GENERALIT

IES OF
THE
EXCHANGE
REGIME
GENERALITIES OF THE

GENERALIDADES DEL REGIMEN

EXCHANGE REGIME CAMBIARIO
It is the set of rules that
regulate aspects of
international exchanges. BANK OF THE
International exchanges can REPUBLIC
be defined as all foreign
transactions involving
payment or transfer of
foreign currency or titles
representing the same.

https://www.banrep.gov.co/es/busqueda-preguntas-abc/7710
How are currency transfers made from
Colombia abroad and from abroad to
Colombia?
External Resolution 1 of 2018 establishes
in its article 41 the operations that must be
channeled through the foreign exchange
market, whose payment must be channeled
through the exchange market
intermediaries or clearing accounts.
If the currency transfer originates from a
mandatory channeling operation, the
applicable procedure for that operation
must be followed, according to the
provisions of the External Regulatory
Circular DCIN-83.
What are the implications of belonging to
the special exchange regime?
Branches of foreign companies subject to
this regime cannot go to the foreign
exchange market for any reason, except
for:
a. Transfer abroad the equivalent in foreign
currency of the amount of foreign capital in
case of liquidation of the branch.
b. Transfer abroad the equivalent in foreign
currency of the sums received in legal
currency on the occasion of internal sales of
oil, natural gas, coal, ferronickel or uranium
or services inherent to the hydrocarbon
sector.
c. Transfer abroad other sums received in
legal currency related to its operation.
d. Reintegrate the foreign currency
required to meet expenses in legal
currency.
Is it possible to offset or cross
mandatory channeling operations?
No, it is not possible to offset
operations that must be channeled
through the foreign exchange market
and, therefore, each one must be
channeled independently to meet the
channeling obligation provided for in
the regulation.
Article 41 of External Resolution 1 of
2018.
What foreign exchange transactions are
authorized by the exchange regime
between a parent company domiciled
abroad and its branch established in
Colombia?
In accordance with the international exchange
regime, between a parent company domiciled
abroad and its branch established in
Colombia, only the following foreign currency
operations can take place:
1. Assigned or supplementary capital transfer.
2. Reimbursement of profits and assigned or
supplementary capital.
3. Payment for reimbursable operations of
foreign trade of goods, in accordance with
customs and tax regulations, and,
4. Payment for services, in accordance with
tax regulations;
Article 56 of External Resolution 1 of 2018.
How should the payment of an import or
export of services be managed?
The services are not foreign exchange
operations that must be channeled through
the foreign exchange market. For this
reason, its transfer or refund through this
market is voluntary.
To carry out the voluntary channeling, the
information of the minimum data for
services, transfers and other concepts must
be provided (exchange declaration).
Numeral 10.2 of chapter 10 External
Regulatory Circular DCIN-83.
Article 87 of External Resolution 1 of
2018.
Can currency be exchanged at the Banco
de la República?
No. The Banco de la República carries
out the functions that have been
expressly assigned to it by the
Constitution and the law, which do not
include the power to carry out foreign
exchange purchase and sale operations
with individuals.
You will be able to trade foreign
currency with foreign currency purchase
and sale professionals or with foreign
exchange market intermediaries (IMC),
under the conditions indicated in
External Resolution 1 of 2018.
Article 84 of External Resolution 1 of
2018.