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In Colombia there are different types of companies with particularities in tax aspects, responsibility of their partners or shareholders, their way of establishing, transforming and diluting.
In the country you can establish: Public Limited Companies – S.A Simplified Share Companies – S.A.S Limited Liability Companies – LTDA Limited Partnerships (Simple or Shared) Collective Companies So the decision depends on the company's plan, we can explain these issues for each case.

The only correct way to deposit money for a foreign investment in Colombia is through an IMC – Foreign Exchange Market Intermediary, in this case any Commercial Bank legally constituted in Colombia. For the correct entry of foreign currency, the company must be duly constituted and the respective form No4 of the Banco de la República – Central Bank must be filled out. It is not correct to bring cash into the country.

They can be Natural Persons or Legal Entities, for Legal Entities the respective powers of their Board of Directors are necessary for the constitution of the company in Colombia, procedures that are advised at the time of incorporation, since many of the documents are required to be duly apostilled.

Every local company must keep in mind that to contract services it is necessary for the providing company to be duly constituted, to have its SINGLE TAX REGISTRATION – RUT up to date, so that expenses can be deductible. If a natural person is hired, there are other requirements that must be met. You must be asked to comply with local regulations and be able to make payments deductible in the operation of the contracting company. Add a response to this point.

Confidentiality agreements must be established on each occasion that company information is to be shared to receive a service or proposal from an operator. It is important, since confidential financial and partner information is generally shared. Our legal team establishes confidential NDA agreements according to the client's needs.

In Colombia there are different types of sanctions regarding the controlling entities of the State, since as in all places, failure to comply with a financial obligation with a bank, supplier or client implies more sanctions or legal demands. In Colombia, the entity that is in charge of managing taxes is called DIAN (National Tax and Customs Directorate). They have the power to impose tax sanctions for late submission of different taxes or obligations and for the failure to properly settle taxes. the taxes. There are also different surveillance entities called SUPERINTENDENCES which also issue decrees to stipulate obligations for companies, which, if not met, can lead to monetary sanctions.

There are Withholdings at source, which are advance payments to the Income Tax Return that is submitted annually. In Colombia the Tax issue is complex, it depends a lot on the type of company, whether goods or services are sold.

Foreign workers who are going to work for a company incorporated in Colombia require having a TP4 work VISA. Without this visa it is not possible to work legally. Our legal team specializes in these procedures.