{"id":4114,"date":"2026-03-07T13:39:39","date_gmt":"2026-03-07T18:39:39","guid":{"rendered":"https:\/\/lynceuslawfirm.com\/?page_id=4114"},"modified":"2026-03-07T16:17:13","modified_gmt":"2026-03-07T21:17:13","slug":"shareholder-agreements","status":"publish","type":"page","link":"https:\/\/lynceuslawfirm.com\/en\/business-law-colombia\/shareholder-agreements\/","title":{"rendered":"Shareholder Agreements"},"content":{"rendered":"\t\t<div data-elementor-type=\"wp-page\" data-elementor-id=\"4114\" class=\"elementor elementor-4114\" data-elementor-post-type=\"page\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5474ffc e-flex e-con-boxed e-con e-parent\" data-id=\"5474ffc\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-cc1aa4f e-con-full e-flex e-con e-child\" data-id=\"cc1aa4f\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b6bf348 elementor-invisible elementor-widget elementor-widget-heading\" data-id=\"b6bf348\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInUp&quot;}\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h1 class=\"elementor-heading-title elementor-size-default\">Shareholder Agreements in Colombia (Acuerdos de Accionistas)<\/h1>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7671530 elementor-widget elementor-widget-text-editor\" data-id=\"7671530\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Thinking about a shareholder agreement in Colombia but not sure what it should cover or whether you even need one? A well-drafted acuerdo de accionistas protects every investor from day one. Find out what Colombian law requires, what clauses actually matter, and how Lynceus drafts yours in English and German.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-15fa472 e-con-full e-flex e-con e-child\" data-id=\"15fa472\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9e14f9f elementor-mobile-align-center elementor-align-left elementor-invisible elementor-widget elementor-widget-button\" data-id=\"9e14f9f\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInDown&quot;}\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md elementor-animation-grow\" href=\"https:\/\/lynceuslawfirm.com\/en\/contact-us\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Schedule Your Appointment \u27f6<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e14c88c elementor-mobile-align-center elementor-align-left elementor-invisible elementor-widget elementor-widget-button\" data-id=\"e14c88c\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInDown&quot;}\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md elementor-animation-grow\" href=\"https:\/\/lynceuslawfirm.com\/en\/services\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Discover our services<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-f5d18c9 e-con-full e-flex elementor-invisible e-con e-child\" data-id=\"f5d18c9\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;animation&quot;:&quot;fadeInRight&quot;}\">\n\t\t<div class=\"elementor-element elementor-element-208c841 e-con-full e-flex e-con e-child\" data-id=\"208c841\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-93af24a elementor-widget elementor-widget-heading\" data-id=\"93af24a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Have legal questions?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-cb78651 elementor-widget elementor-widget-text-editor\" data-id=\"cb78651\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Let\u2019s Make Your Move to Colombia Simple and Stress-Free.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-3ec52bd elementor-button-align-stretch elementor-widget elementor-widget-form\" data-id=\"3ec52bd\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;step_next_label&quot;:&quot;Next&quot;,&quot;step_previous_label&quot;:&quot;Previous&quot;,&quot;_animation&quot;:&quot;none&quot;,&quot;button_width&quot;:&quot;100&quot;,&quot;step_type&quot;:&quot;number_text&quot;,&quot;step_icon_shape&quot;:&quot;circle&quot;}\" data-widget_type=\"form.default\">\n\t\t\t\t\t\t\t<form class=\"elementor-form\" method=\"post\" name=\"Get In Touch\" aria-label=\"Get In Touch\">\n\t\t\t<input type=\"hidden\" name=\"post_id\" value=\"4114\"\/>\n\t\t\t<input type=\"hidden\" name=\"form_id\" value=\"3ec52bd\"\/>\n\t\t\t<input type=\"hidden\" name=\"referer_title\" value=\"Shareholder Agreements in Colombia | Lynceus Law Firm\" \/>\n\n\t\t\t\t\t\t\t<input type=\"hidden\" name=\"queried_id\" value=\"4114\"\/>\n\t\t\t\n\t\t\t<div class=\"elementor-form-fields-wrapper elementor-labels-above\">\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-name elementor-col-50\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[name]\" id=\"form-field-name\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"First name\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-field_8a14db8 elementor-col-50\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[field_8a14db8]\" id=\"form-field-field_8a14db8\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"Last name\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-email elementor-field-group elementor-column elementor-field-group-email elementor-col-100 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"email\" name=\"form_fields[email]\" id=\"form-field-email\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"Email address\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-tel elementor-field-group elementor-column elementor-field-group-field_ef4d212 elementor-col-100 elementor-field-required\">\n\t\t\t\t\t\t\t<input size=\"1\" type=\"tel\" name=\"form_fields[field_ef4d212]\" id=\"form-field-field_ef4d212\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"Phone number\" required=\"required\" pattern=\"[0-9()#&amp;+*-=.]+\" title=\"Solo se aceptan n\u00fameros y caracteres telef\u00f3nicos (#, -, *, etc.).