Has your company or branch in Colombia completed its purpose? We manage an orderly dissolution and liquidation, with no obligations left behind
Closing an entity is often part of a strategic decision: restructuring regional operations, consolidating corporate structures or wrapping up a project. JyM Contadores assists local and foreign shareholders with the dissolution, liquidation and final closure of Colombian companies (SAS, limited liability and joint-stock companies) and branches of foreign companies. We coordinate the corporate, accounting, tax and foreign-exchange workstreams so the process concludes in an orderly way and shareholders are free of future exposure.
An incomplete closure can leave obligations open: unfiled returns with the DIAN (Colombian tax authority), an active commercial registration, foreign investment not cancelled with the Central Bank, or creditors never notified. That is why every engagement starts with a diagnostic that maps those issues before the process begins.
Diagnostic and Dissolution
We review the company’s corporate, accounting and tax position to determine the applicable grounds for dissolution (Article 218 of the Commercial Code, or Law 1258 of 2008 for SAS companies), outstanding liabilities and the most efficient closure path. We prepare the shareholders’ meeting minutes declaring the dissolution and appointing the liquidator, and file them with the Chamber of Commerce.
Liquidation of Assets and Liabilities
We prepare the inventory of the company’s assets, publish the notice to creditors, settle obligations in the legally required order and prepare the final liquidation account for shareholder approval. When the company has no third-party liabilities, we assess faster procedures that reduce time and cost.
Tax Closure with the DIAN
We file all pending returns and the final income tax return, clear tax balances and cancel the company’s tax ID (RUT). An incomplete tax closure is the most common source of penalties later assessed against shareholders and directors.
Deregistration and Repatriation
We register the final account and liquidation minutes and request the cancellation of the commercial registration. For branches and foreign-owned companies we also cancel the foreign investment registration with Banco de la República (Colombia’s Central Bank) and handle the transfer of any remaining funds to shareholders abroad.
Why Choose JyM Contadores for This Process
Direct Benefits of Our Service
- A single point of contact coordinating shareholders, liquidator, Chamber of Commerce, DIAN and Central Bank.
- Timeline and budget defined from the initial diagnostic.
- Protection for shareholders and directors against claims after the closure.