monday 215pm- asorlac update - iaca martin salcedo · asorlac@ccb.org.co. title: microsoft...

IACA2017CONFERENCE

ASSOCIATIONOFTHELATINAMERICAN

ANDTHECARIBBEANREGISTRARS

Increasingtheexchangeofinformationaboutbestregistrypracticesofmembercountries,theirrolesandresponsibilities,theirmanagementmodelsandtechnologiesusedtorespondtochangesandtrendsintheinternationalcontextrecord.

Topromotealliancesandfosterregionalcooperationtoimprovetheefficiencyandeffectivenessofregistrymattersandasaresult,itpropendstostrengthencompetitivenessinthebusinesssector.

HOW

Objetive

RegisterAuthorities

Members15

Countries

InternationalCooperation

TheIFC,ascooperateagency,hasbeensupportingtheworkofASORLACsinceitscreation.Withaviewtostreamlineandsimplifyprocessesinordertoimprovetheefficiencyofbusinessrecords,takingadvantageofthepositionthattheregistryauthoritieshaveineachofourcountries.

WeareawarethatLatinAmericahasthepotentialtobecomeanexampletotheworldinregardstoovercomingbarriersinthesetopics,expectingbetterresultsfortheregioninnextyear's“DoingBusinessReport”.

Bymeasuringthroughquantitativeindicatorsonbusinessregulations,comparedacross190economiesworldwide,thereportranksthemonthe“easeofdoingbusiness”index.

OneofthemainobjectivesofAsorlacistostrengthenandharnessthepotentialoftheregistryauthoritiesrole,inordertoinfluencepolicyreformsandpublicpoliciesineachLatinAmericancountry.

Thisleadstobetterresultsintheareasevaluatedasdeterminants,bythereport,fortheeaseofdoingbusiness.

StartingBusiness

ProtectingMinorityInvestors

ConstructionPermits

StartingBusiness

Paying Taxes

GettingElectricity

ResolvingInsolvency

RegisteringProperty

EnforcingContracts Getting Credit

Trading Across Borders

*DoingBusiness2017arecurrentasofJune1,2016

MéxicoretainsitsplaceasthebestpositionedLatinAmericancountry.Ranked47thworldwide

Colombiamaintainsthesecondplaceinobtainingcreditintheworldandhasimproveditspositionintherankingofcreationofcompanies.

DoingBusiness2017“EqualOpportunityforAll”

ColombiaGettingCredit

Law1676/2013onsecurityinterestsovermovableassets

In2013Colombiapassedanimportantregulatoryreformthatfacilitatedandincreasedaccesstofinancialcreditobtentiontothewholecorporatesectoratalllevels.

Thisenabledbusinessestograntanonpossessorysecurityrightby

meansofmovableassets.

Pursuanttothenewlaw,allsecurityinterestfilingsmaybemade,modified,extended,cancelled,transferredandsearchedinthenationalcentralizedsystem.

Colombiaisplacedasthesecondbesteconomyin

gettingcredit

Output

AccountsPayable

IntellectualProperty

MachineryLikewisethelawestablishedamodernlegalsystemforsecuredtransactionswhereinalltypesofmovableassets,suchasinventory,machineryandcrops(presentorfuture),maybeusedascollateraltosecurealoan.

TheNationalmovableassetspublicregistry,providestransparency,reducesthecosts,andintroducesaflexiblemechanismforconflictresolution.

Inventory

Morethan100financialinstitutionsareparticipatingintheregistryoflenders.

SomeofColombia’slargestbankshaveprovidedloanssecuredbymovablecollateralincludingmachines,vehiclesandequipmentinsectorsuchasmanufacturing,textileandeventhingslikericecrops

SincetheregistrywentliveinMarch2015,therehavebeenoveronemillionregistrationsvaluedatmorethan$93billionUSD.Over10%oftheseloansrepresentnewcredits.

Colombia–StartingaBusinessTheBogotáChamberofCommercehasreducedthetimeneededtostartabusinessbyimplementinganelectronicentityformationservicewhichallowsthestartuptoregisteracompanyinlessthan24hours.

Unlikeothercountriesintheregion,Colombiahasdevelopedaservicethatverifiesthelegalrequirementsofthedocumentationandpreventpotentialfraudbytheuseofelectronicsignatures.

Likewise,theServiceautomaticallygeneratesthetaxidentificationnumber,allowingtheentrepreneurtofulfillthelegalstepsofincorporatingacompany,fromanywhereintheworld.

TransferofBestPractices/ColombiaParaguay

TheGovernmentofColombiahasmadesignificantprogresssincetheenactmentofLaw1258/2008inColombia,whichintroducedanewtypeofbusinessentity,theSimplifiedStockCorporation(SAS),whichhasreducetheincorporationformalitiestoasimplefilingbeforethemercantileregistry,streamlinedcostsandformalisticrequirements,clarifiedshareholdersliabilityaslimited,reinforcedtheprincipleoffreedomofcontractandenabledarbitrationandadministrativeadjudicationtosupersedeinefficientjudicialprocedures.

Takingintoaccountthesuccessfulapplicationoflaw1258inColombia,AsorlaciscurrentlyworkingwiththeMinistryofIndustryandCommerceofParaguay,whichisresponsiblefortheUnifiedSystemofOpeningandClosingCompanies,foradviceontheTransferofGoodPracticesthatallowimplementmodellaw1258inParaguay,inordertopromotethereductionofformalitiesofincorporationandspeeduptheregistrationofcompaniesinthatcountry.

¡Thankyou!

MartinFernandoSalcedoVargasmartin.salcedo@ccb.org.co

Contact:

asorlac@ccb.org.co