PURCHASING A SECOND HOUSE IN COLOMBIA

Colombia has a great potential to become one of the favorite destination for retired and financial foreigners by purchasing a second house. A bill seeks to develop this market.

Colombian Government decided to boost second house market, attending private sector’s interests. The objective is to attract retired and financial foreigners and the Colombians who have established their lives abroad, in order that they purchase a house in Colombia to live seasonally, spend vacations, or even to settle permanently in our country.

Through a bill, to be submitted to the Congress in the coming days, and some changes on foreign investment regime, the government plans to grant tax exemptions to investors, developers, and buyers of great housing projects to be built in free zones destined exclusively to this kind of initiatives.

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