Personal accounts: Colombia

Updated 6 October 2026

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A personal account at a Colombian bank is needed by people moving to Colombia, buying property there or earning income in the country. Banks are supervised by the Financial Superintendency of Colombia, and foreign exchange is regulated by the Central Bank of Colombia. The key document for a foreigner is the foreigner identity card, issued after obtaining a visa and registering with the migration authority. Without it most banks open only a limited account or refuse.

What a personal account needs

• A foreigner identity card or, for a non-resident, a passport with a visa at some banks;
• a tax number if you earn income in Colombia or buy property;
• proof of address and a local phone number;
• proof of income and source of funds: statements, contracts, certificates.

Currency and transfers

Personal accounts in Colombia are held in pesos. Money from abroad arrives through the official foreign exchange market, and for large amounts the bank asks the payment's purpose. If you buy property or invest, the transfer is made as a foreign investment registered with the Central Bank, which is needed for the investor visa and for lawful repatriation. See property in Colombia.

How the account is opened

1. Status. We check your visa and foreigner identity card.
2. Bank. We choose a bank that works with foreigners.
3. Documents. We prepare address, tax number and proof of income.
4. Visit. We support the branch visit.
5. Account and card. You receive the account, a card and online banking.

Taxes for residents

A foreigner who spends more than 183 days in Colombia within 365 days becomes tax resident and pays income tax on worldwide income. So when relocating we review income and accounts in other countries in advance, and the bank asks about tax residence and source of funds when opening the account.

Timing

An account is usually opened in one branch visit if documents are ready: foreigner identity card, address, tax number and proof of income. The visa and identity card take longest, so we plan the account within the overall relocation schedule.

What to prepare before moving

Foreign documents for a Colombian bank and the migration authority are apostilled in the issuing country and translated into Spanish by an official translator. Ask your bank in advance for several months of statements and a reference letter, and gather documents on income or asset sales: the bank will match them to the first large deposits.

Why applications are refused

• no foreigner identity card or suitable visa;
• the origin of money is unproven;
• links to sanctioned countries;
• operations that do not match the stated purpose.

Personal account and business

If you plan to work in Colombia through your own company, personal and company accounts are opened separately: the company needs its own tax number and registration, and the bank checks its activity separately. See company account in Colombia.

Cards and payments

A Colombian personal account comes with a debit card and online banking for rent, utilities and domestic transfers. For incoming international payments the bank asks the purpose, so regular transfers to yourself are best described to the bank in advance.

What we do

We help with the visa and foreigner identity card, choose a bank, prepare documents and handle the account opening. A manager will calculate the cost in the chat.

What we do

• Personal account - opening assistance

See also

Company formation · Business account · Investment property · Country taxes · All country programs

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