How do you start a company in Colombia?
Updated: Oct 23, 2020
Year after year hundreds of entrepreneurs set their eyes on Colombia as a venue for their commercial activities. Some of the reasons for this are their geographical location, having access to two oceans, which allows greater transport of goods, or their time zone, which for service companies facilitates the attention of the needs of different continents. But this not only makes it an ideal place to set up a company, but also the facilities that the country allows companies through its free trade zones with tax benefits, among others, or entities such as Procolombia, whose aim is to ensure not only the welfare of the country, also of foreign companies.
Now, how easy can it be to start a company in Colombia?
The first thing we have to do is an analysis of what type of company fits the parameters of creation the entrepreneurs.
In Colombia we have two ways of cataloguing companies:
Based on its legal form: Unipersonal, Corporate Partnership, Cooperatives, Limited Partnership, Limited Liability Company, Joint Stock Company, Simplified Share Company.
According to its size: Micro-Enterprise, Small Enterprise, Medium Enterprise, Large Enterprise, each of these has conditions that determine it as such, measuring parameters such as number of personnel and financial resources.
The next thing we need is to find in your ideas the right motivation, indispensable requirement to create a company in Colombia and then from this come the legal requirements mentioned below:
• Company Bylaws
• The identity card of the legal representative and that of his alternate.
• Open a bank account.
• The RUT
• In the DIAN, a billing resolution must be requested, in principle manual. Without invoices it is possible to hire, but services cannot be charged.
• The Registration of Books in the Chamber of Commerce
• Register the company in the Social Security system.
Over the years, creating a company in Colombia has become a relatively simple and economic process, for the registration of the company must be taken into account if you are a natural or legal person, once we identify the type of person, we must go to the chamber of commerce where the company is to be registered to confirm that the name of this new company is available for registration, if the name is accepted we can proceed to complete the commercial registration form and the NIT application (Tax identification number), after this process we go to the DIAN to officially process the RUT (Single Tax Register) and that the new company is assigned the NIT, in this instance of the process we will know the requirements of operation of the company.
In this way, the company already exists! The next step is to process the Registry of Industry and Commerce in the Ministry of Finance, the Land Use Certificate and to process the health and safety license.
How good it is to continue to see how locals and foreigners continue to make Colombia their home, as well as...
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Colombia, Company, Chamber of Commerce, DIAN, NIT, Ministry of Finance, Procolombia, Requirements, Transferred Professionals, LARM.
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