EXPANDING NEW FRONTIERS WITH BUSINESS LAWYER IN COLOMBIA
Looking for hassle free expansion of your business, the assistance of lawyer in Colombia cannot be sidelined. Setting up or expanding a trade is not an easy task as it demands the fulfillment of varied prerequisites. A company should be built as per the norms of the standard regulatory framework. If individuals fail to meet any regulatory necessity, they eventually land up with huge fines and loss of privileges to carry out commercial operations within the state. Thus, guidance from a business lawyer in Colombia is essential while expanding or developing a company.
The local government has recognized special provisions to protect and aid all foreign investors, who desire to stabilize their business; a skilled lawyer can navigate you through the process. Additionally, the local jurisdiction has created a business-friendly platform to encourage budding entrepreneurs and upcoming trade owners. It is natural for these foreign investors to be unaware of the local practices of the region. A locally practicing business lawyer in Colombia is sure to be acquainted with the Colombian framework that regulates the establishment of new companies.
Colombia is geographically located in such a way that it acquires easy access to Asian, Europe and other major world markets through the Pacific Ocean. The government has signed major trade agreements and treaties with multiple European, Asian, and American global markets. This country exports various high-priced products including petroleum, mineral resources, plastics, etc. The economic figures of the country are constantly booming which invariably indicates the increase in the living standards of the citizens. Thus, individuals consider the region as one of the biggest platforms that boost the revenue and profit margins of upcoming and existing companies; this has given rise to skilled and experienced lawyers in the region who can assist you in your trade.
The necessity of a business lawyer in Colombia in the development of a new company
A business lawyer in Colombia provides professional guidance to set up new companies or expand existing trade. A proprietary attains eligibility to acquire an official operational license only when it is built in compliance with the local corporate requisites. A business lawyer in Colombia is sure to be familiar with the native legal system of taxation. This professional acquaintance of a business lawyer in Colombia helps save time and avoids fines.
A business lawyer in Colombia aids in presenting the initiatives and strategic plans under various heads to the concerned local authorities for obtaining lawful approval of the same. Additionally, an experienced business lawyer in Colombia can also help in negotiating with foreign and indigenous clients to thereby obtain successful deals. Each legal procedure of an expansion requires thorough professional knowledge for its execution. A business lawyer in Colombia possesses the required specializations to accomplish the following functions.
- Filling out necessary application forms.
- Drafting the terms of important deal contracts and documents.
- Examining and ensuring the legitimacy of legal and official documents.
Benefits of hiring a business lawyer in Colombia
The region inhabits multiple legal associations that employ proficient corporate attorneys. A business lawyer in Colombia can serve as a guide for the following functions.
- Setting up a new proprietary in the country needs the assistance of a lawyer.
- Accounting and documenting the expenses incurred for the establishment and operation of a newly built company needs a lawyer.
- Filing requisite tax papers and paying all necessary taxes.
- Drafting legal documents like employment contracts, patent registrations, etc., and signing bond papers with the newly gathered board of members.
A legal association that specifically renders corporate services is a wholesome entity that proves beneficial for the formation and functioning of a new establishment in the country. These legal hubs do not limit their services to just the regions. Several legal associations in the country also help in establishing units in other American regions like the Caribbean Islands, Latin America, etc. Thus, it is important to partner with the best business lawyer in Colombia, who enjoys successful reputations within and outside the state.
A company owner acquires various advantages upon hiring a business lawyer in Colombia for legal help and assistance. Some of the main advantages are briefed below.
- Assistance in decision making
Every proprietary that is to be set up in the country is expected to meet a certain set of statutes. A business lawyer in Colombia mandatorily possesses extensive knowledge of these statutes. A client can come up with informed decisions by rightly using this legal acquaintance of a business lawyer in Colombia. Informed decisions, in turn, mean fewer risks and reduced loss of funds.
