Fees and timelines in 2023
Fees
Incorporation costs in Year 1 amount to US$6,875 and annual company costs in Year 2 and thereafter amount to US$1,060. The average total fee per Colombia engagement amounts to US$13,772, which includes company incorporation and opening a local corporate bank account and all government fees. Refer to draft invoice embedded here.
| Different Colombia entity types | Cost | Draft invoice |
|---|---|---|
| SLC (SAS) | US$13,772 | View invoice PDF |
| LLC | US$13,390 | View invoice PDF |
| PLC | US$15,390 | View invoice PDF |
| Bogota Free Zone | US$16,740 | View invoice PDF |
| Branch office | US$17,200 | View invoice PDF |
| Representative office | US$15,200 | View invoice PDF |
| Fast business setup solution + 6 months tax reporting | US$42,150 | View invoice PDF |
| Fast business setup solution | US$27,740 | View invoice PDF |
| Colombia LLC package | US$31,550 | View invoice PDF |
| Bitcoin LLC | US$30,390 | View invoice PDF |
Click here to create your own Colombia invoice
Timelines
The average Colombia company registration period is 16 weeks as outlined below:
| Service | LLC | PLC | SAS | Branch | Rep Office |
|---|---|---|---|---|---|
| Engagement planning | 2 weeks | 2 weeks | 2 weeks | 2 weeks | 2 weeks |
| Company incorporation period | 6 weeks | 8 weeks | 8 weeks | 7 weeks | 6 weeks |
| Bank account approval | 4 weeks | 5 weeks | 5 weeks | 5 weeks | 5 weeks |
| Internet banking approval | 3 weeks | 2 weeks | 2 weeks | 2 weeks | 2 weeks |
| Incorporation completion | 1 week | 1 week | 1 week | 1 week | 1 week |
| Total engagement period | 16 weeks | 18 weeks | 18 weeks | 17 weeks | 16 weeks |
