October 11th/2023.
In order to keep you updated on the regulations applicable to Foreign Non-Profit Entities with permanent businesses in Colombia, we inform you that on October 4, 2023, the Superintendence of Companies issued the External Circular No. 100-000004, by which it modified Chapter X of Basic Legal Circular 100-000016 of December 24, 2020, and its amendments (SAGRILAFT), as well as Chapter XIII of the Basic Legal Circular 100-000011 of August 9, 2021 (PTEE).
In accordance with the above, foreign non-profit entities with permanent businesses in Colombia that are currently under the supervision of the Superintendence of Companies, must implement the Self-Control and Comprehensive AML/CTF/CFPWMD Risk Management System (by its acronym in Spanish, SAGRILAFT) and the Transparency and Business Ethics Program (by its acronym in Spanish PTEE) under the terms of Chapters X and XIII of the Basic Legal Circular, no later than 31 August 2024.
If you need any further information regarding this matter, please contact Adriana Bueno, Risk & Compliance director.