Colombia

Operating a business

Different types of companies	Number of partners/shareholders	Maximum and/or minimum capital	Liabilities	Registration fees
La Sociedad de Responsabilidad is a Private Limited Company.	Minimum 2 partners. Maximum 20 partners.	No minimum capital.	Liability is limited to the amount contributed.	They vary depending on the amount of the capital subscribed.
La Sociedad Anonima is a Public Limited Company.	Minimum 5 partners.	No minimum capital. NB: 50% must be subscribed and at least 1/3 of the value of each share must be released. The remainder (2/3) must be paid the following year.	Liability is limited to the amount contributed.	They vary depending on the amount of the capital subscribed.
La Sociedad en Commandita por acciones (SCA) is a partnership limited by shares.	Two types of partners: the active partners and the sleeping partners.	No minimum capital.	Liability of active partners is unlimited. Liability of sleeping partners is limited to the amount contributed.	They vary depending on the amount of the capital subscribed.
La Sociedad en commandita simple (SCS) is a limited partnership.	Two types of partners: the active partners and the sleeping partners.	No minimum capital.	Liability of active partners is unlimited. Liability of sleeping partners is limited to the amount contributed.	They vary depending on the amount of the capital subscribed.

Business setup procedures: In order to set up a company in Colombia, first, it is necessary to contact a notary to establish a protocol. Then, the protocol must be registered with the Chamber of Commerce and Industry. A tax identification number, provided by the Colombian customs authorities (NIT), is required as well as a current account in which contributions will be deposited via an international bank. Finally, the investment will be registered with the International Technical Division of the Banco de la Republica.