Taxes and bank account

khobbs40

Member

Member since 24 June 2023

khobbs40

13 July 2023 03:36:56

khobbs40

13 July 2023 03:36:56

I'm a disabled veteran a make over $70k USD a year in disability income which is non taxable in the United States. I'm moving to Cali in September. Do I have to pay taxes to Colombia on this income? Also, as far as opening a Colombian bank account, I was told I must do that in order to rent or buy property in Colombia. If I do and start having my disability pay deposited in it am I asking for trouble? Should I switch to an American bank that has branches in Colombia like Citibank or HSBC? If I can should I just keep my current American bank and try to fly under the radar and keep a low profile or am I just asking for trouble and steep penalties if caught?

cccmedia

Ecuador / Colombia Expert

Member since 14 March 2014

Quito, Pichincha

cccmedia

13 July 2023 03:55:59

10203

cccmedia

13 July 2023 03:55:59

10203

Quito, Pichincha

@khobbs...

Although your questions are financial in nature,

KHobbs, they are off-topic to this thread. So don't

be surprised if the Home Office moves the post

or directs you to start a new thread with a fresh

title. Another possibility is to post such questions

at the Colombia Mailbox thread.

I am not going to weigh in on your disability income.

I don't know what your liability would be to La DIAN.

I will address your question about a supposed

requirement to open a Colombian bank account

to rent or buy a home. Look for my response at

Colombia Mailbag.

cccmedia

member, expat.com experts team

Bhavna

Team

Member since 01 June 2015

Quatre Bornes, Plaines Wilhems

Bhavna

13 July 2023 04:41:48

37099

Bhavna

13 July 2023 04:41:48

37099

Quatre Bornes, Plaines Wilhems

Hello everyone,

@ Knobbs40,

Please note that I have created a new thread from your post on the Colombia forum as the initial thread where you posted is not fitting.

We recommend members to open new threads on the Colombia forum should they have precise questions such as these ones so that members can easily share some feedback with them.

All the best

Bhavna