To learn about the Requirements to Create a Cooperative in Colombia, you must read this article. Here we will mention the steps to follow.
There are several types of cooperatives, of which we will also talk to you among other information of interest.
Requirements to create a Cooperative in Colombia
In the first phase are the Requirements to Create a Cooperative in Colombia, which we will detail in the next point.
Cooperatives are currently a great option to meet the social, cultural and economic needs of communities. It is estimated that in Colombia there are approximately 3,400 cooperatives.
Of which 181 are dedicated to loans and savings, five are for investment, another two are bank cooperatives and one is for financing.
The exact number of cooperatives that exist is not known. Since the State has presented problems to carry out the corresponding inspections.
There is an institution that bears the name Special Administrative Unit for Solidarity Organizations. Which distributes the procedure to create a cooperative in 5 phases.
Inside the documents or Requirements to Create a Cooperative in Colombia, are the following:
Phase N ° 1: Carry out the preliminary study to create the cooperative
There must be 20 people minimum to form the cooperative. And corroborate that these people have the desire and willingness to participate in this society.
Set the type of association to be created. If it will be a specialized cooperative, focused on a specific activity (cultural, economic or social). Or if it will be a multi-active cooperative, which attends to different needs through the same legal entity.
There are also the integral cooperatives, which carry out different tasks that are optional, and that are united among themselves. These tasks can be to produce, distribute, consume and offer some services.
Organize the training of the members. Legally, the members of a cooperative have to make a basic workshop in solidarity finance. With a minimum duration of 20 hours.
Prepare a draft of rules for the cooperative. Which are discussed in the assembly of partners. This plan should have the following: The proposed name for the cooperative, what type of cooperative it will be. The purpose of the same, and to what extent the cooperative will operate.
Phase N ° 2: Hold the meeting for the creation of the cooperative
Make the call to the partners, set the day, place, time and reason for the assembly. The meeting should discuss the rules and their approval.
Select the president and secretary. Also the supervisory board, the fiscal auditor, the administrative council, and the committees (if they exist).
Additionally, the administrative council has to choose a manager or a legal representative. Create the Constitution Act. In this the date, time and place must be indicated. Also, the number of members present, progress of the tasks according to the day’s agenda.
The agreements agreed at the meeting, the admission of the statutes. The appointment of the control and management bodies, as well as the statutory auditor.
Phase N ° 3: Make the rules of the cooperative
Set the information inherent to the identity of the cooperative. For example: The address, identification and data of the partners who sign.
Enter the name that was given to the association, placing at the end the cooperative title. Detail the type of non-profit organization that is being formed. Also establish the full address of the cooperative.
Place the purpose of the body, detailing the functions that the cooperative will have. Also the time that it will last, or if its duration is indeterminate. It should define what is related to the functions of the partners, in the same way their rights and duties.
Determine what is related to finance employment in the cooperative. Declare the composition of the assets, how contributions will be made, and how payments and returns will be made.
In this phase, it should also be fixed, what is related to the organization and management of the cooperative. The administration of the same, the entities that are going to administer it. Also the functions it will have, its capabilities and limitations.
Which organizations will ensure the safety of the cooperative. The way to choose and replace a member of the administrative entities. Also, set the reasons for dissolving the cooperative.
Regarding the legitimacy of the rules, the written admission of these by the chosen members. The compulsory cooperative instruction certificate. The registration request that has the information of the entity, names, is the identity of the fiscal auditor and the legal representative.
The communication where it is exposed, that the rules in the procedure of creation of the cooperative are obeyed. And finally, the proof of payment of the registration tax.
Phase N ° 4: Registration of the cooperative in the Chamber of Commerce
Have the required documentation, the articles of incorporation and the contributions. As well as the approval of responsibilities. Signed by the president and secretary of the assembly and other members. In addition to the copy of the rules signed by all the members of the cooperative.
Manage the relevant forms. Which are: The unique business form issued by the Chamber of Commerce. Also the extra registration form with other entities and the pre-RUT (Single Tax Registry).
Phase N ° 5: Carry out the proceedings of legal origin before the Superintendency
The required documentation must be gathered. Submit an application signed by the legal representative and the president of the oversight board. This through the formalities format of the corresponding superintendency.
