Negotiating: Maximum number of accepted investors
Invest Latam complies with decrees 4334 of 2008 and 1068 of 2015 regarding the non-collection of massive
amounts of money. Here we give the definition about the massive collection of money:
Massive fund raising, Article 220.127.116.11, Sole Regulatory Decree 1068 of 2015 National Level:
For the purposes of Decree 2920 of 1982, it is understood that a natural or legal person receives money from the public in a massive and habitual way in any of the following cases:
When their liability to the public is composed of obligations with more than twenty (20) people or more than fifty (50)
obligations, in either of the two cases contracted directly or through an interposed person.
Liability to the public means the amount of the obligations contracted for having received money as a mutual or any other in which the provision of goods or services is not provided as consideration.
- When, jointly or separately, it has concluded in a period of three (3) consecutive months more than twenty (20) mandate contracts in order to administer monies of its constituents under the modality of free administration or to invest them in securities or securities in the opinion of the agent, or sold securities of credit or investment with the obligation for the buyer to transfer ownership of securities of the same kind, at sight or within an agreed period, and against reimbursement of a price. In order to determine the period of the three (3) months referred to in the preceding paragraph, the initial date may be considered as that which corresponds to any of the mandate contracts or sales operations
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.