For Foreign Buyers: Rights, Requirements & Red Flags
📋 Introduction:
Thinking of buying real estate in Colombia? This guide breaks down the legal process, required documentation, foreigner rights, and steps to protect your investment. Whether you’re buying as a retiree, digital nomad, or investor, here’s what you must know before signing.
Thinking about buying in Medellín?
Make sure you also read our Complete 2025 Buyer’s Guide for Foreigners before starting your search.
🔹 Can Foreigners Own Property in Colombia?
- ✅ Yes — foreigners can buy, own, and sell property with full ownership rights
- No citizenship or residency required
- You can hold property in your personal name or via a Colombian company
Not sure where to buy?
Explore the Best Areas to Invest in Medellín for short- and long-term gains.
🔹 What Documents Are Required to Buy?
- Valid passport
- Colombian Tax ID (NIT or cedula de extranjería)
- Notarized sales agreement (Promesa de compraventa)
- Proof of income or funds origin (especially for large wire transfers)
- Bank certificate if using a Colombian account
🔹 Step-by-Step Legal Process to Buy Property
- 🧾 Sign the Promesa de Compraventa (sales agreement)
- 💰 Deposit earnest money (usually 10%)
- 🏛️ Title check by lawyer or notary (due diligence)
- 📤 Send funds via Banco de la República (Form 4 registration)
- 🖋️ Sign final deed at notary (Escritura Pública)
- 🧾 Register title at Oficina de Registro de Instrumentos Públicos
🔹 What Are Form 4 & Banco de la República Requirements?
- Form 4 tracks foreign capital entering Colombia
- Must be filled when transferring money into a Colombian account
- Ensures your funds are legally protected and eligible for repatriation
🔹 Do I Need a Lawyer to Buy Property in Colombia?
- Strongly recommended but not legally required
- A real estate lawyer will:
- Review the title
- Draft/review contracts
- Protect your interests during closing
Want a trusted local contact?
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🔹 How Much Are Legal Fees and Closing Costs?
- Notary & registration: 1–1.5% of property value
- Lawyer fees: $1,000–$2,500 USD
- Municipal taxes and filing fees: Varies by city
🔹 Red Flags to Watch Out For
- Informal sales agreements or verbal promises
- Properties without proper registration or utilities
- Buying directly from the owner without title check
- No Form 4 = No proof your money entered legally = Problems later
❓FAQ Section (Also for Schema Markup)
Is dual ownership or joint title allowed in Colombia?
- Yes. You can co-own property with a spouse, partner, or business partner.
Can I buy with a U.S. or foreign company?
- Yes, through a Colombian branch or new entity. Legal setup and tax filings required.
Can I get residency or visa by buying property?
- Yes, with investments over 350 minimum wages (approx. ~$90,000 USD), you may qualify for an investor visa.
Can I sell later and repatriate my money?
- Yes, if you use Form 4 at purchase to register capital entry.
📩 CTA (Call to Action)
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