\">\n\n\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-text elementor-field-group elementor-column elementor-field-group-field_c241ef9 elementor-col-100 elementor-field-required\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t<input size=\"1\" type=\"text\" name=\"form_fields[field_c241ef9]\" id=\"form-field-field_c241ef9\" class=\"elementor-field elementor-size-sm  elementor-field-textual\" placeholder=\"Subject\" required=\"required\">\n\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-type-textarea elementor-field-group elementor-column elementor-field-group-message elementor-col-100\">\n\t\t\t\t\t<textarea class=\"elementor-field-textual elementor-field  elementor-size-sm\" name=\"form_fields[message]\" id=\"form-field-message\" rows=\"4\" placeholder=\"Write a message\"><\/textarea>\t\t\t\t<\/div>\n\t\t\t\t\t\t\t\t<div class=\"elementor-field-group elementor-column elementor-field-type-submit elementor-col-100 e-form__buttons\">\n\t\t\t\t\t<button class=\"elementor-button elementor-size-sm elementor-animation-grow\" type=\"submit\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Send<\/span>\n\t\t\t\t\t\t\t\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/button>\n\t\t\t\t<\/div>\n\t\t\t<\/div>\n\t\t<\/form>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-58b61ae e-flex e-con-boxed e-con e-parent\" data-id=\"58b61ae\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0a1aaf9 elementor-widget elementor-widget-heading\" data-id=\"0a1aaf9\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What We Do \u2014 Shareholder Agreement Services in Colombia<\/h2>\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-14f7d5e e-flex e-con-boxed e-con e-parent\" data-id=\"14f7d5e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-a289f07 e-con-full e-flex e-con e-child\" data-id=\"a289f07\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-82bc018 elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"82bc018\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-building\" viewBox=\"0 0 448 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M128 148v-40c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v40c0 6.6-5.4 12-12 12h-40c-6.6 0-12-5.4-12-12zm140 12h40c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12zm-128 96h40c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12zm128 0h40c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12zm-76 84v-40c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12h40c6.6 0 12-5.4 12-12zm76 12h40c6.6 0 12-5.4 12-12v-40c0-6.6-5.4-12-12-12h-40c-6.6 0-12 5.4-12 12v40c0 6.6 5.4 12 12 12zm180 124v36H0v-36c0-6.6 5.4-12 12-12h19.5V24c0-13.3 10.7-24 24-24h337c13.3 0 24 10.7 24 24v440H436c6.6 0 12 5.4 12 12zM79.5 463H192v-67c0-6.6 5.4-12 12-12h40c6.6 0 12 5.4 12 12v67h112.5V49L80 48l-.5 415z\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5359631 elementor-widget elementor-widget-image-box\" data-id=\"5359631\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t\t<div class=\"elementor-image-box-wrapper\"><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Drafting from scratch <\/h3><p class=\"elementor-image-box-description\">We draft shareholder agreements in Colombia tailored to your specific company structure, investor mix, and business objectives. Available in English, German, and Spanish \u2014 bilingual versions for cross-border partnerships.<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-6fba6dc e-con-full e-flex e-con e-child\" data-id=\"6fba6dc\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5a2e278 elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"5a2e278\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-file-alt\" viewBox=\"0 0 384 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M288 248v28c0 6.6-5.4 12-12 12H108c-6.6 0-12-5.4-12-12v-28c0-6.6 5.4-12 12-12h168c6.6 0 12 5.4 12 12zm-12 72H108c-6.6 0-12 5.4-12 12v28c0 6.6 5.4 12 12 12h168c6.6 0 12-5.4 12-12v-28c0-6.6-5.4-12-12-12zm108-188.1V464c0 26.5-21.5 48-48 48H48c-26.5 0-48-21.5-48-48V48C0 21.5 21.5 0 48 0h204.1C264.8 0 277 5.1 286 14.1L369.9 98c9 8.9 14.1 21.2 14.1 33.9zm-128-80V128h76.1L256 51.9zM336 464V176H232c-13.3 0-24-10.7-24-24V48H48v416h288z\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9b79d21 elementor-widget elementor-widget-image-box\" data-id=\"9b79d21\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t\t<div class=\"elementor-image-box-wrapper\"><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Reviewing and redrafting existing agreements <\/h3><p class=\"elementor-image-box-description\">We review shareholder agreements drafted by other parties \u2014 including agreements from other jurisdictions being adapted for a Colombian SAS \u2014 and identify gaps, unenforceable clauses, and missing protections.<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-d68b072 e-con-full e-flex e-con e-child\" data-id=\"d68b072\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b63d1ae elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"b63d1ae\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-registered\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M256 8C119.033 8 8 119.033 8 256s111.033 248 248 248 248-111.033 248-248S392.967 8 256 8zm0 448c-110.532 0-200-89.451-200-200 0-110.531 89.451-200 200-200 110.532 0 200 89.451 200 200 0 110.532-89.451 200-200 200zm110.442-81.791c-53.046-96.284-50.25-91.468-53.271-96.085 24.267-13.879 39.482-41.563 39.482-73.176 0-52.503-30.247-85.252-101.498-85.252h-78.667c-6.617 0-12 5.383-12 12V380c0 6.617 5.383 12 12 12h38.568c6.617 0 12-5.383 12-12v-83.663h31.958l47.515 89.303a11.98 11.98 0 0 0 10.593 6.36h42.81c9.14 0 14.914-9.799 10.51-17.791zM256.933 239.906h-33.875v-64.14h27.377c32.417 0 38.929 12.133 38.929 31.709-.001 20.913-11.518 32.431-32.431 32.431z\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ecf803c elementor-widget elementor-widget-image-box\" data-id=\"ecf803c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t\t<div class=\"elementor-image-box-wrapper\"><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Depositing the agreement with the company <\/h3><p class=\"elementor-image-box-description\">Under Article 24 of Law 1258 of 2008, a shareholder agreement in Colombia is only binding on the company once formally deposited with the company's administration. We handle this step to ensure full enforceability.