Form 4 and 11

calipro says on Aug 6, 2008, 09:04:

I'm going to wire the money to my colombian bank account to buy a new apartment.
I was wondering if the fact that I have a Temporal visa made any difference.
Do colombian residents have to file forms form 4 and 11?

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guacharaca says on Aug 6, 2008, 13:09:

It is in your interest to file them. They have nothing to do with residency. It is to do with avoiding an unfair tax on repatriating your original investment. Now, should your investment exceed 100k, then you would likely be good to go with the investment visa.

Colombianos: Las armas os han dado independencia, las leyes os daran libertad. (Santander)

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fecherklyn says on Aug 6, 2008, 13:48:

Calipro, do not forget forms 4 & 11 are UNIQUELY for NON-RESIDENTS. If you have resided for more than 6 months in Colombia you cannot register the incoming funds as a "Foreign Direct Investment".

Brians, you and others have referred to significant penalties if you want to remove the money (repatriate) from Colombia without having registered the original incoming funds via the forms 4 & 11 process. Unfortunately nobody seems to have any specific information on this subject and I wonder to what extent this maybe unsubstantiated hearsay. In view of its importance I have formally ask my bankers to give me an authorative answer on the matter. I will post their reply when (and if !!) I get it.

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fecherklyn says on Aug 6, 2008, 16:19:

Gringoloid,

Glad to have got you into a good mood BUT isn't that the real pity of the matter; the fact that experience shows us NOT to have any expectations of efficiency and good service from Colombian institutions?

So I will leave you to laugh and I hope you will not mind if I persist in trying to get a straight answer to a straight question.

But I know where you are coming from. When I 1st asked this question of my local bank manager she said...."No problem, you tell me how much you want to transfer (out of the country) and where and I will do it".

I then said "so it would be ok even if I wanted to transfer COP 500 million?"

She blanched a little and said "I think I can transfer up to COP 50 million without any trouble but above that I am not sure".

I have now asked her "to get sure about the matter" and quote me the precise law and articles that set out today's legislation. She advised me today the matter was being reviewed by their legal dept and agreed it had become a topical issue now there were so many foreigners entering the country.

This could be the usual "flannel" but just maybe they are stepping up to the plate?

P.S. Who do you think assasinated JFK?

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fecherklyn says on Aug 6, 2008, 17:43:

Gringo,

Thats ok...I knew you were kidding but I was in that mood most of us know when I wanted to shout out "is there anyone there?". As you say , "too many just don't know the correct answer , and I will add, "So they make it up".

Colmena are SO WRONG. I bet someone "up there" would not be too happy to know some clerk in Colmena is doing his best to stop (non speculative) foreign money flows into the country.

Completely off-topic I know but I also am a JFK assasination plot enthusiast. I have recently finished "Someone would have talked"(Larry Hancock) and "The Hidden History of the Kennedy Years" (David Talbot). Worth reading...do you know them?

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calipro says on Aug 7, 2008, 02:22:

"Calipro, do not forget forms 4 & 11 are UNIQUELY for NON-RESIDENTS. If you have resided for more than 6 months in Colombia you cannot register the incoming funds as a "Foreign Direct Investment"."

Thanks fecherklyn

That was what I was wondering about....I'm a resident but I haven't spent 6 months in Colombia yet.

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Saltador says on Aug 7, 2008, 08:05:

gringoloid,
You can get the book from the publisher for 25 bucks:
http://www.americanfreepress.net/Final_Judgment.pdf

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pobrecito says on Aug 7, 2008, 09:01:

This book seems funny: "the secret nuclear alliance between Israel and Red China".

Jajaja.

No mas Tasco66 !

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