Question

Choose a country (not the U.S.) and describe how, in your view, starting up a firm in that foreign country would be different from starting up a firm in the United States. It can be a country you have lived in, one you have visited, or one you just happen to know a lot about.

Answer 1

Answer:

The description is for Colombia.

Explanation:

In Colombia and any Latin American country, the business creation process is usually more complicated due to the different types of legal procedures that must be carried out, which often ends up increasing informality levels. In the United States, the process is usually easier, since it takes no more than three days and can be done electronically. In Colombia, for example, a different procedure must be carried out for each national or territorial body (local and national taxes), commercial constitution, among other procedures that take approximately one month to complete. In addition, many of these obligations require the advice of a certified accountant who is the most suitable professional to carry out this procedure.