Opening a company in Colombia as a foreigner is becoming increasingly common thanks to the country’s economic growth, its strategic location in Latin America, and its openness to international investment. At Jaramillo Law Firm, we assist entrepreneurs, investors, and foreign companies in formalizing their presence in Colombia safely and efficiently.
Below, we explain the key steps to open your company in Colombia if you are not a Colombian citizen.
- Define the Type of Company
The most common and flexible type of company for foreigners is the SAS (Simplified Stock Company). It allows for one or multiple shareholders, does not require a minimum capital, and can be managed by a single person.
Other types of legal entities include:
- A. (Corporation)
- (Limited Liability Company)
- Branch of a Foreign Company
- Obtain the NIT and RUT with the DIAN
The RUT (Single Tax Registry) is the document that identifies the company before the DIAN (Colombian Tax Authority). This process also assigns the NIT (Tax Identification Number).
To obtain it, you will need:
- Copy of the legal representative’s passport
- Company bylaws
- Certificate of incorporation and legal representation
- Register with the Chamber of Commerce
Registration with the local Chamber of Commerce is required to give the company legal existence in Colombia. This step includes:
- Drafting and signing the company bylaws
- Payment of registration fees
- Obtaining the certificate of incorporation
- Open a Corporate Bank Account
Once you have the NIT and the certificate from the Chamber of Commerce, you can open a corporate bank account in Colombia. Some banks may require:
- Legal representative’s identification document
- Onboarding forms
- Financial statements (if applicable)
- Comply with Tax and Labor Obligations
All companies in Colombia must:
- File taxes with the DIAN
- Register for social security if hiring employees
- Issue electronic invoices (if applicable)
Do you need a visa to open a business in Colombia?
You do not need a visa to register a business in Colombia. However, if you wish to manage it from within the country or receive income, it is recommended to have an Investor Visa or Business Visa.
One of the most common ways to obtain a visa in Colombia as a foreigner is by creating a company, as long as the investment requirements established by Migración Colombia are met.