The Republic of Colombia is located in the northwestern region of South America. It shares borders with Brazil, Ecuador, Panama, Peru and Venezuela, and has access to the Caribbean Sea and the Atlantic and Pacific Oceans. The capital of Colombia is Bogotá, which is the largest city and the seat of important institutions.
Colombia is a large economy in Latin America. Oil is Colombia's main export, accounting for nearly 50% of total exports. The manufacturing sector accounts for 12% of the country's exportsColombia's information technology industry is also growing rapidly. The shipbuilding industry is also one of the largest in the world. Colombia is the second largest producer of electronics and appliances in Latin America. Electricity production comes mainly from renewable sources. Nearly 70% comes from hydropower.
An individual or legal entity intending to register a company in Colombia can be a resident or non-resident of Colombia.
Resident or non-resident individuals can be corporate directors in Colombia. However, it must set up a company with a permanent legal representative in Colombia.
When registering a company in Colombia, it is essential to have at least one shareholder if the company is registered as a simplified company. Individual shareholders can become directors of the company at the same time.
In order to establish a company in Colombia or to start a business in the country, it is not necessary to create a substance (resident employee, office space) in Colombia.
There is no minimum share capital for simplified company setup in Colombia.
After the registration of a Colombian company, the details of the founders, shareholders and directors of the company are published in the National Company Register.
It is possible to register a Colombian company remotely and open a corporate account on the basis of a power of attorney.