Set up in a free zone in free trade zone in Colombia has several benefits, which represent significant gains for companies, hence it can be said that investing in free zones is FDI (foreign direct investment). These gains are not only represented in money, but also in other aspects such as comfort and safety for both goods and workers of your company. Today you will know with us the main reasons to invest in a free zone in our country, we assure you that this is a safe investment that you will never regret. Join us!
Tax Benefits of Free Trade Zones in Colombia
Investing in free trade zones is FDI (Foreign Direct Investment), that is to say, it is not only a motivation for national entrepreneurs but also for foreigners and this is due to all the benefits that are acquired by setting up in a free trade zone in our country.
One of the aspects that most motivate national and foreign businessmen to invest in free zones to invest in free trade zones are the tax and customsare the tax and customs benefits to which they will have access.
According to what was agreed in the second instance of the debate for the establishment of the new tax reform for free zones in the country, businessmen can negotiate with the Ministry of Commerce some internationalization plans.
These plans consist of a commitment of sales abroad so that companies can access the income tax discount, which is at 20%. So you can have a double benefit from this situation; on the one hand, you can have access to a lower income tax rate and on the other hand, boost your exports, a fact that will help the economic growth and competitiveness of your company.
On the other hand, you can enjoy VAT tax savings. This is because the merchandise that enters a free trade zone from anywhere in the world is not classified by law as an import, therefore, the VAT tax does not apply in these cases.
However, bear in mind that in order to access this benefit, the merchandise that enters the free trade zone must be free zone must not leave the free trade zone. That is to say, what you bring from abroad must be used for construction or improvements of your company (social project).
Thus, you can bring all the merchandise you require for your production to the free trade zone where you are going to set up without having to spend large sums of money in the payment of VAT on each transaction.
Another advantage of having your company in a free zone, is that you can enjoy the international trade agreements that our country has negotiated with different territories when you make your exports. So if you find yourself with other discounts or benefits that Colombia has agreed with the country to which you want to export, you will have access not only to the advantages of the free zones, but also to all those aids of the country of destination of your goods.
Thus, the tax benefits of the free trade zones in Colombia free zones in Colombia will provide your company with great advantages so that it can grow in the market by leaps and bounds.
Teleworking Option for Industrial Service Users
Although the services provided from the free trade zones must be managed from the area because it is a delimited geographic zone, thanks to Decree 505 of 2022, it is not possible to manage the services provided from the free trade zones. Decree 505 of 2022In the free zones where there are industrial service users (i.e., those users engaged in activities such as logistics, transportation, handling, distribution, packaging, repackaging, packaging, labeling or classification of raw materials), teleworking functions can be carried out.
In order for your company to be eligible for this benefit, it must comply with two characteristics:
- The work must be managed from the mechanisms of ICT and always taking care of the rights of the worker. In spite of working from home, employees must have at all times what is stipulated in the terms of the Labor Law of the country.
- Only 50% of the company's personnel may be in virtual mode.
Choosing who may work from home will be expressly determined between the employer and the employee, it is between both parties that they can reach mutual agreements in which the company's production is not affected and neither is the employee's labor welfare.
So if your company needs certain workers to perform their functions from the comfort of their home, if you set up in a free zone in Colombia you will be able to do so without any inconvenience, as long as you comply with the provisions of Decree 505 of 2022.
Your Company Does Not Have to Be Large.
Although investing in free zones is FDI (foreign direct investment) in many occasions, currently, 90% of the companies installed in free zones in Colombia are MSMEs and have the capacity to generate millions of jobs in the country, while they have the possibility to grow substantially not only in the domestic market, but also in the international market.
Therefore, it is not necessary for your company to be as big as a multinational. If you can afford the costs of setting up in a free trade zone and you belong to the world of MSMEs, you can enjoy all the benefits that this offers for your growth and competitiveness.
The tax benefits of free trade zones in free trade zones in Colombia not only apply to large companies, you can also take advantage of these benefits with your MSME so that investing in a free zone is undoubtedly the best financial decision of your life.
High Quality Infrastructure
Investing in free zones is FDI because of the great benefits that these territories have for businessmen and investors from all over the world. Among its greatest advantages is the infrastructure, since, currently in the free trade territories and particularly in Zona Franca de OccidenteWe have a modern and complete infrastructure so that companies can carry out their production with total comfort and security. The facilities are spacious and have all the necessary public services so that all production tasks can be carried out. In Zona Franca de Occidente, we have several benefits that will undoubtedly be very useful for your company, these are:
- Wide roads and maneuvering areas: strategic location only 10 km from Bogota, internal road circuit, warehouses with docks over 18 meters long, internal and external parking for visitors.
- Energy and telecommunications: subway electrical and telecommunications networks, solar energy project, robust and proprietary substation.
- Hydraulic and sanitary networks: independent sewage system for rainwater and wastewater, potable water aqueduct with high-pressure pipes.
- Security and complementary services: infirmary, vehicular and pedestrian access control, as well as perimeter enclosure.
You will also have access to other benefits that will make your stay in Zona Franca de Occidente an excellent experience and investment.
Additional Services
The free trade zones in our country have individually certain benefits for users who settle in their territories and this will depend on each particular free trade zone. Such benefits may be discounts on monthly payments, support and advice on various processes, technological tools, among others, which undoubtedly make each free zone unique and provide an added value of great utility to each of its customers.
In the case of Zona Franca de Occidentewe handle for our clients a series of advantages so that their establishment in this territory is a pleasant process of constant growth, in which we and our clients work as a team to obtain the best results that benefit all parties. These advantages that you will find with us are:
- Advice on the development of all your industrial processes.
- Accompaniment in User Qualification process.
- Intercomex inventory system.
- Implementation of operations according to your needs.
- Control of foreign trade operations and inventories in the operational stage in accordance with the legal framework in force.
- Periodic advice on the execution of its operations.
- Training on current issues related to Free Trade Zones and foreign trade.
- Attention 24/7 /365
- Scale service with digital recording.
- Irrigation of gardens with rainwater from the buffer pond at no additional cost.
- Supply of rainwater from the stilling pond free of charge for industrial processes.
- Administration fee with 10% discount for the first 10 calendar days.
- Collection and sale of recyclable material, which contributes financially to its administration fee.
At Zona Franca de Occidente we are available to work together with you and achieve excellent results in each operation. We have all the necessary inputs to provide you with a high quality service, so the decision to invest in free zones will become your best decision. Contact us! And let's start new projects together.
