|HOME | ESPAÑOL | Contact Us | Articulo en Español||Offering: Homes, Apartments, Lots, Farms, Lofts, Buildings, Hotels, Offices and Islands|
Attention Investors: Do It Right The First Time! How To Bring Money Into Colombia, AND TAKE IT OUT!
The short answers: always work through a Colombia bank. Always use Form 4
AND NOW THE PROCESS IS ONLY A ONE-STEP-OPERATION!
Before banks can accept or credit an international transfer, they perform a preliminary study to establish the origination of your money. The only way banks can document your credibility, as an honest person with "clean money", is with your help. Banks may ask you for: proof of income, labor certificates, receipts, tax returns, bank statements, etc. If you have nothing to "hide", this preliminary study will expedite your project, and help establish you in Colombia as a law abiding person.
When buying a new house or apartment through Paul Juan Realty, wire the money from your bank to the developer’s Bank Account. Paul will make sure that your money will be received with Form 4.
If when buying a pre-owned property, the Buyer does not have a Colombian Bank account, the process requires more coordination between the intermediary, (for example: Paul Juan) and the Buyer(s), and the Seller’(s). You should wire the money directly into the Seller(s) account. Paul will be certain that your money is received, with Form 4.
As of July 17, 2009 the government of Colombia, Decrees Law 2603 relating to the investment registration for real estate purchases are now a single one-step-operation: bring in the money to a Colombian Bank with Form 4. The old Form 11 is no longer needed for first time investments. With the use of Form 4, the registration of your investment is complete.
Before the new Decree 2603, investors were required to present proof of investment, including a Title Certificate or a Purchase Contract. Now the government is using the good faith principle, in that it is taking for granted that the investor is telling the truth relating to the execution of the registration of investment, using only the Form 4.
The investor is responsible for keeping all documentation, and title proof. The Superintendencia de Sociedades may exert control against the investment if the investor cannot display the required documentation.
All foreign investors must have a responsible (legally established) representative in Colombia. Paul Juan will act as such, and prepare and sign the necessary Form 4. Paul can be held accountable with the Colombian authorities if the investment paperwork was incorrectly prepared in accordance with Colombian Law.
When an international investor properly brings in money into Colombia, to buy real estate, the investor receives, what Colombian authorities call: “Exchange rights”. This means that the investor can take out the capital investment, plus the profit, tax free, when the property is sold.
If the investment is $200,000 USD, or more, an automatic prerogative is established for a Colombian Resident Visa. The investor presents Form 4 at the nearest consulate, to receive a new Resident Visa.
Source: Circular Reglamentaria DCIN 83, Banco de La República website: (Spanish) http://banrep.gov.co/es/node/31147.
E-Mail: firstname.lastname@example.org. Phone Call Reception: Mon Thru Friday 9:00am - 1:00pm and 2:00pm - 6:00pm. Saturday 9:30am - 1:30 pm.
Office: Bocagrande, Cra. 1 Calle 13 Edificio Cartagena de Indias - Local 1. Tel.: (57 5) 665 0515. Celular: (57) 311 660 2756. Cartagena de Indias, Colombia.
© Paul Juan Realty, and/or its clients. All rights reserved. All information deemed reliable but not guaranteed.