Fri. Jul 30th, 2021

Financial Planner

Tips, tricks and guidline for financial planner

How to renew the commercial registration by internet?

commercial registration

It is the obligation for all traders to carry out this process before March 3 we tell you how to do it. What are the benefits that would receive to make the renewal within the term? Commercial registration is the record that certifies the existence and constitution of companies or establishments. Therefore, those both natural and legal persons must register.

commercial registration

Carry out the renewal annually. According to the Chamber of Commerce, this register allows to exercise any commercial activity and publicly accredit the quality of the merchant. This document contains all the information of the merchants of the companies or establishments data that can consult the customers who want to contract with said businesses. Therefore, these records will allow you to expand the portfolio of both customers and suppliers to find new supply or demand niches.

In 2016 the active trades in Bogota and Cundinamarca were 694,000, which compared to 2015, these increased by 6%. Of the assets, 444,723 are natural and legal persons, and 249,358 belong to commercial establishments. In fact, Monica de Greiff, president of the CCB stated that the region is the one with the most companies in Colombia. Is the main driver of the economy of the country with a contribution to the national GDP close to 30%?

The renewal of the commercial registration

The first thing to keep in mind is the payment deadline which is until March 31. Then you must have all the documents and information that you are asked, such as the ISIC code which is the economic activity of the company or establishment and the financial statement as of December 31 of the previous year.

The CCB clarifies that if you do not have the final balance you can use the test and once you have the definitive you have to submit it for the corresponding and update. Now, you must keep in mind that in order to settle the amount payable, the total value of the asset that you report is taken into account.

On the other hand, we remind you that the registration renewal is an obligation, which is not exempt any company nor is it makes some sort of discount. If you fail to comply with a process you will be sanctioned with economic fines of up to 17 legal minimum monthly salaries in force that is, about $ 12,541,089.

This sanction is really imposed by the Superintendence of Industry. Commerce (SIC), which will also be interposed in the event that traders fail to comply with some of the following obligations set forth in article 19 of the Commercial Code.