Armenia, Quindío
Procedure 1. Obtain ownership history and no-lien certificate Time: 1 day
Cost: COP$11,840
Comments: This certificate (Certificado de Libertad y Tradición) provides the legal
information on the property and on its current and previous ownership. The rate is set according to Decrees 1250 of 1970 and 2280 of 2008, the latter modified by Resolution 0035 of 2009. Any individual or legal entity can request this certificate at the Registry Office.
Procedure 2. Obtain the certificate of legal existence and representation of the buyer and the seller of the property from the Chamber of Commerce
Time: 1 day Cost: COP$3,500
LIST OF PROCE%63&4t DEALING WITH CONSTRUCTION PERMITS
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Comments: When the parties are limited liability companies, a certificate of legal ex-istence and representation must be requested from the Chamber of Commerce. This document certifies the existence of the legal entity, indicates its legal representative and provides information on its registered address, its partners, its capital and the date of establishment. The rate is set according to Decree 393 of 2002.
Procedure 3. Review of the property titles by an attorney Time: 4 days
Cost: COP$500,000
Comments: An attorney reviews the previous property titles and the background of
the owner to verify that there are no legal constraints to the transaction. This legal review is not mandatory, but is usually done for this type of transactions. The attor- ney must receive the certificates mentioned in procedures 1 and 2, as well as a copy of the company statutes that authorize the representative to act on its behalf. Procedure 4. Pay pro-development stamp duty required to obtain the certificate of no outstanding property tax payments and no outstanding contribution obligations on property value increases due to public works
Time: 1 day Cost: COP$3,000
Comments: Two pro-development stamps are purchased for COP$1,500 each at the
Treasury of the Government of Quindío. This is a pre-requisite for obtaining the cer- tificates of no outstanding property tax payments and no outstanding contribution obligations on property value increases due to public works.
Procedure 5. Obtain certificate of no outstanding property tax payments and no outstanding contribution obligations on property value increases due to public works
Time: 1 day
Cost: COP$20,600 [COP$8,300 for each certificate + COP$1,500 for each pro-hospital
stamp + COP$500 for each pro-senior citizen stamp].
Comments: This procedure takes place at the Municipal Treasury Office. The Pro-
Hospital and Pro-Senior citizen stamps are purchased for COP$1,500 and COP$500, respectively, at the same counter where the certificates of no outstanding property tax payments and no outstanding contribution obligations on property value increases due to public works are obtained.
Procedure 6. The notary public prepares the public deed Time: 1 day
Cost: COP$1,675,185 [COP$13,880 + 0.27%*(value of the property - COP$118,680)
for notary fees + COP$9,750 for the public deed + COP$29,250 for copies of the public deed + COP$3,465 for the Superintendence of Notaries + COP$3,465 for the National Notary Fund + 16% VAT].
Comments: The notary public prepares the public deed based on all the documents
submitted by the parties. The notary public is required by law to prepare the public deed. The total cost of the procedure is calculated according to Resolution 9500 of December of 2008. The cost per page of the public deed is COP$1,950 plus VAT. It is assumed that the public deed is 5 pages long.
Procedure 7. Pay registration tax and pro-development stamp duty
Time: 1 day
Cost: COP$6,153,935 (1% of the price of the property for the registration tax and
0.2% of the price of the property for the pro-development stamp duty).
Comments: The registration tax applies to the registration of documentary legal
acts, contracts or deals in which private-sector parties are part or beneficiaries and which must be registered by law at the Registry Office. Both payments are made at the same time at the same counter at the Government of Quindío.
Procedure 8. Pay pro-hospital stamp duty Time: 1 day
Cost: COP$2,564,140 (0.5% of the property value).
Comments: Calculation and payment of the pro-hospital stamp duty is done at the Hospital Universitario del Quindío San Juan de Dios.
Procedure 9. Payment of registration fee Time: 1 day
Cost: COP$2,564,140 (0.5% of the property value).
Comments: Payment of the registration fee legalizes the transaction before the
Registry Office. This payment is made at a commercial bank, which has an agreement with the Registry Office.
Procedure 10. Registration of public deed with the Registry Office Time: 6 days
Cost: No cost
Comments: Once the registration tax, the pro-development and pro-hospital stamp
duties and the registration tax are paid, the document is registered at the Registry Office (Oficina de Registro de Instrumentos Públicos).
* This procedure is simultaneous with a previous procedure.
REGISTERING PROPERTY
Barranquilla, Atlántico
Procedure 1. Obtain ownership history and no-lien certificate Time: 1 day
Cost: COP$11,840
Comments: This certificate (Certificado de Libertad y Tradición) provides the legal
information on the property and on its current and previous ownership. The rate is set according to Decrees 1250 of 1970 and 2280 of 2008, the latter modified by Resolution 0035 of 2009. Any individual or legal entity can request this certificate at the Registry Office.
