Foreign Non-Profit Companies and Chambers of Commerce

In this circular, the entity modified paragraphs 4.4 and 4.5 of Chapters X and XIII of the Basic Legal Circular, updating the guidelines related to the SAGRILAFT, as well as the PTEE.

These modifications imply the need to adjust the obligations of Chambers of Commerce and Foreign Non-Profit Entities or also known as “ESALES Extranjeras” with permanent business in Colombia, in order to ensure their compliance with the new provisions.

Modifications

Prior to the recent modification, Chambers of Commerce were required to implement SAGRILAFT and PTEE uniformly, without distinction of resources or size. This lack of differentiation created a significant challenge for smaller organizations, which were forced to comply with compliance schemes without adequate resources. 

With the update of the regulations, an adjustment has been made based on the income of the Chambers of Commerce, according to the following criteria:

1.   Chambers of Commerce with revenues equal to or greater than 40,000 SMMLV: These entities are required to fully implement SAGRILAFT and PTEE, following the guidelines established in Chapters X and XIII of the Basic Legal Circular. 

2.   Chambers of Commerce with revenues between 9,000 SMMLV and less than 40,000 SMMLV: These entities must comply with the Minimum Measures Regime, focusing on the identification and evaluation of specific risks, such as corruption and its derivatives. However, it is not necessary to implement the SAGRILAFT and/or PTEE in its entirety.

3.   Chambers of Commerce with revenues below 9,000 SMMLV: They are exempt from the obligations described above. However, it is recommended to adopt preventive measures, such as the implementation of good management practices.

As for Foreign Non-Profit Entities, the regulations recognize their particular nature. Whenever their revenues are equal to or greater than 9,000 SMMLV, these entities must implement the Minimum Measures Regime, prioritizing the analysis of risks related to Corruption and Transnational Bribery. The requirements will be adjusted to the scope of their operations in the country, with the objective of identifying, evaluating, preventing and mitigating the risk of ML/FT.

Dates and deadlines

The deadline for the implementation of the programs, both for Chambers of Commerce and Foreign Non-Profit Entities is May 31, 2025.

Conclusion

The modification introduces a more proportional approach, adapted to the characteristics and capacities of the regulated entities, establishing obligations according to the income of each one. This update seeks to optimize available resources and promote a more efficient implementation of control and prevention measures.

Thus, the regulation reinforces the fight against illicit activities, while easing the burdens on growing organizations. These measures are expected to strengthen confidence in the Colombian business system, promoting the development of a culture of transparency and corporate ethics in line with the needs of the current environment.

How can we help you?

In Forvis Mazars we have professional experts in compliance of each one of these obligations and we put them at your disposal. In case you require support in the implementation or compliance with the obligations contained in this bulletin, please contact us at contact emails and we will gladly analyze the best way to support you in your compliance.