Company registration procedure<\/h2>\n<ul>\n<li>Choose a unique company name by checking it in the Unified Business Register (Registro \u00danico Empresarial &#8211; RUE);<\/li>\n<li>Obtain a Pre-RUT certificate, which allows the founder to register as a taxpayer in the future;<\/li>\n<li>Register a company in Colombia with the Chamber of Commerce and Industry;<\/li>\n<li>Obtain a unique company identification number (N\u00famero de Identificaci\u00f3n Tributaria &#8211; NIT) from the Directorate of National Taxes and Customs (Direcci\u00f3n de Impuestos y Aduanas Nacionales &#8211; DIAN);<\/li>\n<li>Register the articles of association with the Chamber of Commerce and Industry;<\/li>\n<li>Open a bank account;<\/li>\n<li>Register with the social security system;<\/li>\n<li>Obtain the necessary permits and licenses to run the business.<\/li>\n<\/ul>\n<\/div>\n<div class=\"info-block\">\n<h2>Legislation and regulatory environment<\/h2>\n<p>Colombia&#8217;s legal system is based on civil law. The main normative acts that regulate the business sphere are the Law on Entrepreneurship and the Commercial Code.<\/p>\n<p>A unique state body under the Ministry of Trade, Industry, and Tourism&#8217;s control supervises the organizations&#8217; activities.<\/p>\n<p>All private companies and branches of foreign companies in Colombia must prepare and submit annual financial statements.<\/p>\n<\/div>\n<div class=\"info-block\">\n<h2>Tax system<\/h2>\n<p>If there are no exemptions or special conditions, the company in Colombia will be taxed at these general rates:<\/p>\n<ul>\n<li><em>corporate tax &#8211; 35%;<\/em><\/li>\n<li><em>PIT &#8211; 39%;<\/em><\/li>\n<li><em>VAT &#8211; 19%;<\/em><\/li>\n<li><em>dividend tax &#8211; 0-20%;<\/em><\/li>\n<li><em>capital gains tax &#8211; 15%.<\/em><\/li>\n<\/ul>\n<p>Taxation of non-residents depends on whether they have a branch or a permanent establishment in the country.<\/p>\n<p>Opening a company in Colombia in the Free Trade Zone is advantageous for some activities. Here it is possible to reduce the income tax rate to 20%. VAT is not withheld from goods imported into the Free Trade Zone. Investments in construction are also subject to a particular method of taxation.<\/p>\n<\/div>\n<div class=\"info-block\">\n<h2>Open a business in Colombia:  how Prifinance lawyers can assist<\/h2>\n<p>It would be difficult for an investor to set up a company in Colombia with perfect knowledge of its laws. For a successful business, it is necessary to understand the specifics of different legal forms and nuances of local taxation. Prifinance lawyers will advise on all key issues and help to buy a business in Colombia. We also assist clients in opening bank accounts, obtaining business visas, and providing accounting services for the company.<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Colombia is one of the largest economies in Latin America. It attracts investors with a high level of political stability. Starting a company in Colombia is profitable due to the state&#8217;s financial incentives and skilled labor. The country is considered one of the most business-friendly in the region. Foreigners can set up a company in [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[274],"tags":[237,413],"class_list":["post-4331","post","type-post","status-publish","format-standard","hentry","category-south-american-companies","tag-colombia","tag-colombia-2"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v24.8.1 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Company registration in Colombia | Prifinance Company<\/title>\n<meta name=\"description\" content=\"We offer company formation and bank account opening services in Colombia. New registration and ready-made options. 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