foreign investment in Colombia- Tag Archives - Business News and Updates


Find the latest Legal updates and changes, industry reviews, regulatory updates, expert legal and accounting advice, Q&A with experts, and much more content.

Investment in Colombia to Spike Under $11.5B Plan

Investment in Colombia to Spike Under $11.5B Plan

Investment in Colombia will rise by $11.5 billion (USD) between 2020 and 2022, under a government program that seeks to target key sectors for growth and deepen the engagement of 'mega investors' in the South American nation's market. Colombia is the fourth-largest economy in Latin America by GDP, as well as one of the primary recipients of foreign direct investment (FDI) in the region. According to the United Nations' 2020 World Investment Report, FDI inflows into Colombia increased 26 percent in 2019 compared to the previous year, rising from $11.5 billion (USD) to $14.5 billion (USD). The new "Commitment to Colombia" program seeks to keep that investment on an upward trajectory, despite disruptions caused by the COVID-19 global pandemic. Promoting investment in Colombia Colombia seeks to attract 'mega investors' The new governmental strategy is built upon two pillars: tax incentives for investors, and the optimization of corporate processes. As such, Colombia is offering generous tax incentives to foreign companies willing to relocate from other territories. Meanwhile, the country's authorities are working to simplify the process of company formation in Colombia, to streamline market entry for foreign investors.  The government’s principal goal is to attract 'mega investors,' a term that refers to companies with more than $280 million (USD) in available capital to invest. The government agency in charge of promoting foreign investment in the country -- Procolombia -- has contacted more than 500 companies to offer them the possibility of being part of this...

7 Tips to Understand Business Etiquette in Colombia

7 Tips to Understand Business Etiquette in Colombia

Understanding business etiquette in Colombia is crucial to your commercial activities running smoothly in one of the most dynamic and promising economies in Latin America. Local laws, corporate procedures, language conventions, and cultural differences can pose a challenge for foreign executives looking to enter the Colombian market, so it pays to get clued up on local business customs. So if you are considering starting a business in Colombia or expanding into Latin America's fourth-largest economy by GDP, the following seven tips on business etiquette in Colombia should come in handy. 1. Business etiquette in Colombia requires you to comply with local regulations Dress according to business etiquette in Colombia Without exception, all multinational companies and foreign businesses must comply with Colombian regulations. This is essential to avoid fines and penalties from local authorities that can compromise civil and criminal liability. Understanding corporate laws and business etiquette in Colombia provides you with the necessary tools to face any legal problem or inconvenience that may arise. Certain aspects of the Colombian judicial system can be tricky to navigate, such as when and how you can appeal decisions, or sudden changes in legislation that are approved by the Congress or municipal authorities. For those unfamiliar with Colombian laws and regulations, it is highly recommended that you partner up with a locally based expert to guide you along your commercial journey. 2. Dress accordingly While this might seem obvious, keep in mind that weather affects...

Executive Director ACI Medellín Discusses Foreign Investment in Colombia’s Tech Hub

Executive Director ACI Medellín Discusses Foreign Investment in Colombia’s Tech Hub

Biz Latin Hub's headquarters in Bogotá engaged with ACI Medellín, an agency working in Colombia's technological innovation hotspot to promote Medellín foreign investment activity. Medellín is a vibrant city located in the department of Antioquia, Colombia. ACI Medellín's Executive Director, Catalina Restrepo Carvajal, shares insights on Medellín foreign investment and its position as a leading hub for innovation in Latin America. ACI Medellín's Executive Director, Catalina Restrepo Carvajal, shares insights on Medellín's position as a leading hub for innovation in Latin America, and how they're supporting further Medellín foreign investment. Find out how Medellín foreign investment has developed and why this bustling city is perfectly positioned to support both multinational companies and startups alike, through agencies like ACI Medellín. Tell us about the work that ACI Medellín does to promote foreign investment in Colombia ACI Medellín understands the attraction of foreign investment as a development strategy for the city divided in two. On the one hand, we continuously welcome and conduct visits from investors interested in knowing first-hand the economic development plans of the city. And on the other, we have a proactive strategy to promote Medellín as an ideal destination for Colombia foreign investment. In short, we work to show the city to foreign companies and to promote confidence in the city amongst them.  What is the commercial history of Medellín like, and how has it evolved in recent years? Historically, Antioquia has been a territory with a strong...

Pin It on Pinterest