Article 33 of the Código de Comercio establishes that the registration will be renewed annually within the first three months of every year, i.e. the term expires March 31, when all registered entrepreneurs must renew their registration and that of their commercial establishments, branches or agencies.

A merchant who fails to comply with the obligation to renew their mercantile registration in a timely manner will be subject to the penalties provided for in article 37 of the Código de Comercio (spanish version).

Sanctions that are imposed by the Superintendence of Industry and Commerce.

In accordance with the provisions of article 31 of Law 1727 of 2014, the chambers of commerce should clear the Unified Commercial and Social Registry (RUES) database annually.

• Commercial companies and other legal persons that have not fulfilled the obligation to renew the mercantile registration or registry (as the case may be), in the last five (5) years will be dissolved and in left in a state of liquidation.
• The cancellation of the mercantile registration of natural persons, commercial establishments, branches, and agencies that have failed to fulfill the obligation to renew the mercantile registration in the last five (5) years.

Yes, merchants, natural or legal persons, and other people who have not renewed the merchant's certificate in the terms mentioned above, will have a period of one (1) year as of the entry into force of Law 1727 of 2014 to update and renew the merchant's certificate.

• Chambers of Commerce will inform stakeholders ahead of time about the aforementioned conditions, through a letter or communique that is sent via email to the last registered address, if applicable.
• Also, at least one (1) annual notice will be published during the first three (3) months in a nationally distributed newspaper to inform registered parties about the requirement to comply with the obligation and the consequences of not doing so.