FAQs exchange control

According to Article 1 of External Resolution 8 of 2000 of the Board of Directors of the Banco de la República, residents and non-residents who carry out a foreign exchange transaction in Colombia must submit the respective declaration of change.

The declarations of change must be completed in the name of the resident or non-resident who performs the exchange operation (eg, Importer, exporter, debtor, creditor or investor) and subscribe by him or her legal representative, agent or agent in the signature field of the declarant.

Likewise, the person obliged to present the declaration can grant mandate to the exchange market intermediaries to make the presentation of the exchange declaration, intermediaries who can also act as informal agents for this purpose, subject to the restrictions and formalities imposed by the law .

The declaration of exchange for purchase and sale of currencies, through the professionals of purchase and sale of currencies, must be demanded by the latter at the time of making the transaction.

The declarations of change that are presented as of February 8, 2011 may be modified or replaced by others at any time. These modifications include clarifications for statistical purposes, which were previously made through communications submitted to the exchange market intermediaries.

Chapter 1.5 of the new Circular states in this regard that the data of a declaration of change may be modified at any time by the resident or non-resident who has submitted the initial declaration, indicating option 4 “modification” in the Section “Type of Operation ”, in the modification form.

The foregoing, without prejudice to the timely transmission of these modifications to the DIAN through the available electronic services, regarding the operations that this entity has indicated as required to report in the exogenous information, in compliance with the technical specifications indicated for the Effect on the resolutions of the Director General.

All the data of a previously submitted declaration can be modified, with the exception of the following:

Article 3 of External Resolution 8 of the Board of Directors of the Bank of the Republic establishes that for exchange purposes and without prejudice to the provisions of special regulations, residents of the country that carry out exchange operations are obliged to keep the documents that accredit the amount, characteristics and other conditions of the operation and the origin or destination of the currencies, as the case may be, for a period equal to the expiration or prescription of the penalty action for violations of the exchange regime (5 years), in order to be presented to the authorities in charge of the control and monitoring of compliance with the exchange regime that require them or within the administrative actions that are initiated to determine the commission of foreign exchange infractions.

Residents in the country are free to have, possess and negotiate foreign exchange that is not mandatory channeling through the exchange market, however, it is established in the exchange regulations expressly some operations that can be performed with such currencies and others whose realization is prohibited, then we will refer to them.

Residents in the country are free to own, own and negotiate currencies, which can be used primarily to:

· Be sold to other residents.
· To pay operations that are not of the foreign exchange market.
· To make financial investments or assets abroad.
· To open current accounts in foreign currency.
· To channel them through the exchange market.
· To pay operations in the country for the following concepts:

A person entering or leaving the country may carry up to the sum of ten thousand dollars of the United States of America (USD10,000) or its equivalent in any other currency, WITHOUT DECLARING them before the Customs Authority. The previous amount of money that corresponds to a minor, can be carried by his legal representative at the time of entering or leaving the country.

The professional activity of buying and selling currency in cash and traveler’s checks can only be carried out in the country by residents in the country who are previously authorized by the Directorate of National Taxes and Customs – DIAN, by means of an issued and final resolution , in accordance with the provisions of DIAN Resolution 3416 of 2006.

Note: For more information regarding the international exchange regime, you can check the website of the Banco de la Republica de Colombia, at the following address:

– Resolution of the DIAN No. 000062 of February 24, 2014, which establishes the form, content and terms for the registration of technology import contracts with the DIAN.

– Decision 291 Common regime for treatment of foreign capital and on trademarks, patents, licenses and royalties of 1991. Articles 12 to 15.

This registry is intended for natural persons and legal entities that import technology under the following modalities:

a) Technology license agreements
b) Trademark license agreements
c) Patent license agreements
d) Technical assistance contracts
e) Technical service contracts
f) Basic engineering contracts
g) Other technology contracts.

License agreements for the distribution or use of software (Software) and license agreements for literary, artistic and scientific property must not be submitted for registration, as they are works framed within the Copyright (Law 23 of 1982 ).

3. Where to register a technology import contract?

The registration process is done electronically through the Electronic Information Service (SIE) Registrations, Authorizations and Certifications of the DIAN.

This tool will allow the importing person to submit requests for registration of contracts, consult the registration of their contracts and carry out a process with an agile and timely response.

It is necessary to enter the DIAN portal: http://www.dian.gov.co/

Once you enter the DIAN portal:

– Check if you have access to electronic computer services. The legal representative or agent must be registered as a user to use electronic computer services.

– Check if the legal representative or agent has the digital certificate signing mechanism, granted by the DIAN (Left Menu / Online Services Guide).

– Check the technological requirements of your computer that allow you to enter electronic computer services (Left Menu / Online Services Guide).

– Find out how to download and install the Java virtual machine, which allows you to perform the signing process successfully (Left menu / Online Services Guide).

– Verify your signature system (Left menu / Other Services).

