Colombia Investment Visa: Your Path to Investing in Colombia

Looking to invest in and live in Colombia? Then the Investor Visa is for you. Below is our guide on who the investor visa is for, what is required to obtain this visa, and what documentation etc you need to apply.

An introduction to the Colombia Investor Visa

The Colombian Business Investor Visa is structured to encourage foreign investment by providing a pathway to residency for investors. There are two main types of investment visas available: the Migrant (M) Visa and the Resident (R) Visa.

Migrant (M) Visa

This visa is intended for those who make a significant investment in a Colombian business or real estate. The investment requirement for the M visa is a minimum of 100 times the Colombian minimum monthly wage, which amounts to about $25,000 USD if investing in a new business. This visa is valid for three years and can be renewed. To qualify, applicants need to demonstrate their investment through documentation like certificates of investment, bank statements, and proof of financial stability.

Resident (R) Visa

The R visa is available for those who invest an amount equivalent to 650 times the Colombian minimum wage, approximately $200,000 USD. This visa is noted for granting permanent residency status and is recognized for its high status, offering benefits such as the ability to enter and leave Colombia multiple times and the potential to obtain employment benefits easily. The visa lasts for five years but requires verification of the investment by the Bank of the Republic and other formal documentation.

For both types of visas, the process generally involves providing a comprehensive list of documents, including proof of investment, a business plan, a criminal background check from countries of residence in the past five years, and proof of health insurance. The application can be initiated online, and typically involves an interview at a Colombian consulate or embassy. The processing time for these visas can take up to 30 days once all documents are submitted.

Applicants should be aware that once the visa is obtained, there is a requirement to register it within a specified timeframe at Migración Colombia to avoid penalties. Continued eligibility for the visa, particularly when renewing, will require proving that the investment remains operational and is in good standing.

The Colombian Business Investor Visa not only facilitates investment into the country but also provides a platform for investors and their families to access Colombia's social services, potentially paving the way to citizenship after a set period of residency.

Reasons foreigners choose the Colombia Investor Visa

Pathway to Citizenship

The Investor Visa provides a clear and direct route to obtaining permanent residency and eventually citizenship in Colombia. By maintaining your investment and residency, you can become a Colombian citizen after a certain period, typically five years, making it an attractive option for those seeking long-term settlement.

Economic Opportunities

Colombia's growing economy offers numerous investment opportunities across various sectors such as real estate, tourism, agriculture, and technology. The Investor Visa allows you to capitalize on these opportunities, potentially yielding high returns on your investment.

Stable Investment Environment

Colombia has made significant strides in improving its business climate, with strong legal protections for investors, a stable political environment, and various government incentives to attract foreign capital. This stability makes it a safer and more predictable environment for your investments compared to other countries.

Lower Investment Threshold

Compared to investor visas in many other countries, Colombia's required investment amount is relatively low. With a minimum investment of approximately USD 110,000, it is more accessible for many investors, providing an attractive balance between investment size and potential benefits.

Quality of Life

Colombia offers a high quality of life with a relatively low cost of living. The country boasts diverse landscapes, vibrant cities, and a rich cultural heritage. For investors looking to relocate, Colombia provides a comfortable and enriching lifestyle, which is an important consideration beyond the financial aspects.

Tax Advantages

Colombia offers several tax benefits for foreign investors, including tax exemptions and deductions for certain types of investments. Additionally, the country has signed multiple double taxation treaties, reducing the tax burden on international income and making it a tax-efficient choice for global investors.

Colombian Real Estate Investment Visa (M-10)

The Colombian Real Estate Investment Visa, commonly known as the M-10 Visa, is specifically designed for foreign investors who purchase real estate in Colombia. This visa provides a pathway to temporary residency with the potential for long-term benefits, making it an appealing option for those interested in the country's flourishing real estate market.

Key Benefits

• Temporary Residency: The M-10 Visa grants temporary residency in Colombia, typically valid for three years, with the possibility of renewal. This allows investors to live and work in Colombia, enjoying the country's vibrant culture and lifestyle.
• Path to Permanent Residency and Citizenship: Holders of the M-10 Visa can eventually apply for permanent residency. After holding permanent residency for five years, they may also be eligible to apply for Colombian citizenship, offering long-term stability and integration into Colombian society.
• Real Estate Investment Opportunities: The Colombian real estate market is diverse and growing, offering numerous investment opportunities in residential, commercial, and land properties. Investors can benefit from the appreciation of property values and potential rental income.
• Lower Investment Threshold: Compared to similar visas in other countries, the M-10 Visa has a relatively low minimum investment requirement. As of 2024, the required investment is around COP 406 million (approximately USD 110,000), making it accessible to a wider range of investors.