<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-5f272a4 e-con-full e-flex e-con e-child\" data-id=\"5f272a4\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-fb76bad elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"fb76bad\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-registered\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M285.363 207.475c0 18.6-9.831 28.431-28.431 28.431h-29.876v-56.14h23.378c28.668 0 34.929 8.773 34.929 27.709zM504 256c0 136.967-111.033 248-248 248S8 392.967 8 256 119.033 8 256 8s248 111.033 248 248zM363.411 360.414c-46.729-84.825-43.299-78.636-44.702-80.98 23.432-15.172 37.945-42.979 37.945-74.486 0-54.244-31.5-89.252-105.498-89.252h-70.667c-13.255 0-24 10.745-24 24V372c0 13.255 10.745 24 24 24h22.567c13.255 0 24-10.745 24-24v-71.663h25.556l44.129 82.937a24.001 24.001 0 0 0 21.188 12.727h24.464c18.261-.001 29.829-19.591 21.018-35.587z\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-34359ca elementor-widget elementor-widget-image-box\" data-id=\"34359ca\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t\t<div class=\"elementor-image-box-wrapper\"><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Dispute prevention and deadlock clauses<\/h3><p class=\"elementor-image-box-description\">We draft shareholder agreements that anticipate conflict  including deadlock mechanisms, exit rights, drag-along and tag-along clauses, and buy-sell provisions designed to resolve disputes without litigation.<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4dbde1e e-con-full e-flex e-con e-child\" data-id=\"4dbde1e\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-bd33454 elementor-view-default elementor-widget elementor-widget-icon\" data-id=\"bd33454\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-wrapper\">\n\t\t\t<div class=\"elementor-icon\">\n\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-globe\" viewBox=\"0 0 496 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M336.5 160C322 70.7 287.8 8 248 8s-74 62.7-88.5 152h177zM152 256c0 22.2 1.2 43.5 3.3 64h185.3c2.1-20.5 3.3-41.8 3.3-64s-1.2-43.5-3.3-64H155.3c-2.1 20.5-3.3 41.8-3.3 64zm324.7-96c-28.6-67.9-86.5-120.4-158-141.6 24.4 33.8 41.2 84.7 50 141.6h108zM177.2 18.4C105.8 39.6 47.8 92.1 19.3 160h108c8.7-56.9 25.5-107.8 49.9-141.6zM487.4 192H372.7c2.1 21 3.3 42.5 3.3 64s-1.2 43-3.3 64h114.6c5.5-20.5 8.6-41.8 8.6-64s-3.1-43.5-8.5-64zM120 256c0-21.5 1.2-43 3.3-64H8.6C3.2 212.5 0 233.8 0 256s3.2 43.5 8.6 64h114.6c-2-21-3.2-42.5-3.2-64zm39.5 96c14.5 89.3 48.7 152 88.5 152s74-62.7 88.5-152h-177zm159.3 141.6c71.4-21.2 129.4-73.7 158-141.6h-108c-8.8 56.9-25.6 107.8-50 141.6zM19.3 352c28.6 67.9 86.5 120.4 158 141.6-24.4-33.8-41.2-84.7-50-141.6h-108z\"><\/path><\/svg>\t\t\t<\/div>\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-7a52f79 elementor-widget elementor-widget-image-box\" data-id=\"7a52f79\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image-box.default\">\n\t\t\t\t\t<div class=\"elementor-image-box-wrapper\"><div class=\"elementor-image-box-content\"><h3 class=\"elementor-image-box-title\">Updates and amendments <\/h3><p class=\"elementor-image-box-description\">We update shareholder agreements when ownership changes, new investors come in, or the company's direction shifts  ensuring the document reflects actual arrangements at all times.<\/p><\/div><\/div>\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-72babb1 e-flex e-con-boxed e-con e-parent\" data-id=\"72babb1\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-9e8c9b6 elementor-widget elementor-widget-heading\" data-id=\"9e8c9b6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Our Process \u2014 How We Draft Your Shareholder Agreement in Colombia<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-71479f7 elementor-widget elementor-widget-text-editor\" data-id=\"71479f7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>A clear, predictable process \u2014 so you know exactly where you stand at every stage.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-de2bc02 e-con-full e-flex e-con e-child\" data-id=\"de2bc02\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div class=\"elementor-element elementor-element-ad92418 e-con-full e-transform e-flex e-con e-child\" data-id=\"ad92418\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;animation&quot;:&quot;none&quot;,&quot;_transform_translateX_effect_hover&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:10,&quot;sizes&quot;:[]},&quot;_transform_translateX_effect_hover_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_translateX_effect_hover_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_translateY_effect_hover&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_translateY_effect_hover_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_translateY_effect_hover_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-cd6417f elementor-position-inline-start elementor-view-default elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"cd6417f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-arrow-alt-circle-right\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M504 256C504 119 393 8 256 8S8 119 8 256s111 248 248 248 248-111 248-248zm-448 0c0-110.5 89.5-200 200-200s200 89.5 200 200-89.5 200-200 200S56 366.5 56 256zm72 20v-40c0-6.6 5.4-12 12-12h116v-67c0-10.7 12.9-16 20.5-8.5l99 99c4.7 4.7 4.7 12.3 0 17l-99 99c-7.6 7.6-20.5 2.2-20.5-8.5v-67H140c-6.6 0-12-5.4-12-12z\"><\/path><\/svg>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tConsultation &amp; situation analysis \t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tWe start with a free consultation to understand your company structure, number of shareholders, nationalities, equity split, roles, and business objectives. We ask the right questions who manages day-to-day operations, who is investing from abroad, what happens if someone wants to exit so the agreement we draft reflects your actual situation, not a generic template.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4daf14d e-con-full e-transform e-flex e-con e-child\" data-id=\"4daf14d\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_transform_translateX_effect_hover&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:10,&quot;sizes&quot;:[]},&quot;_transform_translateX_effect_hover_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_translateX_effect_hover_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_translateY_effect_hover&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_translateY_effect_hover_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_translateY_effect_hover_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-cb90a69 elementor-position-inline-start elementor-view-default elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"cb90a69\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-arrow-alt-circle-right\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M504 256C504 119 393 8 256 8S8 119 8 256s111 248 248 248 248-111 248-248zm-448 0c0-110.5 89.5-200 200-200s200 89.5 200 200-89.5 200-200 200S56 366.5 56 256zm72 20v-40c0-6.6 5.4-12 12-12h116v-67c0-10.7 12.9-16 20.5-8.5l99 99c4.7 4.7 4.7 12.3 0 17l-99 99c-7.6 7.6-20.5 2.2-20.5-8.5v-67H140c-6.6 0-12-5.4-12-12z\"><\/path><\/svg>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tDrafting &amp; review \t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tWe draft your shareholder agreement in Colombia in your preferred language English, German, or Spanish or as a bilingual document. We send you a first draft with a plain-language explanation of every clause. You review, ask questions, and request changes. We revise until every party is satisfied and fully understands what they are signing.