I am in the US and I want to buy an Iphone 5 but I will return to Colombia in two years.

Iphone 5 does not have a sim card. Does the Iphone 5 will come later with a sim card? do I wait or do I buy an Iphone 4?

Check the tech specs carefully - http://www.apple.com/iphone/specs.html
The CDMA iPhones are sold with contracts with either Verizon or Sprint.  They will only work with those CDMA networks.  Their GSM radios will allow roaming in foreign countries, or may be unlocked (if certain contract conditions are met) so they can be used with local nano-SIM cards & plans when travelling outside of the USA (to avoid roaming fees when out of the USA).
The model A1428 GSM only iPhone 5 model is sold for use with AT&T.  When a factory unlocked version of this becomes available (whenever that is) it could also be used with T-mobile or any GSM provider, but the LTE frequencies may not work with carriers outside of the USA.
The model A1429 GSM only iPhone 5 is intended for use in Europe, Asia and other places that use different LTE frequencies thatn AT&T does here.  That model is not even expected to be sold here in the USA, as there'd be no carrier to use it with for LTE data.
I can understand your thinking long term, but honestly, in two years, the iPhone 5 is going to be very, very old news.  We may even be on the iPhone 7 (if they keep naming them in numeric series) or who knows what by then.  So if you are going to be in the USA, why not just get what will work best for you here for those two years, and just plan on retiring it and upgraded when you go back home (or wherever life takes you by then).  You don't even know what changes or upgrades to the networks in Colombia will bring by then - LTE may already be old news and 5g or whatever next is coming may be rolling out.

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