Step-by-Step Guide on How to Register a Consulting Company in Colombia 

• Understanding how to register a consulting company in Colombia is a significant topic for entrepreneurs and professionals who wish to explore one of the fastest growing markets in Latin America. Colombia achieved a consistent trend in the registration of new businesses since 2022, reporting over 81,800 registered companies in the year 2022, almost 4% increase from 78,400 companies registered in the year 2021. This is an optimistic sign of growth of the economy and entrepreneurial emphasis on Colombia, and also a positive indicator to consulting companies looking to establish themselves in a rapidly growing market.  

• However, to register a consulting company in Colombia is a systematic legal and administrative procedure that is intended to allow for increased accountability, adherence regulatory measures, and compliance with business ethics. The entrepreneur or professional who wishes to form a company would have to follow several steps with requirements on each step, which requires selecting a business structure, registering the company name at the Chamber of Commerce, getting a Tax Identification Number or NIT among others, as well as other unique government registration procedures.  

• The formalities presently in the registration process can be overwhelming and confusing for many potential business registrations as often a delay may occur if you fail to follow all of the steps properly. Additionally, many entrepreneurs will also counsel the engagement of law trained competently members to avoid delays in the formation of their company and ensure the completion of obligations and deadlines are accounted for.  

• This blog will assess the various stages in the Company registration in Colombia. Our hope is that this provides an easy-to-follow step-by-step process, to help you enter the growing professional services market in Colombia. 

Steps for how to register a consulting company in Colombia 

Step 1: Select your company structure 

• Tetra Consultants can help you choose the right legal form for your consulting practice in Colombia. The most common structures are Simplified Stock Company (SA.S), Limited Liability Company (Ltda)., Corp. (S.A.) or branch of a foreign company. They each have their own implications for liability, taxation, and governance meaning you need expertise to ensure your decision is in line with your business vision and operational requirements. 

Step 2: Select and reserve your business name 

• When you have chosen your corporate structure, Tetra Consultants will verify the existence of your desired company name with the Colombian Chamber of Commerce (Confecámaras). We will also verify whether the name meets local naming requirements and protect it from being duplicated or conflicted. This is an important element for trademark protection and brand identification. 

• Additionally, we will also work towards protecting your brand name through our international trademark registration services. 

Step 3: Gather necessary documents 

• Tetra Consultant will assist you to prepare and compile all the required documents including: 

• Memorandum of Association (MOA) stating the approach of the company Governance of Bank 

• Form for Application for Registration of a Firm  

• Passports or ID cards of the directors, shareholders and UBOs. 

• Evidence of a physical address and proof that a capital contribution has been made at outset 

• We also provide drafting legal services to make certain that these documents are in compliance with Colombian Law and are unlikely to lead to any issues in the future. 

Step 4: Choose company officers and shareholders 

• You will need to pick company officers (directors) and shareholders based on your chosen legal structure. Tetra Consultants can offer nominee director and shareholder services if you do not have local representatives. This is a good idea to help local operations run and stay compliant. 

Step 5: Submit company registration application 

• Tetra Consultants will give your full application to the Colombian Chamber of Commerce. We will handle all the paperwork, make sure everything follows local rules keep an eye on how your application is doing, and answer any questions from the authorities. We will keep you in the loop the whole time. 

Step 6: Sign up for taxes and get TIN 

• Once your company is registered, Tetra Consultants will help you get your company’s Tax Identification Number (TIN) from the National Tax and Customs Directorate (DIAN). You need this number to comply with taxes, create invoices, and run your business in Colombia. 

Step 7: Get required permits and licenses 

• Your consulting services might need specific trade permits or business licenses. Tetra Consultants will show you how to get all the permits you need from local or industry regulators. This ensures your business runs and avoids fines or holdups. 

Step 8: Corporate bank account opening 

• Tetra Consultants helps you with the corporate bank account opening with a trusted local or international bank. We take care of all paperwork and set up any extra KYC (Know Your Customer) checks through online video calls if needed. This lets you open your account without going to Colombia. This step takes about 4 weeks after you register. 

Step 9: On-going registration 

• After you get your bank account, you will show the final RUT (tax registration document) to the Chamber of Commerce. Tetra Consultants also helps you register company books (for shareholders and minutes) and make sure you follow social security and labor rules. This matters for keeping your business running. 

Conclusion 

• By working with Tetra Consultants to register your consulting company in Colombia, you will benefit from a straightforward, effective, and fully supported experience for incorporating in one of Latin America’s best markets. Colombia has a strategically advantageous location with a growing economy and progressive regulatory reform it is an ideal environment for consulting firms to develop. However, dealing with the legal and administrative environment can be difficult, particularly for foreign investors who are not familiar with Colombian business practice. This is where Tetra Consultants can provide assistance.