Colombia free zones in 2024

Bogota free trade zone

1. The Bogotá Free Trade Zone or Zona Franca Bogota is one of the 9 free zones in Colombia and it is i) the most centrally located free zone, still within the city boundaries ii) a total area of 96 hectares (or 237 acres) and iii) 1.5 km from the El Dorado International Airport;
2. Bogota Free Trade Zone offers tax and customs benefits such as i) 20% corporate tax for industrial users of goods and services ii) 0% Social Equity Tax iii) 0% VAT and Duties over imported goods iv) 0% Vat on national goods and v) no customs on the import of the capital assets, machinery, inputs and spare parts;
3. Our Client can start business in the Colombian free zone within 2 months by i) incorporating a limited liability company, ii) opening a bank account iii) submitting a registration application to the Free Zone Authority and iv) renting office/warehouse premises in the free zone;
4. Bogota Free Trade Zone welcomes business activities related to industrial and services such as i) automotive, ii) manufacturing, iii) apparel, iv) cosmetic and pharmaceutical, v) building materials, vi) storage and logistics and vii) outsourcing services: BPO, ITO, KPO, SCC;
5. If our Client and Healy Consultants properly plan this engagement, our Clients will not have to travel to complete the project. Healy Consultants will efficiently, effectively and aggressively complete Colombia free zone company incorporation, Bogota free zone registration and corporate bank account opening in a timely manner without our Client’s presence. Instead, our Client will need to i) sign the necessary documents and have these legalized in the embassy in their country of origin and ii) courier the originals to our office;
6. Find below further information regarding Bogota FTZ:

   Free zone comparison	Bogota FTZ
   FTZs used mostly by which industry?	Please see point 4 above
   Average monthly warehousing space rent per 1000 sqm	US$3,000
   How long to set the company up?	4 weeks
   Registration with which government agency?	The Chamber of Commerce
   How long to open a corporate bank account	4 weeks
   Quality of utilities	Excellent
   Allowed to sign sales contracts with Colombian Clients?	Yes
   Allowed to invoice Colombian Clients?	Yes
   Benefits for operations outside of FTZs?	No
   Corporate tax payable in Colombia?	20%
   Corporate bank account option	BBVA
   Physical office space required	Yes
   Allowed to import raw materials?	Yes
   Allowed to export goods?	Yes
   No duties on imports and exports?	Yes
   VAT exemption on imports?	Yes
   VAT exemption on products sold in Colombia?	No
   Can be wholly foreign owned	Yes
   Can the entity hire expatriate staff in Colombia	Yes
   Annual financial statements?	Yes
   Total Bogota business setup costs in Yr. 1	US$16,740
   Subsequent annual costs (incl. accounting and tax fee)	US$4,700
   Sample engagement invoice	View invoice PDF