Colombia is cheap to live in, but its tax rules catch long-stayers out: you become a tax resident after 183 days, and residents are taxed on worldwide income. This page explains the position as of October 2026. It is a general guide, not tax advice.
Colombian Tax Residency#
You are a Colombian tax resident if you spend more than 183 days in Colombia, continuous or not, within any 365-day period. If that period spans two years, you are resident for the second year. Residents are taxed on worldwide income; non-residents only on Colombian-source income.
The digital nomad visa has no tax exemption. Holders who stay more than 183 days become tax residents like anyone else.
Tax Rates and Filing#
Resident income tax is progressive, from 0% to 39%, calculated in tax value units (UVT). Residents may need to file a return (declaración de renta) the following year, and must declare worldwide assets above certain thresholds. Colombia has tax treaties with a limited number of countries, including Spain, Canada, the UK, Mexico and Chile, but not the US, although US citizens can usually claim foreign tax credits. Get advice from a Colombian accountant if you plan to stay more than six months.
What It Costs by Base#
These are ballpark monthly costs for one person living comfortably in a one-bedroom apartment on a monthly lease, eating out most days, with a coworking desk and a social life.
| Base | Lean | Comfortable | Premium |
|---|---|---|---|
| Medellín | $1,200 | $1,800 | $2,800 |
| Bogotá | $1,000 | $1,600 | $2,400 |
| Cartagena | $1,300 | $2,000 | $3,000 |
| Santa Marta | $900 | $1,400 | $2,200 |
| Cali, coffee region | $800 | $1,000 to $1,600 | $2,200+ |
Rough prices: a set lunch (menú del día) COP 15,000 to 25,000, a coffee COP 5,000 to 10,000, a beer COP 5,000 to 12,000, a coworking day pass COP 40,000 to 70,000, and a cross-town app taxi COP 10,000 to 25,000.
Paying for Things#
Cards work in restaurants, supermarkets and malls in cities; small shops, markets and taxis often want cash. Colombians pay each other with Nequi and Daviplata apps and the Bre-B instant payment system, which need a Colombian bank account.
ATMs and Moving Money#
ATM fees for foreign cards are about COP 20,000 to 35,000 per withdrawal, with limits of COP 600,000 to 2 million. Use ATMs inside malls or banks for safety, cover your PIN and decline currency conversion. Wise can send pesos to Colombian accounts.
Opening a Colombian Bank Account#
Opening an account usually needs a cédula de extranjería, which digital nomad visa holders receive. Bancolombia, Davivienda and BBVA are common choices. Tourists usually can’t open accounts.
Taxes and Money FAQs#
Do digital nomads pay tax in Colombia?
If you spend more than 183 days in Colombia in any 365-day period, you become a tax resident, taxed on worldwide income, including on the digital nomad visa.
Does Colombia's digital nomad visa have a tax exemption?
No. Holders who stay more than 183 days become tax residents.
Is Colombia cheap for digital nomads?
Yes. A comfortable month costs about $1,400 to $2,000 in the main bases.
Can foreigners open a bank account in Colombia?
Usually only with a cédula de extranjería, which digital nomad visa holders receive.