Colombia Foreign Investment Law

During the last fifteen years or more, Colombia has made considerable progress regarding its foreign investment legislation. As a result, the procedures for Real Estate investors are now much better defined and expeditious and provide a greater degree of stability and certainty. Foreign citizens who want to purchase real estate have full legal rights, the same as a Colombian citizen under the existing foreign investment law in Colombia.

International real estate investors benefit from Foreign Investment Law of Colombia by:

a) Allowing foreigners to buy, record, own, rent or sell real estate without limitation and the sale proceeds can be returned to their country of origin.

b) Eliminates many of the former documents required to act as a permanent business person.

c) Repeal of a constitutional provision that empowered the Colombian government to confiscate foreign-owned real estate without providing any compensation.

d) Protecting Ownership rights. Private ownership and other rights acquired may not be breached or disavowed by subsequent laws except for public utility or social interest. Expropriation for public utility or for social interest is guaranteed to be conducted through a property process and with adequate indemnification.

e) Stability. Profit remittance and investment reimbursement conditions in force on the date which the investments are registered may not be modified in the future in any way that may be detrimental to the investor.


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