Thread: Buying Property in Colombia
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04-27-07 09:21 #72
Don't buy in Colombia, rent!
I have been the victim of a paternity suit in Colombia for the past year. Guess what would happen to me if I entered the country? At the airport DAS would detain me until I paid $$$$ to the woman's lawyer for the costs of the child being born and enough for the future support for 18 years. Then I would be released from jail.
I almost bought a condo in Cartegena MANY times. I thank the good Lord now that I did not. If I had bought one, I would not be able to use it until the paternity lawsuit gets over. And do you really think I want to go to a Colombian Court and play by their rules over paternity? Can I trust their doctors to do a fair test, or will someone slip them $100 to change the results? How about the Colombia Judge? Can you trust them?
Why buy when you can rent?
You don't have the same protections of the court system that you do in the US!
In Florida we have the right to a jury Trial over paternity!
Fortunately the girl is softening up and has agreed, after one year, to drop the lawsuit. I will then travel to Colombia and voluntarity have a DNA test done!
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04-04-07 05:45 #71
Paisita05:
Interested in both the properties AND the women you have for sale.
Details?
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04-03-07 22:23 #70
Why buy a place in Colombia?
Unless your going to go expat, but then why do that?
People are going to know you have money.
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04-03-07 18:14 #69It *is* the "Buying Property in Colombia" section. What did you expect to find here?
Originally Posted by JadeWarrior
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03-31-07 12:05 #68
Please don't
Continual posting of something you have for sale or rent that are not women would be a drag. Please cease and desist. I for one would consider it spam on this site.
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12-26-06 08:13 #67
Jelly is right.
For more info go to www.colombianblog.com and check on the forum there. There is a complete section on moving to Colombia with loads of details on getting visas and buying property, including first-hand accounts of how people have screwed up and what NOT to do. ABSOLUTELY do not trust a Colombian lawyer, once again Jelly is right, many of them simply do not know what they are talking about.
DO NOT UNDER ANY CIRCUMSTANCES bring money into Colombia without filling out formularios 4 first and formulario 11 SHORTLY thereafter. And NO YOU DO NOT need any type of visa to buy property in Colombia.
To get a small investor visa you need $18k and it doesn't have to be in Colombia at the time, they will accept a statement from an American account, along with a buttload of other paperwork. To get automatic permanent residency you need to have $100k to invest. IIRC in both cases you need a business plan and a bunch of other PITA shit.
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12-26-06 03:04 #66
Fire this lawyer right now. He has abolutely NO idea what he is talking about. Even Albert knows more than this.
You cannot obtain an investor visa until *AFTER* you make the investment. And you cannot make the investment without a bank account first.
Originally Posted by Talisman
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12-26-06 02:14 #65
I have bought 4 properties in Colombia over the last 4 years. I also have 3 bank accounts, Citibank, BankColombia f/business a smaill savings account at what was the Tequendama. You need a cedula that requires a Visa, may be any kind of Visa, business, retirement, etc. Most Visas is only good for 1 year and must be renewed as such. I finally have enough investment to qualify for an investor type Visa ($100,000 minimum) reported to the National bank as an investment). I have used 3 different lawyers in Colombia and they all give different answers to most questions and represented themselves as "experts". I think that they truly believe their own liws sometimes and as some know I have 0 tolerance for total incompetence shown by these assholes. Read the laws, they are posted on the website or find someone that has actually been through the process.
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12-25-06 21:18 #64
Buying Property
Normally you can only open a bank account in Colombia if you have a Colombian ID Card (Cedula), which you get after you have recieved your visa (there are many types of visas).
You can buy property in Colombia on your passport alone.
There are many ways of purchasing a property without opening your own bank account, you can pay cash in one go (a lot of bills though), cash in instalments (using dollars brought with you and/or your Debit/Credit cards), sending the money from abroad to a third parties bank account (need to trust the person though), deposting the money in a bank account outside of Colombia (again some trust involved here, but less if you do it correctly), I have heard quite a few people doing this one as there are a lot of Colombians in the USA.
If you donīt use the banking system to bring in the money, you can not declare it with regards to form 4 & 11, so you would be liable to pay tax if you tried to move the money out of Colombia using the official banking system, obviously you could take it our with you, unless it is a large amount of money this is pretty easy to do over a few trips.
If you are buying in a place where other foreigners are also buy, you will probably be able to sell your property to another foreigner and have him deposit the money in his home Country, presuming you have a bank account there.
Hunter
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12-25-06 18:57 #63
money issues
Hello fellows,
One Lawyer in Cali told me all U.S citizens must have an investor visa to obtain a bank account in Colombia. There are different types and it is worth to contact the Colombian embassy to know more about it.
I inquired about this subject since I am thinking to buy real estate in Colombia.
I spoke with Another lawyer for second opinion, and was told the same, but he added that many gringos buy property without any visa and it is by law legal, but to open an account in your name you need a Colombian residency or have a company registered in Colombia.
I have found many interesting and useful tips on this forum, but when it comes to money issues, you need to ask the right person for it.
If you need any of the lawyers info, let me know.
One in Cali is Immigration lawyer.
Second one is in Cartagena and does real estate primarily.
T.man
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12-23-06 01:03 #62
If you bring the money in through other means, like $9,950 in your pocket, then there is no record that you legally imported the money. This means when you want to bring the money out in the future it will be considered money made inside Colombia, and therefore taxable at 40%.
So if we are talking more than $20,000 I would take the time to get the visa and a valid bank account.
Listen, there is something else that is very important here. There is no shortage of idiots who will give you bad advise about money issues in Colombia. I would guess over 90% of the gringos have ABSOLUTELY no idea about money issues in Colombia. Many of the bank managers do not even know the rules because they never deal with foreigners. However, there is no shortage of foreigners who will give you the wrong advise since they think they know what they are talking about.
Most people on this board would fall into the category of not being too smart, but like dumb people everywhere, they all think they know it all. If you are considering importing any significant amount of money then this board is the last place you want to be getting advise from!!
Originally Posted by AddictedToWomen
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12-23-06 00:33 #61
There is if you don't mind your money going into somebody else's bank account.
If you have $18k USD in the bank you can get an investor's visa, and then open up your own bank account.
You can also buy property in Colombia from NYC or Miami from Mupi Corporation. You can even take out a mortgage here for property down there. They are on Roosevelt Av in Queens NY and their # is 718 639 1286
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12-22-06 23:55 #60
So there's no way of getting money into the country for investment without having a visa?
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12-22-06 06:37 #59
Filling out Forms 4 and 11 doesn't protect you against currency fluctuations, nothing on earth does that, sorry.
Those forms allow you to repatriate the funds at a later time if so desired without having to pay an extra tax on money leaving the country, which could be anywhere from 10 to 47%!
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12-22-06 00:36 #58
Bring it in through a bank and then fill out formulario 4 and 11. You will need a bank account for this. In order to have a bank account you need a cedula. In order to have a cedula you need a visa other than a tourist visa.
Originally Posted by AddictedToWomen
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