The formalization of your company is a necessary procedure for its creation and business growth. Therefore, the structure and organization to be implemented initially starts from the choice of incorporating the company as a natural person merchant, assuming all rights and obligations in a personal capacity, or starting from the incorporation of the company, giving rise to the legal entity, being the fictitious person capable of exercising rights and contracting obligations, and of being represented judicially and extrajudicially.
In that sense, the creation of the company must comply with various regulatory parameters to achieve its formalization. Therefore, this article aims to provide the most relevant guidelines to consider when formalizing the company as a legal entity, as follows:
- Mainly, the legalization of the company starts from the incorporation and formalization of the corporate type established by the partners or shareholders who will invest in it.
In this way, legal compliance will begin with the incorporation document, which may be by public deed or private document.
- Once the company is incorporated, it must be registered with the respective Chamber of Commerce of the company's domicile, which is essential for the formalization of the company and compliance with legal obligations.
The documents to be submitted at the time of the corresponding registration will be: the identifications of the partners or shareholders and the legal representative, the incorporation deed, the bylaws of the company, the acceptance of positions, and any additional documents required by each entity.
During this procedure, the Chamber of Commerce must be requested to provide the books for recording partners or shareholders and minutes.
- It is necessary to proceed with the registration in the Single Tax Registry (RUT), which is the document that allows identifying, classifying, and locating the company for compliance with its administrative obligations before the DIAN.
The corresponding procedure can be carried out virtually, which will grant the Tax Identification Number (NIT), which will allow identifying and certifying its economic activity for compliance with its tax obligations.
- After the formalization of the company, it is necessary to address the financial aspect of the company. Therefore, in order to comply with the parameters indicated by the DIAN, the company must open its bank account. It is suggested to evaluate all the pros and cons of different financial entities, in order to choose the one that provides the greatest benefit.
- Now, once the company is in operation, it must comply with the procedure corresponding to the invoicing resolution, which is the process that authorizes invoicing by the DIAN.
In line with the above, once the formalization and legalization of the company is completed, it must proceed to comply with the regulatory requirements that must be met according to its economic activity being carried out.