Understand the Jurisdictions Setup Requirement Before Proceed Your Colombia Company Registration
If you plan to start a new business or expand your existing business in Latin America, Colombia is one of the most sought-after countries to do so. Colombia is known for its solid and growing economy. In fact, foreign investors invested a whopping $13.5 billion USD in Colombia. This is one reason why The Economist named Colombia “Country of the Year” in 2016. Colombian laws also protect investors more than countries like the US and Germany. Here we talk about Colombia Company Registration and guide you through the various steps so that the whole process is totally hassle-free for you.
What Are the Different Company Structures?
There are several structures you can choose for Colombia Company Registration. These are:
- The Colombia Simplified Limited Company (SAS)
- Colombia Limited Liability Company (Ltda,)
- The Colombia Public Limited Company (SA)
- The Colombian Branch
- The Colombian Representative Office
Of these, the Colombia Simplified Limited Company or SAS is the most popular and preferred structure of the company as it does not require any elaborate or special procedures.
Procedure for Colombia Company Registration
The first thing you will have to do for a Colombia Company Registration is to select a name for your company. Check if the name you selected is unique and available. You can select different names for your legal business and trademark. After that, you are expected to write your company’s main business purpose. In this, you must include all details of the company and the details of what activities will take place there.
You will also need to get a Tax Identification Number for your company from the Chamber of Commerce situated in Bogota.
The steps of Colombia Company Registration are as follows:
- Submit the required documents
- Once approved, make and sign a public deed. Further, you or your representative may do this.
- Submit letters of acceptance with the full details of the investor and their representative in Colombia
- Get a Unique Tax Registry (RUT) for your company
- Submit the company ledgers at the Chamber of Commerce
- Open a bank account in any Bank in Colombia
- Register the investment with the Central Bank
Documents to Submit
- Letter of Incorporation – This document gives all the details of the company – the address, the partners, shareholders and employees of the company. This letter also includes the purpose of the business of the company.
- Details of the structure of the company
- Details of the board of directors and their responsibilities
- Plans in case of termination or liquidation of the company
- Power of attorney for a representative, in case he/she is looking after the process of registration in your place
- By-laws of the parent company, in case you are expanding your business
- Details of the legal representative of the company. Usually, the legal firm you appoint to look after the registration takes this place
- Details of the auditor on board
Why Choose Us?
If you have made a choice for Colombia Company Registration, then you have chosen well. At 3E Accounting, we look forward to taking your work forward.
We help you through the process in case you wish for a Colombia Company Registration. For more information and guidance to Colombia Company Registration, contact us. We will then help you with all aspects of registration.
You can request a no-obligation quotation or get more information about starting up a business by sending us an email.