International Desk

COLOMBIA - Resident Companies (Local Currency)

Minimum documentation required (of the company)
  • Certificate of Incorporation (“Camara y Comercio”).
  • Copy of Tax ID (“Registro unico tributario”).
  • Shareholders list identifying each individual with ID/passport number, controlling directly or indirectly more than 5% of company’s capital.
  • Audited financial statements for the last three years. If a start up, initial financial statements.
  • Copies of tax return form (“Declaracion de Renta”) duly stamped by a local bank. If start up, this is not needed.
  • Signature card including all authorized individuals along with transfer/operations limits.
  • Number of employees. If start-up, expected number of employees for the first year of operations.
  • Customer acquisition form completed and signed by legal representative. “Formulario de vinculacion”.
  • Product activation request. “Formato de solicitud de productos”.
  • Checks request form, if needed for checking accounts. “Solicitud de chequeras”.
Minimum documentation required (of the proxies and signatories)
  • Copy of IDs/passports of signatories, proxies and main contact.
  • Signed Current Account Agreement.
  • Promissory Note, only for checking accounts expected to have an overdraft facility.
  • “Anexo de personas autorizadas”. Duly completed and signed. Financial information can be filled with 0.
Currency

Colombian Pesos (COP).

Person responsible for the receipt of documents and supplementation of the file

  • The Relationship Manager or the ID responsible will be responsible for receiving all necessary documentation.
  • The opening has to undergo review by Legal, Compliance and Operations departments before the account is opened and fully operational. This may mean that we may require more information from the company.
Time (days) in which the account is operational*

5 business days once documentation is complete and accepted.

Do you require a local proxy?

No.

Does the signature of the opening contract require physical presence?

No. The company can send via courier the required documents to: Banco Santander de Negocios Colombia S.A. Atn: Andres Giraldo / International Desk Manager Calle 93 A # 13-24 Piso 4. Bogota, Colombia.

If the answer is NO, what are the alternatives?

Please ensure that Relationship Manager is notified of the tracking number.

Other requirements/restriction?

There are no foreign currency (FCY) restrictions. However, in order to receive/send funds to/from abroad it has to be done through a local bank fulfilling a documentary process as per Central Bank’s requirements.

COLOMBIA - Resident Companies (Foreign Currency)

Minimum documentation required (of the company)

There are no local Foreign Currency accounts in Colombia as per Central Bank’s regulation.

However, Central Bank allows resident companies to hold foreign currency accounts (“cuentas de compensacion”) to be used for trade related payments, mostly.

We offer this product through Santander USA. Foreign currency accounts must be registered with the Central Bank and monthly reports must be completed. We strongly advise clients to get legal/tax/foreign exchange legal counseling.

Minimum documentation required (of the proxies and signatories)

Not applicable.

Currency

Not applicable.

Person responsible for the receipt of documents and supplementation of the file

Not applicable.

Time (days) in which the account is operational*

Not applicable.

Do you require a local proxy?

Not applicable.

Does the signature of the opening contract require physical presence?

Not applicable.

If the answer is NO, what are the alternatives?

Not applicable.

Other requirements/restriction?

Not applicable.

COLOMBIA - NON-Resident Companies

Minimum documentation required (of the company)

Under review by our legal/operations department (accounts in local currency).

Minimum documentation required (of the proxies and signatories)

Under review by our legal/operations department (accounts in local currency).

Currency

Under review by our legal/operations department (accounts in local currency).

Person responsible for the receipt of documents and supplementation of the file

Under review by our legal/operations department (accounts in local currency).

Time (days) in which the account is operational*

Under review by our legal/operations department (accounts in local currency).

Do you require a local proxy?

Under review by our legal/operations department (accounts in local currency).

Does the signature of the opening contract require physical presence?

Under review by our legal/operations department (accounts in local currency).

If the answer is NO, what are the alternatives?

Under review by our legal/operations department (accounts in local currency).

Other requirements/restriction?

Under review by our legal/operations department (accounts in local currency).

COLOMBIA - Electronic Banking

Can the company be given access and transaction passwords to use Electronic Banking from overseas?

Yes.

In this case, what is the process for agreeing and receiving passwords?

Sign and complete Electronic Banking Agreement (“SuperNet”).
Sign and complete SuperNet user’s form (“Solicitud de Acceso”).
Passwords and tokens will be send via courier to each authorized employee. 





Banco Santander de Negocios Colombia SA 2013. Todos los derechos reservados. Todas las marcas registradas son propiedad de la compañía respectiva o de Banco Santander de Negocios Colombia SA.