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How to start a business in Colombia

Know the steps that should be followed for starting an SME in Colombia.

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Published by VISA Empresarial

It often happens that the desire to undertake a business endeavor weakens in the face confusing requirements that must be met in order to incorporate. Misinformation can lead to take initiatives that deviate from the previous conceptual framework that should surround the incorporation time of a company. To avoid having to deal with regrets or problems that may cause unplanned decisions, follow the steps below when establishing a business in Colombia. There may be variables and procedures that may change depending on the city where the business desires to be located.

 

Specification 

The first thing that should have clear is what kind of company you want to be, after this, you must to start the procedures with the different entities. 

 Chamber of Commerce 

  • You must check the availability of the name. 
  • Fill the registration form and tuition. 
  • Fill the application of Annex Tax Identification Number (TIN) to the Directorate of National Taxes and Customs (DIAN). 
  • Pay the registry value and checking of Registration. (Name availability check can be carried out through the Internet pages and checking of www.sic.gov.co - www.ccb.org.co respectively).

Notary

Must perform a deed: The establishment of company must be made before a notary, which issued three copies of the script and the first of them destined for the register of the Chamber of Commerce of the City address society that is created.

DIAN:

  • Sign RUT (Unified Tax Registry).
  • Preparation of NIT (Tax Identification Number).    

In the Ministry of Finance of the local government:

  • Registration of Trade and Industry. 
  • Registration of land use, health and checking of safety policies. 

Legal Framework:

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