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Transferring Money In And Out Of Colombia

“Kathleen, you are right and you have been right before on this. The correct expression is ‘on the lamb.’

“Here’s the history of the expression:

“The term came from 1682 when a group of Quakers were going to be arrested on their flight to America so instead of taking their group along a road they had the ship pick them up in the middle of the night to escape from the Red Coats and The Church of England. The ship’s name was ‘The Lamb.’ This ship was part of William Penn’s flotilla. The group that was on The Lamb was headed by Cutberth Hayhurst, his wife and kids, his brother and wife and kids, and his sister and husband, along with a few others. These folks were my forefathers. There is plenty of info on the ship called The Lamb, their escape, and the Hayhurst’s. Hence the term ‘on The Lamb.’”

–Nick H., United States

***

“Kathleen, we’re looking to Medellín with the potential to purchase while the dollar is strong. Having never done anything like this (I’m only 44), is there any way to convert my U.S. dollars to Colombian pesos and put them in a holding account for a spell?

“We’ll be there in June or July and plan to move after October.”

–Daniel H., United States

Yes, you could open an account with a local fiduciary (we recommend Alianza), wire your dollars down, have them converted to pesos now (you must convert to pesos within a couple days of sending funds), and then place the pesos in an interest-bearing account until you’re ready to invest them.

We’ll address all the particulars of moving money in and out of this country and make personal introductions to fiduciaries, including Alianza, at our upcoming Live and Invest in Colombia Conference, taking place May 11–13 in Medellín.
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