Friday, February 26, 2021

Colombia Conservative Party wants to limit foreign land purchase

Colombia’s Conservative Party proposed a constitutional amendment to limit land purchases made by foreigners to avoid “land grabbing,” reported local media Thursday.

The legislative act was initiated by Senator Hernan Andrade to limit the amount of Colombian private property available for foreign purchase to 15% of the country’s total territory. Andrade said the served to preserve the country’s natural resources and keep foreign investors from “grabbing” all of its land.

- Advertisement -

Foreign Direct Investment has grown more than 500% in Colombia since 2001, a lot of which was caused by the rapidly expanding oil and mining industries in the country.

The reform states that the sum of foreign individuals, legal entities receiving foreign capital, or those acting on their behalf, can only purchase up to 15% of the country’s total land, including land that has already been acquired previously. In addition to the reform, no foreign property will be owned within approximately 165,000 feet of any of the country’s borders, including all mines, forests, water, fuel or energy sources.

Andrade said that he initiated the project to protect the country’s land as a natural resource and food source, because both Colombia’s land and water alike are in a vulnerable position.

The exceptions to the reform include those with a Colombian spouse or those that are descendents of Colombians.

- Advertisement -

Similar projects are already in effect in Brazil, Argentina, and Uruguay.

From Colombia Reports

- Advertisement -

We strive for accuracy in its reports. But if you see something that doesn’t look right, send us an email. The Q reviews and updates its content regularly to ensure it’s accuracy.

"Rico" is the crazy mind behind the Q media websites, a series of onlinemagazines that includes Rico brings his special kind of savvy to online marketing. His websites are engaging, provocative, informative and sometimes off the wall, where you either like or you leave it. The same goes for him, like him or leave him.There is no middle ground. No compromises, only a passion to present reality as he sees it!

Related Articles

Bogotá, Medellín and Cali: the cities with the most violations of measures against covid-19

QCOLOMBIA - Since the mandatory isolation began in Colombia, 1,400,387 finess...

What happens if a Colombian does not attend the scheduled covid-19 vaccination appointment?

QCOLOMBIA - A few days after starting the National Vaccination Plan,...


What happens if a Colombian does not attend the scheduled covid-19 vaccination appointment?

QCOLOMBIA - A few days after starting the National Vaccination Plan, Colombians still have some doubts regarding their immunization process and there is fear...

We do not move even half the passengers we would have on a normal day: Transmilenio manager

QCOLOMBIA - The public transport system in Colombia has been one of the worst-hit sectors since the start of the coronavirus pandemic, as quarantines...

Colombia Suffered Its Deepest Slump Since 1905 Last Year

(Bloomberg) -- Colombia’s economy suffered its deepest contraction in more than a century last year, leaving it wracked by soaring debt, mass unemployment and...

Colombia receives first batch of vaccines

QCOLOMBIA - Colombia advanced the start of the immunization campaign against the coronavirus to February 17, three days ahead of schedule, after receiving the...

There’s A Good Chance Your Valentine’s Flowers Come From Colombia

QCOLOMBIA - If you send a bouquet of roses for Valentine's Day, chances are they were grown in Colombia. It remains the No. 1...

Colombia begins 2021 with a reactivation of 55% in flights

QCOLOMBIA - The end of the year travel season arrived with important expectations of recovery for the tourism sector. The improvement in the tourist...

Pope thanks Colombia for efforts to protect migrants

Q REDAQTED (Vatican News) - “I always look with gratitude at the efforts of those who work for migrants,” Pope Francis said on Sunday...

Colombia okays US$38 billion dollar reactivation plan

QCOLOMBIA - Colombia’s economic and social policy council (Conpes) has greenlighted a 135 trillion Colombian peso (US$38 billion) economic reactivation plan, which will be...

Colombian Clever Leaves made first shipment of medical cannabis to the U.S.

QCOLOMBIA - Clever Leaves, a Colombian company authorized to handle pharmaceutical grade cannabinoids, announced that its subsidiary, Herbal Brands, managed to establish a strategic...


Get our daily newsletter with the latest posts directly in your mailbox. Click on the subscribe and fill out the form. It's that simple!