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92. Portfolio Investments:It is done through foreign equity funds in shares, bonds and other titles registered inthe National Registry of Security and Issuers.It is mandatory for a purpose of carrying out investments in the public stock Exchangeto be present.There must be both an international administrator and a local one.These investor funds may be institutional (registered in a country outside ofColombia); only needing an authorization from the Colombian FinancialSuperintendence and a NIT (Fiscal Identification Number) or individual when theinvestment is meant to cannel treasury excess, the latter do not need any form ofauthorization.Investment Methods:1. Transfer of foreign currencies through the Exchange market so as to contribute directly to acompany’s capital or to acquire rights or shares from third parties in already existingsocieties.2. In kind, directly with the delivery or transfer of a tangible or an intangible asset; or indirectlyby means of a capitalization in favor of the investor.3. By means of resources in local currency originating in local credit operations that will beused in the acquisition of shares through the public stock market.4. The contribution in kind of intangible assets to the capital of a company, such astechnological contributions, trademarks, susceptible of depreciation according to Colombianaccountancy standards.5. By means of resources in local currency entitled to be dispatched to the investor of capitalabroad, that come from operations that has to be channeled through the currency exchangemarket.Treatment standards for investors.It is materialized in obligations that are a development of the principle of equality. The maincommitments are:National Treatment: It consists in treating foreign investments in a manner that is notless favorable than the one given to national investments.Most favored nation treatment: Colombia grants the same advantages, which havebeen agreed upon in another multilateral investment agreement, to foreign investorsthat are resident in another particular state.