Phone: +44 20 3807 0556
Email: info@mevconsultants.com
Email: info@mevconsultants.com
Register a company in Colombia
Company incorporation, bank accounts, accounting services in Colombia
Registration packages
Services
Essential
Standard
Premium
Company registration (SRL)
Annual registered address
Notary services and company seal
Personal tax ID (RUT)
Remote corporate bank account
Accounting services
Start your company in Colombia
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How you can register a company in Colombia with us
Submit shareholder and director information to our firm with a signed power of attorney
Settle a payment for registration and banking assistance
Receive corporate documentation of the registered company and access to the corporate bank account of your company
Key details about Colombia
Republic of Colombia is located in the northwestern region of South America. Colombia has a territory of 1,141,748 square kilometers. Colombia borders Brazil, Ecuador, Panama, Peru and Venezuela and has access to the Caribbean Sea, as well as Atlantic Ocean and Pacific Ocean. The capital city of Colombia is Bogotá, the largest city and the location of key government institutions. Colombia has a population of 50,38 million people.
Corporate taxation, VAT taxation, Personal taxation
- Corporate income tax - 35%. Tax returns are filed on an annual basis. Advance income tax payments are made twice a year for most commercial enterprises
- Dividend withholding tax - 10% for payments to non-residents, 0%, 7.5% and 10% for payments to residents
- Interest withholding tax - Standard tax rate 20% or reduced rate of 5% and 15% or tax exempt
- Royalties withholding tax - 20%
- Capital gains tax - 10%
- VAT - Standard tax rate 19% or reduced rate of 0% and 5% or tax exempt. Tax returns are filed on a bimonthly basis for commercial enterprises with gross revenue exceeding USD 870,000 (UVT 92,000) and on a quarterly basis for the rest of commercial enterprises
- Personal income tax - from 0% up to 39%.
The following are the most common types of companies to incorporate a company in Colombia as:
- Limited liability company (Sociedad de Responsabilidad Limitada - SRL)
- Public limited company (Sociedad Anónima - S.A.)
- General partnership (Sociedad Colectiva - S.C.)
- Limited partnership (Sociedad en Comandita Simple - S. en C.S.)
- Partnership limited by shares (Sociedad en Comandita por Acciones - S. en C. por A.)
- Simplified Corporation (Sociedad por Acciones Simplificada - S.A.S.)
- Branch office (Sucursal).
- Individuals or legal entities that are intending to register a company in Colombia can either be resident or non-resident in Colombia.
- A resident or a non-resident individual can be a company director in Colombia. It is, however, required to set up a company in Colombia with a resident legal representative.
- At least 1 shareholder is required in order to register a company in Colombia if such company is incorporated as a SAS (a simplified corporation). An individual shareholder can simultaneously become a director of this company.
- It is not required to create substance (resident employees, office space) in Colombia in order to establish a company in Colombia or to conduct business in the country.
- No minimum share capital is established to start a company in Colombia as a SAS (a simplified corporation).
- SAS registration takes between 12 and 15 business days with the bank account taking up to 15 business days.
- Details of company founders, shareholders and directors after company registration in Colombia is complete is publicly available in the state corporate register.
- With our service you can register a company and open a corporate bank account completely remotely in Colombia upon a power of attorney.
Official currency of Colombia is Colombian peso (COP).
Colombia has the fourh largest economy in Latin America. Petroleum is the main export of Colombia representing nearly 50% of total exports. Manufacturing makes up 12% of the county's exports. Colombia also has a rapidly growing IT industry. Shipbuilding industry is also one of the largest in the world. Colombia is the 2nd largest producer of electronics and appliances in Latin America. Electricity production comes primarily from renewable energy sources. Nearly 70% is obtained from hydroelectric generation.
In terms of foreign trade the largest exports of the country are mineral fuels, oils, gold, coal, distillation products, fruit, agricultural products, coffee, sugars, confectionery, food produts, palm oil, plastics, precious stones, metals, forest products, chemical goods, pharmaceuticals, perfumery and cosmetics, machinery, textile and fabrics, clothing and footwear, glass and glassware, furniture, construction equipment.
Imports of Colombia consist of electrical machinery and equipment, cars and vehicles, electric conductors, consumer goods, medicaments.
Primary trading partners of Colombia are Brazil, Ecuador, Panama, Mexico, Peru, the USA, China, India, Italy, Turkey, Spain, France, Japan, Germany.
The GDP of Colombia grew by 10.6% in 2021 and amounted to USD 314.27 billion. Tertiary sector makes up 59% of the GDP of the country, followed by industry sector at 25% and agriculture at 7.4%.
Colombia has the fourh largest economy in Latin America. Petroleum is the main export of Colombia representing nearly 50% of total exports. Manufacturing makes up 12% of the county's exports. Colombia also has a rapidly growing IT industry. Shipbuilding industry is also one of the largest in the world. Colombia is the 2nd largest producer of electronics and appliances in Latin America. Electricity production comes primarily from renewable energy sources. Nearly 70% is obtained from hydroelectric generation.
In terms of foreign trade the largest exports of the country are mineral fuels, oils, gold, coal, distillation products, fruit, agricultural products, coffee, sugars, confectionery, food produts, palm oil, plastics, precious stones, metals, forest products, chemical goods, pharmaceuticals, perfumery and cosmetics, machinery, textile and fabrics, clothing and footwear, glass and glassware, furniture, construction equipment.
Imports of Colombia consist of electrical machinery and equipment, cars and vehicles, electric conductors, consumer goods, medicaments.
Primary trading partners of Colombia are Brazil, Ecuador, Panama, Mexico, Peru, the USA, China, India, Italy, Turkey, Spain, France, Japan, Germany.
The GDP of Colombia grew by 10.6% in 2021 and amounted to USD 314.27 billion. Tertiary sector makes up 59% of the GDP of the country, followed by industry sector at 25% and agriculture at 7.4%.
Foreign entrepreneurs expand to Colombia and seek to incorporate a company in Colombia in order to conduct business in the following sectors:
- manufacturing
- agribusiness
- services
- food production
- IT
- healthcare services and life sciences
- energy
- infrastructure projects.
Benefits of registering a company in Colombia
Business climate
- Multiple active free trade agreements: Associate Member of Mercosur, U.S.-Colombia Trade Promotion Agreement, CARICOM, CAN, Colombia-EFTA
- Geographic location of Colombia allows to establish maritime trade with North, Central and South American states, EU states, as well as with Asian states, Australia and New Zealand
- Foreign investment promotion
Tax incentives
- Free trade zones that provide corporate tax incentives
- Double tax treaties with several jurisdictions
Ease of doing business
- Both the company and the bank account can be opened completely remotely
- No minimum share capital requirement for a SAS in Colombia
- No foreign exchange controls
Register your company in Colombia
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