Through Decree 1044 of 5 August 2026, issued by the Ministry of Finance and Public Credit, article 2.17.5.1.1 of Decree 1068 of 2015 was amended in order to harmonise and unify the term applicable to the registration of substitutions and cancellations of international investments with the term provided for international investments made without the channelling of foreign currency.
As a result of this amendment, the six-month deadline that previously applied to the registration of substitutions and cancellations of international investments has been eliminated.
Substitutions and cancellations may be registered at any time
Following the amendment introduced by Decree 1044 of 2026, substitutions and cancellations of international investments may be registered at any time with the Foreign Exchange Information System of Banco de la República (Colombia’s central bank).
The amendment aligns the treatment of these transactions with that applicable to international investments made without the channelling of foreign currency.
Accordingly, the change eliminates the specific six-month term that previously applied to these registrations.
Formal tax obligations remain unchanged
The elimination of the deadline for the foreign exchange registration of substitutions and cancellations of international investments does not alter investors’ formal tax obligations relating to the income tax return arising from the change in ownership of the foreign investment and from indirect transfers.
These obligations continue to apply in accordance with article 1.6.1.13.2.19 of Decree 1625 of 2016.
For this reason, the new treatment of registration with the Foreign Exchange Information System should be analysed separately from any formal tax obligations that may arise from the relevant transactions.
