Opening hotel in Colombia

Hello all - looking to source some advice and suggestions.


My partner and I are planning to open a small hotel in Colombia, but we are currently still located in Canada. He is Colombian/Canadian and I am Canadian. Firstly, what are your thoughts on the best Visa for me to pursue? Spouse, Investor, Opening a business?


Secondly, we are looking to start working on the business infrastructure now while still living in Canada. We are also wondering about charging in Canadian dollars, how taxes will work etc. Basically wondering what the best course of action is for tax purposes between the 2 countries.


Look forward to hearing your feedback - TIA!

Hello, I am an architect living in Medellín and an expatriate (from Mexico). At this moment we are starting a small 24-room hotel in Medellín in one of the fastest growing points of tourism in Colombia.

I can gladly help you with the project and construction of the hotel and contact you with one of the most important tax advisory companies in Medellín to advise you.

Kind regards

Leonardo

@KBradley


First question


Conyuge visa is easiest- if he alredy has citizenship


Second question


Keep residence in Canada, Canadian address, stay a tax resident of Canada and make sure your major source of income comes from Canada . and then you are PROBABLY covered under the Canadian-Colombian tax agreement and only pay taxes on your Canadian income in Canada. Of course you will have to pay taxes on your business or any other income in Colombia


You dont want to involve your Canadian income in the Colombian tax system, as the tax rates are normally much higher than Canada


Beyond that , I cant tell you anything, other than I sure wouldnt do what you are doing, and you will never find a Colombian Tax ccountant who will understand your situation and give you competent advice-other than your tax obligations inside Colombia on Colombian income.


Good Luck

Bringing dollars over easy. these guys did it for me years ago and there are many others


https://www.alianza.com.co/


Check around aand check charges and exchange rate for best deal

An attorney based in Colombia is essential in

launching such an enterprise, especially an

attorney who has successfully advised new and

existing businesses in Colombia.


cccmedia in Santander

Get to Colombia first.  I suggest if you can get work (even that will not be easy) in the accommodation business and learn the local market.

Feel the vibe before committing to any enterprise. Live in the community

I think after 6 months your ("rose Coloured) idea in Canada might get watered down to practical   and viable decision making in Colombia. In the process you may save yourself from financial disaster and heart ache.


With respect your question about expecting customers to be just paying in Canadian dollars, just indicates how naive you are about practical business processes. 

@geeceegeein 6 months the Canadian dollar  might be worth as much as the Argentinian Peso or Venezuelan Bolívar the way things  are going

@geeceegee


Charging in Canadian dollars?


Bwahhh LMAOF..I missed that part


Sounds like the op has never travelled outside of Canada


You would think her" Colombian"  husband would have enlightened her  on such nonsense.


Maybe he came to Canada when he.was 6 years oldor something.


Lot of naive posters on here and Canucks take the cake. Probably why the country is so screwed up now.

Old men on the internet are my favourite 😂

@KBradley

Truth hurts I guess


You just gave us an idea of your age/ generación which would explain your naivity

@KBradley


Thiis old man has lived and worked in several.different countries and been in Colombia

11 years


Sure I have made a lot of mistakes, and like a fool I keep repeating them, but..at least I am aware of what I am doing and not mon chalant aboutit.


I apoligize if I was too hard on you.


Why dont you take geegees advice and come live here for 6 months before transferring all your life savings over here?


You may save a lot of stress and heartache


Dont know about Colombian men, but I dont trust Colombian women making business decisions with my money.THey are totally clueless when it comes to finances and handling money..at lesst 90% of them



Cant say anything about yoour partner, whether you and him have already run sucsessful businesses in Canada, but even then, Colombia is a different kettle of fish.

Everyone is entitled to his own opinion, and as long as it is expressed in a civil and respectful manner, it is welcome on this forum...


And as long as someone is spending their own money (and not mine), they are free to make their own decisions (and mistakes, or good moves, whatever it may be)...


Colombia is often still the "Wild West" in so many ways, compared to more "civilized" more developed countries.  Thar's gold in them thar hills, but you may risk your life getting it,  and all your profits are likely to be confiscated by the bureaucracy or stolen by your employees, anyway...I speak figuratively and literally...