With its rich biodiversity, vibrant culture, and growing economy, this South American country has grown into a leading destination for travelers, expatriates, and businesses seeking to set up shop overseas. Only a short plane ride from the US East and West coasts, many companies also use Colombia as a gateway to Panama to the north, as well as to the rest of the South American continent. Like any emerging market economy, doing business in Colombia initially presents some unique legal and tax challenges. However, these challenges can be overcome, and for those with a solid business plan, dedicating the time and resources to establishing a presence in Colombia can be well worth the investment.
Share this page Doing Business in Colombia The main purpose of this document is to inform the reader in a summarized way about the most relevant legal and tax matters that relate to foreign investment in Colombia.
We hope this summary is useful for those interested in doing business in Colombia. Colombia General Facts Colombia has one of the most outstanding macroeconomic performances within the region. The stability and continuity of government policies and independence of its economic bodies guarantees an ideal environment for investing.
Foreign Investment and Exchange Regime The Colombian Exchange Regime has the main objective of promoting internationalization of the Colombian economy. Foreign investment comprises all investment of foreign capital, whether direct or portfolio, made in Colombian territory. Labor law is divided into two areas: Immigration Framework - Visas Colombia regulates the entry and permanence of foreigners in the country by means of an immigration regime.
This chapter presents the regulations that the Ministry of Foreign Affairs has established for citizens from restricted countries. Tax Framework The Colombian tax system establishes taxes at a national and sub-national level departmental and municipal.
The main national-level taxes are the income tax and the supplementary capital gains tax, the wealth tax temporary validitysales tax - IVA, national excise tax and the tax on financial transactions.
Excise Tax Excise tax is generated by provision or sale to a final consumer or importation by the final consumer of certain products or services, such as mobile telephony, certain vehicles, dispensing of prepared meals, among others Corporate Matters In Colombia, domestic and foreign investment vehicles are supported by Constitutional principles, such as the right to equality, protection of free enterprise and private initiative.
Government Contracting Public contracting has a superior character derived from the government purposes it pursues.
These purposes are an obligation for the respective government entities as well as for individuals contracting with the State, insofar as the latter always act in their capacity as Collaborators of the Administration.Doing Business Colombia 1.
Permanent activities in Colombia Pursuant to article of the Colombian Commerce Code, if a foreign organization performs any of the following activities within a business scheme, such organization is considered to develop a permanent.
La puntuación de distancia a la frontera (DTF) muestra la distancia de cada economía a la "frontera", que representa el mejor desempeño observado en cada uno de los indicadores en todas las economías de la muestra de Doing Business desde Doing Business in Colombia.
This website contains a collection of published reports designed to help U.S. companies understand the opportunities and challenges of doing business in Colombia.
The Doing Business project provides objective measures of business regulations for local firms in economies and selected cities at the subnational level.
Over UK business operate in the Colombia, including well known companies like Virgin, BT, and Shell, as well as some small and medium sized companies. Colombia is ranked by the World Bank as. 2 Contenido Generalidades de Colombia Colombia en cifras ¿Por qué invertir en Colombia?
Democracia pluralista Estructura de Estado Banco Central independiente.