Ministry of Finance Opens Consultation on Investor Classification Regime
31 julio 2020

On July 30, the Ministry of Finance, through the Financial Regulation Unit (URF, for its acronym in Spanish), opened a public consultation on a draft decree and a technical document to regulate the investor classification regime. Interested parties may send in their comments until August 13, 2020, by writing to [email protected] and [email protected], or by clicking here

The documents establish that in order for an investor to be considered a professional, they must be able to prove that they have the necessary experience or knowledge to adequately manage the risks inherent in any investment decision, and have assets equal to or greater than USD 142,000. Other conditions taken into account contemplate the possession of a securities investment portfolio equivalent to USD 710,000 and the need to disclose the number of disposal or acquisition operations carried out over the last period.

On the other hand, the National Tax and Customs Direction (DIAN, for its acronym in Spanish) issued a resolution adopting transitory measures to perform exchange and tax operations using virtual means. The measure seeks to implement the guidelines established by Decree 807 / 2020, applying a virtual control mechanism in response to the pandemic. The regulation is already in force.