Colombian Investments have been considered as one of the highly favored for foreign investment. Just recently San Antonio Business Center director, Orestes Hubbard, discovered over $30 billions of business opportunities. There are private sector opportunities for the U.S. construction and engineering companies looking for potential partners on infrastructure projects. This country having one of the most open economies, in terms of being invested by foreign countries, is drawing more and more business. Colombia is a growing country that is quickly becoming one of the greatest investment markets in Latin America. The country is wagering on its innovation as one of its components in the business world. Its transformation of products and …show more content…
Countries must know how to face future challenges within the major classifications to achieve success in their organization. Colombia has a very large market with very broad access to different worldwide markets. The many corporations and trades that are located in Colombia have direct access to the US $282 billion Colombian Market. This market is one of the most dynamic markets in Latin America. Let’s not forget Largest. Colombia is considered the third most populous country in Latin America. This country is home to more than 48 million people, who are potential consumers. Colombia, within the past decade, has been growing faster than any other country in Latin America and is becoming very business savvy. With GDP of $73 million Bogota has the largest. Companies based in Colombia have accessed an extended market and have reached $43 trillion. Colombia has emerged as a high roller in market …show more content…
The purpose of the Free Trade Zones is it promotes production diversification, FDI catalyst, technology transference, integration of countries, employment generation, and consolidation of sectors. Free trade zones are a specific class of special economic zones. This is an area where goods maybe landed, stored, handled, etc., under specific custom regulations. There are no customs duties, such as VAT and tariff, that are caused or paid upon goods that are in the free trade zone. The best thing about the free trade zone is the goods that are of foreign origin that are introduced into the free trade zone may remain in them indefinitely. The last tax reform in Colombia was approved December 2016 as Act 1819. This was considered one of the most important aspects in the law regarding the foreign investments. With Colombia being one of the most competitive free trade zones in Latin American, they offer multiple incentives and deductions. The free trade zones have incentives such as: income tax of tax of 15%, application benefits that came from international commercial agreements, partial nationalization of raw material or finished products, customs on site and exemption from custom duties. Colombia offers clients the Colombian free zone within 2 months by incorporating a limited liability company. Colombia exports of coal, oil, and coffee has drawn investors from all over the world. They plan to rise steadily and heavily. Colombia is noted