Why Cartagena for foreign investors?
A unique combination of exchange rate advantage, tourism demand and legal clarity.
Strong currencies
USD/EUR/CAD against COP offers 25-40% more purchasing power vs. Miami, Barcelona or Toronto.
4M tourists/year
Year-round Airbnb demand. ROI 8-16% vs. 3-5% in most US/EU markets.
No restrictions
Foreigners have the same property rights as Colombians. No special visa or permit required to buy.
Investor visa
Property purchase ≥ 350 minimum wages (~USD 110K) qualifies for M-type resident visa.
How to buy from abroad — step by step
The process typically takes 30-45 days.
Select property
Browse our catalog online or schedule virtual tours. We provide video walkthroughs, floor plans and neighborhood analysis.
Due diligence
Our legal team verifies clean title, tax records, HOA status and property boundaries. Report delivered in English.
Offer & promise of sale
Sign a "Promesa de Compraventa" with 10-30% deposit. Can be executed remotely via power of attorney.
Currency transfer
Wire USD/EUR/CAD to Colombia via authorized banks. Funds are registered with Banco de la República (Form 4) — mandatory for future repatriation.
Closing (Escritura)
Sign the deed before a Colombian notary. Can be done remotely via consulate or local power of attorney.
Registration
We file the deed with the Public Registry. Ownership transfer typically completes in 10-20 business days.
Tax & legal information
Key obligations for each country. This is orientation — always consult a licensed advisor.
🇺🇸 US Citizens & Green Card Holders
- FBAR (FinCEN 114): Required if foreign accounts exceed USD 10,000 aggregate at any point in the year.
- FATCA (Form 8938): Required if foreign assets exceed USD 50K (single) / USD 100K (joint) at year end.
- Rental income: Must be reported on Form 1040, Schedule E. Foreign tax credit available for Colombian taxes paid.
- Colombian tax on rental: ~35% withholding for non-residents on gross rental income (or net if registered).
- Capital gains on sale: 15% in Colombia + US capital gains (long-term rate). Double taxation avoided via foreign tax credit.
- Inheritance: Colombian succession tax applies. Estate planning with US-Colombia advisor recommended.
🇨🇦 Canadian Citizens & Residents
- T1135 (Foreign Income Verification): Required if foreign property cost exceeds CAD 100K.
- Rental income: Must be reported on Canadian T1 return. Foreign tax credit for Colombian withholding.
- Colombian rental tax: 35% withholding for non-residents on gross rental income (lower if you become tax resident).
- Capital gains: 15% in Colombia. Canada taxes 50% of gain at marginal rate — foreign tax credit applies.
- No estate tax treaty: Both Colombia and Canada have succession rules; proper estate planning is essential.
- Snowbird advantage: Spending winters in Cartagena is tax-efficient if structured correctly.
🇪🇸 Ciudadanos & Residentes Españoles
- Modelo 720: Declaración obligatoria de bienes en el extranjero si superan los €50.000.
- IRPF sobre alquileres: Rentas inmobiliarias en Colombia tributan en España como rendimiento de capital inmobiliario. Deducción por doble imposición.
- Retención colombiana: 35% sobre alquileres brutos a no residentes. Crédito fiscal en España.
- Ganancia patrimonial: 15% en Colombia + escala IRPF ahorro en España (19-28%). Convenio evita doble imposición.
- Impuesto sobre el Patrimonio: Si tu patrimonio mundial supera el mínimo exento (€700K + €300K vivienda habitual).
- Sucesiones: Impuesto en Colombia + en la comunidad autónoma española del heredero. Planificación fiscal clave.
FAQ — Foreign buyer questions
Do I need to be in Colombia to buy property?
No. The entire process can be done remotely through a power of attorney signed at a Colombian consulate or apostilled locally. We coordinate everything.
Can I get a mortgage as a foreigner?
Yes, but it's limited. Some Colombian banks offer mortgages to foreigners with local income or residency. Most foreign buyers pay cash or use home-country equity.
How do I send the purchase money?
Wire transfer from your foreign account to an authorized Colombian bank. The bank files "Form 4" with the Central Bank, which is essential for repatriating funds later.
Can I repatriate rental income and sale proceeds?
Yes, as long as the original purchase was registered with "Form 4". Rental income and capital from sales can be transferred back to your home country without limits.
Does buying property give me residency?
A purchase of ≥ 350 monthly minimum wages (~USD 110K) qualifies for a Type M Investor Visa (3 years, renewable, path to permanent residency).
What about property management?
We offer full-service management: tenant screening, rent collection, maintenance, taxes, Airbnb operations and bilingual owner reports.
How much are closing costs?
Approximately 2.5-3.5% of purchase price: notary fees (~0.5%), registration (~1.5%), legal fees (~1%), plus smaller admin costs.
Do you have English-speaking advisors?
Yes. Our team includes bilingual agents (EN/ES) and we partner with English-speaking attorneys and accountants specialized in foreign investors.
Ready to own a piece of Cartagena?
Schedule a free consultation with our foreign investor specialist.