Steps and Requirements to Create a Company in Colombia

7 minutos de lectura

Did you know that you can be your own boss?

We have always been working for other people, giving our time, our dedication, our life. But and… your dreams? Where do you leave them?

Have you ever stopped to think that for the company where you work to exist, someone first thought about it and made that little thought a reality?

This article is for those looking for a way out of their frustrations, and for those who DEFINITELY decided to quit that job they didn’t like. What is your case?

Remember that you are the size of your thoughtsIf you are reading this because you want to become an entrepreneur, then you are on the right track, because our goal is to give you each of the requirements for you to create your own company.

Get the most out of this information …

First, what kind of company do you want?

That’s right, the first thing you should do is ask yourself what kind of company is the one that fits to the parameters of what you want to do. So that you know them we have made the following list:

Types of companies according to their legal form:

  • One-person: These are those companies that belong to a single individual or to one person (as described by its name). In this type of company, said person is the one who is under the responsibility of taking the unlimited front of their assets to those individuals who in some way may be harmed by the actions of said company.
  • Collective society: In the case of the collective society, the property belongs to more than one person. The partners must respond in an unlimited manner with their assets.
  • Cooperatives: They are companies that seek to achieve benefits for the members and it is non-profit. These are made up mostly of consumers, workers or producers.

  • Limited: Companies where there are two types of partners: The general partners who participate in the management of the company and have unlimited liability. And there are the limited partners, these generally do not participate in the management and their responsibility is governed by the capital contributed.
  • Limited liability company (SRL): These are companies where the partners only respond with the capital they contributed to the company and not with the staff.
  • Anonymous society (SA): these companies have limited liability to the assets contributed and their owners are those who participate in the capital stock through shares or titles.

Types of companies according to their size:

  • Micro-enterprise: They are those that have up to 10 workers and are generally individually owned, their owner usually works in it and their turnover is rather low. Their products are usually handmade.
  • Small companies: Its activity is not capital intensive and its financial resources they are limited. They generally have between 11 and 49 workers, have as objective being profitable and independent, they do not have a high specialization in the work.
  • Medium businesses: They have between 50 and 260 workers, the tasks performed and responsibilities are usually delimited. They have a union.
  • Big enterprises: They have more than 250 workers, generally have their own facilities, their sales are very high and their workers are unionized. In this type of company, its workers have the possibility of opting for loans and bonuses.

According to the activity: This point is governed by sectors.

  • Primary sector: Characterized by using the elements of nature to carry out their tasks, such as water, oil, minerals …
  • Secondary sector: They are the companies that transform the raw material through some procedure.
  • Third sector: They are characterized by bringing human capacity to the level of requirement of the activity. They perform physical and intellectual tasks, they are their main element.

Also according to the origin of the capital:

  • Public: Are those supported by the capital of the State, both municipal, provincial and national.
  • Private: The capital that maintains it comes from individuals.
  • Mixed: When the capital comes from both: The State as from individuals.

Name availability

This point is important, since it depends on whether your company name registration process will be Fast or slow. !NO! use names that phonetically resemble another company, the procedure will be more difficult. (Below we will give you some tips so that you can create the ideal name).

Once you have the perfect name that you like and that suits you, go to the Mercantile Registry offices. This is where you will register your company.

The Perfect Name must convey EVERYTHING the next:

Clarity: Less is more, do not mix messages.

Descriptive: It should lead you directly to thinking about the product.

Memorable: That it be able to stay in the mind.

Short: It will be easier to remember.

Simple: Don’t make it difficult for clients. The style is added by you.

Modernity: Oh yeah! do not stay behind.

Unique: Nothing more boring than a copy.

Attractive: Connect with the specific audience.

Durable: More than your own name.

Requirements to create a company

Collect the following list of documents so that you can create your company:

An important requirement is the correct motivation. Then comes the rest.

  • Company statutes
  • PRE-RUT
  • The identity card of the legal representative and that of his alternate.
  • Registration in the Registry.
  • Open a bank account.
  • The RUT
  • In DIAN, a billing resolution must be requested, in principle manual. Without invoices it is possible to contract, but services cannot be charged.
  • Registration of Books in the Chamber of Commerce
  • Register the company in the Social Security system

Register the company

Creating a company in this country has gradually become a simple and inexpensive procedure. This is in regards to the creation of the company. To Register it, you must follow the following steps:

  1. It is important that you know if you are a natural person or a legal person: The natural person is one who carries out his activity in a personal capacity, that is, he assumes all the rights and obligations of the commercial activity.
  2. The legal person is the one who represents an entity as a fictitious person, assumes rights and actions, and can be represented in a judicial or extrajudicial manner.
  3. Once the person it belongs to is identified (normally an independent worker is a natural person), you should contact the Chamber and Commerce to confirm that the name you want for your business is available for registration.
  4. If the name is accepted, you will be able to process the Commercial Registration Form and the NIT application.
  5. Pay the Commercial Registry Registration fees, submit the legal tax requirements and contact DIAN. Here, they will allow you to officially process the RUT, they will assign you the NIT and you will know the operating requirements of your company.
  6. At this point your company already has a name and ID, it already exists!
  7. In the Ministry of Finance you must process the Industry and Commerce Registry, the Land Use Certificate and process the health and security licenses.
  8. When everything has been approved, you will be able to own your finances, company and future.

If you are a legal person:

  1. The company must be registered in the Social Security system in order to hire employees.
  2. This article seems more complex than it really is, it is about procedures that are constantly accompanied by officials from both DIAN and the Chamber of Commerce, which facilitates the completion of procedures.

What is the cost of starting a business?

The values ​​are proportional to the initial amount of creation capital.

What Very few entrepreneurs consider is what comes after that, which not only includes the cost of maintenance and support (what is known as fixed costs) but also other tax commitments that come in the future.

DESCRIPTION

ENTITY

VALUE

Society Constitution

Chamber of Commerce

$ 34,000

Registration tax (With amount)

Chamber of Commerce

$ 70,000

Legal person registration

Chamber of Commerce

$ 131,000

Commercial registration form

Chamber of Commerce

$ 4,500

Book registration

Chamber of Commerce

$ 12,000

TOTAL

$ 251,500

How long can the creation process take?

This article seems more complex than it really is, it is about procedures that are constantly accompanied by officials from both DIAN and the Chamber of Commerce, which facilitates the completion of procedures.

The creation of companies in the country does not present great challenges.

However, their management, due to the large number of formal obligations related to information and taxes, creates a barrier that has not been overcome to ensure that the self-employed or entrepreneurs structure their operations, large or small, from commercial companies, stay informed and avoid penalties.

AND GOOD. We hope you can take advantage of our words and recommendations …

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