ATTENTION INVESTORS: Do It Right The First Time!
How to bring money INTO Colombia, AND take it OUT.

The short answer: work through a Colombia bank.

The Colombia government requires foreign investors to use "clean, non laundered money". Since 9-11, all responsible governments are cooperating in the exchange of information relating to international transfer of funds. Governments control their banking systems. When investors try to circumvent government bank regulations, they can end up paying heavy fines.

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 also help establish you in Colombia. as a law abiding person. Paul will be happy to introduce you to a bank in Cartagena, and guide you through the process. As Paul says: "it's no big deal, and now days, all responsible countries require this".

When buying a new house or apartment through Paul Juan Realty, wiring money from your bank to the developers Fiduciary Account (similar to an Escrow Account) is simplified because the relationship between the bank and the developer is established.

If buying a pre-owned property, and the Buyer does not have a Colombian Bank account, the process requires more coordination between the intermediary or agent (Paul Juan) and the Buyer(s), and Seller(s). Paul will obtain, and have notarized, a legal Contract protecting the Buyer, so the down payment or purchase money can be wired direct to the Seller´s bank account.

In all cases, Paul will assist Buyers to make sure your money is received in Colombia with a Formulario 4 (form 4) at a Cartagena Bank. Once the Deed is registered, it is then presented as your investment in Colombia, to the Federal Banco Republica on a Formulario 11 (form 11). The Buyer will receive an official document with confirmation of the registration of the investment. Compliance with both Forms 4 and 11, entitles Buyer's to take the cost(s) of their original investment(s) out of Colombia, tax free, with no hassle.

Net profits earned from investments are taxed by the Colombia government, at reasonable rates, before profits can be transferred out of Colombia.

Paul Juan will perform the above procedures, or if you prefer to do-it-yourself, Paul will be happy to literally "walk" you through the process. Naturally, this service is included in the standard 3% real estate commission payable at time of closing.

Life is to be enjoyed. Keep it simple. Keep it honest. Do it right the first time!