In brief, it is not possible for U.S. investors to directly open a USD account within Colombia. Instead, many investors choose to open a bank account with a Colombian financial entity, which will hold the U.S. currency in its offshore subsidiaries. While there are regulations and requirements that must be satisfied, the process is generally straightforward. Having a USD account in Colombia can offer various benefits, including the ability to transact in U.S. dollars, diversify currency holdings, and save on currency conversion fees.
It is strongly suggested to conduct thorough research before opening a USD account in Colombia, and to choose a reputable bank that complies with all regulatory requirements.
If you require additional information or have further inquiries, please do not hesitate to contact us.