fecherklyn has written 15 posts

Colombian Peso Fixed Deposits - Why bother?

Some time ago I placed some money in COP for a 9 month fixed term with my bank in Colombia at 8.69% (Tasa Efectiva Anual). I thought this was a good deal when I compared with the vastly inferior rates I would have obtained on US$ or Euro deposits. My self congratulations were somewhat doused when I got the final result. The final paid interest was diminished by the following: -The interest computation is actually perfomed on the Tasa Nominal Anual at 8.6147%, somewhat lower than the Tasa E ...

"Bank" holidays are great for banks in Colombia

Think about all the "bank", or public, holidays there are in Colombia....quite a few eh? Well, they have more than a purely recreational interest. A couple of days ago I went to my bank to decide what to do with a "Deposito A Termino" (A type of fixed term deposit or CDT) that was maturing that day. For some reason I was unusually (for me) vigilant and checked the interest they were paying on the maturing deposit. The deposit period was from June 19th 2007, maturing March 25th 2008 which I ca ...

About US Tourist Visas and Travelling to Cuba

My British son will be holidaying in Cuba later this year and wants me and my wife to join him. This is no problem for me and my son (I think) as we both hold British passports and profit from the Visa waiver exemption when we want to visit the US. But is the problem different for my wife who has a US Multi entry tourist visa for the US? Is she likely to have problems entering the US the next time when her passport will show she recently visited Cuba? Your opinions/experiences will be app ...

To those who understand the markets.....please explain

After glancing at today's financial news headlines I checked the state of the markets expecting the worst. To my surprise the DJ was up 150 points at 12,720 (at 13h00 Colombia time), following healthy rises in Europe also). Why was I surprised? Because the news headlines reported the following: January foreclosures up 57% compared to 1 year ago. Home prices (USA) declined by 9.1% in Dec (v/s 12 months ago), the most in 20 years according to the S&P Case/Shiller Home Price index. The ...

This isn't me. I resent your insinuation

I login to PBH every few days because it is a sounding board for me on the findings of other expatriates in Colombia and how Colombians may see "me".I love its opportunity for the thrust and parry of goodnatured debate and the opportunity to ask and answer questions. But some of the unfounded generalisations initially cause me to frown and then, when oft repeated, get me annoyed. So how representative are the views of the "local" posters on PBH? And indeed, are some "foreign" posters imaginin ...

Property pricing in Colombia. Is there any logic?

I have been trying to find a logic for the pricing relationship between old and new properties in Colombia….but have failed miserably. And this is not from a “newbie�? trying to find his way as I have been here 5 years now and am on my 4th purchase/3rd sale. So what don’t I understand? There seems to be a complete dislocation between the prices of old and new. Example: A new development across the road from where I live in Medellin is costing 31% more per m2 than the realistic sales pr ...

So what will happen now?

Ok, but what next? What has really changed? The changes I see are that 2 hostages out of approx 700 have been released and Chavez has demonstrated he has some influence on the Farc when he chooses to use it. As SnT says elsewhere, “So what happens when the media frenzy dies down?�?Are the basic problems really altered? I don’t think so. Uribe remains confronted by a Farc that he appears unable to eradicate. The reasons for the Farc’s survival appear to have nothing to do with dem ...

What should I be paying?

I'm just an ordinary guy, from Europe and retired with my Colombian wife in Colombia. For reasons of tax liabilities in Europe I need to produce tax declarations from my place of residence, Colombia. Thus, apparently unlike most of you I regularly submit a truthful declaration of my incomes and patrimony here in Colombia even though the amounts I am concerned with attract no local tax liabilities. As my Spanish is not so good and everything to do with Colombian tax legislation seems impossibl ...

Serious question: Where is Colombia's interest?

Ok, this is a serious question and I will welcome any serious replies or opinions. But to rule out in advance any sub-themes let me assure you that in asking this question I am neither markedly pro or anti USA, nor pro or anti Trade Agreements. I simply do not understand certain aspects of the subject and would like to be better informed. The matter concerns the prospective Trade Agreement between the USA and Colombia and (my question) how does one identify the interests of both parties? As a ...

A Republica Bolivariana de Colombia?

John Stark said recently in the “New Apartment, COST per Square Ft�? thread that: “In a few years you could be looking at another Chavez in Colombia and then what will your apartments be worth? You'll be lucky to get 10 cents on the dollar then.�? What do PBH posters think about prospects for a Chavez style socialist republic? Could there be a “Republica Bolivariana de Colombia�? in a few years? This is a serious question. I was in Venezuela when Chavez was first elected on a ...

Driving and pedestrian discipline in Colombia.

I love Colombia and would not want to live elsewhere but there is one thing that really gets on my nerves....the attitudes of many drivers and most pedestrians. My driving habits originate from Europe and the USA and I have great problems in controlling my temper as I go through the daily routine of "near misses". My wife (Colombian) constantly tells me not to react in any way as the slightest sign of displeasure will sooner or later get me shot (According to her most drivers carry some fo ...

Is renting out a property a good business proposition?

This question has probably been asked asked many times before but I cannot see anything recent. I am envisaging buying an appartment and renting it out for a few years until I need it later. But is this a good business proposition? The way I see it is that if I do it the rental income must cover the lost interest on the cash I have used (say 8% p.a. based on current CDT's) together with the other costs I would have to support (Condo fees, something for maintenance...and what else?) I h ...

New Rules on EPS?

I am completely lost. Can anyone help me? My wife (Colombian) and I (British) pay into an EPS for medical coverage. But this week we have been advised EPS and State pension contributions are being merged and if we do not take on pensions contributions we shall no longer be able contribute to the EPS. Our problem is that I am already retired and have no need for further pension contributions. Equally, my wife has never worked in Colombia and to start making pension contributions now makes l ...

US Social Security Payments

Can any of you help with the following query? My Colombian wife's father worked in the USA for about 10 years, paying social security contributions throughout this period. On his return to Colombia he died before pension age. At this time his widow made some vague enquiries from the US Embassy here to see if she could be entitled to any form of "Widow's Pension". She was told "No". I would now like to check this as it seems strange to me the US Govt would take 10 years contributions and th ...

AM I BEING TAXED OUT OF COLOMBIA?

This is my 1st post so please bear with me.

I am British, married to a Colombian lady and retired. My wife and I have been living here in Colombia for the last 4 years and early next year I should be eligible for a permanent resident visa. However, I am so unsure of how I will be taxed after I get a permanent visa that I wonder if we can afford to stay?

Income Taxes

On other threads I seem to have understood that my worldwide incomes will become taxa ...

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