Key takeaways
- The withholding, up to 15% of the gross price under the pagos-al-exterior regime, is not your final tax bill; it is a prepayment credited against whatever you actually owe once you file.
- Exact withholding mechanics can depend on the specific transaction structure and whether a DTA applies.
- For example, on a roughly US$160,000 (COP 500 million) sale, a resident seller sees roughly US$1,600 (COP 5 million) withheld (1%).
- Because the withholding is calculated on the gross sale price while the actual tax applies only to the net gain, non-residents frequently have significantly more withheld than they ultimately owe, especially if their cost basis (adjusted for Colombia's annual reajuste fiscal inflation index) is high relative to the sale price.
- If Colombia has a Double Taxation Agreement with your country of tax residence, that treaty may modify the applicable withholding rate or provide a mechanism to avoid being taxed twice on the same gain, once in Colombia and again in your home country.
As a non-resident selling Colombian property, you pay ganancia ocasional (capital gains tax) of 15% on the net gain after two years or more of ownership, under Ley 2277 de 2022, the same rate residents pay. The buyer may withhold up to 15% of the gross price at closing as a recoverable prepayment.
The two separate numbers non-residents need to understand
Selling as a non-resident involves two distinct figures that are easy to confuse: the withholding taken at closing, and the actual tax owed once your net gain is calculated. The withholding, up to 15% of the gross price under the pagos-al-exterior regime, is not your final tax bill; it is a prepayment credited against whatever you actually owe once you file. Your real liability is the 15% ganancia ocasional rate applied only to your net gain (sale price minus adjusted cost basis minus deductible selling expenses), not to the full sale price.
Residents versus non-residents at a glance
| Aspect | Resident seller | Non-resident seller |
|---|---|---|
| Withholding at closing | 1% of gross sale price via the notaría | Up to 15% of gross sale price; buyer may act as withholding agent |
| Capital gains rate (2+ years held) | 15% of net gain | 15% of net gain, same rate under Ley 2277 de 2022 |
| Held under 2 years | Ordinary income tax rates | Ordinary income tax rates, potentially up to 35% |
| Double Taxation Agreement (DTA) | Rarely relevant | Can modify the applicable withholding or rate if one exists with your country of residence |
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Exact withholding mechanics can depend on the specific transaction structure and whether a DTA applies. Confirm current requirements with a Colombian accountant familiar with non-resident transactions before closing.
How the withholding is actually calculated
For example, on a roughly US$160,000 (COP 500 million) sale, a resident seller sees roughly US$1,600 (COP 5 million) withheld (1%). A non-resident seller, under the pagos-al-exterior regime, could see up to about US$24,000 (COP 75 million) withheld (15% of gross), though the actual amount withheld depends on the specifics of the transaction. That withheld amount is not lost; it is credited against your actual tax liability when you file, and any excess is refundable.
Why the withholding often exceeds the actual tax owed
Because the withholding is calculated on the gross sale price while the actual tax applies only to the net gain, non-residents frequently have significantly more withheld than they ultimately owe, especially if their cost basis (adjusted for Colombia's annual reajuste fiscal inflation index) is high relative to the sale price. This makes filing a Colombian tax return, even as a non-resident, an important step to recover any overwithheld amount rather than simply accepting the withholding as a final cost.
How a Double Taxation Agreement can change this
If Colombia has a Double Taxation Agreement with your country of tax residence, that treaty may modify the applicable withholding rate or provide a mechanism to avoid being taxed twice on the same gain, once in Colombia and again in your home country. Whether a DTA applies, and exactly how it changes your situation, depends entirely on your specific country and should be confirmed with a tax advisor familiar with both jurisdictions before you close.
Filing your Colombian tax return as a non-resident
Even without an ongoing presence in Colombia, you generally need to file a Colombian tax return for the year of sale to reconcile the withholding against your actual liability and claim any refund owed. A Colombian accountant experienced with non-resident filings can guide you through this process, which typically requires a RUT (tax ID) if you do not already have one.
How this connects to selling and repatriating funds
Handling the tax side is only part of selling from abroad. If you also need a power of attorney to close without traveling, see the guide on selling Colombian property from abroad with a poder notarial (in Spanish). And once your tax obligations are settled, repatriating the net proceeds is its own step, covered in the guide on bringing money into Colombia and, by the same registration principle, sending it back out.
Common mistakes non-resident sellers make
The first mistake is assuming the withholding is the final tax bill rather than a recoverable prepayment, and not filing to claim a refund of any excess. The second is not checking whether a Double Taxation Agreement applies before closing, potentially missing an opportunity to reduce the effective tax burden. The third is not properly documenting the cost basis, especially the annual reajuste fiscal adjustment, which can significantly reduce the taxable gain. The fourth is not obtaining a RUT early enough, delaying the filing process after the sale.
Sample scenario across two holding periods
| Scenario | Holding period | Tax treatment |
|---|---|---|
| Property held 3 years, sold for about US$160,000 (COP 500 million) | 2+ years | 15% ganancia ocasional on net gain (sale price minus adjusted cost basis and deductible expenses) |
| Property held 8 months, sold for about US$160,000 (COP 500 million) | Under 2 years | Ordinary income tax rates apply to the gain, potentially up to 35% for non-residents depending on circumstances |
These figures are illustrative only. Your actual liability depends on your specific cost basis, deductible expenses, and any applicable tax treaty; a Colombian accountant should calculate your exact numbers.
How we knowFigures as of October 13, 2026. Prices: active listings we verified ourselves; USD rate: TRM 3,181.74 COP per US$1, valid October 14, 2026 (Banco de la República, via datos.gov.co).
Frequently asked questions
Do non-residents pay the same capital gains rate as residents?
Yes, 15% on the net gain if held two years or more, under Ley 2277 de 2022. The difference is mainly in how much gets withheld at closing, not the final tax rate.
Is the withholding at closing my final tax bill?
No. It is a recoverable prepayment. Your actual liability is calculated on your net gain when you file, and any excess withheld is refundable.
What if I sell before owning the property for two years?
The gain is taxed as ordinary income at standard rates rather than the 15% capital gains rate, which can mean a significantly higher tax burden.
Next step
Before closing a sale as a non-resident, consult a Colombian accountant to estimate your actual net gain and confirm whether a tax treaty applies. Get in touch through Guatapé Properties for guidance on the local selling process.
USD figures are approximate, converted at the official TRM of COP 3,127.51 per US dollar (August 14, 2026).
Who wrote this
Real estate broker · writes for the network · Real estate broker, Guatapé and eastern Antioquia. Specializing in Guatapé and El Peñol, Antioquia, Colombia. Founder of Mike Zapata Real Estate and the guide behind the Guatapé Properties and Guatapé Finca Raíz portals.