Negotiating: Maximum number of accepted investors
According to Colombian law (Decree 2920 of 1982), an individual or legal person cannot collect money from the public in a large-scale and habitual way. It is understood:
- When your liabilities with the public are composed of obligations of more than 20 people or more than 50 obligations.
- When within 3 months, it has agreed to provide funds to be managed by 20 fund managers.
How is an investor defined?
An investor is valid when an individual lends funds without receiving a service or product in return. In other words: a loan.
Debts to your suppliers or payable accounts do not qualify. Nor are the financial institutions that have provided you with loans.
Our credit partner will confirm how many investors you may have in your loan. In turn, you will have to declare the amount of investors which you already have in your liabilities. If not, you will be committing fraud, and will be held liable in civil court.