This is a common question that many people ask themselves when starting a business in the country.
While the answer to this question varies depending on a number of factors, here is a rough guide to the costs you can expect when starting a business in Colombia.
Types of Companies in Colombia
First of all, you should know that in Colombia, it is possible to create different types of companies, among them, Corporations (S.A.), Limited Liability Companies (Ltda.), Simplified Joint Stock Companies (S.A.S.), Sole Proprietorships, among others. Creation costs vary according to the type of company you want to create.
Limited Partnership
To create a limited liability company in Colombia, the costs vary according to the capital you wish to invest. The minimum cost for the creation of a limited liability company is approximately 2.5 million Colombian pesos. This amount includes the costs of registration with the Chamber of Commerce, attorneys’ fees, and other administrative expenses.
Limited Liability Company
In the case of a corporation, start-up costs may be higher due to the higher minimum investment required. To create an S.A., a minimum capital of 50 million Colombian pesos is required. In addition, legal fees and registration costs are also higher compared to the creation of a limited partnership.
Simplified Joint Stock Company
To create a Simplified Joint Stock Company S.A.S. in Colombia involves different costs that must be considered by entrepreneurs. These costs include legal formalities, preparation of bylaws and registration with the Chamber of Commerce. In addition, it is also necessary to take into account the incorporation expenses, such as legal and notary fees.
On average, the total cost of creating a SAS company in Colombia can range from 2 to 5 million Colombian pesos. It is important to keep in mind that costs may vary depending on the size of the company and the services required.
Sole Proprietorship
Another type of company you can consider is the Sole Proprietorship. This is an attractive option for those who wish to create a business on their own, since it does not require a minimum capital for its creation.
However, you should keep in mind that registration and other administrative costs may vary depending on the city in which you wish to establish your company.
In addition to start-up costs, you should consider other expenses that may arise when setting up your business.
For example, you should consider renting premises, paying taxes, hiring employees, and other operating expenses that may arise when running your business.
In summary, the costs of creating a company in Colombia vary according to the type of company you wish to create and the administrative expenses that may arise at the time of establishing your business.
While the costs may seem high, it is important to remember that an investment in your own business can bring great rewards in the long run.
In conclusion, if you are interested in creating a company in Colombia, it is important that you are well informed about the costs and legal requirements to establish your business.