Regulations and regulatory institutions that safeguard the process for registering companies in Colombia

When we speak about regulatory entities, we must know that they are institutions created or linked to the State in order to control sectors and industries that offer basic services for citizens such as energy, communications, public works, the financial sector, etc.

These regulatory entities intervene in variables such as price, services and accessories, the regulation of the labor market and even in the quality or service of said sectors. That is why the registration of companies in Colombia is closely linked to these regulatory entities.

Regulatory Institutions Involved in Registering a Company in Colombia

Regulatory Institutions are public bodies that have legal personality under internal public law with their own autonomy in financial, administrative, and technical terms.

These are bodies created within the regulatory framework, so their mission is to regulate and control legal and technical aspects, as well as attend to existing relationships between consumers and private companies that provide public services.

There are three regulatory institutions involved in the process of setting up companies in Colombia: Chamber of Commerce, DIAN, and an associated banking entity.

Among the functions of these regulatory entities, the following stand out:

– Promote and facilitate the existence of competition in all sectors.

– Protect the interests of consumers in terms of the quality of services and their price.

– They must guarantee a minimum coverage in terms of public information, claims and emergency services.

– Encourage the development, research and use of new technologies.

– Encourage private investment with the aim of encouraging competitiveness.

– In the concession contracts, they must supervise the fulfillment of the obligations acquired by the concessionaires.

– They are responsible for sanctioning those infractions committed by service providers.

– They are responsible for promoting free access and widespread use of all services and facilities in the country, sanctioning discriminatory behavior if necessary.

– Among its functions, they also resolve problems and conflicts that may arise between different public service operators, or between a company and a client.

Now, we will see the most important ones, as well as the function that each one of them performs:

Communications Regulatory Commission in Colombia

Regulatory entities promote and regulate free competition for the provision of telecommunications networks and services, as well as prevent unfair conduct and restrictive business practices, through general regulations or specific measures, being able to propose differential behavior rules according to the position of the providers, as long as the existence of a market failure has been previously determined.

Colombian Software Federation

The main functions of the Colombian Software Federation are:

1. Promote and encourage the development of the software industry in Colombia at a national and international level.
2. Defend the copyright on the production, reproduction and marketing of computer programs and encourage the issuance of regulations that improve the protection of said rights, collaborate with the national government as a consultative entity about copyright and others related to the software industry.

Internet and Electronic Commerce Regulatory Entities

Below we will see some of the international organizations that exercise a large number of regulations on the Internet and Electronic Commerce:

1. ICANN: Corporation for Assigned Names and Numbers.
2. WIPO: World Intellectual Property Organization.
3. UNCITRAL: UN Commission (United Nations Organization) for international commercial law.
4. OECD: Organization for Economic Development.
5. ICC: International Chamber of Commerce.

National Public Policies

1. National Development Plan: Sustainable growth and competitiveness.
2. Plan Live Digital.
3. COMPES 3701: Policy guidelines for cyber security and cyber defense.
4. COMPES 3533: Policy guidelines for the adaptation of the system to intellectual property to competitiveness and productivity.
5. COMPES 3620: Policy guidelines for the development and promotion of electronic commerce in Colombia
6. Policy for the Promotion of the Digital Content Industry.

Regulatory entities in Commerce, Industry and Tourism

To finish, we will see a description of those regulatory entities that are linked to the Commerce, Industry and Tourism sectors:

Ministry of Commerce, Industry and Tourism

The main objective of the Ministry of Commerce, Industry and Tourism is to issue, adopt, direct, and coordinate the general policies in matters of economic and social development of the country that are related to the competitiveness, integration and development of the productive sectors of the industry, be it micro, small or medium-sized enterprises, foreign trade in goods, services and technology, the promotion of foreign investment, domestic trade and tourism, and also, executing policies, general plans, programs, and projects that come from foreign trade.

Bancoldex S.A.

It was formed back in 1992, and today it is the largest shareholder in the National Government. It carries out its operations in Colombia as a Rediscount Bank, which offers financial products and services to companies that are part of the export chain of goods and services in Colombia. Outside the country, it provides, through previously qualified banks, financing for the importer of Colombian goods and services, in addition to serving as a financial instrument of the Colombian state to support the Export Strategic Plan.

Technical Council of Public Accounting

It was created by Law 1151 of 2007, Article 71, through which the current National Development Plan was issued.

National Guarantee Fund S.A.

It is a mixed economy entity, which has been improving until it contributes to the sustainable development of the country, since it grants guarantees that allow individuals and companies from all economic sectors access to loans or credits before intermediaries. financial, as long as they are for viable projects that require financing and do not have sufficient guarantees.