Colombia’s regulations on end beneficiary records

Colombia has set up criteria for identifying end beneficiaries of legal entities or structures lacking a legal person, and also for the method of compiling the related data on records. Starting this year, Colombian non-profit or for profit companies or entities (residents for tax purposes), and others non-resident but actually established within Colombia (including branches), as well as other structures classified in accordance with certain requirements, will have the obligation of submitting information regarding end beneficiaries.