Doing Business in Latin America and The Caribbean: Columbia

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Colombia is located in the northernmost part of South America. Its population is estimated at over 45 million people, with at least 10 million living in the capital city of Bogotá. Colombia’s main language is Spanish.

Colombia has a democratic and centralized government. It is divided politically into departments, districts and municipalities.

The President of the Republic is the Chief of State and is elected for a four year term. Reelection is available for an additional term. The Congress is divided in two chambers, one of national constituency and one of territorial constituency. The courts hold power over the administration of justice. In May 2010, Juan Manuel Santos was elected as Colombia’s president and he will be in office until 2014.

Colombia’s Gross National Product (GNP) has constantly increased over the past years. Up to the second trimester of 2012, it closed with a 4.4% increase.

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