Colombia: Operating a Business

Setting Up a Company

Types of Companies and Capital (Max/Min)	Number of Partners/Shareholders and Liability
Sociedad de Responsabilidad Limitada (SRL) is a limited liability company. no minimum capital.	Minimum of 5 partners Their liability is limited to the amount of their investment.
Sociedad Anonima is a limited company. no minimum capital. PLEASE NOTE: it must be purchased at 50% and at least 1/3 of the value of each share must be paid. The remaining 2/3 must be turned over the following year.	Minimum of 5 partners. Their liability is limited to the amount of their investment.
The Sociedad en acciones por comandita (SCA) is a partnership limited by shares. no minimum capital.	Two partners minimum: a general partnert and a silent one. The liability of the general partner is unlimited. The responsibility of silent partners is limited to the amount of their investment.
Sociedad en Comandita Simple (SCS) is a limited partnership. no minimum capital.	Two partners minimum: a general partnert and a silent one. The liability of the general partner is unlimited. The responsibility of silent partners is limited to the amount of their investment.

The Competent Organization: Companies are registered at their local Chambers of Commerce, for more information visit the website of the Confederation of the Chambers of Commerce of Colombia.
Search a Company or a Financial Report: SIREM, Information and Business Risk System

Source: Doing Business.

Business Setup Procedures: Consult Doing Business Website, to know about procedures to start a Business in Colombia.
Register of commerce, Chamber of commerce.

Legal Weekly Duration: Working hours are limited to 48 hours per week spread over a maximum period of six days a week. With authorization granted by the Ministry of Social Welfare, an employee can work up to 12 hours of overtime per week. Employees in managerial positions are not subject to such restrictions.
Retirement Age: The retirement age is 60 for men and 55 for women, or after a minimum of 1050 weeks of work.
Working Contracts: All types of contracts stipulated by the Ministry of Social Protection are described here.

Minimum Wage: 433,700 COP (187 USD)
Average Wage: Average monthly gross earnings in Colombia is COP 675,211 (USD 310).
Social contributions: Social Security Contributions Paid By Employers: 27%.
Social Security Contributions Paid By Employees: 7.38%

Social Dialogue and Involvement of Social Partners: In accordance with Colombian labor legislation, any group of 25 workers or more, regardless of whether they are employed by the same company or not, can form a union. Employees of companies with fewer than 25 employees can join other unions. There is not a strong culture of unionization in Colombia.

The main unions are the CUT (Unified Congress of Workers), the CTC (Congress of Workers of Colombia), UTC (Union of Workers of Colombia) and the CGT (General Congress of Workers). They are mostly comprised of public employees, especially from the country's petroleum industry and the education sector. The constitution protects the right to form unions and unionized workers have specific legal protection that prevent them from being fired because of their union activity. Strikes in the essential public service sectors, such as the central bank and other activities related to the public health system, are illegal.

About 10% of the country's formal labor is unionized.
Unions: Unified Congress of Workers of Colombia
Unionization Rate: 10% (of the formal sector)
Labor Regulation Bodies: Confederation of Employers
Ministry of Social Protection

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