Eligibility Requirements

• Minimum Investment Amount: Investors must make a real estate purchase with a minimum value of approximately 350 times the minimum monthly wage in Colombia, which is about COP 455 million (approximately USD 110,000) as of September 2024.
• Real Estate Purchase: The investment must be in real estate within Colombia, including residential, commercial, or land properties. This can include buying property for personal use, rental income, or business purposes.
• Proof of Investment: Documentation proving the purchase and value of the real estate investment is required. This typically includes a property deed and a bank certificate showing the transfer of funds.

Post-Approval Obligations

• Maintain Investment: The real estate investment must be maintained throughout the visa validity period. Selling the property before the visa expires could affect the visa status and residency rights.
• Tax Obligations: Investors must comply with Colombian tax regulations, including property taxes and any applicable income taxes. Colombia has several tax incentives and treaties to minimize the tax burden on foreign investors.
• Renewal: Investors must apply for visa renewal before the current visa expires if they wish to continue residing in Colombia. This involves ensuring that the real estate investment is still in place and meeting any updated requirements.

The Colombian Real Estate Investment Visa (M-10) offers a valuable opportunity for foreign investors to gain residency in a country with a dynamic and growing real estate market. By meeting the investment requirements and adhering to local regulations, investors can enjoy the economic benefits, cultural richness, and potential for long-term residency and citizenship in Colombia.

This visa is ideal for those looking to diversify their investment portfolio, take advantage of Colombia's economic growth, and enjoy the rich cultural and natural beauty the country has to offer.

Colombian Business Investment Visa (M-6)

The Colombian Business Investment Visa, commonly known as the M-6 Visa, is tailored for foreign investors who make significant business investments in Colombia. This visa offers temporary residency and the potential for long-term benefits, making it an attractive option for entrepreneurs and businesspeople looking to capitalize on Colombia's growing economy.

Key Benefits

• Temporary Residency: The M-6 Visa grants temporary residency in Colombia, typically valid for three years, with the possibility of renewal. This allows investors to live and work in Colombia, engaging directly with their business ventures.
• Path to Permanent Residency and Citizenship: Holders of the M-6 Visa can eventually apply for permanent residency. After holding permanent residency for five years, they may also be eligible to apply for Colombian citizenship, offering long-term stability and integration into Colombian society.
• Business Growth Opportunities: Colombia's dynamic economy provides numerous opportunities for business growth and expansion. The M-6 Visa enables investors to establish and grow their businesses in a favorable economic environment.
• Economic Stability and Incentives: Colombia has improved its business environment significantly, offering strong legal protections for investors and various government incentives to attract foreign capital. This stability makes Colombia an appealing destination for business investments.

Eligibility Requirements

• Minimum Investment Amount: Investors must make a business investment with a minimum value of approximately 650 times the minimum monthly wage in Colombia, which is about COP 845 million (approximately USD 200,000) as of September 2024.
• Business Investment: The investment must be in a Colombian company or business venture. This can include starting a new business, purchasing an existing business, or investing in a business project.
• Clean Criminal Record: Applicants must present a clean criminal record from their country of residence, ensuring they meet Colombia's security and legal standards.
• Proof of Investment: Documentation proving the business investment, such as a bank certificate showing the transfer of funds and legal documents related to the business, is required.

Post-Approval Obligations

• Maintain Investment: The business investment must be maintained throughout the visa validity period. Divesting from the business before the visa expires could affect the visa status and residency rights.
• Tax Obligations: Investors must comply with Colombian tax regulations, including corporate taxes and any applicable income taxes. Colombia offers various tax incentives and treaties to minimize the tax burden on foreign investors.
• Renewal: Investors must apply for visa renewal before the current visa expires if they wish to continue residing in Colombia. This involves ensuring that the business investment is still in place and meeting any updated requirements.

The Colombian Business Investment Visa (M-6) offers a valuable opportunity for foreign investors to gain residency in a country with a dynamic and growing economy. By meeting the investment requirements and adhering to local regulations, investors can enjoy the economic benefits, cultural richness, and potential for long-term residency and citizenship in Colombia.

This visa is ideal for those looking to diversify their investment portfolio, take advantage of Colombia's economic growth, and enjoy the rich cultural and natural beauty the country has to offer.

What are the requirements to be eligible for the Colombia Business Investor Visa?

To qualify for a Colombian Business Investor Visa, both the Migrant (M) and Resident (R) Visa categories require a series of comprehensive documentation to ensure the applicant meets all regulatory requirements. Here's a detailed breakdown of these documentation requirements:

Financial and Investment Documentation

Proof of Investment: Evidence must be provided to show that the investment meets the minimum financial requirements. This could include:

• For the M visa, proof of an investment of around $110,000 USD.
• For the R visa, a larger investment typically around $200,000 USD.
• Relevant documents could be share certificates, property deeds, or business registration documents, which demonstrate the investment in a Colombian business or real estate. This also includes evidence from the Bank of Republic of Colombia showing the registered investment (if it's a property purchase).

