Colombia Bank Account

Our most popular service includes opening a bank or investing account with assistance on up to 3 international wire transfers, and registration of these transfers with the federal bank of Colombia, (Banco de Republica de Colombia). Opening a bank account in Colombia is similar to apply for a loan. The banks and federal government require a very detailed history and explanation of where your money is coming from and what it will be used for in Colombia. 

For setting up an investment or traditional banking account with legalization of wire transfers we charge 400 USD (1,200,000 PESOS). The legalization and process to wiring the money to Colombia is equally as important to the work it takes to open the account. Wire transfers filled incorrectly result in fines up to 100% the value of the wire transfer. 

Colombia Legal & Accounting has a team of dedicated Colombian accountants and lawyers in Medellín, Colombia, and is designed to explain how the Colombian banking system works for those who live and do business here. We aim to demystify some of the complexities that exist in the world of Colombian banking. 

Visas by James Visa-Problems

Setting up a bank account in Colombia is probably one of the most difficult and frustrating tasks a foreigner will undertake during his or her mission to get a visa and live, work, and/or invest in Colombia. When it comes to your finances in this country, there are many aspects that are all related to one to another, and you’ll find it hard to deal with one without some of the others. For example, most of us won’t open a bank accounti in Colombia without also completing a wire transfer (which will introduce you to some of Colombia’s regulatory agencies), and opening most types of accounts is impossible, anyway, without a Colombian visa.

Related Topics of Interest for You:

How to Buy Real Estate in Colombia


Opening Bank Accounts in Colombia

There are three main types of bank accounts in Colombia that are of interest to a foreigner. Each has its own requirements. We can help you determine which type of account is best suited to your needs according to which visa you have (or which you intend to apply for).  


Wire Transfers to Colombia

Wire transfers are heavily regulated in Colombia. Each transfer requires proper documentation, and the funds must be used for the intended purpose. Failing to follow each step correctly and honestly could result in investigation, fines, or denial of the transfer.  The transferred money is often investigated even years after the fact, to make sure it went where it was supposed to. It sounds like a hassle, but most foreigners in Colombia will have to wire money at some point to open a Colombian bank accountpurchase property, or invest in a Colombian company.


Investment Legalizations

Legalizing investments in Colombia is an important part of the investing process. Whether you’re buying real estate in Colombia or investing in existing Colombian companies or even the Colombian stock market to then apply for an Colombian investor’s visa, you need to take care that your investment was legalized correctly. 


Credit and Loans

It’s important to establish credit in Colombia if you intend to apply for a loan someday. Both loan and credit card applications can be tricky, but we can prepare the financial documents you will need and assist with the applications. Our Colombian accountants and attorneys are experts in this area. 

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Please let us know how we can help you!

If you give us your name and email we can send you more detailed information in English & Spanish if needed.

You can also send us email to: or call +1-305-767-2766, +57-313-390-7109, +57-301-337-1881, +57-604-444-6634 (landline).

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