Considering that Colombia is a growing economy, Abusaid Gomez & Asociados provides an optimal legal support during all the phases that make up the investment of foreign capital in national businesses. From the orientation regarding the most suitable means to perfect the investment, going through the legal situation of the investor in Colombia, to the treatment of the return of his investment, carefully studying the exchange and tax aspects of each one of the stages.
Colombia’s flexible Legal Frame in Duty Free Zones operations
Colombia is categorized by the ANDI (National Association of Colombian Businessmen) as the country with most free trade zones in south America, 28 permanent free zones and 62 special permanent free zones, with a total of 100 free trade zones (FTZ) functioning throughout the country. During 2016, it was estimated that 817 companies operate in FTZ.
The key aspect to commercialise cannabis derived products
As commercializing is one of the key stages in every productive project, being well aware of Colombia’s government imperatives is crucial in order to achieve the projected economic returns, and cannabis projects are no exception. Hence, one of the fundamental steps to follow is obtaining the sanitary register for the cannabis derived products to be marketed.
The protection of cannabis companies financial rights within Colombia’s legal system
Even when the government has fully regulated and legitimated the cannabis industry, unfortunately, financial institutions, and particularly banks, are still coming up with obstacles for cannabis companies to acquire financial services. However, cannabis companies should be well aware that these arbitrary exclusions are averse to the rights contained within Colombia’s legal system and, therefore, they can be taken down in a prevalence of national and international economic interests.
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