Identification and Personal Documents

• Valid Passport: A copy of the bio-page and any Colombian visas or entry stamps if previously obtained.
• Background Check: Police clearance certificates from the applicant's country of origin and any country where they have resided for more than six months in the past five years. These documents often need to be apostilled or legalized depending on the country of issue.

Legal Documents

Apostilled Documents: Many documents sourced from outside Colombia require an apostille to certify their legitimacy. These include:

• Birth certificates.
• Marriage certificates, if applicable.
• Any other public document that supports the visa application, such as adoption records or divorce decrees.

Financial Solvency

• Bank Statements: Recent statements (typically from the last three months) showing sufficient financial resources to support the investor and any dependents while in Colombia.

Health Insurance

• Proof of Health Insurance: Valid and comprehensive health insurance coverage for the duration of the stay in Colombia.

Business Plan

• Detailed Business Plan: A comprehensive business plan outlining the purpose of the investment, expected outcomes, employment creation, and how it contributes to the Colombian economy.

Additional Requirements

• Certificate of Legal Entry and Stay: If the applicant is already in Colombia, documentation confirming their legal status in the country may be required.
• Registration of Foreign Investment: For investments in businesses or real estate, it's crucial to register the investment with the Banco de la República (Colombia's central bank), which often involves producing additional financial documentation and details about the investment.

It is advisable for potential applicants to engage with a professional immigration attorney such as Colombia Law Connection to ensure all documents are correctly prepared and submitted according to the latest regulations and requirements.

What is the process for applying for the Investor Visa?

Applying for a Colombian Investor Visa involves several detailed steps, which must be carefully followed to ensure a successful application. Here is a step-by-step guide based on the typical requirements and processes:

Step 1: Determine Eligibility and Investment Type

• Choose Investment: Decide whether you will invest in real estate, a new business, or existing business shares. The investment amount required varies depending on the type of visa (Migrant or Resident).
• Consult Legal Advice: It's advisable to consult with an immigration lawyer or a visa consultant who specializes in Colombian visas to ensure the investment meets legal requirements.

Step 2: Gather Required Documentation

• Collect Financial Documents: This includes proof of the investment, bank statements, and financial solvency evidence.
• Obtain Legal Documents: Gather personal documents like passport, marriage certificates, and birth certificates. Ensure that any document from outside Colombia is apostilled or legalized as necessary.
• Prepare a Business Plan: If investing in a business, prepare a detailed business plan outlining the scope, potential impact, and financial forecasts of the business.

Step 3: Register the Investment

• Register with Banco de la República: For investments in real estate or business, you must register the investment with Colombia's central bank. This process typically involves submitting proof of the investment along with other required financial documents.

Step 4: Apply for the Visa

• Submit Application Online: Complete the visa application form on the Colombian Ministry of Foreign Affairs website. Upload all required documents in PDF format and any photos in JPG format.
• Pay Application Fees: Pay the necessary visa application fees online during the submission process.

Step 5: Visa Application Review

• Consulate Review: The application will be reviewed by the Colombian consulate or embassy. This may involve an interview where you will discuss your investment and intentions in Colombia.

Step 6: Visa Issuance

• Receive Your Visa: If your application is approved, the consulate will place the visa in your passport. You will be notified to pick up your passport or it will be mailed to you.

Step 7: Travel and Validate Visa

• Enter Colombia: Travel to Colombia and validate your visa by entering the country before the visa expires (usually within a few months of issuance).

Step 8: Register in Colombia

• Register with Migración Colombia: Within 15 days of entering Colombia, register your visa with Migración Colombia and apply for a foreign ID card (Cédula de Extranjería).

Step 9: Comply with Local Regulations

• Tax Registration: Register with local tax authorities and understand your tax obligations in Colombia.
• Renewal: Keep track of visa expiration and renewal requirements. Resident visas may require renewal every five years, and Migrant visas typically need renewal every three years.

Step 10: Monitor Investment

• Ongoing Compliance: Ensure your investment remains compliant with Colombian laws and regulations. This may involve regular reporting and adherence to financial regulations.

This process can vary slightly depending on individual circumstances, the type of investment, and specific requirements from the Colombian consulate processing the application. Always verify the current requirements and procedures with the Colombian Ministry of Foreign Affairs or your trusted Colombia Law Connection legal advisor.

Can my family stay with me in Colombia under my investment visa?

Yes, your family can join you and stay in Colombia under the Colombian Investor Visa. Here's a detailed breakdown of the different circumstances under which your family can stay:

Main Applicant: Colombian Investor Visa

As the main applicant, you must make a qualifying investment in Colombia, such as purchasing real estate or investing in a Colombian company. The minimum investment amount varies depending on the type of investment.

