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Owning property

Buying Property in Colombia from Canada

Colombia Ready · Skystone Properties LLC

Researched from official sources Checked

Educational information, not legal or tax advice. Rules change; confirm with a licensed Colombian lawyer or certified public accountant, and with a licensed tax professional in your country of residence and, where relevant, a licensed lawyer in that country.

A Canadian buying an apartment or house in Colombia follows the same Colombian process as any other foreigner. The Canadian side is different. It has tax on worldwide income, a possible foreign-property report, and a tax treaty that is in force.

What it is

Which Colombian rules stay the same for a Canadian?

Nationality does not change the basic legal steps. The buyer signs a public deed (escritura) before a notary. Registration follows at the property registry office (Oficina de Registro de Instrumentos Públicos). This office is part of the Superintendencia de Notariado y Registro. Some details depend on the buyer's situation. The notary decides which ID to accept: a passport or foreigner ID card (cédula de extranjería). Signing may need an interpreter if the buyer does not know Spanish well enough. Signing from abroad may need a power of attorney (poder). The buyer must also review how to bring in money and register the foreign investment. The steps are in our step-by-step guide to buying as a foreigner.

Banco de la República lists foreign investment in Colombia, and its yields, among the operations that must go through the exchange market. Its own example is a non-resident buying an apartment in Cartagena (Banrep, basic concepts). The page does not name a form number. Ask your bank which exchange declaration applies. Read how to register your foreign investment. A Colombian certified public accountant (contador público) can confirm how Colombia taxes rental income from the property.

Who it applies to

What does Canadian tax law require for a Colombian property?

The CRA says individuals resident in Canada during a tax year are subject to Canadian income tax. This covers worldwide income from all sources (CRA folio). For rental income, the CRA names Form T776. Gross rent goes on line 12599 of the return (CRA, Form T776). Those pages do not mention foreign property. Ask a CPA (Chartered Professional Accountant) or tax lawyer in Canada how they apply to a Colombian rental.

For tax paid to a foreign country on income from outside Canada, the CRA names Form T2209 and line 40500 (CRA, foreign tax credit). That page does not mention rent specifically.

Form T1135 is the foreign-property report. It applies to Canadian residents with specified foreign property costing more than $100,000 at any time during the year (CRA, T1135). Three points from the CRA's questions and answers (CRA T1135 Q&A):

  • The threshold is based on cost amount, not fair market value.
  • Specified foreign property excludes personal-use property. The CRA takes "primarily" to mean more than 50%.
  • The CRA gives an example of a condo rented eight months with a reasonable expectation of profit. The owner keeps it for personal use the other four months. This condo is reportable. The CRA treats it as personal-use property if the owner merely recovers some expenses without a reasonable expectation of profit.

Ask your CPA or tax lawyer how your own use and rental pattern fits. The sources we reviewed do not cover sale gains. Ask about them too.

What do tax authorities exchange about your accounts?

The OECD's activated CRS table was last updated 1 October 2026. It lists Canada and Colombia in both directions as "CRS MCAA activated" (OECD). Colombia is among the jurisdictions undertaking first exchanges in 2017 (OECD commitments). The two tax authorities can therefore exchange financial-account information.

Do you need a visa, and which visa fits an owner?

Cancillería puts Canada on its List A (Lista A). Canadian passport holders may enter without a visa for short stays that generate no pay in Colombia (Cancillería). The page we reviewed does not state the number of days. Confirm it before you travel.

The M investor visa (visa M Inversionista) through real estate requires title solely in the foreigner's name. The minimum value is 350 legal monthly minimum wages (salarios mínimos mensuales legales vigentes, SMLMV). That value applies at the application date. Banco de la República extracts must also record the investment (Cancillería). See visas for property buyers.

Steps

How do you send the money from Canada?

On the Colombian side, funds enter through the exchange market. Ask your bank whether the name on the wire should match the exchange declaration and the deed. Your bank may ask for source-of-funds documents. Ask it what it needs.

FINTRAC's form requires reporting entities to report international electronic transfers of $10,000 or more in a single transaction. The 24-hour rule may also apply (FINTRAC). That obligation belongs to the reporting entity handling the transfer.

Questions for your Colombian lawyer, certified public accountant and Canadian tax professional

The Colombia Owner Kit covers the Colombian side. It includes a calendar, checklists, Spanish letters and a BanRep records pack. Its question lists include questions for your home-country tax professional. Its home-country sheet covers the United States. For Canadian rules, take those questions to a licensed tax professional in Canada. You can also start with the free one-page due-diligence checklist.

  1. Ask: Colombian lawyer or certified public accountant: Which exchange declaration applies? How will my rental income be taxed in Colombia?
  2. Ask: CPA or tax lawyer in Canada: Is my property personal-use property or specified foreign property for Form T1135? How do T776 and T2209 apply, and how does the treaty interact?
  3. Ask: Your bank: What source-of-funds documents do you need for this transfer?

Costs and taxes

Is there an income-tax treaty between Canada and Colombia?

Yes. DIAN lists an income-tax treaty with Canada, in force since 12 June 2012 (Ley 1459 de 2011) (DIAN). Ask a CPA (Chartered Professional Accountant) or tax lawyer in Canada which taxes and which income the treaty covers. Ask them whether the treaty changes the Canadian foreign tax credit described above. See also Colombian income tax on rental income.

Documents

Can you sign from Canada?

Canada's accession to the Apostille Convention took effect on 11 January 2024. Colombia's took effect on 30 January 2001 (HCCH status table). Canada's federal government issues apostilles. The designated provinces also issue them: Alberta, British Columbia, Ontario, Quebec and Saskatchewan (Global Affairs Canada glossary). Which office handles your document depends on who issued it (Global Affairs Canada). For powers of attorney, see buying from abroad with a power of attorney.

Sources

Educational information, not legal or tax advice.

Get the free sample checklist.

Frequently asked questions

Is there a tax treaty between Canada and Colombia?

Yes. DIAN lists an income-tax treaty with Canada, in force since 12 June 2012.

When do I have to file Form T1135 for a property in Colombia?

Canadian residents must report specified foreign property costing more than $100,000 at any time during the year. The threshold uses cost. Personal-use property is excluded.

Is a Colombian condo I rent part of the year reportable?

The CRA gives an example rented eight months with a reasonable expectation of profit. The owner keeps it for personal use for the other four months. This condo is reportable on Form T1135. Without a reasonable expectation of profit, merely recovering some expenses makes it personal-use property under CRA guidance.

Can a Canadian sign documents from Canada?

Canada and Colombia are parties to the Apostille Convention. It took effect for Canada on 11 January 2024. The federal government and Alberta, British Columbia, Ontario, Quebec and Saskatchewan issue apostilles.

Not sure which topics to raise? Take the quiz. The Colombia Owner Kit (US$79, instant download) turns this guide into a checklist, a calendar entry and a question list: see what’s included. Or start with the free sample: Chapter 4, the due-diligence checklist.