Global sanctions guide

Cayman Islands
  1. Does Colombia have a sanctions regime in place?


  1. Does Colombia implement UN sanctions?

Yes. The Ministry of Foreign Affairs is the entity in charge. However, currently there is a grey area regarding regulation on the restrictions of exports from countries like North Korea, Sudan or Iran to Colombia.

  1. Does Colombia implement an autonomous sanctions regime?


  1. What is the nature of the sanctions regime in Colombia?

A new legal internal requirement has recently been introduced for companies in Colombia. Under the Superintendence of Companies, companies are obligated to implement policies against money laundering and financial of terrorism (SARLAFT). One of the obligations for these companies is that they must inform the General Attorney if any commodity, goods, assets, which they have knowledge in the middle of its economic activity, are under control or administration of any country, person, or company that are registered in UN Resolution No. 1267 of 1999.

  1. Does Colombia maintain a list of sanctioned individuals and entities?


  1. Are there any other lists related to sanctions?


  1. Does Colombia have a licensing or authorization system in place?


  1. What are the consequences for a breach of sanctions in Colombia?


  1. Who are the relevant regulators in Colombia and what are their contact details?


Contributor law firm

Jaime Herrera, Posse Herrera Ruiz Carrera 7 No. 71-52 Torre A Piso 5 Bogotá – Colombia Zip Code 110231