Colombia
Colombia is one of the world's seventeen megadiverse countries, and has the second-highest level of biodiversity in the world.
Colombia is a member of major global and regional organizations including the United Nations, the WTO, the OECD, the OAS, the Pacific Alliance, the Andean Community, and a NATO Global Partner. Its diversified economy is the third-largest in South America, with macroeconomic stability and favorable long-term growth prospects.
Colombia has different international commercial agreements that allow preferential access to more than 45 countries and approximately 1,500 million consumers around the world.
Colombia is rich in natural resources, and it is heavily dependent on energy and mining exports. Colombia's main exports include mineral fuels, oils, distillation products, fruit and other agricultural products, sugars and sugar confectionery, food products, plastics, precious stones, metals, forest products, chemical goods, pharmaceuticals, vehicles, electronic products, electrical equipment, perfumery and cosmetics, machinery, manufactured articles, textile and fabrics, clothing and footwear, glass and glassware, furniture, prefabricated buildings, military products, home and office material, construction equipment, software, among others. Principal trading partners are the United States, China, the European Union and some Latin American countries.
The Colombian Exchange Regime has the main objective of promoting internationalization of the Colombian economy, stimulating foreign trade and foreign investment, facilitating development of current foreign transactions and providing monetary authorities true and relevant information regarding entry and exit of currency to and from the country.
Like any emerging market economy, doing business in Colombia initially presents some unique legal and tax challenges. However, these challenges can be overcome, and for those with a solid business plan, dedicating the time and resources to establishing a presence in Colombia can be well worth the investment.
Foreign investment comprises all investment of foreign capital, whether direct or portfolio, made in Colombian territory, including Free Trade Zones, by non-residents. A Foreign Capital Investor is any legal or natural person, holder of a direct or portfolio foreign investment.
Foreign investment in Colombia can generally be executed in different ways:
• By transferring foreign currencies through the exchange market, in order to make a direct contribution a company’s equity or to acquire a third party’s rights and/or shares in existing companies.
• In kind, directly through delivery or transfer of tangible or intangible assets, or indirectly by means of the capitalization of a sum in favor of the investor.
• Through funds in local currency obtained from domestic credit transactions entered into with credit establishments, to be used for the acquisition of shares in the public securities market.
All foreign investments in Colombia must be registered before the Colombian Central Bank, as well as Colombian investments abroad.
Only the compensation account holder has the faculty to make foreign exchange operations using the account.Imports and exports are operations that must be channeled through the Colombian foreign exchange market, as well as the foreign investments, external debt operations, guarantees in foreign currency, and derivatives operations.
In Colombia, intellectual property rights are divided into two main categories: Industrial property, which covers new creations (patents), know how (industrial secrets), and slogans; and copyrights, which make reference to the protection granted to artistic, scientific and literary works susceptible of being reproduced or distributed in any form, as well as to rights by artists, performers and producers of audio recordings and owners of copyrights on computer programs.
Colombian laws provide for criminal, commercial and civil sanctions applicable to breaching parties as legal means to protect and call on the enforcement of intellectual property rights.
The Colombian National Constitution provides that the administration of justice in Colombia is the responsibility of the Constitutional Court, the Supreme Court of Justice, the Council of State, the Superior Council of the Judicature, the Prosecutor General of the Nation, the various courts and judges in the various jurisdictions, and the military criminal system.
The jurisdiction in Colombia, according to the Constitution itself, contemplates four jurisdictions, which make up the legal system in Colombia; these are the ordinary jurisdiction, the administrative law jurisdiction, the constitutional jurisdiction and the special jurisdiction.
Our law firm VLO provides legal services for corporate and private clients in Colombia. These services include mergers and acquisitions, business and debt restructuring, tax and tax disputes, corporate disputes, investments, bankruptcy, litigation and arbitration.
If you have questions, please us right now.
E-mail: vlolawfirm@gmail.com
Colombia is a member of major global and regional organizations including the United Nations, the WTO, the OECD, the OAS, the Pacific Alliance, the Andean Community, and a NATO Global Partner. Its diversified economy is the third-largest in South America, with macroeconomic stability and favorable long-term growth prospects.
Colombia has different international commercial agreements that allow preferential access to more than 45 countries and approximately 1,500 million consumers around the world.
Colombia is rich in natural resources, and it is heavily dependent on energy and mining exports. Colombia's main exports include mineral fuels, oils, distillation products, fruit and other agricultural products, sugars and sugar confectionery, food products, plastics, precious stones, metals, forest products, chemical goods, pharmaceuticals, vehicles, electronic products, electrical equipment, perfumery and cosmetics, machinery, manufactured articles, textile and fabrics, clothing and footwear, glass and glassware, furniture, prefabricated buildings, military products, home and office material, construction equipment, software, among others. Principal trading partners are the United States, China, the European Union and some Latin American countries.
The Colombian Exchange Regime has the main objective of promoting internationalization of the Colombian economy, stimulating foreign trade and foreign investment, facilitating development of current foreign transactions and providing monetary authorities true and relevant information regarding entry and exit of currency to and from the country.
Like any emerging market economy, doing business in Colombia initially presents some unique legal and tax challenges. However, these challenges can be overcome, and for those with a solid business plan, dedicating the time and resources to establishing a presence in Colombia can be well worth the investment.
Foreign investment comprises all investment of foreign capital, whether direct or portfolio, made in Colombian territory, including Free Trade Zones, by non-residents. A Foreign Capital Investor is any legal or natural person, holder of a direct or portfolio foreign investment.
Foreign investment in Colombia can generally be executed in different ways:
• By transferring foreign currencies through the exchange market, in order to make a direct contribution a company’s equity or to acquire a third party’s rights and/or shares in existing companies.
• In kind, directly through delivery or transfer of tangible or intangible assets, or indirectly by means of the capitalization of a sum in favor of the investor.
• Through funds in local currency obtained from domestic credit transactions entered into with credit establishments, to be used for the acquisition of shares in the public securities market.
All foreign investments in Colombia must be registered before the Colombian Central Bank, as well as Colombian investments abroad.
Only the compensation account holder has the faculty to make foreign exchange operations using the account.Imports and exports are operations that must be channeled through the Colombian foreign exchange market, as well as the foreign investments, external debt operations, guarantees in foreign currency, and derivatives operations.
In Colombia, intellectual property rights are divided into two main categories: Industrial property, which covers new creations (patents), know how (industrial secrets), and slogans; and copyrights, which make reference to the protection granted to artistic, scientific and literary works susceptible of being reproduced or distributed in any form, as well as to rights by artists, performers and producers of audio recordings and owners of copyrights on computer programs.
Colombian laws provide for criminal, commercial and civil sanctions applicable to breaching parties as legal means to protect and call on the enforcement of intellectual property rights.
The Colombian National Constitution provides that the administration of justice in Colombia is the responsibility of the Constitutional Court, the Supreme Court of Justice, the Council of State, the Superior Council of the Judicature, the Prosecutor General of the Nation, the various courts and judges in the various jurisdictions, and the military criminal system.
The jurisdiction in Colombia, according to the Constitution itself, contemplates four jurisdictions, which make up the legal system in Colombia; these are the ordinary jurisdiction, the administrative law jurisdiction, the constitutional jurisdiction and the special jurisdiction.
Our law firm VLO provides legal services for corporate and private clients in Colombia. These services include mergers and acquisitions, business and debt restructuring, tax and tax disputes, corporate disputes, investments, bankruptcy, litigation and arbitration.
If you have questions, please us right now.
E-mail: vlolawfirm@gmail.com
