From the incorporation of a new company/branch, the ongoing compliance with local and international legislation requirements, to the restructuring of your global businesses, it is of vital importance that you have a local Colombia partner to assist in ensuring the good standing of all your legal entities in accordance with local and international legislation.
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Outsource: Challenges of Corporate Entity Compliance in Colombia?
The introduction of International Financial Reports Standards in Colombia and new local regulation and ongoing changes in the legal environment brought about an unprecedented need for companies to implement rigorous internal controls and ensure effective management of legal entities on a global and local basis. This has become one of the major challenges facing multinational corporations.
Country Managers must know and understand the changing of legislative requirements governing the administration of their company and keeping up to date.
Setting up operations in a new country such as Colombia is a big challenge in regards to learning new tax regulations, adapting to a new business culture and hiring the right staff. It can be time-consuming and complicated, especially when considering language and cultural barriers.
For this reason, it is of vital importance to work with a trusted local partner to ensure that your company meets all local and international requirements.
Biz Latin Hub has a team of legal experts that have extensive experience in corporate housekeeping, contract management and drafting shareholder and board resolutions. With our network of offices in Latin America, we’re able to offer our corporate administrative services in all key Latin American jurisdictions.
Advantages of an Outsourced Company Secretarial Compliance Services?
A local Colombia partner will reduce administrative burdens, costs and minimizes risk for their clients. Proffesional administrative and secretarial services include:
- Maintaining electronic copies of the statutory registers and records
- Maintaining hard copies of the statutory books and records
- Annual accounts approval and filing process
- Drafting documents for annual general meetings
- Managing board meetings and circulating briefing documents
- Ensuring all statutory returns and fees are submitted
- Drafting corporate documents and agreements
- Corresponding with local authorities
Corporate Secretarial Services Support in Colombia
Our team have many years of experience providing advice and support to companies undertaking company secretarial duties in a wide range of industries. We have the resources and expertise to assist with all types of company secretarial projects, including:
- Compliance audits and statutory book reviews
- Company incorporations, name changes and re-registrations
- Changes to a company’s constitution, directors and secretary and share capital
- Group company restructuring and re-organization
- Administration of shareholder registers
- Registering company offices (‘domicilio fiscal’)
One of our core values is that we can offer international entity management service; allowing your company to stay compliant across multiple jurisdictions in Latin America through a single point of coordination and a dedicated service delivery manager instead of contracting multiples companies for each country that your company operate in Latin America.
Do business in Colombia with Biz Latin Hub
It’s important for entrepreneurs and investors to know their rights, responsibilities and obligations under Colombian law in order to make the most of this exciting commercial environment. Though opportunities are many and various in the country, you’ll first need to take all necessary steps to incorporate your company and comply with commercial, taxation, visa, and other regulations.
At Biz Latin Hub, our team of local and expatriate experts in Colombia have the depth of experience and knowledge needed to ensure you can start commercial operations as quickly as possible. We offer a full suite of market entry and back-office services that are customized to your business needs. We’ll ensure your business is compliant with local law every step of the way.
Reach out to us today here at Biz Latin Hub for advice on how we can enable you to do business in Colombia.
Learn more about our team and expert authors.
Watch the following video to learn more about with you should invest in Colombia.