Procedure 2. Obtain the Certificate of legal existence and representation of the buyer and the seller of the property from the Chamber of Commerce
Time: 1 day Cost: COP$3,500
Comments: When the parties are limited liability companies, a Certificate of exis-
tence and legal Representation must be requested from the Chamber of Commerce. This document certifies the existence of the legal entity indicates its legal represen- tative and provides information on its registered address, its partners, its capital and the date of establishment. The rate is set according to Decree 393 of 2002. Procedure 3. Review of the property titles by an attorney Time: 3 days
Cost: COP$994,000
Comments: An attorney reviews the previous property titles and the background of
the owner to verify that there are no legal constraints to the transaction. This legal review is not mandatory, but is usually done for this type of transactions. The attor- ney must receive the certificates mentioned in procedures 1 and 2, as well as a copy of the company statutes that authorize the representative to act on its behalf.
Procedure 4. Obtain certificate of no outstanding contribution obligation on property value increases due to public works Time: 1 day
Cost: No cost
Comments: This certificate is proof that the property has no pending balances on
payments of property valuation contributions. The certificate is only issued if the total contribution amount has been paid at a bank. The certificate is issued at the offices of Empresa de Desarrollo Urbano de Barranquilla y la Región Caribe (EDUBAR S.A.), and at no cost, according to Decree 095 of February 8, 2008.
Procedure 5. Obtain certificate of no outstanding property tax payments
Time: 1 day Cost: No cost
Comments: This certificate is proof that the property has no pending balances on
property tax payments. The notaries have an exclusive login to access the taxpayer’s account statement and print the certificate from the District’s tax information system at the website www.barranquilla.gov.co.
Procedure 6. Obtain pro-hospital stamp duty statement Time: 1 day
Comments: The taxpayer can either get the pro-hospital stamp duty form from the
municipal tax department, or download it from the department’s website. The form should be filled out and submitted to the customer service counter, which will verify the form and calculate the tax. The taxpayer will then receive an official payment statement generated by the tax information system (SITD). Payment should be made at teller window 6 of Banco Davivienda, located at the same premises of the municipal government. The statement is stored in the SITD and may be later verified by the public notary. This procedure is regulated by Resolution (Acuerdo) 010 of 2006 and the District Tax Code.
Procedure 7. Pay pro-hospital stamp duty Time: 1 day
Cost: COP$7,692,419 (1.5% of the property value). Comments: Payment is made at a commercial bank.
Procedure 8. The notary public prepares the public deed Time: 3 days
Cost: COP$1,675,185 [COP$13,880 + 0.27%*(value of the property - COP$118,680)
for notary fees + COP$9,750 for the public deed + COP$29,250 for copies of the public deed + COP$3,465 for the Superintendence of Notaries + COP$3,465 for the National Notary Fund + 16% VAT].
Comments: The notary public prepares the public deed based on all the documents
submitted by the parties. The notary public is required by law to prepare the public deed. The total cost of the procedure is calculated according to Resolution 9500 of December of 2008. The cost per page of the public deed is COP$1,950 plus VAT. It is assumed that the public deed is 5 pages long.
Procedure 9. Obtain statement for department tax (beneficencia) Time: 1 day
Cost: No cost
Comments: This procedure is done at the tax department of the Office of the
Governor.
Procedure 10*. Pay pro-development departmental tax (beneficencia)
Time: 1 day (simultaneously with procedure 10) Cost: COP$2,564,140 (0.5% of the property value).
Comments: It is paid at a teller window of a commercial bank at the Government
of Atlántico. The stamp duty is included in the Departmental Tax Code, Ordinance Decree 000823 of 2003.
Procedure 11. Payment of registration fee and registration tax Time: 1 day
Cost: COP$7,692,419 (1.5% of the property value).
Comments: Payment of registration fee legalizes the transaction before the Registry
Office. The registration tax applies to the registration of acts, contracts or deals in which private-sector parties are part or beneficiaries and which must be registered by law at the Registry Office. The registration tax is regulated by Law 223 of 1995 and Decree 650 of 1996. This procedure is done at a commercial bank, which has an agreement with the Registry Office.
Procedure 12. Registration of public deed with the Registry Office Time: 3 days
Cost: No cost
Comments: Once the registration fee and tax have been paid, the public deed can
be registered at the Registry Office (Oficina de Registro de Instrumentos Públicos). Procedure 13. Inform the cadastre about the change of ownership
Time: 1 day Cost: No cost
Comments: The interested party must go to the cadastre office at Instituto Geográ- fico Agustín Codazzi (IGAC)– to give notice of the change in ownership.
* This procedure is simultaneous with a previous procedure.
REGISTERING PROPERTY