Javier Correa, known as the Tax Terminator, is a tax advisor based in Bogota, Colombia. He breaks down the complexities of the Colombian tax system, highlighting its challenges for foreigners. Listeners will learn about the tax residency implications and how they compare to more favorable regions. Javier urges potential expats to think carefully before making the leap, emphasizing that understanding these tax nuances is crucial for anyone considering the vibrant Colombian lifestyle.
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Javier's Experience in Bogotá
Javier Correa shares his positive experience living in Bogotá, Colombia.
He highlights the city's affordability, great dining, and attractive lifestyle for digital nomads.
insights INSIGHT
Colombian Tax Residency Challenges
Colombia's tax system is less attractive than Panama, Uruguay, or the Dominican Republic.
Tax residence is triggered mainly by spending over 183 days or having citizenship with ties to Colombia.
insights INSIGHT
Strict Tax Residency for Colombians
Colombian tax residents, especially citizens, face strict rules which may deem them taxed despite minimal presence.
Family ties, income source, and residence in tax havens are key factors considered by authorities.
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Colombia is one of the most popular South American destinations for tourists and digital nomads alike. Many of whom, after getting a taste of the lifestyle, might start considering moving to the country for the long term. But before you commit to the move, do you know how this will impact you on a tax level? Fear not, Javier the Tax Terminator is here to teach you everything you need to know about the Colombian Tax system.
Nomad Capitalist helps clients "go where you're treated best." We are the world's most sought-after firm for offshore tax planning, dual citizenship, international diversification, and asset protection. We use legal and ethical strategies and work exclusively with seven- and eight-figure entrepreneurs and investors.
We create and execute holistic, multi-jurisdictional Plans that help clients keep more of their wealth, increase their personal freedom, and protect their families and wealth against threats in their home country.
No other firm offers clients access to more potential options to relocate to, bank in, or become a citizen of. Because we do not focus only on one or a handful of countries, we can offer unbiased advice where others can't.
DISCLAIMER: The information in this episode should not be considered tax, financial, investment, or any kind of professional advice. Only a professional diagnosis of your specific situation can determine which strategies are appropriate for your needs. Nomad Capitalist can and does not provide advice unless/until engaged by you.
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