In the face of social unrest and renewed mobility restrictions, it looks like durable economic recovery in Colombia will be delayed until 2022. The OECD reports that GDP is projected to grow by 7.6% in 2021 before easing off to 3.5% in 2022 as uncertainty surrounds fiscal prospects next year. Private consumption and investment are driving this growth with little risk from inflation or recession on the horizon for now, but further restrictions could weaken the progress made so far. The World Bank expresses concern though, that the COVID-19 crisis may leave Colombia’s economy in a precarious state. The country will only be able to move forward if it is successful at handling its debt and deficit, as well as addressing structural bottlenecks. In 2019, Colombia ranked #67 in the World Bank’s Ease of Doing Business index (Sources: OECD, World Bank, and Nasdaq).
A trusted professional employment organization with in-depth knowledge of the market in Colombia, XML International provides you with end-to-end personalised solutions to recruit and manage remote team members for your activities in Bogota or any other city in Colombia, regardless of the size of your organisation or your industry.
Employees will be employed pursuant to local labour laws, and all required social security and taxation will be paid to the local Authorities.
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Colombian Peso COP
Minimum wage in Colombia is 908526 per month
Normal working hours in Colombia are 8 hours a day and 48 hours per week.
Workers are entitled to 15 consecutive working days of paid annual leave after completion of 12 months of continuous service
Workers are entitled to sick leave for up to 180 days as follows:
Female workers are entitled to a maximum of eighteen weeks of maternity leave with full pay including 1 week of compulsory prenatal leave and 16 weeks of postnatal leave. Maternity leave can be extended up to 2 additional weeks in case of multiple or premature births. Maternity leave is awarded with full pay and is paid through social security system.
Fathers are entitled to paid paternity leave on presenting the birth certificate. They are entitled to 8 working days of paid paternity leave for children born to a spouse or partner. The birth certificate must be submitted to the EPS within 30 days of birth.
Employers have to give 30 days notice, while the employee could terminate the employment contract any time without notice.
Probation periods in Colombia are perceived as the initial stage of the employment agreement, allowing the employer to evaluate the employee’s skills, and the employee to evaluate the working conditions. During the probation period, the employment agreement may be unilaterally terminated at any time without prior notice, and without the payment of legal severance upon termination without cause.
The standard VAT rate is 19%.
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XML International, one of the best workforce solutions and employer of record services providers for Colombia, supports the set-up and the management of your international workforce for all your activities in Colombia. Our invaluable input consists of streamlining and handling for you the complete employment lifecycle of your teams in Colombia. We give you all the keys to handle you staff in Bogota or any city in Colombia. XML’s knowledge of labour Colombian laws, tax and social security system, and employment regulations allows you to tackle the challenges of local compliance in Colombia, navigate all the local complexities and avoid pitfalls.
Among our top priorities, compliance with Colombian employment regulations and labour laws is number one. In addition to talent acquisition, recruitment services, and workforce management, we also ensure that our clients’ workforce management in Colombia is aligned with Colombian tax and social security rules and the latest immigration processes, including visas and work permits.
Here is the list of our core services supporting your activities in Colombia.
Take advantage of the targeted outsourcing solutions proposed by XML International for your expansion in Colombia or for your employees already based there. We offer a comprehensive series of bespoke and scalable outsourcing solutions specially designed for the Colombian market.
They range from professional employer organization employment (PEO), employer of record, and contingent workforce employment services, to help you grow effortlessly and successfully in Colombia without any complications. We can also help you source, recruit, and onboard new team members locally, even if you don’t have an office in Colombia.
XML provides you with everything you need to start doing business in Colombia or to optimize your business if you are already operating there, leading to significant bottom-line savings and getting your business activities up and running in just days. Get in touch with the XML team to learn how we can boost your activities in Colombia in a cost-effective way.
Get started now and make the most of business in Colombia today!
XML has expertise and resources to meet your organization’s workforce needs wherever, and in whichever field these might be.