Each day more and more travelers chose to be in Medellin as the perfect place to vacation or the ideal scape from cold and routine.
For those who want the city to become their new home or are looking for the opportunity to do business, there are a couple key things to know.
1. Money: Probably you’ve heard a lot about the costs of living in Medellin, sometimes is the main factor to considerate when moving to another place. In this case, it’s all about the exchange rate which fluctuates between 2, 8 – 3, 0 COP for every American dollar, so when you bring money here the value of your dollars is a lot higher. By purchasing for a place here, you’re paying less taxes, less for the property and less for the costs of living in general.
2. Simplicity of buying when it comes to paperwork: With the help of a lawyer, everything goes through the Notary Public, with them basically controlling all the contractor work including all the realty work. This way you can get a stamp to make it legalized and then put it on file.
3. The realtor takes care of you: Is not like he is going to make you chicken soup if you’re sick – although who knows, maybe you develop a great friendship and he actually might-, but the realtor takes care of the whole process so you don’t even have to deal with people, especially if the language is an issue and can just relax.
There’s an interesting fact about purchasing a house, finca, apartment or a Penthouse in the country: You can get a visa! Ok, first there are two options for this specific subject. One is the Resident (R-Visa) and the second is the Migrant (M-Visa) depending on the money you would like to invest. For the R-Visa you have to invest a bit more money but is valid for 5 years and you can renew it for another 5 years as long as you don’t leave Colombia for more than 2 years. While the M-Visa requires an investment of less than half the money you would need for the R-Visa, is valid for just 3 years and becomes invalid if you leave for more than 6 months.
Of course there are more options and we are going to get deeper into each of them in the next articles, but for now, let’s finish with a couple reasons to move here.
7 Reasons why to invest/buy in Medellin
2. Exchange rate
3. Emerging market
4. The landscaping of the city
5. The whole Latin music and dance scene
6. The acceptance you have here. People are very friendly and they make you feel welcomed
7. Find a healthy and beautiful relationship