buying in Colombia

lawyer CO says on Jun 23, 2007, 08:03:

Well, in general terms foreign citizens can buy any property. The matter consists in the way to pay for it. You would need to do an international transfer through a bank and then fill some forms.

if you dont do this way, you could be exposed to some penalties and criminal process.( suspect of tax fraud)

Esteban R.
colombian lawyer
email: lawyerscolombia at yahoo.com

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Lowell says on Jun 23, 2007, 09:28:

I brought in the money to buy my place by using ATM's. I registered the play in my name, my wife's name and our daughters name.

"if you dont do this way, you could be exposed to some penalties and criminal process.( suspect of tax fraud)"

Have I done something wrong?

Alfred E. Newman. "What. Me Worry?"

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Lowell says on Jun 23, 2007, 09:28:

change play to place

Alfred E. Newman. "What. Me Worry?"

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lawyer CO says on Jun 23, 2007, 09:33:

Lowell: the problem is that the property was no registered as foreign investment so you lost benefits as the possibility to apply for the investor visa( residence) and the excemption of some taxes associated.

There have been cases where the DIAN has required prove if the money was declared and this could be a problem in your case. Let`s hope no one notices this!.

Esteban

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Lowell says on Jun 23, 2007, 10:06:

I have no plans of trying to take the the money out of the country should I ever have to sell the place. I have no plans of selling, even if I seperate from my wife. I don't want to list it as an foreign investment. Plus, the value of the property registered is basicly just the value of the property and not the structure. Well below the ammount needed for an Investor Visa. In the event of a divorce or my wife passing away, I'll apply for a Pensionado Visa.

Hey, can I apply for a "Daddy Visa"?

Alfred E. Newman. "What. Me Worry?"

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kalder says on Jun 25, 2007, 02:40:

Lowell- does a Spousal Visa expire upon being divorced or widowed then?

"kalder- have you ever had a woman?"--Sam Salmon

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tomtom33 says on Jun 25, 2007, 04:16:

I don't believe that the registration is optional. If the failure to register comes to light, grab your cheeks and hold on. You are in for some fun, Colombian style.

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Lowell says on Jun 25, 2007, 07:13:

kalder,

I believe so as every time a new Visa is issued the spouce must submit a letter in support of the other spouse.

Alfred E. Newman. "What. Me Worry?"

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mark1 says on Jun 25, 2007, 21:37:

lawyer co is correct. also, you MUST transfer your money to a colombian bank and then file form # 4 with the bank de la republica or if / when you sell you pay capital gains tax on the total amount you sell it for, not just the profit you made, and, you can also have big problems with DIAN (colombian IRS). then within 90 days you must file form # 11 which allows you to transfer your pesos back to US $ when / if you sell. the problem is most, or all, banks will not transfer your US $ in to colombia for you to purchase unless you have about a 6 month PERSONAL relationship with them. first, open your bank account and get to know the manager everytime you go in. forget the atm gig. do things the right way. read tomtom33's note and i also hear the colombian jails don't have color tv's.

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kalder says on Jun 26, 2007, 11:17:

Lowell- So does a Spousal Visa have to be renewed every so often?

If your spouse divorces you or (God forbid) dies, do you lose your right to residency in Colombia?

"kalder- have you ever had a woman?"--Sam Salmon

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Robert Jorge says on Jun 27, 2007, 02:04:

That would be horrible Kalder, but is a damn good question. I can't imagine being married, living in Colombia, my wife dying, and then me getting kicked out for good measure. I believe I remember people saying that if you have a spousal visa, after living in Colombia for "X" amount of time, you can then obtain a permanent residency in Colombia. I believe Gator mentioned that in the recent past.

He who farts in church, sits in his own pew.

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