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[quote=Anonymous][quote=Anonymous][quote=Anonymous]Which country? A friend of mine purchased a house in Colombia a few years ago and everything was going great until a left wing president was elected and hit him with a 20k/yr tax bill (wealth tax). Now he only stays in Colombia 6 months/yr to avoid being a tax resident. He would have been much better off just renting. [/quote] Haha. It is Colombia. I guess he knows about the resident tax because he comes to US every 6 months. I wish he would just continue renting but he's stubborn about buying... [/quote] Foreigners always pay cash when buying in Colombia. Even for Colombian citizens, the terms for residential real estate financing suck big time. His plan doesn't really make much sense, especially considering that his rent is relatively low. I don't know where he is staying, but a nice apartment in the better neighborhoods in Bogotá or MedellĂn will be several hundred more than what he is paying.[/quote]
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