Living The Dream In Medellín, Colombia
As the saying goes, "Time flies when you’re having fun..." I couldn’t agree more. It’s hard to believe… but it’s...
Read more
FREE REPORT: BEST PLACES TO RETIRE
- Countries
Top Destinations:
Whether you’re looking for fun and sun, a peaceful retirement, or the chance to earn some extra income, you’ve got a real world of opportunity open to you… In short, we’ve done our best to narrow down your best options, but only you can decide the right country for you.Best For:
- Store
Unlock The World
Overseas Havens Reports
Conference Kits
Lahardan Books
Your passport to a life well-lived abroadSubscriptions
Our Customer Service team is here to assist with any questions or concerns CustomerService@LiveandInvestOverseas.com
- Countries
Top Destinations:
Whether you’re looking for fun and sun, a peaceful retirement, or the chance to earn some extra income, you’ve got a real world of opportunity open to you… In short, we’ve done our best to narrow down your best options, but only you can decide the right country for you.Best For:
- Store
Unlock The World
Overseas Havens Reports
Conference Kits
Lahardan Books
Your passport to a life well-lived abroadSubscriptions
Our Customer Service team is here to assist with any questions or concerns CustomerService@LiveandInvestOverseas.com
Colombia Facts and Figures
Colombia Facts and Figures
Alamy/3D generator
Colombiais located in South America. This culture-rich country has a coastline on the Pacific Ocean and Caribbean Sea.
Bordered by Panama, Ecuador, Chile, Brazil, and Venezuela, Colombia is an integral part of the South American continent.
The total land area of Colombia is 401,044 square miles (1,038,699 square kilometers). Colombia is renowned for its beaches, natural landscapes, outdoor activities, and vibrant society.
Home to the second largest population in South America, surpassed only by Brazil, Colombia’s free market economy continues to draw investment attention the world over.
Start Your New Life Today, Overseas
A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we'll send you a FREE report on the 10 Best Places To Retire In Style Overseas In
| Information Type | Colombia Data |
|---|---|
| Population | 50,882,89 (2020 est.) |
| Gross Domestic Product PPP (GDP) | US$375.00 Billion (2020 est.) |
| GDP Per Capita | US$7,800 (2020 est.) |
| Inflation Rate | 3.52% (2020 est.) |
| Currency | Colombian Peso |
| Exchange Rate Versus U.S. Dollar | 3563,00 pesos per U.S. dollar (June, 2020) |
| Language | Spanish (official) |
| Capital | Bogota |
| Population of Capital City | 10.77 million (metropolitan area) |
| Time Zone | UTC/GMT – 5 hours |
| Seasons | There are alternating dry and wet seasons corresponding to summer and winter, respectively. |
| International Dialing Code | 57 |
| Electricity | 110-120 V – 220-240V appliances: Plug adapter + step-up transformer |
| System of Government | Republic. Executive branch dominates government structure. |
| Current Leader | President Iván Duque Márquez (since Aug. 2018) |
| Property Tax | The rates of the unified property tax on the aggregate value of the land and buildings range between 0.5% and 1.4%. |
| Capital Gains Tax | 0% to 10% |
| Inheritance Tax | Inheritance/ estate tax – Gifts are treated as capital gains and subject to tax as ordinary income. |
| Rental Income Tax | Income from leasing real property is considered as ordinary income and taxed at 33%. Rental income is subject to 3.5% withholding tax, which is considered as advance tax payment. |
| Sales Tax | 16% |
| Restrictions on Foreign Ownership of Property | None |
| Local Chamber of Commerce | www.ccb.org.co/ |
| American Chamber of Commerce | http://www.amchamcolombia.com.co/ |
| Primary Exports | Petroleum, coffee, emeralds, coal, nickel, emeralds, apparel, bananas. |
| Residency and Visa Requirements | The process for residency is fairly simple and straightforward, with low income and investment requirements. |
| Special Benefits for Foreign Residents or Retirees | A retirement visa, requires you to be receiving retirement benefits from the U.S. |
| National Airline | www.avianca.com |
More Resources From Colombia
PLACES
ECONOMY
OTHER RESOURCES
Popular Articles
Santa Marta: A Hidden Gem On Colombia’s Caribbean Coast
Best Caribbean Seaside City You’ve Never Heard Of Cartagena continues to boost its profile as a prime travel and investment...
Read more
Comparing Panama And Colombia: Living, Retiring, Investing
How does up-and-comer Medellín, Colombia, rate versus long-standing number-one retire-overseas choice Panama City? Here's how I'd lay this out... Panama...
Read moreColombia Articles
What You Need To Know About Gun Laws In Central And South America
Gun laws vary in every country. It is important to understand that gun ownership is a privilege, not a right. Gun laws are strictly enforced, and draconian measures apply for anyone found with an unlicensed gun or ammunition. You can apply for a gun permit as a legal resident in Panama, Belize, Nicaragua, and Ecuador. You’ll be limited in each case as to the number of guns you can own and also restricted as to the types of weapons you can keep, but...
Read more
Sign up for FREE and learn how to live the good life on a modest budget, find bargain property, and more. Plus, check out our free report on the 10 BEST PLACES TO RETIRE.
RETIRE OVERSEAS AND LIVE LIKE ROYALTY
