Below is a quick nutshell view for those that don't want to watch the Vlog: Land- Yes! As an expat you can own land in Colombia and the process is the same as a native. You must of course have a valid passport and the funds necessary for the purchase. Land ownership can lead to residency as well, depending on the amount spent. Business Ownership - The short answer is yes you can. The long answer is that there is a lengthy process and you will need a lawyer and an accountant.