Record articles of incorporation together with the regulations. It must be signed by the president and the secretary of the assembly. Also the certificate of the cooperative education course.
Present the payment certificate for 25% of the first contributions, on behalf of the creator partners. Also, the certificate of the criminal record of the tax auditor.
Deliver the certification of existence and legal representation, issued by the Chamber of Commerce. And the certificate of the legal representative where it corroborates that the tax auditor is not a partner.
All documentation must be scanned and converted into TIFF format. Therefore, save the information on a CD. Then put together the paperwork format with the documentation CD. And present it at the office of the Superintendency of the Solidarity Economy of the community to which the cooperative belongs.
Carry out the corresponding proceedings before the DIAN (National Tax and Customs Directorate). You should not forget that the articles of incorporation and the rules must be made public.
Ask the DIAN for the RUT (Single Tax Registry). The request must be made through the legal representative. Billing permission must also be requested, which must be done by the legal representative.
How does a Cooperative work?
With respect to the operation of a cooperative, it goes according to the obligations that its members have. Which are:
Of the obligations of the partners
There are 2 types of partners, collaborators and work. The former can be public, private or legal persons, and communities of property.
These do not intervene in the activities that make up the corporate purpose. Your contribution cannot exceed 45% of the capital. And the total of your votes cannot be greater than 30%.
The work partners will only be natural persons and will receive as a result of their work, a remuneration not less than the Minimum Interprofessional Salary. These members can also be collaborators, if you finish the tasks you have in the cooperative.
Upon receiving part of the profits of the cooperative, these amounts are adapted to quotas. The which are available for retention and are listed as movable capital gains.
On the other hand, it should be known that the affiliation or disaffiliation of the cooperative they are spontaneous acts. Similarly, all members have the obligation to make contributions to maintain the cooperative. In such a way that they can create a solid heritage, capable of subsidizing their activities.
The cooperative’s tax regime
The cooperative must be created under public deed, through which it obtains legal status. This must be registered in the Cooperative Societies Registry.
The minimum capital will be the one established in the statutes. This must be paid in full from the incorporation. The subject of the statutes will go according to what is stipulated in the Cooperatives Law.
The association must acquire a NIF (Financial Reporting Standards), and record the taxes that are due (withholdings, VAT, etc.). In the same way, the other entities.
On the Corporation Tax they contribute 20%, and can enjoy a bonus of 50% of the dividends. In addition to this, they only pay 5% of the Tax for Economic Activities.
They are released from the Tax on Patrimonial Transmissions and Documented Legal Acts. Or 95% gratuity in the IBI fee (Real Estate Tax).
How many people does it take to create a Cooperative in Colombia?
For form a Cooperative in Colombia, it is necessary to have at least 20 members. They must take a course on solidarity finance.
Advantages of creating a Cooperative in Colombia
The advantages of creating a cooperative are mentioned below:
- With regard to the responsibilities of the partners, it is limited to the capital contribution that they make at the beginning.
- The partners have economic and political rights in the same way. That is, the capital they contributed does not influence when making decisions. Everyone’s opinion counts equally.
- The members of the cooperative can obtain profits based on the capital contribution they made.
- On the other hand, if cooperatives are protected or specially protected, they can enjoy certain benefits. These are: Not paying the Tax on Patrimonial Transmissions. And decreases in local contributions.
- They benefit from themselves, through subsidies.
What is a Cooperative?
A cooperative is the association of a group of people, who have decided to work together to carry out activities that benefit communities.
This company has no profit motive. And the members of the same voluntarily contribute the capital to start their economic operations. Therefore, they carry out the respective procedures for its creation.
Cooperatives play a very important role in the Colombian territory. Since through them, financial inclusion has been implemented with respect to credit and savings.
Nowadays, around 4,500,000 Colombian citizens They are members of this type of cooperative. So it translates as positive economic growth for the country.
Cooperatives have endless benefits for all those groups that wish to be included in this organizational model. If you want to know more about cooperatives in Colombia you can enter here.
At the moment we hope we have given you all the fundamental tools about the Requirements to create a cooperative in Colombia.
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