Once a company is established in Colombia, it will be important for you as an investor to follow up on some business obligations in force in Colombia, which are associated with situations in labor law, occupational health and safety, tax situations, among others.
Thus, a big question arises: What situations should I take into account after establishing a company in Colombia?
What are the next steps after having created a company in Colombia?
Having Started a business in Colombia, you must keep in mind that according to the business strategy for which the company was created in Colombia, registration corresponds to:
- Obtaining the RIT and RUT of a legal representative.
- ARL (Labor Risk Management)
- EPS (Health Care System)
- Control situation
- Exchange Forms.
- Record of the control situation that the company may have in Colombia.
What happens with the tax part?
Having started a business in Colombia, it is necessary to apply for tax benefits, so you must consider income benefits, discounts for donations, hiring employees according to the community benefits framework, making mega investments, benefits for donations for scientific and technological development, and tax benefits for donations or investments in film production, creative, and cultural industries, among others.
It is important to review double taxation agreements in order to include this information in the tax plan to follow.
Finally, it is appropriate to have knowledge of the main taxes in Colombia.
What about accounting?
It is important that you consider whether you are going to do the accounting or if you are going to outsource the accounting service. In any case, the first step that we invite you to do is to develop a plan for homologation of accounts and cost centers so that the accounting in Colombia make sense with your parent company or subsidiary where the information is centralized.
On the other hand, there is the validation of tax obligations to be presented, including national obligations as well as municipal obligations, which vary depending on the municipality in which the company is registered, taking into account whether sales are made and/or services are provided in said municipality.
Finally, the implementation of the accounting system that meets its requirements, obtaining the billing resolution, as well as the implementation of the electronic billing modules and supporting documents.
What about payroll?
You should consider carrying out a study of the salary level and benefits, keeping in mind that, after the pandemic, job rotation is a key factor in achieving success in the development of the company.
Another important element is labor advice to protect employment contracts against claim situations.
Likewise, regarding the payroll and its settlement, we invite you to consider validating the aspects regarding social security registration, affiliations, and implementation of occupational health and safety systems, the latter being an obligation for companies, and they must consider the range of employees to comply with the minimum standards, which are subject to the number of employees and level of risk to which collaborators are exposed when carrying out their activities.
If you require advice, our professional team will be ready to answer your questions. Contact us for any business formation in colombia.
Started a business in Colombia | Business formation in Colombia