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-67a1096 e-con-full e-transform e-flex e-con e-child\" data-id=\"67a1096\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;,&quot;_transform_translateX_effect_hover&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:10,&quot;sizes&quot;:[]},&quot;_transform_translateX_effect_hover_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_translateX_effect_hover_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_translateY_effect_hover&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_translateY_effect_hover_tablet&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]},&quot;_transform_translateY_effect_hover_mobile&quot;:{&quot;unit&quot;:&quot;px&quot;,&quot;size&quot;:&quot;&quot;,&quot;sizes&quot;:[]}}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-5ad8e57 elementor-position-inline-start elementor-view-default elementor-mobile-position-block-start elementor-widget elementor-widget-icon-box\" data-id=\"5ad8e57\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"icon-box.default\">\n\t\t\t\t\t\t\t<div class=\"elementor-icon-box-wrapper\">\n\n\t\t\t\t\t\t<div class=\"elementor-icon-box-icon\">\n\t\t\t\t<span  class=\"elementor-icon\">\n\t\t\t\t<svg aria-hidden=\"true\" class=\"e-font-icon-svg e-far-arrow-alt-circle-right\" viewBox=\"0 0 512 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M504 256C504 119 393 8 256 8S8 119 8 256s111 248 248 248 248-111 248-248zm-448 0c0-110.5 89.5-200 200-200s200 89.5 200 200-89.5 200-200 200S56 366.5 56 256zm72 20v-40c0-6.6 5.4-12 12-12h116v-67c0-10.7 12.9-16 20.5-8.5l99 99c4.7 4.7 4.7 12.3 0 17l-99 99c-7.6 7.6-20.5 2.2-20.5-8.5v-67H140c-6.6 0-12-5.4-12-12z\"><\/path><\/svg>\t\t\t\t<\/span>\n\t\t\t<\/div>\n\t\t\t\n\t\t\t\t\t\t<div class=\"elementor-icon-box-content\">\n\n\t\t\t\t\t\t\t\t\t<h3 class=\"elementor-icon-box-title\">\n\t\t\t\t\t\t<span  >\n\t\t\t\t\t\t\tSigning, deposit &amp; handover\t\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/h3>\n\t\t\t\t\n\t\t\t\t\t\t\t\t\t<p class=\"elementor-icon-box-description\">\n\t\t\t\t\t\tOnce finalized, we coordinate execution by all shareholders including remote signing for parties based outside Colombia. We then formally deposit the agreement with the company's administration as required under Article 24 of Law 1258 of 2008, making it binding on the company not just between shareholders. You receive a signed copy, the deposit confirmation, and a summary of your key obligations and renewal timeline.\t\t\t\t\t<\/p>\n\t\t\t\t\n\t\t\t<\/div>\n\t\t\t\n\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-50a962b e-flex e-con-boxed e-con e-parent\" data-id=\"50a962b\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-2713eb5 e-con-full e-flex e-con e-child\" data-id=\"2713eb5\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-0bc5721 elementor-widget elementor-widget-heading\" data-id=\"0bc5721\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Draft Your Shareholder Agreement in Colombia \u2014 Consultation<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-77bc2ee elementor-widget elementor-widget-text-editor\" data-id=\"77bc2ee\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>We draft shareholder agreements in Colombia for joint ventures, foreign-owned SAS companies, and multi-shareholder businesses across all sectors. Our bilingual team in Medell\u00edn works in English, German, and Spanish \u2014 and we make sure every party understands exactly what they&#8217;re signing.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-57d945c elementor-mobile-align-center elementor-align-center elementor-invisible elementor-widget elementor-widget-button\" data-id=\"57d945c\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;_animation&quot;:&quot;fadeInDown&quot;}\" data-widget_type=\"button.default\">\n\t\t\t\t\t\t\t\t\t\t<a class=\"elementor-button elementor-button-link elementor-size-md elementor-animation-grow\" href=\"https:\/\/lynceuslawfirm.com\/en\/contact-us\/\">\n\t\t\t\t\t\t<span class=\"elementor-button-content-wrapper\">\n\t\t\t\t\t\t\t\t\t<span class=\"elementor-button-text\">Schedule Your Appointment \u27f6<\/span>\n\t\t\t\t\t<\/span>\n\t\t\t\t\t<\/a>\n\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-4640c03 e-con-full e-flex e-con e-child\" data-id=\"4640c03\" data-element_type=\"container\" data-e-type=\"container\" data-settings=\"{&quot;background_background&quot;:&quot;classic&quot;}\">\n\t\t\t\t<div class=\"elementor-element elementor-element-1eaf97a elementor-widget elementor-widget-image\" data-id=\"1eaf97a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"image.default\">\n\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<img fetchpriority=\"high\" decoding=\"async\" width=\"746\" height=\"502\" src=\"https:\/\/lynceuslawfirm.com\/wp-content\/uploads\/2026\/01\/ContactPage-Img_2.webp\" class=\"attachment-full size-full wp-image-2327\" alt=\"\" srcset=\"https:\/\/lynceuslawfirm.com\/wp-content\/uploads\/2026\/01\/ContactPage-Img_2.webp 746w, https:\/\/lynceuslawfirm.com\/wp-content\/uploads\/2026\/01\/ContactPage-Img_2-300x202.webp 300w, https:\/\/lynceuslawfirm.com\/wp-content\/uploads\/2026\/01\/ContactPage-Img_2-18x12.webp 18w\" sizes=\"(max-width: 746px) 100vw, 746px\" \/>\t\t\t\t\t\t\t\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-9f613f7 e-flex e-con-boxed e-con e-parent\" data-id=\"9f613f7\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-c89bd48 elementor-widget elementor-widget-heading\" data-id=\"c89bd48\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What Is a Shareholder Agreement in Colombia?