Business
The SAS dominates incorporation under Ley 1258 of 2008
Ley 1258/2008 created the sociedad por acciones simplificada (SAS), which now accounts for the great majority of new Colombian companies because it allows a single shareholder, flexible bylaws and incorporation by private document rather than notarial deed. Registration is with the local chamber of commerce through the Registro Único Empresarial y Social, and a NIT tax number is issued via the RUT.
Key rules
- Jurisdiction — National company law administered by chambers of commerce
- Deadline — SAS registration: typically completed within a few days at the chamber of commerce
- Deadline — Annual renewal of the commercial registry: before 31 March each year
Governing law
- Ley 1258/2008 - Sociedad por Acciones Simplificada
- Código de ComercioDecreto 410/1971
- Ley 222/1995company reorganisation and insolvency
In practice
The SAS succeeded because it removed the notarial deed requirement and the minimum-shareholder rule at once, and because the Superintendencia de Sociedades can resolve intra-company disputes with judicial powers, giving shareholders a specialised forum. The annual commercial-registry renewal is an easily missed obligation whose omission blocks certificates needed for contracting and tenders.