Transferring funds or send money to Colombia
We will guide you through the steps of transferring money or send money to Colombia, a fundamental part of the property purchase process.
The process of transferring funds or send money to Colombia consists of the following steps:
A. Transferring funds to the broker:
This step consists of transferring funds in USD/EUR/Other, by Wire Transfer from the 01. Personal bank account in the country of origin.
(Example: Wells Fargo USA) to the 02. Broker’s corporate account (Example: CitiBank USA) in the country of origin.
Time: 1 day maximum.
Cost: *Free o *10-30 USD (*Local costs).
B. Monetization of money in Colombia:
Once the receipt of the money in USD/EUR/Others is confirmed in the broker’s corporate bank account, the broker procede to negotiate the currencies at the best convertion rate (TRM) an sends an email confirming such negotiation, and being confirmed by the client/ user proceeds to the legalization of the money before the Bank of the Republic of Colombia with the F4 or F5 forms and the documents that justify such investment.
Time: 1 day maximum.
Costs: (TRM day – (0.6%-0.8%) pesos COP).
Example:
TRM dar: 3.950 COP
TRM broker: 3.926,3 COP
23,7 COP per Dollar.
C. Money in Colombia:
Once the money is legalized in Colombia, the money is deposited in COP pesos in the 03. Broker (Personal) bank account, and the Client/User will have his money available to carry out the different operations in Colombia such as:
Transferring funds to the local banks in Colombia
Cashier's checks
Requirements:
Requirements:
- Passport copy.
- Bank statements from the country of origin (maximum 3 months).
- Tax statements of the country of origin.
- Passport copy.
- Bank statements from the country of origin (maximum 3 months).
- Tax statements of the country of origin.
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