Source: https://rivet.global/blog/colombia-companies-receiving-foreign-payments-exchange-rules
Published: 2026-10-01 · Updated: 2026-10-01 · By Rashidatou K.

# Colombian companies receiving foreign payments: exchange rules for exporters of services

How Colombian companies receive foreign payments under Banco de la República rules: what goes through the exchange market, compensation accounts, records.

## Key takeaways

- Under Colombia's exchange regime, proceeds from exports of goods must be channelled through the regulated exchange market (mercado cambiario).
- Payments for services are generally free-market operations, which do not have to go through the regulated market, though they can.
- Compensation accounts (cuentas de compensación) let residents handle obligatory operations through registered accounts abroad, with reporting.
- Colombian companies issue export invoices through DIAN's electronic invoicing system.

A Medellín software company bills a Miami client US$15,800 a month. Its accountant explains a rule that surprises the founders: if the company exported coffee, the dollars would have to come through the regulated exchange market. Because it exports software services, the payment is a free-market operation, and the company has more choice about where it receives it.

## Goods and services are treated differently

Colombia's exchange regime, administered by the Banco de la República, sorts operations into two groups:

- Obligatory operations, which must be channelled through the regulated exchange market (via authorised intermediaries or registered compensation accounts). Exports and imports of goods are the main examples.
- Free-market operations, which can be carried out without going through the regulated market. Payments for services fall here.

So a Colombian company exporting services can receive payment through a Colombian bank, and many do, but the rules do not require it.

## Compensation accounts

For obligatory operations, residents can register a foreign account with the Banco de la República as a cuenta de compensación and channel those operations through it, with periodic reporting. Exporters of goods use them to keep proceeds abroad while staying within the rules.

## Invoices and IVA

Colombian companies issue invoices, including export invoices, through DIAN's electronic invoicing system. Exports of services can be exempt from IVA when the service is used abroad and the documentation requirements are met, including the contract and records showing the service was exported.

## Collecting from US clients

A Miami client wiring dollars to a Colombian bank sends an international wire, which can take days and lose an intermediary fee. US account details in the company's own name let the client pay by ACH. The company can hold the dollars and convert to pesos when it chooses, or bring them to its Colombian bank.

## Records

Keep the contract, each factura electrónica, and proof of payment. They support the IVA exemption and answer exchange questions.

## Paying into Colombia: the local rail

| What | Detail |
|---|---|
| Local rail | Bre-B interoperable instant payments; ACH Colombia for batch transfers |
| Run by | Banco de la República; ACH Colombia |
| Settlement | Bre-B in seconds, 24/7; ACH within the business day |

Source: [Banco de la República: Bre-B](https://www.banrep.gov.co/es/sistemas-pago/bre-b). Checked when this guide was last updated; the scheme's own page has the current figures.

## Where Rivet fits

Rivet opens business accounts for registered companies after verification, including Colombian companies. For services exporters, a Rivet business account gives US account details in the company's own name on every plan, euro and sterling details from the Growth plan, and payouts in 120+ countries, including Colombia. Confirm the exchange treatment of your operations with your bank or adviser. Rivet is not a bank; regulated partner institutions hold the funds.

## Questions

### Do payments for exported services have to come through a Colombian bank?

Services are generally free-market operations under Banco de la República rules, so they do not have to be channelled through the regulated exchange market. Many companies still receive them through Colombian banks. Check current rules with your bank.

### What is a cuenta de compensación?

A foreign account registered with the Banco de la República that a resident uses to channel operations that must otherwise go through the exchange market, with periodic reporting.

### Do Colombian companies need an exchange declaration?

Operations channelled through the exchange market require the relevant exchange information. Free-market operations have their own record-keeping requirements.

### Is IVA charged on exported services?

Exports of services can be exempt from IVA when they meet the conditions in the tax statute, including use abroad and supporting documents.