Requirements to create a Limited Company in Colombia: Step by step, Benefits and MORE

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The Requirements to create a Limited Company in Colombia are essential to start off on the right foot in the face of Chamber of Commerce. Although, there are colleagues who wish to create a new type of society and for that reason, they decide to create this type of Society. However, it must be consigned with a series of requirements and documents to make the registration process as simple as possible.

Are you interested in creating a Limited Company? Do not wait more!We invite you to read this article and get everything you need to legally register this company. Also, you can find the crucial steps to a successful registration and advice on what it means to have this type of identity.

Requirements to create a Limited Company in Colombia

First, a Limited society It is a company formed by a minimum of two and a maximum of twenty-five partners, who have the objective of developing a commercial activity. Furthermore, this type of society is one of the safest places where natural persons carry out their commercial activities. Similarly, this entity places each of its partners a degree of responsibility with the commercial activity that is carried out.

Requirements to create a Limited Company in Colombia

Certainly, in order to register and / or create this type of society in the Chamber of Commerce of the country, you must comply with the Requirements to create a Limited Company in Colombia. Still don’t know what they are? We tell you each one of them!

  • The Bylaws must be up-to-date at the time of processing
  • The partners must comply with a negative commercial record of the central account of the Corporation. That is, the company must have a private bank account
  • Document certifying the capital contributed to the Company in the banking institution
  • Personal Identification Card of all partners. If you do not have this requirement, the process will be interrupted immediately
  • If one of the partners is a foreigner, they must provide the international investment document

Similarly, for Colombian residents to create a Limited society It is very simple. However, in order to carry out this type of entity, it will be necessary to collect a series of previous documents. Next, we will tell you what they are and how you should present them:

Necessary documents

  • Drafting of the Company Bylaws document.
  • Explain the purpose of the company and its name.
  • The chosen name must be consulted at the Chamber of Commerce to avoid plagiarism.
  • Also, the name must present the initials SL (Limited Company) at the end of the name.
  • Check the Industrial Classification codes, this will be essential for the commercial register.
  • Choose and write down the address where the company will operate.
  • Number of partners.
  • Set the responsibilities and rights of each partner.
  • Choose with caution the presentation of the Company before the Law.
  • Name the different positions that will be in society.
  • Notify the initial capital.
  • The initial capital of the company and how much each member of the Society contributed should be exposed.
  • Build and notify the distribution of benefits for each partner.
  • Check the Statement of Accounts of the Company.
  • Validity of the company.
  • Place the duration of the company.
  • Notify the liquidation plan at the time of its dissolution.
  • Remember! If you meet all these requirements to create a Limited Company in Colombia and you have all the requested documents up to date, do not hesitate to create your business.

Step by step to Create a Limited Company in Colombia

Later, when you meet all the Requirements to create a Limited Company in Colombia you must follow the following steps. Above all, we recommend that you follow each one of them precisely and specifically, to prevent your process from being rejected by the country’s Chamber of Commerce.

Registration in Public Notary

  • Process all required documents explained above
  • Notify the notary of the Company of each of the documents consigned
  • Remember! The Statutes must be signed by all partners
  • Each partner must be in advance of what is stipulated and subsequently, in accordance with the statutes

Society recognized by DIAN

Requirements to create a Limited Company in Colombia

  • The legal representative, together with another partner, must contact the National Tax and Customs Directorate (DIAN)
  • Request the RUT of the Company on the official website of DIAN
  • Important! The requested RUT must be presented according to the conditions of the country’s Chamber of Commerce
  • Submit the form requesting the Registration
  • Wait for the evaluation of one of the DIAN workers
  • Check that the document where you specify the creation of the Limited Company does not have any errors
  • Afterwards, the DIAN will assign the created Company a personalized Tax Identification number (NIT)
  • Important! Keep the NIT number, as it is crucial to carry out any commercial operation

