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Colombia Update: Surveillance over foreign non-profit entities
17/03/2023DECREE 0326 OF MARCH 08, 2023
The powers of supervision, surveillance and control of foreign non-profit entities with permanent activities in Colombia were delegated to the Superintendence of Companies
Through Decree 0326 of March 8, 2023, the President of the Republic delegated to the Superintendence of Companies its powers of supervision, surveillance, and control over foreign non-profit entities with permanent activities in Colombia.
The foregoing is issued pursuant to the legal provisions set forth in numeral 26 of Article 189 of the Political Constitution of 1991, Articles 8 and 13 of Law 489 of 1998, as well as the decision under file number 11001030600020210016300 of the Council of State, Chamber of Consultation and Civil Service, of July 5, 2022,
Provided these powers were not delegated in another entity before until this Decree, it is necessary to wait for the regulation that the Superintendence of Companies issues in this regard, for which we will keep you posted.
To review the full text of the Decree, please follow the link below:
By LLOREDA CAMACHO & CO, Colombia, a Transatlantic Law International Affiliated Firm.
For further information or for any assistance please contact colombia@transatlanticlaw.com
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