Finally, you need to open a business bank account to complete the process and start your business in Colombia. There are many different banks in Colombia, and each offers different benefits and agreements for corporate accounts. Go to the Chamber of Commerce, where we want to create the company and register the articles of association, register these documents and thus temporarily obtain a kind of Chamber of Commerce. We hope to be of great help in the next steps and are sure that they will lead to the birth of the legal life of a long-awaited company. Once this step is completed, your company is ready to operate in the country. If you want to know how to improve the efficiency of your work team and your production, Dilisolver offers you a platform for managing commercial due diligence in Colombia. What to expect: If you wish to withdraw your consent and stop listening to us, simply click on the unsubscribe link at the bottom of any email we send you or contact us at social@bizlatinhub.com. We value and respect your personal data and will do everything we can to protect it. By submitting this form, you agree that we may process and use your data in accordance with the conditions set out in our Privacy Policy. Business creation in the country does not pose any major challenges.

However, their management, due to the large number of formal obligations related to information and taxation, creates an obstacle that we have not been able to overcome in getting the self-employed or entrepreneurs to structure their operations, large or small, commercial enterprises, to stay informed and to avoid sanctions. Once you have been assigned the provisional NIF, you will have one month to submit the necessary documentation and obtain the final NIF. The first step to starting a business in Colombia is to draft and sign the Power of Attorney (POA) for your legal representative. If you are not the company`s representative, you must also indicate the following: The Colombian government is committed to encouraging foreign investment and facilitating administrative processes. For this reason, many of these business onboarding processes can be done online. Step 6: Get a tax identification number (NIT) for national taxes. Subscribe to our newsletter to receive the latest business news and advice on starting a business, legal entity compliance, accounting, back office, and tax requirements. Save my name, email address, and website in this browser for the next time I leave a comment.

However, the problem is much simpler than it seems, and to help, we decided to look at the question of how to carry out the procedure for setting up a SAS company in Colombia. Given that they represent more than 90% of the Colombian economic fabric. Negative certification is a document that proves that the name you have chosen for your company is exclusive. This means that there is no other company with this name. Registration approval only takes 24 hours, after which your company can start trading. You must go to your provincial commercial register to legalize the protocol book, directory, newspaper and inventory book. It`s no secret that you almost always need an initial investment to start a business. The Chamber of Commerce will review this documentation to confirm that it complies with the country`s legal requirements and business formation guidelines.

Already with these steps we can request the issuance of our certificate of existence and the final legal representation. This includes the legal content, the name of the company, the acronym with the final tax identification for tax purposes in Colombia. DIAN, the Chamber of Commerce and a bank are involved. A percentage of more than 90% of the companies registered in the country are S.A.S (Simplified Joint Stock Companies), so we will use this social type to describe the training process In summary, we currently have all the technological infrastructure, so the process of setting up a company is carried out at this time and immediately. Thus, the creation of an online business is possible. You must draft the articles of association of your company. This is the composition of the company. Once the decision is made and all the variables of the idea and business model defined, the next step is formalization. Formalization is important because, on the one hand, it helps to structure and organize the company`s processes and, on the other hand, it helps to comply with established legal obligations such as the payment of taxes. Once this is established, it is time to visit the banks and contact potential candidates to get the financing you need.

First of all, there are three (3) companies in Colombia that are legally directly related to the creation of a business, namely: To start a business, you need to obtain the basic documents, register the company with the Chamber of Commerce, conduct proceedings before the National Directorate of Taxes and Customs (Dian) and open a bank account in Colombia. with the respective channeling of currencies. Another option that the foreign investor has is the establishment of a foreign branch, which has the advantage of exemption from income or wealth tax. These branches are constituted almost exactly like the Colombian company under the following requirements: There are several formal legal steps to set up your business in Colombia. Make sure you get support and advice from a local legal expert in the country to ensure you meet all legal and accounting requirements of the business. If, after reading this article, you still think that the whole process is too much for you, there are always professionals ready to help you, with different prices that adapt to any economic situation. Just find the one that`s right for you. If you are interested in starting a business in Colombia and would like help to complete this process without complications or setbacks, our team of legal experts in Colombia can help. Contact us to find out how we can advise you to start a business in Colombia. This business plan is the same one you need to present to your investors in a timely manner when it comes to seeking financing. You will need to create a bank account dedicated to your new business. Tags: Colombia | Business creation | Legal persons | Entrance to the | Business market in Colombia | Business opportunities Finally, it is enough to register the company with the financial secretariat of the municipality in which we operate.

by the Register of Industry and Commerce. Starting a business begins with the conception of a business idea and the resulting decision-making. To determine the feasibility of the idea, it is necessary to carefully study all the elements that involve its implementation, such as: market conditions, the needs that the product or service will solve and the value proposition that you will offer to customers. Starting a business in this country is an increasingly simple and economical process. Colombia has taken enormous steps to simplify procedures, at least as far as starting a business is concerned. In this article, you will learn about the procedures and progress made in this topic. When starting a business, there are a number of issues you need to consider, from defining the name to opening the bank account where the company`s share capital is managed. The following steps will guide you to realize your entrepreneurial dream in a simple and clear way. Get started now! Often we make the decision to start a company in Colombia because of a great business idea we had, or simply because we see the need to grow in our business and try to give it all the formality of the deal.