- Removal of all legal risks
A company that is built by violating the regulatory framework of the local corporate structure is prone to legal scrutiny and heavy fines. In extreme cases, the at-fault owners may face lawsuits in the courts. A competent business lawyer in Colombia aids in eliminating these legal risks and complications. Furthermore, the hired business lawyer in Colombia protects the accused company owner from incurring severe legal penalties and fines.
- Enhanced protection of intellectual properties
A company is not just a materialistic asset that inhabits multiple employees and an owner. A trade has various intellectual properties including its logo, name, commercial and operational licenses, trademark, patents, and contracts. A business lawyer in Colombia assists in protecting these crucial intellectual properties.
- Business networks.
A business lawyer in Colombia would have rendered services for a large number of clients. Through long years of experience, a business lawyer in Colombia would have gained access to various networks and client connections. This local acquaintance of a business lawyer in Colombia helps gain crucial networks and new customers.
Tips to find the right business lawyer in Colombia
It is not right to randomly pick a business lawyer in Colombia while looking for an effective legal representation. The chosen business lawyer in Colombia should be highly cognizant of the foreign exchange regulations. Foreign investors will be looking to transfer foreign currencies from non-native bank accounts. This transferal process is sure to be tiring and complex for any common man. But a business lawyer in Colombia will be familiar with the procedures involved in the money transfers from foreign resources. Additionally, the procedural requirements of an expansion are entitled to include meetings that are scheduled with the local authorities and civic officers. A business lawyer in Colombia is known to possess smooth professional relationships with the local authorities of the state. Once when these meetings attain successful and quicker conclusions, the operation of the desired expansion entity is promptly finalized.
The following tips help in choosing the right business lawyer in Colombia.
- Client histories
The efficiency of a business lawyer in Colombia is determined with the help of the experiences shared by past clients. The skills, success rate, pro activity, and work ethics of a business lawyer in Colombia are ascertaining by analyzing the reviews presented by the previous clients. The reputations of corporate attorneys are relative to their experience of service and success rates.
- Updated technical expertise
New investors are majorly found to be from foreign destinations, who wish to expand or promote their companies in non-indigenous regions. Multiple requirements should be met and various documents should be submitted to expand an overseas business in Colombia. Approvals should be obtained from the concerned authorities of both the parent and host countries. With digitization, almost all processes are expected to be completed online. If not for this online provision, the international chiefs will be obligated to travel to their home countries or states to thereby complete all procedures that require the approval of their indigenous authorities. Thus, a business lawyer in Colombia should possess ample technical expertise to carry out all online procedures that should be necessarily executed for the desired expansion of the client.
- Legal knowledge
Each jurisdiction acknowledges a unique set of rules to govern the formation of new setups and foreign company expansions. The corporate regulatory framework of the country may not be the same as any other South American country. Furthermore, the recognized set of rules is subjected to constant changes and updates to thereby meet the growing needs of all commercial entities. A company that is built in compliance with the updated corporate framework is enduringly compatible for the long run. A business lawyer in Colombia is known to be abreast with the newly introduced legal modifications and updates. Thus, it is necessary to hire attorneys, who are open and responsible to upgrade themselves to all new information.
- Linguistic proficiency
Almost all professionals and officials of Colombia speak basic English that is adequate to initiate formal conversations with any random person or specific authority. However, Spanish is the official language of Colombia. Therefore, Colombian legal documents are drafted in Spanish. Additionally, almost all legal proceedings are conducted in Spanish. Thus, an individual, who plans to establish new expansions in the region, should either be fluent in Spanish or have the company of a person, who is proficient in speaking multiple languages. A business lawyer in Colombia possesses sufficient linguistic skills to carry out all legal processes. The hired business lawyer in Colombia should be mandatorly fluent in both Spanish and the language preferred by the foreign chief.
The Law Offices of SRIS, P.C., have in-depth knowledge in business law and can ensure the safe and secure function of your existing and future expansion in Colombia as well.