<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-5b41467 elementor-widget elementor-widget-text-editor\" data-id=\"5b41467\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>A shareholder agreement in Colombia \u2014 called an acuerdo de accionistas or pacto de accionistas \u2014 is a private contract between two or more shareholders that governs their relationship outside the company&#8217;s bylaws (estatutos sociales). It can cover almost any lawful subject: how shares are bought and sold, how votes are cast, how the company is managed, what happens when a shareholder wants to exit, and how disputes are resolved.<\/p><p>For SAS companies, shareholder agreements are governed by Article 24 of Law 1258 of 2008, which gives them exceptional flexibility. Unlike the rules that apply to Sociedades An\u00f3nimas \u2014 where agreements are restricted to voting matters and cannot involve company administrators \u2014 an SAS shareholder agreement can cover any lawful subject, including terms agreed between shareholders who are also legal representatives or board members.<\/p><p><strong>Key legal point: <\/strong>The agreement only becomes binding on the company \u2014 not just between the signing shareholders \u2014 once it is formally deposited with the company&#8217;s administration. Its maximum term is 10 years, renewable unanimously for further 10-year periods.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-1d0fcaf elementor-widget elementor-widget-heading\" data-id=\"1d0fcaf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">What a Shareholder Agreement in Colombia Should Cover<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2b99c39 elementor-widget elementor-widget-text-editor\" data-id=\"2b99c39\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>A shareholder agreement in Colombia that doesn&#8217;t address the right issues is almost as dangerous as having no agreement at all. These are the clauses that matter most for foreign investors in a Colombian SAS:<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-e2454ac elementor-widget elementor-widget-heading\" data-id=\"e2454ac\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Share Transfer Restrictions<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6e2ddd6 elementor-widget elementor-widget-text-editor\" data-id=\"6e2ddd6\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Right of first refusal (derecho de preferencia)\u00a0 requires a selling shareholder to offer their shares to existing shareholders before selling to a third party. Lock-up periods\u00a0 preventing shareholders from selling for a defined period after incorporation. Drag-along rights allowing a majority shareholder to require minority shareholders to join a sale. Tag-along rights giving minority shareholders the right to join a sale by the majority on the same terms.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2532bf4 elementor-widget elementor-widget-heading\" data-id=\"2532bf4\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Voting Agreements and Governance<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-6d9b387 elementor-widget elementor-widget-text-editor\" data-id=\"6d9b387\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>How shareholders will vote on key decisions \u2014 board composition, dividend policy, major contracts, borrowing limits, and any reserved matters requiring unanimous consent. For foreign investors, this section also covers how the Colombian legal representative will be appointed and what decisions require prior approval from shareholders based abroad.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4876c00 elementor-widget elementor-widget-heading\" data-id=\"4876c00\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Capital Contributions and Dilution<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-429e59c elementor-widget elementor-widget-text-editor\" data-id=\"429e59c\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>What happens when the company needs additional capital \u2014 whether shareholders are obligated to contribute, what happens if one shareholder cannot or will not, and how dilution works. This is particularly important when shareholders are based in different countries and capital transfers involve foreign exchange procedures.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c802464 elementor-widget elementor-widget-heading\" data-id=\"c802464\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Dividend Policy<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-42be241 elementor-widget elementor-widget-text-editor\" data-id=\"42be241\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Whether profits are distributed or reinvested, at what threshold, and in what timeframe. Colombia&#8217;s Commercial Code establishes a minimum dividend obligation for certain company types the shareholder agreement can go further and specify the policy clearly to avoid future disputes.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-504eb1b elementor-widget elementor-widget-heading\" data-id=\"504eb1b\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Deadlock Mechanisms<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-4524493 elementor-widget elementor-widget-text-editor\" data-id=\"4524493\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>What happens when shareholders cannot agree on a critical decision. Common mechanisms include mandatory mediation, buy-sell provisions (where one shareholder offers to buy out the other at a set price, and the other can choose to buy or sell at that same price), or escalation to a neutral expert. Without a deadlock clause, irreconcilable disagreements can paralyze a company indefinitely.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9f51c6a elementor-widget elementor-widget-heading\" data-id=\"9f51c6a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Exit Provisions<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-828b18f elementor-widget elementor-widget-text-editor\" data-id=\"828b18f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>How a shareholder can exit whether through a sale to other shareholders, a sale to a third party, or a put\/call option. The agreement should also address what happens in the event of death, incapacity, insolvency, or change of control of a shareholder that is a corporate entity.