Legal Advisory for Buying Property in Colombia 2025.

Yes, foreigners can buy property in Colombia without a visa, using only a valid passport. There are no restrictions on foreign ownership. However, expert legal advice is recommended to ensure a secure and fully compliant transaction.

Buying property in Colombia involves several additional expenses beyond the sale price. Here’s a concise breakdown of the main costs to consider:

Main Taxes and Fees:

• Property Tax (Impuesto Predial):
  Payments required for all real estate owners. The amount varies by city, zone, and property value. In Medellín, this tax is paid quarterly or annually.
• Notary and Registration Fees:
  These are paid during the formalization and registration of the property purchase and generally total between 1% and 2% of the property value, distributed as follows:
  • Notary fee: 0.29% of the property value
  • Registration fee: 0.98% of the property value
  • Beneficence tax: 0.6% of the property value (for most cases)
• Capital Gains and Value Appreciation Taxes:
  Buyers may also encounter taxes related to the increase in property value (“plusvalía”), depending on the municipality and the specific circumstances of the transaction.
• (Impuesto de Timbre):
  Since 2022, law #2277 introduced impuesto de timbre for documents that must be elevated to public deed. This is an additional fee on top of notarial expenses depending on the property value

Additional Considerations:

• All these costs are required to ensure the legal transfer and registration of the property in Colombia.
• Accurate calculations depend on the property’s value and location.
• Professional legal support is recommended to manage all associated paperwork, prevent unexpected costs, and ensure compliance with current tax obligations.

Summary:
When buying property in Colombia, factor in not just the purchase price but also property tax, notary and registration fees, beneficence tax, and the impuesto de timbre, all of which are essential to complete the legal process and secure your investment.

You can protect your assets and property in Colombia by designing a legal strategy that fits your personal goals and future plans. The right protection approach will depend on your situation—expert legal guidance ensures your investment aligns with your objectives and is secured over time.

Foreign investors can obtain an investor visa in Colombia by investing at least 350 times the minimum wage (about 498,225,000 COP or $122,000 USD aprox). The investment must be in an individual’s name, not through a company or trust. With legal support, the visa process can be completed in as little as 30 days after closing.

If you plan to purchase a property in Colombia and your funds are currently abroad, you must ensure the funds enter the country properly.

This involves officially registering the investment with the Banco de la República by completing the required foreign exchange forms for international investments. 

Correctly filing these forms guarantees that the origin of your funds is legally documented and prevents issues such as penalties or future complications when repatriating capital or profits.

No, Colombia does not offer Escrow services. Because this system is not in place, it is essential to rely on specialized legal support to oversee your property purchase. Having expert legal guidance ensures that all payments, transaction terms, and resource transfers are properly coordinated and fully protected throughout the buying proces