Regulations

The regulation for the Free Trade Zone Program offers companies a legal framework that builds security and trust with the conditions that the Colombian National Government requires to grant benefits when operating from a Free Trade Zone.

¿What is the Free Trade Zone regulation?

It’s the legal framework established by a law of the Colombian Congress (Law 1004 of 2005) which contains the purposes of Free Trade Zones, structured in 5 core principles:

  1. To be an instrument for the creation of new jobs and for the attraction of new capital investments.
  2. To be a development hub that promotes competitiveness in the regions where they are established.
  3. To develop industrial processes that are highly productive and competitive, and that follow the concepts of security, transparency, technology, clean production and good business practices.
  4. To promote the creation of economies of scale.
  5. To simplify the procedures to commercialize goods and services in order to ease their sales processes.

¿Why is it important and what do companies use it for?

It is the way that the Government defines the conditions and benefits that are granted to a company that intends to establish itself in a Free Trade Zone.

Current Regulations – Ministry of Commerce, Industry and Tourism

Visit andi.com.co (original content in Spanish)

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