Verification by the Chamber of Commerce

  • Create the commercial registration certified by the Chamber of Commerce
  • You must register at the headquarters of the Chamber of Commerce associated with the address of the company
  • Request the RUES (Single Business and Social Registry)
  • The latter must be requested through the web portal of the Chamber of Commerce
  • Once you have it, go to the Central Office of this institution and provide a copy of the form
  • Process your RUT
  • Ready! The Limited Company will be registered and recognized at the legal level

Latest procedures

  • Register a bank account with the financial institution of your choice
  • Said bank account must be in the name of the Limited Company
  • Deposit all associated capital
  • If there is foreign investment, it must be received at the Banco de la República

Commercial register

Now all RRequirements to create a Limited Company are important. But, so is the Registration of the Mercantile Registry. Consequently, this procedure will undoubtedly allow the fibank financing and the intention of bank loans that may have the Limited Company created in the future.


Commercial register

However, to obtain it, you must submit a set of previous documents. Do you want to request the Mercantile Registry of your Company? Read each of the documents you need!

  • Original and Copy of the document that certifies in front of the Public Notary the creation of the Limited Company
  • Documentation about the negative commercial certification of each of the partners (Valid at the time of processing)
  • Settlement of each of the taxes associated with the Transfer of Assets
  • Identity card of each person who paid said taxes
  • Present the NIF associated with the company
Remember! This last requirement is needed obligatorily to proceed with the commercial registry, because it represents the license and registration of workers in Social Security.

What are the benefits of creating a Limited Company in Colombia?

On the other hand, many traders who have the expectation of creating a Limited society they do it with the aim of having Benefits in the future. That is, this type of entity not only assigns responsibilities to each of its partners, but also offers the opportunity to have advantages once the Society.

Profits

Do your coworkers want to create this type of society? Cheer up! Look at all the advantages of having this type of Society.

  • A minimum capital that requires 3,000 euros
  • It can also be considered as a sole proprietorship
  • You should not cancel taxes if your gross income is greater than 40 thousand euros
  • All partners have an approximate 25% of the fixed price
  • If the Companies that work under the sole proprietorship modality, they will only have to pay the progressive taxes
  • The remuneration of the company’s workers can be assigned autonomously
  • Being a Limited Company you can have access to a set of commercial benefits
  • Ease of bank financing
  • Obtain different types of bank loans

You can get this and much more by creating a Limited society! What are you waiting for? Believe it.

What is a Limited Company in Colombia?

A Limited Company in Colombia It is that entity created by a group of people who wish to carry out some type of commercial activity. Likewise, this entity will allow to have benefits for each of its partners and have greater access to bank credit. As well as, it is crucial that in order to process the creation and registration of the Society before the Chamber of Commerce a series of Requirements to create a Company in Colombia.

For this reason, in this article we previously explain each of the steps you must take if you want to create a new one with your colleagues. Limited society. If you complete each of the steps, your request will be completely easy and immediate. In addition, when founding this new type of company, you must record a series of Documents to have a Commercial Registry.

Finally, we want to invite you to read some tips and precautions What to consider if you want to create a Limited society:

  • Verify that all the information in the records are valid and legal
  • Do not make mistakes on the registration sheets. Consequently, you will have to pay additional expenses and unfortunately participate in procedures with a long waiting list
  • Be aware of the expenses that you will have to make in the administrative area, to carry out the Registration of the Limited Company (approximately 3% of the contributed capital)
  • To enroll in the Chamber of Commerce of the country you must pay a tax associated with 0.7% of your associated capital
  • To certify your Commercial Registry you must have between $ 20 – $ 600 depending on the amount and type of your initial capital
  • You must keep your accounting books up to date (It is an expense that you must consider before the creation of your Limited Company)
  • In addition, these books must be registered with the Chamber of Commerce.
  • Registration in front of the Social Registry must be done by one of the main partners
  • If a partner wishes to sell his part of the Limited Partnership, the buyer must be another partner of the entity or a first-level relative of consanguinity
  • The Commercial Registry must be renewed every year
  • The legal representative must be compulsorily Colombian, in the event that the Limited Company specializes in the commercialization of a public service

Sign up, create your Limited Company!

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