A startup in Colombia usually incorporates as an S.A.S., a Sociedad por Acciones Simplificada. Once registered with the Camara de Comercio and holding a RUT with a NIT, it opens a peso account with a traditional bank, and adds a cross border platform to receive funds from abroad. Foreign investment into the company is registered with the Banco de la Republica through the exchange channels.
Suits Startups best
A peso bank account for the S.A.S., paired with Payoneer, Wise or Airwallex for foreign currency receiving.
Typical monthly fee
From no monthly fee at cross border platforms to a monthly handling fee, the cuota de manejo, at traditional banks, as of 29 November 2025.
Foreign capital position
Foreign investment is registered with the Banco de la Republica through the exchange channels, which supports later repatriation. Verify with the provider and an adviser.
Providers that fit
Several. Traditional banks accept registered companies, and platforms handle international receiving.
Fees and features as of 29 November 2025Last reviewed 29 November 2025
General information, not financial, legal, or tax advice. Verify current terms and eligibility with the provider before applying.
A Colombian startup is usually an S.A.S., registered with the Camara de Comercio and holding a RUT with a NIT. It opens a peso business account at a traditional bank such as Bancolombia, BBVA Colombia or Davivienda for payroll, cards and local operations, and adds Payoneer, Wise or Airwallex to receive funds from customers and investors abroad. When a startup raises foreign capital, the investment is registered with the Banco de la Republica through the exchange channels so dividends and capital can be repatriated later. Figures below are shown as of 29 November 2025, so confirm current terms with the provider.
What Startups in Colombia need from a business account
An early stage company needs an account in the name of the S.A.S. that opens quickly, keeps costs low while revenue is small, and handles both peso operations and foreign currency. Banks ask for the certificate of existence and legal representation from the Camara de Comercio, the statutes, the RUT, the shareholders composition, and identification for the legal representative, and apply SARLAFT checks. A foreign legal representative usually needs a valid Colombian visa and a Cedula de Extranjeria. When foreign investors put capital into the company, the funds enter through an intermediary of the exchange market or a registered cuenta de compensacion and are registered as foreign investment with the Banco de la Republica. Cross border platforms can sit alongside the bank for international receiving. Confirm the current requirements with the provider, as of 29 November 2025.
B
Bancolombia
Peso business account for the S.A.S., with app and branch access, payroll, cards and foreign currency services subject to the exchange regime.
Best for
Local operations and payroll
Monthly fee
Monthly handling fee, varies by package
P
Payoneer
Receiving accounts in several currencies, with payout to a Colombian peso account. Useful for early international revenue.
Best for
Receiving funds from abroad
Monthly fee
No monthly fee on standard use, receiving and withdrawal fees apply
These providers accept business customers in Colombia. Fees and eligibility shown as of 29 November 2025. Confirm current terms with the provider before applying.
Most startups in Colombia use the S.A.S., the Sociedad por Acciones Simplificada, because it is quick to incorporate and flexible on shares and governance. The company is registered with the Camara de Comercio and obtains a RUT with a NIT from the DIAN. Some founders also incorporate a holding company abroad, which is a separate decision, so verify your structure with a qualified adviser. This is general information, not advice.
How is foreign investment into a Colombian startup handled?
Foreign capital invested in a Colombian company is generally registered as foreign investment with the Banco de la Republica through the exchange channels, which supports later repatriation of dividends and capital. The funds enter through an intermediary of the exchange market or a registered cuenta de compensacion with a declaracion de cambio. Confirm the current process with the provider and a qualified adviser, as of 29 November 2025.
Can an early stage startup open a business account in Colombia?
Yes, once the S.A.S. is registered with the Camara de Comercio and holds a RUT with a NIT. Banks ask for the certificate of existence and legal representation, the statutes, the RUT, the shareholders composition, and identification for the legal representative, and apply SARLAFT checks. A foreign legal representative usually needs a valid Colombian visa and a Cedula de Extranjeria. Verify with the provider.
Should a Colombian startup use a digital or a traditional bank?
It depends on the need. A traditional bank covers peso operations, payroll and foreign currency services under the exchange regime, while cross border platforms such as Payoneer, Wise and Airwallex help receive and convert foreign funds. Many startups use both. Compare the fees and features for your usage and confirm current terms with the provider, as of 29 November 2025.
Fees, features, and eligibility change and vary by region. This page was last reviewed on 29 November 2025. Confirm current terms with the provider before applying.