Imagine a financial oasis, a magical land where the barriers of conventional trade fade away as dawn dispels the darkness. Free trade zones are like bubbles of innovation and prosperity, where organizations dress in the garb of tax exemption and tariffs vanish like an ephemeral dream. In Zona Franca de Occidente we are going to tell you the benefits of establishing a company in a free zone in Colombia.
In this scenario, goods flow like the breeze, freed from tax chains. It is a world where time seems to dance to the beat of efficiency, and companies explore the horizons of international trade without the shadows of taxes, providing operational advantages for businesses.
Likewise, the sector received one of the best news. The Constitutional Court will not require minimum exports to free trade zones in 2024.
"We realized that there was a violation of the principle of legitimate trust, because by tying the 20% income rate to compliance with export requirements, Colombia's obligations under the World Trade Organization agreement were violated, which was unpredictable for free trade zone users," said Javier Diaz, president of Analdex, according to a national economic newspaper.
Free trade zones are like an economic game, where the rules take a more exciting turn and opportunities present themselves at every corner, besides giving operational advantages for companies and businesses, they free themselves from financial ties and venture into a territory where creativity and prosperity go hand in hand. Welcome to the land of opportunities without borders! Without further ado, learn about the benefits of establishing a company in a free trade zone in Colombia.
1. Tax and customs incentives
One of the most attractive benefits of establishing a company in a free trade zone in Colombia is the tax and customs incentives they offer. Organizations operating in these zones often enjoy tax exemptions on imports and exports, which means significant savings in operating costs.
In addition, preferential tax regimes are often applied, allowing companies to reinvest more profits in their growth, i.e., what amounts to operational advantages for companies.
International trade facilitation
Strategically located to facilitate international trade and designed to encourage import and export, these areas become hubs for global trade operations.
Thus, another benefit of establishing a company in a free trade zone in Colombia is to have an efficient infrastructure and specialized customs services that streamline logistics processes, reducing waiting times and improving efficiency in the supply chain.
3. Stability and legal certainty
They usually offer a stable legal and regulatory environment, which provides businesses with the stability needed to operate and plan for the long term. The specific laws and regulations created for these zones provide a clear framework that facilitates decision making, becoming one of the benefits of establishing a company in a free zone in Colombia.
This in turn attracts investors seeking stability and legal certainty for their businesses, providing operational advantages for companies.
4. Infrastructure and resource development
The user operators that manage Free Trade Zones invest in infrastructure development. From industrial parks to advanced logistics facilities, they are equipped to meet specific needs for operational advantages for companies.
This facilitates daily operations, contributes to long-term growth by providing a conducive business environment and is - without a doubt - another of the benefits of establishing a company in a free trade zone in Colombia.
5. Stimulus to innovation and technology
Some free zones have a particular focus on attracting innovative and technological companies. Hence the idea of offering programs and incentives aimed at promoting research and development, which is crucial as the benefits of establishing a company in a free zone in Colombia.
Collaboration and knowledge sharing are also promoted in these environments, creating a dynamic and stimulating entrepreneurial ecosystem, resulting in operational advantages for companies.
6. Access to skilled labor
They are often located in strategic areas that have access to a highly skilled workforce. This is due to the proximity to educational institutions or the existence of specialized training centers. By establishing a company in these areas, the recruitment of talented professionals is facilitated, which contributes to development and innovation within the company.
Do not forget to take advantage of the labor force of the region or area where it is located, that is another of the benefits of establishing a company in a free zone in Colombia.
7. Flexibility in human resources management
Labor regulations in Free Trade Zones are often more flexible, which gives companies more freedom to manage their human resources efficiently. This flexibility translates into more competitive labor costs and the ability to adapt quickly to changes in market demand, in other words, more benefits of establishing a company in a free zone in Colombia.
8. Export Stimulus
Companies established in Free Trade Zones enjoy specific benefits to encourage the export of their products or services. These may include preferential tariffs, export subsidies, and government support for the promotion of products in international markets.
This export orientation is crucial for businesses seeking to expand beyond national borders, generating operational advantages for companies.
9. Reduction of political and economic risks
Some Free Trade Zones offer a business environment insulated from certain political and economic risks that exist at the national level. This provides a relative shelter from abrupt changes in government policies or adverse economic conditions, giving companies a more predictable environment in which to operate.
10. Contribution to regional development:
Establishing a company in a Free Trade Zone benefits the company itself, but also contributes significantly to regional development. Business investment in these areas is often associated with job creation and development of the surrounding community, which has a positive impact on the quality of life of local residents.
11. Environmental Sustainability:
Free trade zones are committed to sustainable and environmentally friendly business practices. This includes the implementation of green technologies, efficient waste management and the adoption of sustainable production practices.
Companies that value sustainability find an environment conducive to aligning their operations with environmental principles, which is linked to operational advantages for the companies.
Establishing a company in a Free Trade Zone offers a diverse range of benefits, from tax incentives to access to qualified human resources and an environment conducive to innovation and sustainability. These factors combined make Free Trade Zones an attractive option for those looking to maximize the potential of their business in a competitive and constantly evolving business environment.Want to know more? Contact us and our specialists will explain everything you need to know to establish your company in the Western Free Trade Zone.
