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Colombia

Legal form:

LLC, Inc., Corp.

Delivery:

6 weeks

Price: $

1500

Payment methods:

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Requirements:

Document checklist:

Local legal address (Handled by B2B Hub) 

1.Passport
2.Proof of Residence 

Registrar

Organization name

Abbreviation

Country

Colombia

Email

Phone

Listing
Open website
UK comapny formation (1).webp

About

Colombia

Capital
Official languages
Population 
Currency

ISO 4217

Bogotá

Spanish

50,882,894 (as of July 2020)

Colombian Peso

COP

FAQ



Q: What is the process for forming a company in Colombia?

A: The process for forming a company in Colombia involves obtaining approval for your company name, drafting and signing the company's bylaws, registering your business with the Chamber of Commerce, obtaining a tax ID number from the National Tax Authority, and obtaining any necessary licenses or permits for your business activities.


Q: What are the different types of companies I can form in Colombia?

A: The most common types of companies in Colombia are Sociedad Anónima (SA), Sociedad de Responsabilidad Limitada (SRL), and Simplified Stock Corporation (SAS).


Q: What is a Sociedad Anónima (SA)?

A: A Sociedad Anónima (SA) is a type of corporation that is owned by shareholders who have limited liability for the company's debts. SAs are often used for larger businesses that plan to issue public stock.


Q: What is a Sociedad de Responsabilidad Limitada (SRL)?

A: A Sociedad de Responsabilidad Limitada (SRL) is a type of limited liability company that is owned by partners who have limited liability for the company's debts. SRLs are often used for smaller businesses.


Q: What is a Simplified Stock Corporation (SAS)?

A: A Simplified Stock Corporation (SAS) is a type of corporation that combines elements of both SAs and SRLs. SAS companies have a simpler legal structure and fewer formal requirements for their formation and operation, making them popular among smaller businesses and startups.


Q: What are the minimum requirements for company formation in Colombia?

A: The minimum requirements for company formation in Colombia include having at least two shareholders or partners, a registered office address, and a minimum capital contribution, which varies depending on the type of company you are forming.


Q: How long does it take to form a company in Colombia?

A: The time it takes to form a company in Colombia can vary depending on the type of company you are forming and the specific requirements involved. Generally, it can take between one to two weeks to complete the entire registration process.


Q: What are the tax implications of forming a company in Colombia?

A: Companies in Colombia are subject to a range of taxes, including corporate income tax, value-added tax, and social security contributions. The specific tax obligations will depend on the type of company you are forming and the nature of your business activities.


Q: What are the ongoing compliance requirements for companies in Colombia?

A: Companies in Colombia are subject to a range of ongoing compliance requirements, including filing annual tax returns, maintaining proper accounting records, and renewing their business registration and other permits as required. It is important to work with a qualified professional to ensure that you remain compliant with all applicable laws and regulations.

Economy

"Colombia's economy has been steadily growing over the past few years. According to the World Bank, the country's GDP grew by 2.7% in 2019, and is projected to grow by 3.2% in 2020. The country's inflation rate has also been relatively low, averaging 3.3% in 2019. Colombia's unemployment rate has also been decreasing, dropping from 9.7% in 2018 to 8.7% in 2019.

The country has also seen an increase in foreign investment, with the World Bank reporting that foreign direct investment (FDI) inflows to Colombia increased by 8.3% in 2019. This was largely driven by increased investment in the country's oil and gas sector.

Overall, Colombia's economy has been performing well, with steady growth and low inflation. The country has also seen an increase in foreign investment, which is likely to continue in the coming years."

Taxation

In Colombia, both individuals and corporations are subject to income tax.


For individuals, income tax rates are progressive, ranging from 0% to 39%, depending on the income level. The tax year runs from January 1st to December 31st of each year, and tax returns are typically due by the end of July of the following year.


In addition to income tax, individuals in Colombia may also be subject to other taxes such as value-added tax (VAT), which is currently 19%, and wealth tax for those with a net worth above a certain threshold.


For corporations, the standard income tax rate is 32%, with certain industries and activities being eligible for tax incentives and deductions. The tax year for corporations also runs from January 1st to December 31st of each year, with tax returns typically due by the end of March of the following year.


Colombia also has a number of other taxes that may be applicable to corporations, such as the industry and commerce tax, the financial transactions tax, and the consumption tax.


Payment of taxes can be made through various channels, such as online, through banks, or at designated payment centers. Failure to pay taxes on time can result in penalties, interest charges, and other legal consequences.


Overall, Colombia has a well-established tax system with a clear set of regulations and guidelines. Taxpayers are encouraged to consult with local tax advisors or government authorities for further information on tax obligations and requirements.

Company incorporation application form

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Main business activity

Legal address of director

Extra services

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