10 Pasos para CREAR una EMPRESA en COLOMBIA de manera LEGAL

How to Create a Business in Colombia: 10 Essential Steps

Introduction to Business Creation

• The speaker introduces herself as a public accountant and digital entrepreneurship consultant, emphasizing her role in helping with accounting issues.

• She outlines the four key entities involved in starting a business in Colombia: DIAN (tax authority), Chamber of Commerce, Secretary of Finance (municipal processes), and banking institutions.

Understanding Legal Structures

• Clarifies the difference between starting a business as a natural person versus a legal entity, highlighting the necessity of registration with the Chamber of Commerce.

• Discusses how tax responsibilities differ based on whether one is registered as an individual or corporation.

Branding and Naming Considerations

• Emphasizes the importance of branding, including corporate colors and name selection for businesses.

• Introduces "homonimia," which ensures that chosen business names are not identical to existing ones; suggests using www.root.com for name availability checks.

Identifying Economic Activities

• Stresses the need to define economic activities and codes related to what services or products will be offered, impacting identification by authorities and tax obligations.

• Mentions updates in economic activity codes relevant for new digital enterprises, encouraging consultation with accountants for proper classification.

Drafting Statutes

• Defines statutes as essential rules governing company operations; they set boundaries for how the business functions legally.

• Warns against using generic templates found online without professional guidance, which can lead to errors during registration.

Registration Process

• Highlights the importance of having professional support when drafting statutes to ensure compliance with legal requirements.

• Discusses submitting the unique business registration form (RUE) to the Chamber of Commerce for evaluation before proceeding further.

Importance of Mercantile Registration

• Describes mercantile registration as crucial for officially establishing oneself as a merchant or service provider; this step incurs taxes based on declared capital.

How to Create a Business in Colombia

Analyzing Societal Needs and Opening a Bank Account

• To start, it's essential to analyze societal needs. When opening a business account at a bank, specific documents are required, including the previously mentioned "perro," a commercial registry certificate obtained after registration, legal representative's copy, and the application form.

• Once the business account is opened, you will receive a certificate confirming that your business account is active. This step is crucial as it allows you to obtain your definitive RUT (Tax Identification Number).

Important Documentation for Businesses

• In addition to the RUT, businesses must maintain two critical books: the shareholders' book and the minutes book. The shareholders' book records all share transactions while the minutes book documents significant events within the company.

• The minutes book captures important occurrences such as appointing new legal representatives or any substantial changes in operations.

Compliance with Local Authorities

• It's vital to register with local authorities like the Secretary of Finance for industry and commerce licenses since different activities require specific permits based on their nature.

• Additionally, health and safety licenses are necessary for compliance. As entrepreneurs often hire employees, understanding social security systems becomes essential for managing obligations when hiring staff.

Electronic Invoicing Obligations

• Companies must now comply with electronic invoicing regulations. Previously required to issue invoices manually, businesses must now implement electronic invoicing processes using appropriate software solutions.

• This shift necessitates understanding how electronic invoicing works; resources are available for further learning about this topic.

Payroll Management Requirements

• When hiring employees under labor contracts—regardless of whether it's just one person—businesses must generate an electronic payroll report submitted to DIAN within ten days each month detailing employee information.

• It’s important to differentiate between payroll generation and payroll liquidation; additional resources can clarify these differences further.

Final Steps in Business Creation

• These steps outline key administrative tasks associated with starting a business in Colombia. Additional documentation may include financial statements reflecting assets and liabilities at startup.

• For unique cases involving foreign investment or other specific queries, consulting professionals specializing in business creation can provide tailored guidance throughout this process.