Once you have verified that your equipment has the necessary technical requirements, log in to the electronic computer services.

The authentication process implies that the DIAN has prior knowledge about the person entering the portal and the type of services available to it, that is, an account must be created and enabled.

Entering the DIAN portal: http://www.dian.gov.co/

Proceed to click on the Registered Users option.

Perform the authentication process for which the information requested from the natural person or the Legal Representative or Representative that appears in the RUT must be typed in the Computer Service.

Select the option Registrations, Authorizations and Certifications Click on the option: “Submission of Applications”

The procedure for submitting an application includes:

– Fill in the application, send and sign the application
– Upload documents associated with the request
– Request consultation

The completion of the request consists of typing the information required on form 020, which automatically displays the Computer Service.

For the correct completion, sending and signing of the application, take into account the step by step described in detail in the manual that is in the following route:
www.dian.gov.co / Online Services Guide / Registration of Technology Import Contracts / Manual.

Signed the request, the Electronic Computer Service Records, Authorizations and Certifications, will indicate that it is in a sent state and will be waiting to receive the support documents associated with the request.

The Applicant must upload the supporting documents associated with the Request, at the time of signing the same or at the latest within ten (10) business days of signing the application.

 

To load support documents, consider the following recommendations:

– As of the date of submission of the Request, the applicant has 10 business days to upload the support documents required in the Form 020 application. Refer to the Form 020 – main sheet the Deadline box, as it is the maximum date to finalize the application submission process.

– For each required support document, a file must be uploaded, in any format, preferably in PDF.

– The system allows uploading files up to 5 MGB.

– It is recommended that the files be in black and white, with low resolution.

– The files that are uploaded must correspond to the required support document, be clear and legible in such a way that verification is allowed.

Perform the following steps to load documents required media for the request:

In the Electronic Computing Service, Registrations, Authorizations and Certifications, click on the Request Submission option.

Select the option Upload documents associated with the request.

Once the application for registration of the technology import contract has been completed, the DIAN Sub-Directorate of International Control Management will carry out the Formalization in Format 1638, through the Electronic Computing Service Registers, Authorizations and Certifications, within the term of eight (8) business days, as established in article 3 of Decree 259 of 1992, indicating the result as follows:

· Registered Technology Import Contract: When the DIAN determines in the verification process that all the required requirements are met.
· Unregistered Technology Import Contract: When the DIAN determines in the verification process that all the required requirements are not met.

The result of the verification is shown to the applicant, through the system, in the option Consult requests – Supports associated with the request – Details button (see 5.1 of the Manual).

In the formalization process consider:

The formalization of the request is reflected in the Format 1638 and can be consulted in the option Consult request – Subject (see section 5.1 of the Manual).

The Format 1638 can be consulted and printed in the electronic computer service Records, Authorizations and Certifications as follows:

– Click on the Request Submission option, and then select the option Request Request.
– To facilitate the query, in the search filter No. Request, register the corresponding data, example 209000047109 and click on the Consult button.
– Click on the magnifying glass and the system shows you the Support screen associated with the request.
– Click on the Back to subject button, located at the bottom of the Support screen associated with the request.
– Click on the “Documents” tab

To consult any document, including Format 1638, click on the PDF button

When the Technology Import Contract is not registered in the formalization process, the DIAN through the Electronic Computer Service Registers, Authorizations and Certifications, will inform the reason that gave rise to it. The applicant may submit a new application, correcting, if feasible, the reason that gave rise to the Unregistered Technology Import Agreement.

Once the contract is registered, the registration will be valid From the date the technology import contract was registered, through the Electronic Computing Service Registers, Authorizations and Certifications, until the end date of the term agreed in the contract. It is necessary that the end date be indicated on form 020, box 71.

· The Certificate of Fiscal Residence may be requested by taxpayers domiciled or resident in Colombia or their attorney.
· The Tax Situation Certificate may be requested by taxpayers, with or without domicile or residence in Colombia or attorney.

The procedure for the issuance of the Certificates of Fiscal Residence and / or Tax Status, for the application of agreements to avoid double taxation is established in Resolution 3283 of March 31, 2009.

Article 4 of the aforementioned standard establishes the requirements that must be accredited for the required document to be issued for which the petitioner, whether legal or natural person, must complete the 1381 format found on the website of the DIAN, on the route CITIZEN SERVICE / FORMS AND INSTRUCTIONS / 2015/1381 Application Form Certification on Fiscal Residence and / or Tax Status.

The request must be made before the Subdirección de Gestión de Fiscalización Internacionale located in Carrera 7 No. 6C-54 Piso 7 in Bogotá and located in the Coordinacion de Documentacion located on the first floor of the same address or in the Sectional Directorate of Taxes and / o Customs of your domicile.

One (1) year effective as of the date of issue.

Foreign company branches are not considered tax residents in Colombia, in accordance with the provisions of article 12-1 of the Tax Statute.

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