How to Incorporate a business in Colombia, is quite simple, find all you need to know about POA, Bylaws, opening a bank account, more. Register a business in Bogota, Cali, Medellin, Bucaramanga, Barranquilla, Pereira. These are some questions you may want to consider when setting up a company in Colombia.
How to incorporate a company in Colombia?
What you need to know about POAs, Bylaws, branch office or SAS, bank account opening and more.
When registering a company in Colombia, it is necessary to designate the best type of company according to your needs, it can be a SAS, SA, LTDA or even a branch, the above are the most common;
Then, the incorporation and registration cycle is quite simple, prepare the legal documents, register before the Chamber of Commerce of the city of interest, as well as the corresponding registration before the Tax authority “DIAN“, in order to obtain the RUT and RIT. Finally, you need to open a bank account.
As a foreign investor, you should know that the process can be carried out by means of a power of attorney (POA) and that the subscribed share capital has no minimum amount. However, it is important to know that the estimated term to pay out such capital is 2 years after the incorporation of the company.
In addition, if you are looking to incorporate or set up a company in Bogota, Medellin, Cali, Barranquilla, Bucaramanga or any other city of your interest, you should consider the following process.
What are the steps to create or incorporate a company in Colombia?
By the legal team of G&D Consulting. Legal advice for incorporating a company in Colombia.
How to start/register a company in Colombia?
**I am abroad and I am looking to incorporate a company/business in Colombia.
The following steps must be followed:
- Choose the name and type of company.
- Sending the Certificate of Existence and Legal Representation of the investing company.
If you are an individual or natural person, you only need to send a copy of your passport. - Power of attorney, authorizing our law firm to initiate the company’s activities on behalf of the investing company located abroad.
- List of the shareholder composition of the investing company.
- Authentication of documents.
- Note: If the country from which the documents originate is covered by the Hague Convention, it is not necessary to perform the above steps.
In this case, only the notarial registration and the apostille are necessary, without prejudice to the official translation of the documents, if required. - Protocol of public deed and preparation of bylaws.
- Designation of principal and alternate legal representative.
In such a case, if you are abroad, our law firm can act as your legal representative. - Obtaining the RUT and RIT.
- Registration of the invoicing resolution.
- Registration of the Books of the Company in the Chamber of Commerce.
- Opening of a bank account.
- Registration of foreign investment with the Banco de la República.
The incorporation of companies in Colombia with foreign partners concludes with the registration of the foreign investment with the “Banco de la República”.
How to start a business in Colombia | G&D Consulting Group
How to create / register a company in Colombia if I am in the country?
**I am a Colombian or permanent citizen physically located in Colombia and I want to incorporate a company/business in Colombia.
The following steps must be followed:
- Choose the name and type of company.
- Protocol of public deed and drafting of bylaws.
- Designation of the principal and alternate legal representative.
- Obtaining the RUT and RIT.
- Registration of the invoicing resolution.
- Registration of the Books of the Company in the Chamber of Commerce.
- Opening of the bank account.
By, G&D Consulting legal team
If you need advice, please contact us.