Colombia · Business Banking
Opening business and personal bank accounts, remote options, required documents, and fees.
AI-drafted, editorially reviewed. Confirm specifics with the official authority.
Colombian banking is increasingly digital. Foreigners generally need a Cédula de Extranjería (issued after an M or R visa), a RUT tax number and proof of address; a tourist entry is not enough. Many start with a Nequi digital wallet, then open a full bank account. The Financial Superintendence regulates banks.
Banks are regulated by the Financial Superintendence of Colombia, with the Banco de la República as central bank. A company needs its NIT and registry documents to open an account.
- The Financial Superintendence licenses and supervises banks.
- Opening a corporate account requires the NIT, articles and representative ID.
- Foreign-investment registration with the central bank protects remittance rights.
- 1
Get your visa and Cédula de Extranjería
A Cédula de Extranjería (foreigner ID), issued after an M or R visa, unlocks the financial system; a tourist entry alone is not enough.
- 2
Get your RUT
A tax number (RUT) from DIAN is commonly requested for banking.
- 3
Start with a digital wallet
A Nequi or Daviplata account opens in the app within minutes with your cédula, useful while you prepare full-account documents.
- 4
Open a full bank account
A major bank (Bancolombia, Davivienda, BBVA, Banco de Bogotá); bring your cédula de extranjería, RUT, passport and proof of a Colombian residential address (rental agreement or utility bill in your name — hotels are not accepted).
- 5
Complete KYC and activate the account
Banks run identity and anti-money-laundering checks; then set up transfers (PSE), the app and bill payments.
- Cédula de Extranjería (after an M or R visa)
- RUT (tax number)
- Passport
- Proof of a Colombian residential address (rental or utility bill; no hotels)
- NIT + company documents — corporate accounts
- Initial deposit (if required by the bank)
- Financial Superintendence of Colombia
Financial regulator.
Frequently asked questions
Can I open a Colombian account on a tourist visa?
No — most banks require an active M or R visa plus a Cédula de Extranjería; a tourist entry is not enough for full access.
Can I use a digital wallet first?
Yes — many people open a Nequi (or Daviplata) account in the app in minutes with their cédula, then open a full Bancolombia account once address and income documents are ready.
Government portals
- GOV.CO — Colombian State Portal — Single entry point to more than 78,000 government procedures.
- DIAN — Tax and Customs — RUT tax registration, income tax and VAT filing, and customs clearance.
- RUES — Unified Business Register — Look up any Colombian company: registration, legal representative and status, through the chambers of commerce.