Latin American countries are in a constant battle to attract Foreign Direct Investment and Colombia has not been an exception being considered as an investment hub nowadays. Incentives such as 1429 law, which gave tax benefits in the first 5 years of operation, the attractiveness of the SAS type business entity, among others, have strengthened foreign investments.
Doing Business Ranking: According to the latest Doing Business Report from the World Bank, Colombia is the best place to do business in Latin America. Worldwide the economy was ranked 34th out of 189.
Colombia as a gateway: There is easy access to global markets thanks to Colombia’s privileged geographical location and developed logistics. Also, due to its thirteen trade agreements, it provides a gateway for companies to expand into Central and South American states.
Profitable business sectors: Colombia has been characterized as one of the most preferable county in sectors such as: agricultural products, automotive parts and supplies, building materials and services, education and training services, electrical power equipment, franchising, medical & dental devices/equipment, mining industry equipment, oil & gas machinery and services, among others.
Set up and operate your business in Colombia
TMF Group has local experts in Bogotá and Barranquilla providing financial, legal, HR and payroll services across Colombia.
We manage the legal set-up according to local procedures. The most common types of business entities when entering the Colombian market are:
- Simplified Stock Company (Sociedad Anónima Simplificada, SAS)
- Limited Liability Company (Compañía Limitada Ltda.)
- Stock Company (Sociedad Anonima, SA)
- Branch (Sucursal)
Accounting and tax: We take care of local statutory bookkeeping, full consolidated accounts and reporting, and file your taxes according to local legislation.
HR and payroll: We help you to hire the right people, apply and implement international policies in employment contracts and handbooks, inscribe your company and employees to social security system and stay compliant with local law.
Domiciliation and Power of Attorney (PoA): If you need a registered address, we can provide you with one, as well as act on your behalf for specific administrative procedures.
Legal administrative services: We help you stay compliant, manage your risk and stay on the right side of regulators and filing requirements.
Are you planning to expand to Colombia? Make us an enquiry on how we can help you with your incorporation and compliance operations.