DO YOU KNOW HOW CROWDFUNDING WORKS IN COLOMBIA?

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In Colombia, Crowdfunding activity was regulated through Decree 1357 of 2018. This Decree established the administration, operation and use of electronic platforms for the financing of investment projects through the issuance of securities representing debt or social capital. At the same time, it set operating standards, in order to protect entrepreneurs and investors, as well as prevent money laundering.However, the managing entities of the Crowdfunding platforms may only be incorporated as joint-stock companies, as long as they obtain the respective authorization from the Financial Superintendency and are registered in the National Registry of Stock Market Agents.To carry out this activity, the company must meet the following requirements: (i) Have mandatory bylaws; (ii) Establish vigorous internal oversight and inspection mechanisms; (iii) Provide information to the public regarding the general characteristics of the productive investment projects; (iv) Execute the recollection of resources for the financing of productive projects through entities supervised by the Financial Superintendence of Colombia, other than the collaborative financing entities themselves; (v) Maintain the resources collected for the financing of the productive projects, in entities supervised by the Financial Superintendence of Colombia, in order to ensure the independence of said resources, separation of the assets and resources of the entities that carry out the activity of crowdfunding and of those that the latter collects under other productive projects, among others.These companies will have a term not exceeding (6) six months to obtain the minimum percentage of the resources they need to finance the project. Otherwise, the company will be forced to return the resources within thirty (30) days.At Triana, Uribe & Michelsen we help you with your Crowdfunding project.

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2019-12-05T00:13:48+00:00