Family Members

Family members can stay with you under the visa as dependents. The eligible family members typically include:

• Spouse or common-law partner
• Children under 25 years old
• Dependent parents of the main applicant or spouse

Dependent Visa for Family Members

Your eligible family members will need to apply for a dependent visa, known as the TP-10 or Beneficiary Visa. The following are the key requirements and conditions:

Proof of Relationship:

• Spouse/Common-law Partner: Marriage certificate or proof of common-law partnership.
• Children: Birth certificates proving the relationship.
• Parents: Documents proving dependency and relationship.

Financial Support:

• The main applicant must provide proof of sufficient financial means to support the dependents. This could be through bank statements, proof of income, or similar financial documents.

Application Process:

• Each family member must submit a separate visa application, including required documentation such as a valid passport, proof of relationship, financial support evidence, and any other documents specified by Colombian immigration authorities.

Validity and Renewal:

• The dependent visa will be valid for the same duration as the main applicant's investor visa. Dependents can renew their visas as long as the main applicant's investor visa remains valid and the investment conditions are maintained.

Residence and Rights:

• Dependents will be allowed to reside in Colombia but typically will not have the right to work unless they obtain separate work permits or visas that allow employment.

Education:

• Dependent children will have access to education in Colombia, and you can enroll them in local schools or universities as per Colombian regulations.

Healthcare:

• Family members will have access to the Colombian healthcare system, but it's advisable to have health insurance to cover any medical expenses.

Important Considerations

• Application Timing: It is advisable to apply for the dependent visas at the same time as the main applicant's investor visa to streamline the process.
• Legal Assistance: Engaging with a legal firm specializing in immigration can help ensure all documentation is correctly prepared and submitted, improving the chances of a smooth and successful application process.

If you need further assistance with the application process or any other legal services related to your move to Colombia, feel free to reach out to Colombia Law Connection for professional support.

Some common issues people have when applying for the Colombian Business Investor Visa

When applying for a Colombian Investor Visa, several common issues can arise that applicants should be aware of to avoid complications:

Delayed Registration and Cedula Application

After receiving your Colombian visa, you must register the visa with Migración Colombia and apply for a Cedula de Extranjeria within 15 days. Failure to do so can lead to substantial fines.

• Document Requirements: All foreign documents must be properly apostilled or legalized and translated into Spanish if they are not already in this language. Failure to comply with these requirements can delay or invalidate your application.
• Financial Proof Issues: Applicants must provide recent financial documents (no older than three months at the time of application) to prove their financial solvency. Using outdated financial documents can lead to delays or rejections of the visa application.
• Visa Status and Expiry Concerns: It's important to not stay outside Colombia longer than the visa allows. For M visas, leaving Colombia for more than six continuous months can result in visa expiration. For R visas, the period is two continuous years.
• Health Insurance Requirements: Although not always strictly enforced, having health insurance coverage is officially required and should be considered essential for smoothing the application process.
• Incorrect or Incomplete Applications: Submitting applications with errors or missing information can significantly delay processing. If errors are discovered, it may be necessary to withdraw and resubmit the application, which can extend the process by weeks or even months.

To manage and mitigate these issues, it's advisable to:

• Double-check all documents for accuracy and completeness before submission.
• Ensure all foreign documents are up to date and correctly apostilled or legalized.
• Register the visa and apply for a Cedula promptly upon arrival or visa approval.
• Keep track of the length of stays outside of Colombia to avoid inadvertently invalidating the visa.

These precautions can help streamline the application process and reduce the likelihood of encountering delays or rejections.

How much does it cost to apply for the Investor Visa?

The costs associated with applying for a Colombian Business Investor Visa include several categories, now updated to include service fees for specific legal assistance:

• Visa Application Fee: The application fee is $55.00 USD, paid during the online application submission. This fee is non-refundable.
• Government Fee for Visa Issuance: After the visa is approved, a government fee of $275.00 USD is required for the issuance of the electronic visa.
• Colombia Law Connections Service Fee: If using the services of Colombia Law Connection, our fee for managing the visa application process is $1100.00. This includes handling the necessary documentation, application submission, and potentially other legal services related to the visa process.
• Additional Costs: These include fees for document translation, certification (apostille), and legal consultations. The need for translated and apostilled documents can add significant costs, depending on the number of documents and the fees charged by the service providers.
• Bank and Investment Certification Costs: Certifications such as the certificate of investment issued by a legal entity in Colombia and certificates from accountants verifying share composition might incur additional charges. These are critical for proving the legal standing and validity of the investment.
• Miscellaneous Costs: This includes expenses for obtaining background checks, financial records, and other supporting documents from your home country, which vary based on local rates and the specifics of what is needed.

Planning for these expenses is crucial to ensure that all potential costs are covered throughout the Colombian Business Investor Visa application process.