On August 4, 2021, statutory bill No. 196/2021, "whereby provisions for the creation of Special Environmental Courts in the Colombian State and other provisions are issued" was filed in the House of Representatives.
The Ministry of Environment and Sustainable Development recently issued a draft decree, which will include a new section to Decree 1076/2015, to establish and modify the activities, requirements and procedure for subtraction of areas of national and regional forest reserves, contained in Resolution 1526/2012.
Agriculture is currently the sector that generates the greatest demand for water for the development of its productive activities. According to the United Nations - UN and the World Bank, 70% of fresh water extracted in the planet is used for irrigation of crops and livestock activities. In Colombia, these activities demand 43% of the total available water and 48% of the water used for crop irrigation is wasted as a result of factors such as inefficient use of water resources, poor maintenance of supply infrastructures, among others.
Climate change is one of the main challenges to be faced in the coming years. To meet the goals set out in the Paris Agreement and the Sustainable Development Goals, Colombia has committed to undertake the actions and investments necessary to reduce greenhouse gas emissions by 20% by 2030.
On August 27, an Arbitration Court of the International Centre for Settlement of Investment Disputes (ICSID) ordered Colombia to pay US$21.417 billion in compensation, procedural costs and defense expenses in favor of a foreign investor. Although a greater conviction was avoided, the result of the process raises certain reflections on the actions of the Nation in these events.
It is relevant for the companies in the country to have in mind the European General Data Protection Regulation (GDPR), which came into force on May 25, 2018 and which aims to protect the personal data of people who are in the states members of the European Union (EU).
In view of the growing migratory phenomenon of Venezuelan citizens towards our country, the Ministry of Labor and the Ministry of Foreign Affairs issued on January 28, 2020 Decree 117/2020, which creates the Special Permit of Permanence for the Promotion of Formalization (PEPFF as per the Spanish acronym) as a transitory mechanism to regulate the migration of Venezuelans in Colombian territory, so that they may have access to fixed-term employment contracts or service agreements.
The Ministry of Economy and Finance, the General Revenues Directorate (DGI) of the Republic of Panama and the National Customs and Taxes Directorate -DIAN- of the Republic of Colombia announced on March 9, 2020 that the automatic financial information exchange agreement has been signed.
The tax regime of the so-called Colombian Holding Companies (CHC) was introduced with the issuance of Law 1943/20181 (a rule declared unenforceable by the Constitutional Court) with the purpose of "generating jobs and growth in foreign direct investment (...)"2: The regulations in terms of CHC were resumed in the same terms of the foregoing by Law 2010/20193, which provides in that regard:
3 years have passed since the issuance of Decree 613/2017, which regulated the use of cannabis for medical and scientific purposes in Colombia. It established the rules, conditions or obligations applicable to those natural or legal persons, public or private, of Colombian or foreign nationality and domiciled in the country, engaged in any of the following activities: import, export, cultivation, production, manufacturing, storage, transportation, commercialization, distribution, use of seeds, cultivation of cannabis plant, its extracts and finished products containing it.
In the American legal system, the direct action could be defined as the “claim brought by the shareholder in his or her own name, which cause of action belongs to the shareholder in his or her individual capacity, and that arises from an injury directly to the shareholder.” (1)
The editorial Chambers & Partners recently published the guide on the Colombian real estate sector, whose authors are our lawyers Juan Manuel González, Felipe Pinilla, Camilo Caycedo, and Julián Felipe Rojas. It explains the legal framework and how to do business in the Colombian real estate sector. The guide is a handy source of information, especially for foreign investors, taking into account the firm's specialized knowledge and experience in this area of practice.
The Real Estate guide for Colombia presents the legal framework and the way to do business in the Colombian real estate sector. In its 2019 edition, it has the participation of our lawyers Juan Manuel González, Ángela María Caicedo and Julián Rojas.
Social housing and financial inclusion have been two of the most pressing issues for the Colombian government during the last 20 years. Lack of resources, issues with the allocation of risks, problems with the generation of land for the purpose of social projects, an informal economy that is neither taxed nor monitored by any form of government, and high costs of financial services are just some of the causes of the current situation with regard to the qualitative and quantitative social housing deficit.