August 20, 2021 (Investorideas.com Newswire) In 2021 a brand new free commerce zone regime was decreed in Colombia with necessary modifications that profit corporations and international funding. Find out about a few of the benefits this regime brings for corporations who plan to do enterprise in Bogota.
Bogota, August, 2021. Bogota continues to consolidate its place as one of many foremost cities for doing enterprise in Latin America. Along with its big selection of obtainable human expertise, its strategic location, and its financial energy, the town presents necessary incentives and best situations for the attraction of international funding and the event of companies within the area.
Amongst these incentives and situations is included the brand new Free Commerce Zone Regime (Decree 278 of 2021), which has necessary benefits, as proven under:
Permits distant work
The brand new free commerce zone regime permits industrial service customers to have 50% of their direct workers working remotely. This, so long as a business institution or department workplace will not be established outdoors the free commerce zone and the prices of the distant staff don’t exceed 30% of the full prices of the consumer.
This permits the decentralization of operations, optimization of infrastructure, discount of working prices, and, after all, goes in keeping with the brand new actuality, and world work traits.
Reduces workplace procedures and deadlines
The free commerce zone regime of 2021 reduces the procedures required for the declaration of a free commerce zone from 57 steps to 24; and, by lowering the phrases of response from public entities and candidates, it reduces by half the time required for this declaration, because it used to take 18 months and at present solely 6.
As well as, it unifies the extension time period of the declaration of everlasting free commerce zone and particular everlasting free commerce zone to 30 years.
All the above offers larger stability to the regime and permits corporations to consolidate their investments within the shortest time attainable.
Promotes e-commerce
In keeping with world traits, the brand new free commerce zone regime entails e-commerce. Subsequently, free zone customers could make gross sales over the Web, with out being thought-about retail gross sales based on the phrases of the Nationwide Tax and Customs Directorate (DIAN for its acronym in Spanish).
Consequently, gross sales made out of a everlasting free commerce zone could enter the nationwide customs territory below the modality of postal visitors and specific shipments, so long as these items don’t exceed a worth of USD 2,000 and a weight of fifty kilograms.
This reduces transport prices and permits a greater distribution of products from the free commerce zone to the totally different cities in Colombia and the area.
Permits the conversion of particular everlasting free commerce zones for companies into everlasting free commerce zones
The current regime makes attainable the conversion of particular everlasting free commerce zones for companies into everlasting free commerce zones oriented to the export of science, know-how and innovation companies.
That is particularly related for sectors corresponding to BPO and medical companies, contemplating Bogota’s sturdy worth proposition when it comes to human expertise and manufacturing capability for prescription drugs and medical gadgets.
Hyperlinks the private and non-private sectors
By way of the Free Commerce Zone Technical Committee, created throughout the framework of the Nationwide Competitiveness and Innovation System in July 2021, an official public-private physique is constituted to entails all stakeholders by means of fixed dialogue.
This permits to advertise the implementation of the Free Commerce Zones 4.0 mannequin and to spice up funding and productive transformation.
- The brand new free zone regime (Decree 278 of 2021) has traits that promote the attraction of home and international funding, financial restoration and the promotion of exports from Colombia.
- Greater than 960 corporations function in Colombia’s 112 free commerce zones, using greater than 54,000 individuals.
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