Investment Visa: the saga continues...

elk says on Sep 6, 2007, 11:18:

You have the option of the Rentista visa which requires a deposit of approximately $24,000 in a foreign bank in the form of a C.D. etc.

Several people on PBH have this visa and live in Colombia full time.

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pedro says on Sep 6, 2007, 11:44:

You've asked plenty of questions on the forum. You got plenty of answers, including from me. It's time you started giving something back.

I am in a similar situation, although I have not started looking at property seriously yet. Please let me know what you end up finding out about this situation. PM if necessary.

When you ask a question (like your IBAN bank transfer), it's only courteous to revisit the thread and post the answer so that someone else can benefit. So far you've only posted "please help me right now" type queries but you never post the eventual solution.

How does the Banco de la Republica know your date of entry?

que nota!

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gringoloid says on Sep 6, 2007, 11:52:

Usher, I told you back in mid-July that there was a much easier and a whole lot less costlier way.

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usher127 says on Sep 6, 2007, 13:42:

Fair point Pedro... I will add some responses to the other threads...

Gringoloid... not sure what you mean... I want to buy an apartment primarily for the residency, but for reasons too. Many people tell me I am wasting my money, but that's not really helpful advice.

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Gator says on Sep 6, 2007, 13:50:

"Tthe Banco de Republica have just told me that while I can buy the property, they wont give me residency (the main/only reason i'm buying the property) because I have already been here 6 months ."

?????????????/ Small point. When did the Banco de República start issuing visas?????????????

For a little more luck try MRE or a Colombian Consulate.

"Brevior Sltare Cum Deformibus Mulieribus Est Vita!" .

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usher127 says on Sep 6, 2007, 14:02:

OK.. so it's actually the ministry of foreign affairs... I guess I meant the Banco de Republica, wont process form 4... if I have been here for 6 months.

I dont think they do know my entry date... although my bank does, so if they bother to ask this question... its game over.

This whole issue is still a little vague... as I currently understand it... whilst this law is true, it is generally not in practice. The current plan of action is try and process forms 4 and 11 without a hiccup and when I then go to the ministry of Foreign affairs... they will not be interested in looking at my entry date... they will simply want to verify form 11 before giving me residency.

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robi666 says on Sep 6, 2007, 14:57:

When I filed form 4 and 11, I had been living here for almost one year. Banco de la Republica made the registration (I got the receipt) and it has been more than one year ago now. So i guess I won't hear from them.
Anyway, I could they do to check it?
The do not ask a copy of your passport, nor a copy of the entry stamps when filing form 4 or 11. Of course, they do have the number of the passport on the forms, but, do you think they will make a deep surveying on your case, call DAS, ask for the entry registry of all Colombian borders, make the calculation between coming in and out, and find it out? Nah...
For what? They are not giving out money.
Again, at the MRE, they haven't got any responsibilities on the registration of the international investment. So, I guess that having the right document (the report from Banco de La Republica of the investment) is fine with them and they will issue the investor VISA.
Hope for usher all this is true!
Anyway, there is another thread started by cassini on the six months 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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pedro says on Sep 6, 2007, 15:21:

Usher, the info on the other threads looks really useful. Thanks, it's appreciated!

To have absolute confidence, you would need to look in detail at the law about the "6 month limit after which you cannot be considered an international investor". Depends if it says "physically in Colombia" or "legally resident in Colombia" or some other wording.

The thing is, as a tourist you're not legally resident in Colombia. You just happen to be visiting. You just tell them you've only immigrated there less than 6 months ago. If you stayed the first 6 months on tourist visas, you don't even mention that time period, because you were a legal resident of your home country during this time -- you were only visiting Colombia.

So I would not panic and assume the 6 months definitely includes your tourist time.

In any case, Robi has given good advice about just not volunteering information. I am not sure of the wire transfer process and when Form 4 is filed and how much the local branch of your bank is involved. But as far as your local bank is involved, just try and be so nice and polite and genuine with them that you're the nicest person they've seen all week and they want to help you. Hopefully the branch manager or a high level staffer already knows who you are and what your situation is and wants to help you.

I don't think you have an issue here, just go with the flow and listen to people like Robi who have done this from start to finish.

In Colombia, you always get conflicting advice on what the law is, depending on who you ask within the department. In this case, it works in your favour cause you only need to find the one person who'll give you the approval for Form 4 / Form 11.

que nota!

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pedro says on Sep 6, 2007, 15:22:

.

que nota!

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robi666 says on Sep 6, 2007, 15:32:

Actually, the 6 months limit is wildly illogical.
The reason behind that is DIAN (and BdlR relates to DIAN). For DIAN, if you live here for 6 months then you are considered resident.
Of course, for MRE (and DAS) you are NOT. That's why they have to give you a resident VISA.
There is no logic: you are a resident and then you are not entitled to stay.
I am sure this whole think is subject to a change soon.

Just two years and an half ago, you could not buy an apartment without a cedula, because it was not allowed in a notaria. But you needed to put it at your name to file form 4 and then 11 (and to not put at another person name and make him or her pay for ganancia ocasional), and then get a cedula.
This changed with a circular from the head of notarios that affirmed that notaria were not an immigration enforcement group but the DAS is.

"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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tomtom33 says on Sep 6, 2007, 16:26:

Robi, I bought an apartment in Dec. of 2003 without a cedula. All I had was a US passport. And I had no problem getting the proper forms from Banco de la Republica.

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robi666 says on Sep 6, 2007, 18:18:

Tom, I could not buy in Medellin and they actually showed me the law after they refused to put the apartment at my name, and, after it came out, the "circular of Bogotà central notaria" which contained the new rule about passport.
Did you buy on the coast? Did you use an official agent for the escritura? Was the regulation different back then?... oh well, Colombia is Colombia!

"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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tomtom33 says on Sep 7, 2007, 04:49:

I bought in Cartagena. An agent handled the whole thing for me.

Imagine that, laws being enforced differently in different parts of the country.

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