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.
SEE ALSO: Steps to Form a Branch in Colombia & SAS Corporation 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 a company does not require a specific number of partners in order to create a SAS in Colombia.
This change propelled entrepreneurs and helped to transform the entrepreneurial landscape of the country by allowing individuals to engage in different activities and business endeavors.
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), create a 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 minimizes the risks of loss, as creditors cannot touch personal assets of the person under this scheme.
Biz Latin Hub can assist you doing business in Latin America
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.
Our portfolio includes accounting & taxation, company formation, due diligence, hiring & PEO, and corporate legal services. Our unrivaled regional presence means we are ideally placed to support multi-jurisdiction market entries and cross-border operations.
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