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Why Hamkke?

Hamkke (함께) is a Korean word than means "Together", it is the pillar of our company, because we believe in teamwork, we believe that different points of view mean complementarity, and reaching synergies will achieve the desired objectives. Our mission is to be the trustworthy advisor to your company, who can bridge the gaps of cultural differences to promote the best ways of doing business so as to make deals happen.

Mission

Provide reliable and high quality advice, accompanying our clients achieve their goals, and enhance their profitability, through the implementation of a strategic model based on an ethical approach, of commitment and sustainability. Our company works with an integral approach based on results, tailored to each client’s need.

Vision

Hamkke will be known as a leading specialize consulting firm of the Pacific Rim, successful in adding value to their clients. Our firm specializes in business strengthening to improve the ability of our customers to do business within this region.

OUR VALUES

Expertise

We provide our clients with knowledge and professionalism with international standards.

Results oriented

We are a results oriented company. We support our customers reaching their goals as agreed in a partnership.

Inclusion and diversity, the real teamwork

For Hamkke, different points of view is a profitable approach. We are a suitable, high performing team. We have implemented protocols where diversity and inclusion are the main topics in our environment.

Global Mind

We move in a world that converges stronger through technology and trade, providing access to a variety of opportunities worldwide. That is why; Hamkke believes that a Global mind is one of its strategies of value generation.

Ethics and Social Responsibility

We are convinced that maximizing profits does not mean sacrificing ethics and social responsibility in an organization. Instead these are the best tools for sustainable growth. In Hamkke we apply the highest ethical standards in all our making decision processes transforming them into corporate habits. We place our client needs ahead of ours, designing and performing the best roadmap that allows a significant advance of our clients in a sustainable way.

FDI Incentives in Colombia

Por: Miguel Carrillo Naranjo - Hamkke Consulting


The ongoing constitution in Colombia is from 1991, which also resolute the investment framework through law 9 which main objectives are to promote the Colombian economy in the world in order to increase competitiveness in the global market, by stimulating exports, facilitating financial transactions abroad, stimulating FDI in the country, and creating adequate control mechanisms to track capital movements among others.

 

Incentives in Colombia to Attract FDI

 

Legal Stability Contracts

It were created by the Colombian Government in 2005, aimed protect investors from adverse changes in national legislation. These contracts have a term of between 3 and 20 years (subject to negotiation); the Colombian government commits itself not to change the legislation concerning the investor.

 

Double Taxation Agreements (DTA)

Double taxation agreements negotiated by Colombia are in accordance with international standards and include the principle of non-discrimination.

According to this principle, the terms of a double taxation agreement cannot be more burdensome for taxpayers than those provided for in national legislation.

This principle is based on the respect for equality of conditions among residents of a State and is expressed in the event that the national standard provides for something more beneficial to taxpayers than what was settled in the Agreement. In these agreements, Colombia has negotiated income tax and supplementary income. Indirect taxes such as sales taxes (IVA) are beyond the reach of double taxation agreements.

 

Public-Private Partnerships (PPP)

The Congress of Colombia approved in December 2011, the new law on Public-Private Partnerships, an excellent tool for MNCs to propose and execute profitable and viable projects for both parts. The main characteristics of this law are as follows:

Two components: Within public resources or 100% private.

 

The Colombian government has been developing a more aggressive strategy to attract FDI, the main investment incentives, according to (PROEXPORT Colombia, 2012) are:

 

Permanent Free Trade Zones (PFTZ): are geographical areas of no less than 20 hectares, where various companies establish themselves to operate. These Free Trade Zones have two types of users. The first is the Operating User which is the legal person in charge of running the Free Trade Zone, and the second is the Industrial User that can be for producing Goods or providing Services.

Single Enterprise Free Trade Zone (SEFTZ): Allows the company to establish anywhere in the country the company must be no more than six months old, and that the investment requirement is made after the Free Trade Zone Status is granted.

Among the benefits for PFTZ and SEFTZ are single 15% income tax rate; the granting period is 30 years that can be renewable for the same period, all the capital goods from around the world introduced in the FTZ are discharged from VAT or custom duties, goods exported from a FTZ will benefit from the trade agreements signed by Colombia except Peru, and exports may be made from the FTZ to the rest of the national custom territory. Furthermore, raw materials, parts and inputs sold from a national custom territory to FTZ users will be VAT excluded, and the possibility of partial processing outside the FTZ for a period up to six months.

Plan Vallejo Special Import – Export System for Services:  is a foreign trade instrument created to promote Colombian service exports. With this tool, service exporting companies, including consortium and temporary unions, may request authorization from the Colombian National Tax and Customs Office (DIAN) to import capital goods and spare parts (the latter only for air transportation services) totally free of import tariffs and VAT, in exchange for providing exportable services (1.5 the FOB value of the imports’ capital goods). The main benefits are the tariff suspension for imports of capital goods and their parts for the duration of the program, and VAT deferral on the imports of capital goods and their parts. The sectors covered by Plan Vallejo are services provided to Companies, communication services, distribution services, teaching services, transportation services, social and health services, tourism and travel-related services, construction services and related engineering services.

 

Other Incentives

There is a tax exemption depending upon the economic sector for a determined period of time that goes from 0% income tax rate to the general tariff of 33%, the period for the sectors benefited by this measure are:

  1. Hotel services provided in hotels remodeled and/or expanded until December 31, 2017, for a period of 30 years.
  2. Ecotourism services during 20 years beginning in 2003.
  3. Late yield crops planted until December 31, 2014, for a period of 10 years from the beginning of the production.
  4. New medicinal and software products manufactured in Colombia with a high content of national scientific and technological research and covered by new patents or copyright until December 31, 2012.
  5. Electric power sales produced by generating companies based on aeolic resources (wind), biomass or agricultural waste until January 1, 2018.
  6. River’s transportation services provided with shallow-draft vessels and barges that loaded have a draft lower than 4.5 foot, until January 1, 2018.
  7. Publishing companies devoted to publishing books, magazines, brochures or scientific or cultural collectible series are exempt until December 31, 2033.

 

If you are interested in doing business in Colombia do not hesitate to contact us, we will be pleased to become your trustworthy advisor.

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