Yes, it is mandatory to register foreign investment. All investments made by a foreigner in Colombia, including foreign currency that enters the country by individuals who are not Colombian residents, and that are destined as capital contributions for a company, or a branch of a foreign company must be registered before the Bank of the Republic under the figure of foreign investment.
Investors or their attorneys-in-fact must submit to the Bank of the Republic, directly or through the entities determined by it, a registration statement of: (i) the initial or additional investments; (ii) changes in the holders, in the destination or in the company receiving the investment and, (iii) the cancellation of the investments.
In the case of foreign currency, the registration is by channeling the money through an intermediary in the exchange market or through a clearing account. In addition, the Foreign Exchange Declaration for International Investments - Form 4 available at the website of the Bank of the Republic. https://www.banrep.gov.co/sites/default/files/paginas/instr420031201.pdf
For the case of corporate reorganizations abroad, Form 11A must be completed, available at the website of the Bank of the Republic. https://www.banrep.gov.co/es/contenidos/reglamentaci-n/f-formulario-no-11a-declaracion-registro-inversiones-internacionales
According to Decree 119 of 2017, the verification function in charge of the Bank of the Republic was eliminated, and it was established that the information declared in the registry is provided under oath; additionally, the possibility was given to submit the registration, corrections, updates, changes and cancellations at any time, by the legal representative of the company receiving foreign investments in Colombia.