Colombia Company Registration Services
With approximately 47 million inhabitants in Colombia, it has become the third largest population in the world and the fourth largest economy in the Latin American region after Brazil, Argentina and Mexico. Did you know that as an investor who establishes a company in Colombia, the location would allow you to access five other major commercial hubs like Bogota, Barranquilla, Medellin, Cartagena and Cali? This gives investors five times more option options of expanding into cross market businesses.
Colombia is also part of the Free Trade Agreements which is has signed alongside Canada, Mexico, US and the EU. Colombia’s location also allows it the advantage of having two major coastlines, which are the Caribbean Sea and the Pacific Ocean. Shipping industries and business which are involved in the import and export industry can greatly benefit by having a base in Colombia because of this reason alone.
And thanks to its improvements in trade, tax and investment freedom, Colombia is now ranked as the 3rd freest economy in comparison to the other 29 South and Central American economies.
Entrepreneurs and investors who register a company in Colombia to begin a business can benefit from its large domestic markets. To get started on a Colombia company registration requires a company to have at least two shareholders and two directors. A resident director is not required for this process.
The Colombia Company Registration Process
The steps that investors seeking to register a company in Colombia would have to take include the following:
- At the Chamber of Commerce – Get registered with the Registry of Commerce and acquire a pre-taxpayer ID.
- At the Family Compensation Fund, Government Learning Services and the Colombian Family Institute – Register with all three of these services for a unified form to self-assess and pay social security and payroll contribution for the employees.
- At the EPS – Register all the business employees for public health coverage.
- At the Social Security Institute – Register both the employer and the employees for the pension with Colpensiones or one of the other recognised private fund.
- At the Administrator of Professional Risks – Register with company with the Administrator of Professional Risks. The investor will be required to submit a form for the company, listing its affiliation and its employees to the administrator of labour risks, private or public which covers workplace injury and professional illness.
- At the Severance Fund – Investors would need to register employees with a severance fund. The company will be required to present a form and that form will need to indicate the employees affiliation to the severance fund, which each employee has the right to freely choose.
The time it takes to incorporate a company in Colombia is approximate six weeks and a physical office space will be required to be registered under the company for the process to be completed.
For more information on Colombia company registration services, contact us to discover what we can do to get your business on the right track to succeeding in Colombia today.