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-259923a elementor-widget elementor-widget-heading\" data-id=\"259923a\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h3 class=\"elementor-heading-title elementor-size-default\">Dispute Resolution<\/h3>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-c210547 elementor-widget elementor-widget-text-editor\" data-id=\"c210547\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Colombian commercial arbitration is well-developed and faster than litigation. For agreements involving foreign shareholders, international arbitration clauses referencing ICC or UNCITRAL rules are enforceable in Colombia. We recommend specifying the dispute resolution mechanism clearly rather than defaulting to court proceedings.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-2e36aaa elementor-widget elementor-widget-heading\" data-id=\"2e36aaa\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Shareholder Agreements for Foreign Investors in Medell\u00edn and Colombia<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-9142b5d elementor-widget elementor-widget-text-editor\" data-id=\"9142b5d\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Most of the foreign investors we work with in Medell\u00edn are either entering a joint venture with a Colombian partner, setting up a company with co-founders based in different countries, or bringing in a local investor to manage day-to-day operations while retaining majority ownership from abroad. Each of these situations creates a specific set of risks that a shareholder agreement in Colombia needs to address.<\/p><p>A German company partnering with a Colombian entrepreneur in Medell\u00edn faces different issues than two US-based founders splitting equity in a SAS for their e-commerce business. The agreement needs to account for the practical realities \u2014 how decisions get made across time zones, how capital contributions work when funds come from abroad, and how an exit is structured when one shareholder is a Colombian individual and the other is a foreign legal entity.<\/p><p>We draft shareholder agreements in English and German \u2014 not just translations of a Spanish document, but agreements designed to be read and understood by all parties from the start. Our Medell\u00edn office handles the Colombian legal requirements. Our team&#8217;s language capability handles everything else.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-176f3b7 elementor-widget elementor-widget-heading\" data-id=\"176f3b7\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Why a Shareholder Agreement in Colombia Matters<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-72efe36 elementor-widget elementor-widget-text-editor\" data-id=\"72efe36\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Most shareholder disputes we see in Colombia were preventable. The company was formed correctly, the SAS was registered, the business started operating \u2014 and nobody thought about what would happen if one partner wanted to exit, or if the two founders disagreed on whether to bring in a new investor, or if the Colombian managing partner started making decisions without consulting the foreign majority shareholder. A shareholder agreement in Colombia doesn&#8217;t eliminate conflict \u2014 but it gives you a framework to resolve it before it destroys the company. The cost of drafting a proper agreement is a fraction of the cost of a shareholder dispute that ends in litigation.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t<div class=\"elementor-element elementor-element-431a6ff e-flex e-con-boxed e-con e-child\" data-id=\"431a6ff\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t<div class=\"elementor-element elementor-element-66e1c82 e-con-full e-flex e-con e-child\" data-id=\"66e1c82\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t<div class=\"elementor-element elementor-element-07b78bd elementor-widget elementor-widget-heading\" data-id=\"07b78bd\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"heading.default\">\n\t\t\t\t\t<h2 class=\"elementor-heading-title elementor-size-default\">Frequently Asked Questions About Shareholder Agreements in Colombia<\/h2>\t\t\t\t<\/div>\n\t\t\t\t<div class=\"elementor-element elementor-element-ebfed56 elementor-widget elementor-widget-n-accordion\" data-id=\"ebfed56\" data-element_type=\"widget\" data-e-type=\"widget\" data-settings=\"{&quot;default_state&quot;:&quot;expanded&quot;,&quot;max_items_expended&quot;:&quot;one&quot;,&quot;n_accordion_animation_duration&quot;:{&quot;unit&quot;:&quot;ms&quot;,&quot;size&quot;:400,&quot;sizes&quot;:[]}}\" data-widget_type=\"nested-accordion.default\">\n\t\t\t\t\t\t\t<div class=\"e-n-accordion\" aria-label=\"Accordion. Open links with Enter or Space, close with Escape, and navigate with Arrow Keys\">\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-2470\" class=\"e-n-accordion-item\" open>\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"1\" tabindex=\"0\" aria-expanded=\"true\" aria-controls=\"e-n-accordion-item-2470\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Is a shareholder agreement required by Colombian law? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-angle-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M143 352.3L7 216.3c-9.4-9.4-9.4-24.6 0-33.9l22.6-22.6c9.4-9.4 24.6-9.4 33.9 0l96.4 96.4 96.4-96.4c9.4-9.4 24.6-9.4 33.9 0l22.6 22.6c9.4 9.4 9.4 24.6 0 33.9l-136 136c-9.2 9.4-24.4 9.4-33.8 0z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-angle-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M143 352.3L7 216.3c-9.4-9.4-9.4-24.6 0-33.9l22.6-22.6c9.4-9.4 24.6-9.4 33.9 0l96.4 96.4 96.4-96.4c9.4-9.4 24.6-9.4 33.9 0l22.6 22.6c9.4 9.4 9.4 24.6 0 33.9l-136 136c-9.2 9.4-24.4 9.4-33.8 0z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2470\" class=\"elementor-element elementor-element-0ded2da e-con-full e-flex e-con e-child\" data-id=\"0ded2da\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2470\" class=\"elementor-element elementor-element-4d9b455 e-flex e-con-boxed e-con e-child\" data-id=\"4d9b455\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-b8c4590 elementor-widget elementor-widget-text-editor\" data-id=\"b8c4590\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>No. Colombian law does not require a shareholder agreement. But without one, your only protection is the company&#8217;s bylaws \u2014 which rarely cover the situations that actually cause disputes between shareholders.