Why trade or invest in Colombia
Colombia is the third economy of Latin America with an average growth above 4% during the last years. Colombia has an investment grade awarded by Standard & Poor’s, Moody’s and Fitch on Colombia's sovereign debt. In July 2014, Moody's gave a qualification of Baa2.
In 2015, Colombia ranked as the 34th economy worldwide in the “Ease of Doing Business Ranking”, being the first in the Latin American and the Caribbean region. Colombia is the second country worldwide in the ranking regarding obtaining a credit (e.g. strength of legal rights index, depth of credit information index) and the number 10 worldwide in protecting minority investors.
Some particularities of the Colombian law and the Colombian legal system you should know
Colombia has a mixed legal system with a dominant structure belonging to the continental system but with a non-negligible influence from US law, particularly in commercial and financial law.
The constitutionalization of the Colombian law is highly relevant; the main legal issues have constitutional regulations as their legal basis and therefore the knowledge of constitutional case law is crucial in any legal area, including the regulation of the main economic sectors, arbitration, corporate law and public procurement issues.
A-Law law firm Colombia
A-LAW Colombia/Andean Region desk has been active in different sectors of the economy such as IT, FMCG, services, agricultural products, Logistics and Trade.
We have supported Belgian/European clients in developing businesses in Colombia: establishment of companies, joint ventures, commercial cooperation, direct investment (in companies and in real estate), obtaining credits, successful participation in public procurement processes, research on FTA and TPP compliance.
We have also assisted Colombian clients on migratory issues in Belgium, but also on liability and debt recovery issues.