Lugar de Noticias Haynes and Boone
Doing Business in Colombia
Larry B. Pascal
Jaime Andres Plaza
Colombia, one of South America largest countries, prompts strong images in the minds of many Americans. Influenced by the headlines on the nightly news, many Americans are reminded of the ravaging civil war that has lasted approximately fifty years and a flourishing drug trade that threatens to overwhelm civil society. Despite these ongoing obstacles, Colombia has in many ways made important economic advances in the last ten years, abandoning the model of a state-controlled economy for a modern, liberalized one that invites foreign investment.
This article serves as an overview to doing business in Colombia and is designed to assist foreign investors to become more acquainted with Colombia. This article will be divided into three parts: (1) a discussion of Colombian demographics and of the current political environment, (2) an analysis of basic legal principles for foreign investors to consider, and (3) a discussion of recent important legal developments.
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