meta_id 3432624

On August 25, 2026, the Central Bank of Colombia  published External Regulatory Circular DCIP-83, which addresses procedures applicable to foreign exchange operations. The circular was released in Bulletin 22 of 2026 from the bank's Board of Directors. The circular applies to the main office and branches of Banco de la República, foreign exchange market intermediaries, and natural and legal persons conducting foreign exchange operations and international investments. The regulation establishes procedural requirements governing how these entities must conduct currency exchange transactions and related international investment activities within Colombia's financial system. Key provisions of the circular are: The circular sets rules for foreign currency channeling, international investment registrations, and reporting requirements regardless of when the transaction occurred. A substitution of a foreign direct investment (FDI) is defined as " the replacement of the investment's owners with other non-resident owners, as well as a change in the intended use or in the recipient company of the investment, including the assignment of rights arising from advance payments for future capitalizations channeled prior to July 26, 2017." The substitution may result in the partial or total cancellation of the initial registration and a new registration. FDI substitutions including those resulting from corporate reorganizations like mergers or spin-offs must be registered by the investors, their authorized agents, legal representatives, or legal representatives of the companies receiving their investment through the Foreign Exchange Information System, without supporting documents for the transaction. Asset contributions registered as FDI made to separate accounts must be recorded using the substitution procedure for a change in intended use. Reductions in supplementary investment to the allocated capital of foreign company branches do not require a formal cancellation procedure. Cancellation of a foreign direct investment is defined as the total or partial reduction or liquidation of an investment previously registered with Banrep. The cancellation process shall only proceed when there is a prior registration subject to cancellation and when, due to any legal act or event, the non-resident investor ceases to be the owner of the investment, for the reasons set forth in the Foreign Exchange Information System.The cancellation must be registered at any time by the investor, their authorized agent, legal representative, or by the legal representative of the company receiving the investment, by submitting the Declaration of Cancellation of International Investments through the Foreign Exchange Information System, without supporting documents for the transaction. The circular is effective from the publication date.