About olivio

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Some Forum Posts:

Colombia: Property appraisals:

When one buys a property, it is normally in both seller’s and buyer’s interest to declare in the contract a price that is well below the price actually actually paid for the property, because this means less taxes. However, there are two important considerations: 1) If you officially bring into the country a much larger sum than the one declared in the contract, then the authorities may question you and problems could arise. Alternatively, you may agree to pay the seller the difference between real and official price directly into the seller’s account abroad - if both accounts are in countries that will not inform Colombia of your transactions - or in cash (US$/€). 2) If you want to be able one day to sell the property and repatriate your money (Colombia’s economy is flourishin, but nothing is certain in Latina America: ref: Venezuela, Ecuador, Brazil, Argentina), then you will have to pay taxes on any difference between the price stated in the contract and the price at which you will resell the property. You will have to pay capital gains tax on any diference. If the difference is substantial, you will obviously have to pay much higher taxes and possibly have to make some explanations to the authorities …. Unless, of ocurse, you sell to someone who can pays you part of the price directly into your accountt outside of Colombia, or in US$/€. I agree that intermediaries in Colombia are pretty useless and their role is basically to make phone calls to arrange meetings. They know nothing about the property they will show you. They charge foreigners with “gringo tax”. I was shown in Medellin the same apartament by three different estate agents and asked three different prices, with differences up to 40.000 US$. Some agents will only show you 2-3 apartments and if you do not buy what they show you they will either drop you or ask you to pay hourly fees for their services, which is totally unheard of and is only done with foreign clients. Some of them are real crooks. So beware.

Colombia: Tp 10 spousal visa:

@timllowe. Exellent news you gave us. Wish you and your partner lot of happiness in Colombia.

Colombia: Manana Time in Colombia: How it Works:

One of the difficulties I faced in Medellin, as an Italian used to excellent and varied Italian food, and a good cook myself, was obviously local food. Local meat is at best medium quality. Embutidos (salami) are best avoided for high risk of food contamination. Salamis imported from Spain are extremely expensive and of the lowest possible quality and brands. Cheese quality and variety is a farse: basically the same cheese with different (Italian) names, none bearing ANY similarity with the real ones, even the ones made in the country by food processors of Italian origin (e.g.: “queso pera”). Admittedly, there is a wide selection of tasty and cheap tropical fruits which I most enjoyed. I remember the fruit milk shakes made at home …. Vegetable too are widely available and cheap, though I doubt that European customers would buy/eat them if they were sold in European shops, because of their rather poor quality and look. Actually, if you properly clean up your vegetables you are likely to pays almost as high as vegetables sold in European markets. I thought of starting a business of bringing into Medellin selected high quality Italian food products from Italy (cheese, salami, olive oil) but was advised by all and sundries against it. Key reasons: 1) Paisas basically like the same food they have been eating for years and resist change. 2) Paisas can not food quality. Many restaurant owners told me that Paisas (and Colombians in general) judge food by its price: if your meali s expensive, then it is good. 3) Food imports are controlled by local mafias, headed by interests related to the large distribution networks (Carrulla, etc.), who can afford bribing politicians and admininstrators to maintain their control of internal markets. Hence the high risk of your food-filled container being kept for days under the sun at the airport .... so good bye to your food, and to your funds too. 4) Various peoplehad tried this business before, and they all had gone bust.

Colombia: Notary for Power of Attorney:

@ cafetero. You should be able to sign a power of attorney at your country's consulate. Contact them and enquire. I did this when I was living in Algeria.

Colombia: Why some are coming, while others are going:

I agree fully with all those who have posted message drwing attention to some of the negative, and potentially highly risky, aspects of living in Colombia, and in Medellin in particular. I personally had to leave Medellin because of death threats just hours before signing a contract for my apartment in Laureles. Of course, everyone is entitled to one's views and not all experiences are bad. But I too find disconcerting the agressive reactions of those who do not share posted views. This is a forum where people are free to exchange their experiences - provided they do so on a respectful manner and do not get personal. I believe that all those who exchanges personal attacks and insults rather than accepting other people's experiences for what they are, should not be allowed to continue in this forum. The risk being that other contributors would sign out. I hope both negative and positive experiences continue to be posted. So guys, be less childish and a bit more intelligent and respectulf.

Colombia: Moving back to the U.S.?:

Financial intermediaries When When I was in Medellin during the period November 15 – End of January 16, I moved 250.000 US$ into the country, to take advantage of the then most favourable exchange rate (US$1 = 3330 COP). I used the services of a financial company ULTRASURFINCO which charged 10 COP per US$. They did everything and all I had to do was to sign papers, forms, and tell them what rate I wanted my transactions to take place. I had found a most wonderful apartment in Laureles and was preparing to sign the purchase contract. Then I started receiving death threats by locals trying to get money from me. Knowing the highly corrupted police and the cheap costs of sicarios (killers), I decided that Medellin was no longer the place I wanted to spend my reitrement in, and took the first plane out of Colombia. I then asked – from Italy - ULTRASURFINCO to move the money back possibly at an eschange rate that would minimize losses. They credited into my NY account the SAME AMOUNT I had originally transferred. My overall loss: US$ 15 charged by my NY bank for the original transfer into the account of ULTRASERFINCO. On March 8th, 2016, ULTRASERFINCO received a new stipulated regulation, which doesn´t allow them to continue with the following processes until otherwise ordered: - To set up accounts for new foreign clients - To receive new wire transfers until further notice. And are no longer providing such services. Dont knowif things have changed. If anyone is interested, contact: Mr Andres Felipe Cardona Marulanda, financial Gestor de Inversiones Directo: 310-6564 /Conmutador: 444-35-22 ext 6889 Cra 43a 1-50 ed. San Fernando Plaza Torre 1 piso 10 Medellin-Colombia. www.ultraserfinco.com Email: vacardona@ultraserfinco.com The point I am making is: using a honest and reputable financial intermediary is well worth the commission they will earn for their services. Make sure tht you choose an intermediary that is officially endorsed by the competent Colombian authorities and can show to be authorized to undertake the above processes..

Colombia: Extending a 6 month Tourist Stay to a Year: Let the Bureaucratic Discussion Begin:

JasonWriter It is my understanding that the 180 limit covers the previous 12 months. This is what I was told by Colombian inmigration officers. Whether I misunderstood or whether things have changed, I do not know. Better make sure which is the current rule.

Colombia: Rent house or apt:

gringo2u Make sure you avoid using AIrBnB. It is a rip off and you will end up in trouble with Medellin Hosts. Easier to stay in a hotel (can get good deals for 25-50 US$ a night and then search locally. Make sure you inspect the premises before renting and you are clear in writing s to what is inluded and excluded form the rent.

Colombia: Trying to move to Colombia:

If one stays for more than 60 days on a turist visa, one will have to pay taxes when leaving fro airport. This happened to me in January 2016.

Colombia: How Big of a Faux Pas is it for a Man to Wear Shorts in Medellin?:

Talking about sandanls and shoes. Impossible to get any size above 42 (European size). Rarely, you get 43. So, if you need shoes with size larger than 42, bring them from home.

Date Joined:

7/15/2016

Total Posts:

27

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