We support companies that use compensation accounts in Colombia to manage foreign-currency transactions, comply with foreign exchange reporting, control movements, legalize imports and exports, support transactions with non-residents, and reduce risk with the Central Bank and DIAN.
At Hub Legal we support the comprehensive management of compensation accounts, from initial structuring to ongoing operation, report audits and response to information requests.
This practice is designed for companies that need a foreign exchange lawyer in Colombia, a foreign exchange consulting firm, a foreign exchange outsourcing team or a technical review of international operations, compensation accounts, foreign exchange exogenous information, external debt, international investments, imports, exports and payments abroad.
We support the review of conditions, documentary support and registration of compensation accounts.
We support reporting, reconciliations, transaction review, operation classification and control of periodic obligations.
We review advances, payments, reimbursements, outstanding balances and supporting documents related to imports, exports and other items.
We validate consistency between transactions, tax returns, accounting records, customs documents and regulatory reports.
We support the review of balances, final reports, supporting documents and steps required for closing.
We prepare responses to the DIAN or other authorities for inconsistencies related to compensation accounts.
We design procedures, review matrices, responsible parties, calendars and approval workflows.
To strengthen our clients’ operational control, we work with Akountik, partner software that facilitates transaction uploads, information consolidation, documentary backup, legalization control and the generation of regulatory reports.
More orderly processes and less internal rework.
Better-organized supporting documents, transactions and reports.
Information ready for audits, reviews or information requests.
Early identification of recurring inconsistencies and errors.
Clear procedures for treasury, accounting, foreign trade and compliance teams.
We can help you identify risks, validate reports, review transactions and define operational improvements.
