IMPLEMENTATION LEVEL

National

AFFECTED FLOW

Inflow

ANNOUNCED AS TEMPORARY

No

NON-TRADE-RELATED RATIONALE

No

ELIGIBLE FIRMS

all

JUMBO

No

TARIFF PEAK

No
← back to the state act
Inception date: 15 Jul 2009 | Removal date: open ended
Still in force

FDI: Entry and ownership rule

On 15 July 2009, Colombia's National Congress adopted Law No. 1328 improving the market access for foreign insurance companies and allowing Colombian residents to purchase various types of insurance policies abroad. The new regulation allows foreign entities to sell their insurance products for maritime international transportation, international commercial aviation and space launching and transportation. Furthermore, the new law also allows local insurance agents and foreign insurance brokers to carry out insurance brokerage activities in Colombia and with each other. 

AFFECTED COUNTRIES

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