Last Updated August 13, 2019

Law and Practice

Authors



Baker McKenzie S.A.S. has more than 6,000 lawyers and 77 offices worldwide. Led by Rodrigo Castillo Cottin, the firm's wealth management practice is highly renowned for its high level of expertise working with sophisticated clients in complex multi-jurisdictional reorganisation of assets and tax structures for family groups that lead the most important companies in the country. The firm develops global wealth management strategies that account for all of the applicable tax compliance requirements and commercial issues, which is a benefit given to clients that no other law firm in the country can offer. The firm is the only one with the infrastructure and international connection and co-ordination to offer an international coverage.

Residency

It is understood that a foreigner is a resident in Colombia when he or she is the holder of a residence visa. A person acquires tax residence in Colombia if he or she, whether Colombian or foreigner, remains in the country, continuously or discontinuously, for more than 183 calendar days in any period of 365 days. When the discontinuous permanence of more than 183 days occurs between two taxable periods, the individual would be considered a resident as of the second taxable period.

Concerning Colombian nationals, other rules to determine residency will apply (eg, family and location of assets) and must be analysed on a case-by-case basis. 

Citizenship

Latin American or Caribbean citizens by birth may obtain Colombian citizenship provided that they are domiciled in Colombia for a term of one year.

Foreigners who are not Latin American, from the Caribbean or Spanish nationals may obtain Colombian citizenship provided that they are domiciled in Colombia for a term of five years counted from the visa's date of expedition. This term may be reduced to two years if the individual is married to a Colombian national or has Colombian children.

Baker McKenzie S.A.S.

Ave Calle 82
No 10- 62 piso 7
Bogot√°, D.C. 110221
Colombia

+57 1 634 1500

+57 1 376 2211

www.bakermckenzie.com
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Authors



Baker McKenzie S.A.S. has more than 6,000 lawyers and 77 offices worldwide. Led by Rodrigo Castillo Cottin, the firm's wealth management practice is highly renowned for its high level of expertise working with sophisticated clients in complex multi-jurisdictional reorganisation of assets and tax structures for family groups that lead the most important companies in the country. The firm develops global wealth management strategies that account for all of the applicable tax compliance requirements and commercial issues, which is a benefit given to clients that no other law firm in the country can offer. The firm is the only one with the infrastructure and international connection and co-ordination to offer an international coverage.

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