Investment opportunities in Cartagena

Hello Gabriel,

Welcome on board !

Please note that I have created a new thread from your post on the Cartagena forum so that members may share their ideas with you.

do you have any particular interests or investment ideas you want to explore ?

All the best

Bhavna

@Gabriel David77

For investment opportunity you may like to read in Cartagena El Universal Web classified, franchise opportunity "AFILIADO DE FRANQUICIA"

Certificates of Deposit offering over 14 percent.

Some Colombia banks are offering CD's with annual percentage yields of more than 14 percent if held for 360 days, according to rankia.co which follows such offers.

BBVA Colombia APY:  14.82%.

Disclaimers... This poster has not verified whether bank BBVA, which is offering such a rate, has one or more branches in Cartagena. No such offer has been vetted by poster. Terms and conditions apply. Limits on state-backed insurance may apply. Purchase of CDT's in Colombia may or may not require purchaser to hold a currently-valid visa or cédula. This is not an offering or endorsement of any CDT product. CDT stands for certificado de depósito a término.

cccmedia

I have decided not to pursue a CD or CDT

in Colombia and to continue investing in

CD's in Ecuador instead.

Here are some reasons why...

a. I don't live in Colombia and don't have

a regular plan for which months to spend

there.

b. I can get about 9 percent in Ecuador on

CD's compared to apparently 14 percent

in Colombia, so no need to get greedy.

c. I do not like the idea of exposing the

value of my assets to Colombia and La DIAN.

The bureaucracy is opaque and seems to

change a lot. There is a widespread belief

among Expats that Colombian authorities

have the right to tax the worldwide income

of tax-resident Expats regardless of whether

they have any income derived from

Colombian sources.

cccmedia

"There is a widespread belief
among Expats that Colombian authorities
have the right to tax the worldwide income
of tax-resident Expats regardless of whether
they have any income derived from
Colombian sources."

This is the belief of DIAN (Dirección de Impuestos y Aduanas Nacionales) also, and they are the taxing authority in Colombia...

Here it is on this page:

https://www.dian.gov.co/impuestos/perso … entes.aspx

"Las personas naturales, nacionales o extranjeras, residentes en el país y las sucesiones ilíquidas de causantes con residencia en el país en el momento de su muerte, están sujetas al Impuesto Sobre la Renta y Complementarios en lo concerniente a sus rentas y ganancias ocasionales, tanto de fuente nacional como de fuente extranjera, y a su patrimonio poseído dentro y fuera del país."

A rough translation:

Natural persons, nationals or foreigners, resident in the country, and inheritances that cannot be converted to cash originating from those with residence in the country at the moment of their death, are subject to the Tax on Income and Extras in what pertains to their income and occasional income, of national origin the same as foreign origin, and their estate possessed inside and outside the country.

And you are considered a tax resident if you spend more than 183 days total in any 365 day period not necessarily a calendar year in Colombia, for the year in which you exceed the 183 days.