Legal Bulletin N°17
 
Forex, Derivatives and Structured Finance

Recepción de inversión extranjera

 

Information about foreign investment must be electronically shared with the Bank of the Republic

 

External Regulation DCIN-83 of the Colombian Central Bank provides the applicable foreign investment regime for any company receiving foreign investment or conducting Colombian investment abroad.  Therefore, companies that are recipient of foreign investment, including branches of foreign companies exempt from reporting financial statements to the Superintendence of Companies, are required to report information about their capital structure and certain balance sheet accounts through the filing of Form 15 "Patrimonial Conciliation - companies and branches of the general regime" to the Foreign Exchange Department of the Colombian Central Bank no later than June 30, 2014.

For purposes of 2014 (reporting information of 2013), the filing of Form 15 was extended until September 30th, 2014 as informed in Bulletin 19 on May 27, 2014. Nonetheless, this extension was only granted for this year, in the future (e.g. 2015 and so on), the deadline to file the Form No. 15 will continue to be June 30.

Bulletin 19 informs that companies (including branches of foreign companies as mentioned above) that have not registered their foreign investment (completed during 2013) with the Colombian Central Bank, must file Form 15 physically before the Colombian Central Bank, as an exception to the obligation of filing such document digitally, through the Colombian Central Bank’s platform.

The extension mentioned above seeks that companies and branches submits digitally the Form 15, limiting.

For more information contact our team