My husband and I run a successful advertising agency, serving to local and international clients based in Puerto Rico. Due to the critical political climate in the US (PR is a dollar based colony of the US), it's mounting debt plus the crisis in PR (that just declared bankruptcy) we a have growing sense or urgency to relocate as soon as possible. Medellín, Colombia is one of the destinations on our radar. We have done a ton of research and as a matter of fact just returned from a 3 day conference to speed our relocation. However, I am curious as to the tax system for expats in Colombia. You can only live there six months of the year or all of your income, even the one not generated in Colombia, is taxable. How do you guys deal with this issue?
I didn't find the right solution from the internet.
