Colombia: A growing economy

Attractive economy for direct foreign investment

Why Colombia?

Colombia is one of the most attractive economies in Latin America for international markets and foreign investment. However, it presents some challenges in terms of tax, accounting, regulatory and foreign exchange.

As signatory to 13 commercial agreements, Colombia receives preferential access to a market of 1.5 billion consumers for companies investing in the country to access Latin America.

Our core business expertise

TMF Group was established in Colombia in 2006 as a result of the acquisition of the outsourcing service practices of the Big Four. TMF Colombia now has more than 150 professional experts in accounting, tax, payroll, human resources and legal administrative services throughout the country, with more than 150 clients, both domestic and foreign, and companies of all sizes and sectors of the Colombian economy.

TMF Colombia is in charge of all administrative processes from the moment of incorporation and channelling them through a single point of contact. By having a single supplier, companies increase efficiency and could avoid unnecessary costs.

Our full range of services include:

  • Accounting and Tax services: We take care of local statutory bookkeeping, full consolidated accounts and management reporting to relevant local and international standards. We also help you manage your tax and reporting obligations.
  • Global Entity Management services: We provide support at every stage of your business lifecycle. Our multi-disciplinary expertise - in corporate secretarial, regulatory compliance, fiduciary services and more - is your outsourced answer to managing and maintaining entities across borders.
  • HR and Payroll services: We help you to apply and implement international policies in employment contracts and handbooks, and pay your staff in compliance with local law.

In addition to our global portfolio of services* our Colombia office provides extra support for specific local requirements.

SARLAFT implementation

TMF Colombia supports companies doing business in the country to implement the asset laundering and terrorist financing prevention system known as SARLAFT.

According to the provisions of chapter X of the legal basic circular of the Superintendency of Companies, businesses that meet the criteria of assets and economic activity for each sector must implement a system of self-management, including protections against money laundering and financing of drug trafficking. This system is known as SARLAFT. TMF Group can provide support services that analyse your company’s risk of exposure to money laundering or financing of terrorism. We will help to establish a unique risk management system for your company that combines local legislation requirements with the relevant aspects of your business. TMF Group does not act as officer compliance.

Process optimisation

Customers who choose TMF Group as their outsourcing provider require - among others things - to have documented, standardised and controlled processes and procedures that are in line with local requirements, and that facilitate compliance with their corporate objectives.

Aware of this need, TMF Colombia offers process optimisation and control strengthening, incorporating:

  • Analysis, optimisation and documentation of processes and procedures
  • Operational risk management
  • Measurement of work load and sizing of personnel plant

Get in touch to see what we can do for you. 

To find out exactly how we can help you, speak to our experts

We deliver tailored solutions to each precise location that allow you to operate smoothly from day one.

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