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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.
