Business accounts: Colombia

Updated 5 October 2026

An honest assessment before work starts, the quote is fixed in writing.

A company account in Colombia is opened at a Colombian bank, which works with companies registered in the country. The most common form for a foreign founder is the simplified stock company: it is registered with the chamber of commerce, and the tax number is issued by the Colombian tax authority. Under Law 1258 of 2008 such a company can be formed by a single founder, an individual or a company, with articles in a simple private document, no notary needed, entered in the commercial register of the chamber where the company is based. Without a tax number and a chamber of commerce certificate the bank will not accept the application.

A Colombian specific: registering foreign investment

Money a foreign founder contributes to a Colombian company's capital goes through a bank or another foreign exchange intermediary, and under the rules of Banco de la República the investment is registered automatically when the transaction details are submitted. Correct registration decides whether you can later lawfully pay out dividends and repatriate capital, so the first contribution is arranged with the bank rather than sent as an ordinary payment.

What documents the bank asks for

• A certificate of existence and legal representation from the chamber of commerce, usually no older than 30 days.
• The company's tax number.
• The articles and details of shareholders and beneficial owners.
• The legal representative's passport and immigration document.
• A description of the business, expected turnover and payment countries.
• Proof of shareholders' source of funds.

Documents issued abroad are apostilled and translated into Spanish by an official translator.

Taxes the bank will look at

• Corporate income tax: 35% for Colombian companies since 2022, according to the tax authority.
• Financial transactions tax: COP 4 per COP 1,000 debited from the account, or 0.4%, according to the Colombian tax authority. The bank withholds it itself, and it has to be factored into payments to suppliers.

Deposit protection

Deposits at banks in the state insurance scheme are protected up to COP 50 million per depositor at each bank, about $15,300 at Banco de la República's rate of COP 3,273 per dollar on 5 October 2026, according to the deposit insurance fund.

Foreign currency payments

A Colombian company keeps its books and pays taxes in pesos, while foreign currency payments go through banks and other foreign exchange intermediaries, which report the transactions to Banco de la República. For service exporters this means the bank will ask for a contract and invoice behind incoming payments from abroad, and for an explanation of large currency transfers. Contracts with foreign clients prepared in advance noticeably speed up account operations.

How opening works

1. Company. Chamber of commerce registration and tax number.
2. Choosing a bank. We match a bank in Bogotá, Medellín or another city to the activity and currencies.
3. Compliance file. Documents, business description and source of funds.
4. Meeting the bank. The legal representative usually attends in person.
5. Capital contribution. A transfer from abroad with foreign investment registration.

Why banks refuse

• No tax number, or an outdated chamber of commerce certificate.
• A legal representative without immigration status in Colombia.
• An unclear business or payments to higher-risk countries.
• Capital that arrived without foreign investment registration.

What we do

Murblz specialists register the company and tax number, match a bank, prepare the compliance file and support the bank meeting and the capital contribution with investment registration. The decision always rests with the bank. The fee depends on the bank and the structure; we will quote it after a short consultation.

What we do

• Corporate account - opening assistance

See also

Company formation · Personal account · Investment property · Country taxes · All country programs

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