Colombia company registration

Yes, but the following conditions must be met:

• Use the standard bylaws template provided by the Chamber of Commerce.
• A valid digital signature certificate is already available.
• All shareholder information is complete and accurate.
• Select standard business scope code

If you use custom bylaws or special terms, it may take 3-5 business days for manual review.

No, but please note the following:

• You can register using your passport number; no visa or residence permit is required.
• A Colombian tax representative (who can be an accountant) must be designated.
• If you need to manage the company yourself, it is recommended to apply for an investor visa (M category).
• Opening a bank account may require at least a tourist visa entry record.

PRE-RUT (Pre-registration):

• Generate immediately for use in the company registration process.
• Valid for 2 months
• Temporary bank accounts can be opened
• Cannot be used for issuing invoices

Formal RUT:

• Activate the company within 48 hours after successful registration.
• Valid indefinitely (requires annual renewal)
• All business activities can be carried out.
• The physical address must be updated within 180 days.

This is a requirement of Colombian anti-money laundering regulations:

• Definition: A natural person who directly or indirectly holds 5% or more of the company's shares.
• Declaration threshold: Shareholders holding 25% or more must submit a detailed declaration.
• Information required: Name, nationality, date of birth, tax ID number
• Update frequency: Any changes must be updated within 30 days.
• Penalties: Failure to declare may result in a fine of up to 200 minimum wage.

It is relatively easier than other Latin American countries, but the following should be noted:

• Major banks: Bancolombia, BBVA, Davivienda
• Foreigners need: RUT + company documents + passport + proof of address
• Some banks require the legal representative to be present in person.
• Initial deposit: typically 5-10 million pesos (US$1,250-2,500)
• Approval time: 5-15 working days

Tip: Bancolombia is the most welcoming to foreign investors; you can open a digital account first.

Yes, this is one of SAS's main advantages:

• If you initially selected the "No Activity Restriction" option, no changes are required.
• To add a specific activity, simply submit it online.
• Change fee: Approximately 300,000 pesos (US$75)
• Effective time: 24-48 hours
• Special industries (finance, insurance, healthcare) require additional licenses.

Yes, a Colombian Certified Public Accountant (Contador Público) must be hired.

• All companies must have their financial statements signed by an accountant.
• Accountants must have a valid professional card (Tarjeta Profesional).
• Monthly service fee: 500,000-2,000,000 pesos (US$125-500)
• The accountant is responsible for tax filing and compliance.
• You can choose an accounting firm or an independent accountant.

The consequences are serious and must be taken seriously:

• Deadline: Must be updated by March 31st each year.
• Grace period: Payment can be made within 30 days of the due date, but a penalty will be imposed.
• Automatic deregistration: If no updates are made within 30 days, the company will be automatically deregistered.
• Recovery process: Re-registration is required; the original company registration cannot be restored.
• Precautions: RUES will send an email reminder in advance.

Cost: Annual renewal fee is approximately 400,000 to 1,000,000 pesos, depending on the company's asset size.