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Minimum Rental Periods
The minimum lease agreement period is typically 1 year, renewable automatically unless written notice is given to cancel. Rent increases each year per the market index.
Required Documents for Signing a Lease
Typical documents required to sign a lease are a valid passport and proof of employment.
Standard Security Deposit
The security deposit is equivalent to 2-6 months’ rent.
Local Norm for Returning the Security Deposit
The security deposit will be returned upon termination of the lease and completion of a walk tthrough inspection. Any damages incured will be deducted from the returned security deposit.
Rental Commission
Should you utilize the services of a real estate agent to help you in your search, agencies usually collect rental commission equal to 20% of one months’ rent + 19% Value-Added Tax.
Payment of Rental Commission
Payment of the agent’s rental commission is typically split between the tenant and landlord. In Bogota specifically, commission is paid by the landlord.
Accepted Method of Payment
Wire transfer and check in local currency are acceptable methods of payment.
School Fees
Typical school fees include:
• Enrollment fee
• Registration fee
• Tuition fee
• Admission fee
• Some schools have a non-refundable entry bonus per child that can be up to 18,000 USD.
Each school will likely have different items that will need to be paid for such as uniforms and materials.
Accepted Method of Payment
Wire transfer and check in local currency are acceptable methods of payment.
Additional Notes
Depending on the school, it may be required for children to take a pre-entrance exam and do an interview.
Residency Requirements
When you moving to Colombia you may want or need to establish residency. Requirements may include:
• Obtain the Columbian ID (Cedula de Extranjeria)
• Register with (SIRE) Immigration Authority
It is advisable to connect with a local expert to identify any additional requirements and support available to assist in meeting the local requirements.
Requirements
Typical documentation required to obtain a driver’s license include:
• Foreign driver’s license
• Colombian ID
• RUNT registration
• Written test
• Driving school course completion
Additional Notes
Following new government regulations, it is necessary to take 20 hours of the theoretical course and 15 hours of the practical course. After the course, you will need to take the exams, at which point the school will issue a certificate. The driving school must be approved by the Transportation Ministry. The Transportation Ministry may also requires medical exams such as vision, hearing and reflexes performed by a doctor’s office/clinic.
Required Documents
In order to open a bank account, you may be asked for:
• Complete application form
• ID card (cedula de Extranjeria) or valid passport
• Copy of work contract
• Certificate submit by the employer / letter from employer – must have address and telephone number of company’s office in Colombia
• Local contact phone number and address
Time Required
Typically, it can take between 1 day and 1 week to for account opening to be complete depending on the bank.