Understand the Jurisdictions Setup Requirement Before Proceed Your Colombia Company Formation
With the third biggest economy in Latin America, Colombia is no longer seen as an economic underdog in the region. Its superfluity in resources, low inflation rates, and an environment ripe for business are some of the reasons why the economy has grown so fast that is now attracting foreign investors into the country. If you are tempted to do business in Colombia, you need to understand all the regulations and the laws that govern Colombia company formation so that you start your business right the first time.
At 3E Accounting, we have experienced attorneys, accountants and tax experts who will simplify for you the process of business formation in Colombia. They can accord you with everything you need to have your investment vehicle up and running within a short time. We are confident that we can provide the best services. Our team has helped other investors in the past, and all you need is get in touch with us.
Why Incorporate a Company in Colombia
Other than low inflation rates, a friendly business environment and an abundance of resources, here are some of the endearing reasons why incorporating a company in the nation now is such a good idea:
- Access to two oceans – Colombia’s geographic location makes it a powerhouse trading platform. This is due to the nation’s access to two oceans. This, in turn, gives access to greater markets for a myriad of goods and services.
- Strategic regional trade agreements – the country has signed very interesting trade agreements with partners in the region. All of these agreements further contribute to a great business environment.
- Attractive legal framework – the legal framework in Colombia is pro-investors, and it makes it easy for them to come in the country to start and operate businesses. They also have protection under the law of their investments.
- Government support for foreign investors – other than the attractive legal framework, the government offers a huge amount of support to foreign investors. This assurance is essential since investors always want to invest in a place where they can get the support they need to create successful ventures.
- An emerging middle class – Colombia has an emerging middle class. This implies more purchasing power for goods and services. It is a sure sign that the economy is doing well.
Types of Legal Entities in Colombia
The following the various types of legal entities you may consider when thinking about Colombia company formation-:
- Simplified Shares Company
- Branch Office
- Corporation
- Limited Liability Company
How to Form a Company in Colombia
The process of creating a successful company in Colombia can be summarized in the following steps-:
- Drafting and signing of a power of attorney – this is to let us, or your preferred Colombia company formation service provider form the company on your behalf so that you don’t have to make a trip to Colombia.
- Creating the company bylaws to define the company’s purpose, identify the structure of the shareholders, and outline the operations of the company.
- Register the company with all the relevant local and national authorities
- Obtain the company tax ID number from the National Tax Authority
- Open and activate a corporate bank account by depositing the required amount of capital
- Put in the capital you wish to invest in the company and start operations.
We Can Help You
3E Accounting can help you with all the above Colombia company formation process. You don’t have to get stressed over starting a new company in Colombia when we can help. Contact us for more details.
