Colombia, a country full of unlocked Potential
4. Colombia offers the best protection for foreign investors
Colombia is the fifth country in the world and first in Latin America in investor protection, according to the World Bank (2011). In Colombia, foreign direct investment is accepted without discrimination in all categories, except some sensitive areas such as national defense, surveillance, land acquisition in border regions and handling or possession of toxic or radioactive waste. Colombia ensures the settlement of disputes between investor and the state. Any violation by the state in accordance to an international agreement can be claimed by the investor.
Before expanding your business to a new country, you should be aware of its unique local customs and culture. Colombia is no exception. It is a vast country with a lot of cultural diversity where the business etiquette varies as we travel from one part of the country to another. In most of the big cities of Colombia, business is done more formally than in smaller cities or in the coastal regions. However, as in most countries in Latin America, business success relies a lot on personal relationships that build trust and provide a certain compensation for a weak legal system. Using the support of a reliable local partner can help you save time, resources and ensure your compliance.
If you require more information on how to expand your business to Colombia, contact Daniel Breitenmoser at firstname.lastname@example.org.
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