According to Colombian law, there are different nationality requirements depending on the type of business.
The Colombia simplified limited company (SAS) the director and shareholder can be of any nationality and can reside in any country. A US$1 minimum paid-up share capital is also required to complete the incorporation process.
The Colombia limited liability company (Ltda.) requires at least two shareholders who can either be individuals or corporate bodies when being incorporated. A Ltda. must also appoint at least 2 directors or any nationality and who do not need to be residents in Colombia. A Colombian permanent resident must also be appointed as the company’s legal representative in Colombia.
The Colombia public limited company (SA) this requires at least 5 shareholders who can either be individuals or corporate bodies to be incorporated. This type of company must also appoint at least 6 directors who can be of any nationality and must not be resident in Colombia. They must appoint at least one Colombia permanent resident as the legal representative of the company. To incorporate an SA at least 33% of the proposed company’s capital must be paid in at incorporation.
The Colombia branch the Colombian Commercial Code stipulates that foreign companies looking to establish legal activities in Colombia to open branches in Colombia, which is defined by a parent company. The branch must appoint at least 1 Colombian permanent resident, of any nationality, to act as the company’s legal representative in Colombia.
The Colombia representative office is not considered a legal entity and is not allowed to conduct any profit-making activities in Colombia. A representative must appoint at least one legal representative who must be a Colombian resident, and is the only authority to carry out promotional activities and market products and services of the parent company within Colombia.
For information on visa requirements and application procedures for foreigners working in Colombia, please look here and here.
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