How to register form #4 when depositing payments into constructor account

aracne says on Aug 17, 2007, 08:16:

Hi El Dorado. There's actually two different forms that has to be filled when you make a deposit or wire transfer: one by the seller and one by the buyer. The seller will have to fill the form 4 once he receive the money in his bank account; the buyer will have to fill the form 11 once he got the Record's Office Certification prooving the purchase or acquisition of a property.

This means two different moments: the seller will have to do it right the way in order to receive the money (otherwise it will remain in dollars in the bank account and will be returned to the source after 30 days); the buyer will have to do it only after the construction is finished and has receive the title.

Hope this can help you.

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eldorado says on Aug 17, 2007, 09:32:

Thanks a million Aracne
Your info is so clear and correct !
You should teach all MRE clerk and realtors :-)...none of them really explain this well and some are not even aware of it

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calipro says on Aug 25, 2007, 18:39:

Are you depositing the money into a U.S. bank account?

You will need the transaction number off of the deposit slips to fill out form 11.

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robi666 says on Aug 25, 2007, 18:45:

Formularios y instructivos
https://quimbaya.banrep.gov.co/secinternet/operaciones.jsp?opcion=inve...

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."

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robi666 says on Aug 26, 2007, 07:05:

I hope Aracne knows what he's talking about. You're doing more than one payment.
By reading the Circular Reglamentaria Externa DCIN - 83, chapter 7.2.3, it states that you have to file form 11 at maximum 3 months after the transfer of money and the file of form 4 (or after 6 months if you ask for a delay with form 17). So, I have the impression that you should file multiple form 11, with the "promesa the compraventa o el contrato del encargo fiduciario", each one reporting each payment and form 4 filed.
But I am not an expert... and if I was in your situation, I would ask if Aracne was in the same situation, did it before and waited until the end of all the payments (more than 3 months) to file form 11 and Banco de la Republica said that it was ok by registering his investment, then it would be fine for me.
If I ask it to a Colombian attorney and he says it is ok, I would NOT fucking trust him and I'd ask him to write to Banco de la Republica to ask and wait for a written answer.

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."

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robi666 says on Aug 26, 2007, 07:09:

I see nowhere on the Circular that you can wait more than 3 months (6 months if you ask for a delay) from form 4 to file form 11. And that would be enough for me to not trust a lawyer that tell me the contrary. Remember, once they give you a bad advice, and you do the wrong thing, your problem...

"I am a citizen of the most beautiful nation on earth. A nation whose laws are harsh yet simple, a nation that never cheats, which is immense and without borders, where life is lived in the present."

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