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-2471\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"2\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-2471\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> What is the legal basis for shareholder agreements in Colombia? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-angle-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M143 352.3L7 216.3c-9.4-9.4-9.4-24.6 0-33.9l22.6-22.6c9.4-9.4 24.6-9.4 33.9 0l96.4 96.4 96.4-96.4c9.4-9.4 24.6-9.4 33.9 0l22.6 22.6c9.4 9.4 9.4 24.6 0 33.9l-136 136c-9.2 9.4-24.4 9.4-33.8 0z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-angle-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M143 352.3L7 216.3c-9.4-9.4-9.4-24.6 0-33.9l22.6-22.6c9.4-9.4 24.6-9.4 33.9 0l96.4 96.4 96.4-96.4c9.4-9.4 24.6-9.4 33.9 0l22.6 22.6c9.4 9.4 9.4 24.6 0 33.9l-136 136c-9.2 9.4-24.4 9.4-33.8 0z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2471\" class=\"elementor-element elementor-element-5b2c021 e-con-full e-flex e-con e-child\" data-id=\"5b2c021\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2471\" class=\"elementor-element elementor-element-56154a6 e-flex e-con-boxed e-con e-child\" data-id=\"56154a6\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-efa0028 elementor-widget elementor-widget-text-editor\" data-id=\"efa0028\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Article 24 of Law 1258 of 2008 for SAS companies. Article 70 of Law 222 of 1995 for Sociedades An\u00f3nimas. The SAS rules are considerably more flexible.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-2472\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"3\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-2472\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> When does a shareholder agreement become binding on the company in Colombia? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-angle-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M143 352.3L7 216.3c-9.4-9.4-9.4-24.6 0-33.9l22.6-22.6c9.4-9.4 24.6-9.4 33.9 0l96.4 96.4 96.4-96.4c9.4-9.4 24.6-9.4 33.9 0l22.6 22.6c9.4 9.4 9.4 24.6 0 33.9l-136 136c-9.2 9.4-24.4 9.4-33.8 0z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-angle-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M143 352.3L7 216.3c-9.4-9.4-9.4-24.6 0-33.9l22.6-22.6c9.4-9.4 24.6-9.4 33.9 0l96.4 96.4 96.4-96.4c9.4-9.4 24.6-9.4 33.9 0l22.6 22.6c9.4 9.4 9.4 24.6 0 33.9l-136 136c-9.2 9.4-24.4 9.4-33.8 0z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2472\" class=\"elementor-element elementor-element-0b54850 e-con-full e-flex e-con e-child\" data-id=\"0b54850\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2472\" class=\"elementor-element elementor-element-1953780 e-flex e-con-boxed e-con e-child\" data-id=\"1953780\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-94638cf elementor-widget elementor-widget-text-editor\" data-id=\"94638cf\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Once it is formally deposited with the company&#8217;s administration. Before deposit, it is binding only between the shareholders who signed it not on the company itself.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-2473\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"4\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-2473\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> How long is a shareholder agreement valid in Colombia? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-angle-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M143 352.3L7 216.3c-9.4-9.4-9.4-24.6 0-33.9l22.6-22.6c9.4-9.4 24.6-9.4 33.9 0l96.4 96.4 96.4-96.4c9.4-9.4 24.6-9.4 33.9 0l22.6 22.6c9.4 9.4 9.4 24.6 0 33.9l-136 136c-9.2 9.4-24.4 9.4-33.8 0z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-angle-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M143 352.3L7 216.3c-9.4-9.4-9.4-24.6 0-33.9l22.6-22.6c9.4-9.4 24.6-9.4 33.9 0l96.4 96.4 96.4-96.4c9.4-9.4 24.6-9.4 33.9 0l22.6 22.6c9.4 9.4 9.4 24.6 0 33.9l-136 136c-9.2 9.4-24.4 9.4-33.8 0z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2473\" class=\"elementor-element elementor-element-6b2455e e-con-full e-flex e-con e-child\" data-id=\"6b2455e\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2473\" class=\"elementor-element elementor-element-b42b99c e-flex e-con-boxed e-con e-child\" data-id=\"b42b99c\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-53f061f elementor-widget elementor-widget-text-editor\" data-id=\"53f061f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Maximum 10 years. Renewable for additional 10-year periods by unanimous agreement of all signatories.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-2474\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"5\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-2474\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Can a shareholder agreement in Colombia be drafted in English? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-angle-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M143 352.3L7 216.3c-9.4-9.4-9.4-24.6 0-33.9l22.6-22.6c9.4-9.4 24.6-9.4 33.9 0l96.4 96.4 96.4-96.4c9.4-9.4 24.6-9.4 33.9 0l22.6 22.6c9.4 9.4 9.4 24.6 0 33.9l-136 136c-9.2 9.4-24.4 9.4-33.8 0z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-angle-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M143 352.3L7 216.3c-9.4-9.4-9.4-24.6 0-33.9l22.6-22.6c9.4-9.4 24.6-9.4 33.9 0l96.4 96.4 96.4-96.4c9.4-9.4 24.6-9.4 33.9 0l22.6 22.6c9.4 9.4 9.4 24.6 0 33.9l-136 136c-9.2 9.4-24.4 9.4-33.8 0z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2474\" class=\"elementor-element elementor-element-f6bec29 e-con-full e-flex e-con e-child\" data-id=\"f6bec29\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2474\" class=\"elementor-element elementor-element-daedbe6 e-flex e-con-boxed e-con e-child\" data-id=\"daedbe6\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-656d24f elementor-widget elementor-widget-text-editor\" data-id=\"656d24f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>Yes. For foreign investors, we draft bilingual agreements \u2014 English\/Spanish or German\/Spanish \u2014 so all parties fully understand what they are signing. The Spanish version governs for Colombian legal purposes.