The obligation to transmit Form No. 15 is eliminated.

Circular 28/09/2018

Last September 24 of the current year, the Board of Directors of Banco de la República issued Bulletin No. 33, through which the amendments made to External Regulatory Circular DCIN-83 of May 25, 2018, regarding the procedures applicable to foreign exchange operations, are published.

The amendments made affect various matters of the foreign exchange regime, such as: external indebtedness, international investments, clearing accounts, hydrocarbons and mining sector, among others. The document also prescribes some changes in the minimum data required for some operations, as well as in the forms still prescribed by Banco de la República.

Of special importance is the modification introduced to the international investment regime, through the elimination of the obligation to transmit form No. 15 "Equity reconciliation - companies and branches of the general regime" and the "Equity reconciliation report of companies with shares registered in a stock exchange" as from the 2017 fiscal year.

This means that article 7.2.1.6. Statistical information on direct investment, of chapter 7 of DCIN-83 of May 25, 2018, which established the annual obligation, in charge of the companies receiving foreign investment, to transmit to the Department of International Exchange (DCIN) of the Bank of the Republic the form mentioned above, provided that they were not obliged to submit year-end financial statements to the Superintendence of Companies, is modified.  In a similar sense, Article 7.2.2 ibidem, which required the presentation of Form No. 15, in the cases of foreign capital investment in participations issued by a company resident in Colombia and registered in the National Registry of Securities and Issuers (RNVE), is modified.

It is noteworthy that Article 58 of Bulletin No. 33 of September 24, 2018, eliminates this obligation as of the 2017 fiscal year, whose transmission dates expired last August 15 of the current year.