Colombia Facts and Figures

Colombia is 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.

Facts About Colombia

Population	46,245,297 (July 2014 est.)
Gross Domestic Product PPP (GDP)	US$526.5 billion (2013 est.)
GDP Per Capita	US$11,100 (2013 est.)
Inflation Rate	2.2% (2013 est.)
Currency	Colombian Peso
Exchange Rate Versus U.S. Dollar	2,382 pesos per U.S. dollar (Feb. 10, 2015)
Language	Spanish (official)
Capital	Bogota
Population of Capital City	13.7 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 Juan Manuel Santos Calderon (since Aug. 7, 2010)
Income Tax Rate for Residents	0% to 33% based on a system of graduated marginal tax rates.
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.
Transfer Tax	0%
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