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-2475\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"6\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-2475\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> What happens if a shareholder violates the agreement in Colombia? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-angle-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M143 352.3L7 216.3c-9.4-9.4-9.4-24.6 0-33.9l22.6-22.6c9.4-9.4 24.6-9.4 33.9 0l96.4 96.4 96.4-96.4c9.4-9.4 24.6-9.4 33.9 0l22.6 22.6c9.4 9.4 9.4 24.6 0 33.9l-136 136c-9.2 9.4-24.4 9.4-33.8 0z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-angle-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M143 352.3L7 216.3c-9.4-9.4-9.4-24.6 0-33.9l22.6-22.6c9.4-9.4 24.6-9.4 33.9 0l96.4 96.4 96.4-96.4c9.4-9.4 24.6-9.4 33.9 0l22.6 22.6c9.4 9.4 9.4 24.6 0 33.9l-136 136c-9.2 9.4-24.4 9.4-33.8 0z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2475\" class=\"elementor-element elementor-element-6dfcf04 e-con-full e-flex e-con e-child\" data-id=\"6dfcf04\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2475\" class=\"elementor-element elementor-element-dfcac45 e-flex e-con-boxed e-con e-child\" data-id=\"dfcac45\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-f25b56f elementor-widget elementor-widget-text-editor\" data-id=\"f25b56f\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>The other party can seek specific performance \u2014 i.e., a court or arbitration panel ordering the agreement to be honored or claim damages. The Superintendencia de Sociedades has confirmed that shareholder agreements must be strictly enforced.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t\t<details id=\"e-n-accordion-item-2476\" class=\"e-n-accordion-item\" >\n\t\t\t\t<summary class=\"e-n-accordion-item-title\" data-accordion-index=\"7\" tabindex=\"-1\" aria-expanded=\"false\" aria-controls=\"e-n-accordion-item-2476\" >\n\t\t\t\t\t<span class='e-n-accordion-item-title-header'><div class=\"e-n-accordion-item-title-text\"> Do shareholder agreements in Colombia override the company bylaws? <\/div><\/span>\n\t\t\t\t\t\t\t<span class='e-n-accordion-item-title-icon'>\n\t\t\t<span class='e-opened' ><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-angle-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M143 352.3L7 216.3c-9.4-9.4-9.4-24.6 0-33.9l22.6-22.6c9.4-9.4 24.6-9.4 33.9 0l96.4 96.4 96.4-96.4c9.4-9.4 24.6-9.4 33.9 0l22.6 22.6c9.4 9.4 9.4 24.6 0 33.9l-136 136c-9.2 9.4-24.4 9.4-33.8 0z\"><\/path><\/svg><\/span>\n\t\t\t<span class='e-closed'><svg aria-hidden=\"true\" class=\"e-font-icon-svg e-fas-angle-down\" viewBox=\"0 0 320 512\" xmlns=\"http:\/\/www.w3.org\/2000\/svg\"><path d=\"M143 352.3L7 216.3c-9.4-9.4-9.4-24.6 0-33.9l22.6-22.6c9.4-9.4 24.6-9.4 33.9 0l96.4 96.4 96.4-96.4c9.4-9.4 24.6-9.4 33.9 0l22.6 22.6c9.4 9.4 9.4 24.6 0 33.9l-136 136c-9.2 9.4-24.4 9.4-33.8 0z\"><\/path><\/svg><\/span>\n\t\t<\/span>\n\n\t\t\t\t\t\t<\/summary>\n\t\t\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2476\" class=\"elementor-element elementor-element-a8aa590 e-con-full e-flex e-con e-child\" data-id=\"a8aa590\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t<div role=\"region\" aria-labelledby=\"e-n-accordion-item-2476\" class=\"elementor-element elementor-element-f6dbef7 e-flex e-con-boxed e-con e-child\" data-id=\"f6dbef7\" data-element_type=\"container\" data-e-type=\"container\">\n\t\t\t\t\t<div class=\"e-con-inner\">\n\t\t\t\t<div class=\"elementor-element elementor-element-8fb8f57 elementor-widget elementor-widget-text-editor\" data-id=\"8fb8f57\" data-element_type=\"widget\" data-e-type=\"widget\" data-widget_type=\"text-editor.default\">\n\t\t\t\t\t\t\t\t\t<p>No. If a shareholder agreement conflicts with the bylaws (estatutos sociales), the bylaws prevail. For this reason, we review the bylaws alongside the agreement to ensure they are consistent or amend both together when needed.<\/p>\t\t\t\t\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/details>\n\t\t\t\t\t<\/div>\n\t\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t\t\t<\/div>\n\t\t","protected":false},"excerpt":{"rendered":"<p>Shareholder Agreements in Colombia (Acuerdos de Accionistas) Thinking about a shareholder agreement in Colombia but not sure what it should cover or whether you even need one? A well-drafted acuerdo de accionistas protects every investor from day one. Find out what Colombian law requires, what clauses actually matter, and how Lynceus drafts yours in English [&hellip;]<\/p>\n","protected":false},"author":12,"featured_media":0,"parent":3037,"menu_order":0,"comment_status":"closed","ping_status":"closed","template":"","meta":{"_angie_page":false,"content-type":"","site-sidebar-layout":"no-sidebar","site-content-layout":"page-builder","ast-site-content-layout":"full-width-container","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"disabled","ast-breadcrumbs-content":"","ast-featured-img":"disabled","footer-sml-layout":"","ast-disable-related-posts":"","theme-transparent-header-meta":"default","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-4)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"class_list":["post-4114","page","type-page","status-publish","hentry"],"_links":{"self":[{"href":"https:\/\/lynceuslawfirm.com\/en\/wp-json\/wp\/v2\/pages\/4114","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lynceuslawfirm.com\/en\/wp-json\/wp\/v2\/pages"}],"about":[{"href":"https:\/\/lynceuslawfirm.com\/en\/wp-json\/wp\/v2\/types\/page"}],"author":[{"embeddable":true,"href":"https:\/\/lynceuslawfirm.com\/en\/wp-json\/wp\/v2\/users\/12"}],"replies":[{"embeddable":true,"href":"https:\/\/lynceuslawfirm.com\/en\/wp-json\/wp\/v2\/comments?post=4114"}],"version-history":[{"count":14,"href":"https:\/\/lynceuslawfirm.com\/en\/wp-json\/wp\/v2\/pages\/4114\/revisions"}],"predecessor-version":[{"id":4157,"href":"https:\/\/lynceuslawfirm.com\/en\/wp-json\/wp\/v2\/pages\/4114\/revisions\/4157"}],"up":[{"embeddable":true,"href":"https:\/\/lynceuslawfirm.com\/en\/wp-json\/wp\/v2\/pages\/3037"}],"wp:attachment":[{"href":"https:\/\/lynceuslawfirm.com\/en\/wp-json\/wp\/v2\/media?parent=4114"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}