We provide a full range of tax and accounting services for doing business in Colombia.
Colombia as an Offshore Business Destination
Colombia is an emerging market that is growing in interest to foreign Simplified Stock Corporation (SAS) business owners for more than just lifestyle reasons. The close proximity to the U.S., access to a lower cost and higher quality outsourced workforce, as well as the country’s capitalist-friendly policies are a few of the reasons why more and more U.S. business owners are seeing Colombia as a strategic market to expand their business in South America.
Starting a SAS in Colombia could be an opportunity to serve both the Colombian and U.S. markets. Many U.S. expats are opening a SAS in the flourishing coffee industry, working with textiles, infrastructure, or other agricultural industries. While other U.S. expats are looking at serving the U.S. market through a contrato de mandato or similar partnership agreement with a local SAS in order to outsource labor and accomplish a shared business goal.
Your Partner for SAS Reporting
In Colombia, businesses will report their annual income taxes in March on Form 110, but will be required to pay different taxes, such as retención en la fuente, on a monthly basis. USATax.co can be your year-round partner to offer monthly bookkeeping services as well as annual tax reporting.
As a U.S. citizen, you are also required to report your SAS on your U.S. Tax Return on Form 5471. Our team of certified licensed professionals have supported clients with their 5471 reporting obligations since 2017 and is ready to help you for this year!