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Colombia

Colombia Flag

Country: Colombia
Region: Americas
Currency: Peso (COP) (COL$)
Languages: Castilian
Time Zone: UTC -5

Phone Code: +57

Communications: Good

Formation Cost: 400 - 600 USD$
Formation Time: 13 - 15 days
Maintenance cost: 100 - 300 USD$

Executive Summary: Colombia is located in northern South America between Panama and Venezuela with coastlines on the Caribbean Sea and the Pacific Ocean. The population is estimated at approximately 46.2m in 2014 and the official language is Spanish. Colombia's sound economic policies and aggressive promotion of free trade agreements in recent years have bolstered its ability to face external shocks. Real GDP has grown more than 4% per year for the past three years, continuing almost a decade of strong economic performance. However, Colombia depends heavily on energy and mining exports and the economic development is stymied by inadequate infrastructure and an uncertain security situation. Inequality, poverty, and narcotic trafficking remain significant challenges. Tax incentives include a special free trade zone with a substantially reduced corporate tax rate.

Suitable for: Insurance, Aviation, Yachting, E-commerce
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Company Purpose Stats:

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Vehicle Types: Limited companies, public limited companies, general partnerships, limited partnerships, branches and sole proprietorships

Capital primary business districts: Bogotá

Good Relationships: Canada, China, India, United States

Bad Relationships: Burma, Cuba, Iran, Korea (Democratic People's Republic of), Libya, Somalia, Sudan, Syria

Tax Burden - Business: Moderate

Tax Burden - Individual: Light

Headline tax rates: CIT 34%, PIT 19%-33%, VAT 16%

Treaty Jurisdictions: Bolivia, Canada, Chile, Ecuador, Mexico, Peru, Spain, Switzerland

TIEA Jurisdictions: Curacao, United States

Information Links:

 

 

 

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