Colombian Real Estate Sales

With regard to property purchases, foreigners have the same rights as Colombian citizens. There are no limits on the type of property or area in which it can be bought.

To open an account, you will need to book an appointment with the bank and will need to bring with you your passport, visa and Cédula de Extranjería (Foreigner Identification Card) and your address details. You will not be able to open an account without your Cédula de Extranjería.

In general, yes, it is safe to live in many parts of Colombia. … Living in Colombia is safer than in many other countries around the world. As a matter of fact, Bogotá and Medellín, the two largest cities in the country, rank safer than quite a few U.S. cities according to the 2018 Numbeo Crime Index.

Quality housing in Colombia is very affordable for expatriates in most cities. Some Colombian cities may prove a bit too expensive for someone living alone on a $1,000 budget but $1,500 would be enough for most people to live modestly.

Yes, to comply with IRS rules your US accountant will need to send you the complete list of requirements. You’ll need a Colombian company setup in the same name as your US LLC which can then acquire the Colombian assets.

As a general guide you can expect to pay 1.3% – 1.5% in closing costs associated taxes and notary fees, and anywhere between from $1,000 – $2,000 USD in legal fees depending on the transaction.