“Kathleen, I would like thank you for the very useful information I am receiving from you.
“If I decided to move to Medellin and retire in that city, I would like to buy an apartment, let’s say in El Poblado. How do I transfer the money to finance or pay for the place when you are telling us that opening a bank account is almost impossible in that city?
“Thanks and regards.”
–Edgar T., United States
Yes, it’s tough to impossible to open a bank account as a nonresident foreigner in Colombia; however, it’s easy enough to open an account at a fiduciary (a brokerage company). This can be your best option. You could also use your attorney’s client or escrow account to facilitate the transfer of funds.
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