Due to the political and economic changes that have been taking place over the past few years in the Colombian market, the quantity of foreign investment has grown rapidly. One of the best ways to form a company in Colombia is to establish a Simplified Shares Corporation, commonly known as an SAS. Here’s how you can create a SAS in Colombia.
Company Formation in Colombia: SAS
The implementation of Law 1258 of 2008 made the SAS possible and facilitated the process of establishing such a corporation by simplifying the procedures previously needed. The main change is that an SAS does not require a specific number of partners in order to form the company. This change propelled entrepreneurs and helped to transform the entrepreneurial landscape of the country by allowing individuals to engage in different activities and business endeavours.
Presently, the SAS model is used by the vast majority of foreign investors who want to establish a small or medium sized business. Unlike other models such as the Anonymous Corporation (SA), the SAS in Colombia does not require the individual to create a board of directors or have a minimum number of associates. In addition, it is not only more flexible and economical but it also minimises the risks of loss, as creditors cannot touch personal assets of the person under this scheme.
At Biz Latin Hub Colombia, we understand the legal structures needed for your company to start operating immediately and we provide all the necessary know-how to help you choose the most suitable business structure according to your needs.
If you want to learn more about forming a company in Colombia, Biz Latin Hub can help. Our group specializes in the provision of Market Entry and Back Office services for investors looking to enter and operate in Latin America. Reach out to Craig here and see how we can asssit your Colombia entry.