March 16th/2023.
By means of Decree 0326 of March 8, 2023, the President delegated the functions of inspection, surveillance and control of these Non-profit Entities to the Superintendence of Companies, as of March 8, 2023.
This delegation follows a decision of the Council of State, which established that the regulatory vacuum that existed with respect to the inspection, surveillance and control of foreign Non-profit Entities with permanent businesses in Colombia, could be resolved through the mechanism of delegation by the President of the Republic.
Although this Decree solves the doubts regarding the competence of inspection, surveillance and control over these Non-profit Entities, now the Superintendence of Companies must clarify the guidelines with which it will exercise these functions. It is expected that the treatment will not be the same as that of commercial companies since they are common utility entities and not for-profit companies.