The Suppression of International Investment Registration Deadlines in Colombia: Analysis of Decree 1044 of 2026

What changes

1. Recipient companies may file the registration. This point applies to foreign capital investment in Colombia. In addition to investors and their attorneys-in-fact, companies receiving foreign capital investment may, through their legal representatives, file the registration return for the initial or additional investment, for its changes and for its cancellation.

2. The six-month deadline is removed. The previous rule required changes in holders, purpose or recipient company, and cancellations, to be registered within six months of the relevant change. That deadline disappears: from 10 August 2026 the registration may be filed at any time. The removal of the deadline does not remove the registration obligation.

3. Tax obligations are maintained. The decree clarifies that the amendment does not alter the investor's formal tax obligations, including the income tax return arising from a change in ownership of the foreign investment and indirect transfers. DIAN retains the power to require the investor or its attorney to produce evidence of the registration before the Banco de la República of the relevant transaction, sale or transfer, for subsequent control of that obligation.

4. Favourability principle. Ongoing administrative exchange-control penalty proceedings must take the amendments into account, in application of the favourability principle.

5. Implementing rules are still pending. The operational procedure, forms and registration instruments remain subject to the general regulations to be issued by the Banco de la República.

What to do now

Review pending or late registrations of substitutions and cancellations, which are no longer subject to a filing deadline. Review ongoing exchange-control penalty proceedings involving late registration, where favourability may be invoked. Decide internally whether the investor or the recipient company will file the registration, and adjust powers of attorney and responsibilities accordingly. Keep full documentary traceability: the change removes the deadline, not the obligation nor DIAN's subsequent control.