How Colombian Minimum Wage Affects Visa Applications?

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The annual increase for the Colombian Legal Monthly Minimum Wage (SMLMV) for 2026, set at $1.750.905 COP, significantly impacts foreign nationals applying for Colombian visas. Since many visa categories—such as Digital Nomad, Retirement, and Investor visas—require applicants to demonstrate economic solvency as a multiple of the SMLMV, this 23% wage increase directly raises the financial thresholds necessary for visa eligibility and approval. This article details the new minimum economic requirements for key visas following the 2026 adjustment.

Through Decrees 1469 and 1470, issued on December 29, 2025, the President of Colombia, Gustavo Petro, announced increases to the Legal Monthly Minimum Wage (SMLMV) and the transportation subsidy. Effective January 1, 2026, the Colombian minimum wage (SMLMV or salario mínimo) was set at $1.750.905 ($467 USD approx based on a conversion rate (TRM) of 3,750 pesos per dollar.), and with a transportation subsidy of $249.095 ($66,42 USD approx., based on a conversion rate of 3,750 pesos per dollar), the monthly income for formal workers will total $2.000.000. This increase represents a 23% rise compared to the minimum wage in effect during 2025.

The increase in the Colombian minimum wage not only impacts the national economy, businesses, inflation, and the CPI, but it also directly affects immigration regulations and requirements. For foreigners interested in applying for a Colombian visa, this means an increase in the economic solvency thresholds they must demonstrate to qualify for the visa profile that best suits their goals and needs.

What is the Colombian Minimum Wage?

The monthly minimum wage is the minimum remuneration established by law that employers must pay their workers for their labor during a month of work. The Substantive Labor Code, under Article 145, defines the minimum wage as the remuneration every worker is entitled to receive to cover their basic needs and those of their family.

How is the Colombian Minimum Wage Increase Given?

According to Sentence C-1433 of 2000 of the Constitutional Court, the Colombian minimum wage must be adjusted annually to protect workers against inflation and the loss of purchasing power of the currency. The Court emphasizes that the remuneration must guarantee a living minimum and be accommodating, maintaining its equivalence with the price of labor. This periodic adjustment seeks to counteract the loss of purchasing power, ensuring that the salary maintains its real value in constant terms.

The increase of the Colombian minimum wage is determined annually by the Concertation Commission (composed of representatives of the Government, the country’s largest employer associations, and the most representative unions), which negotiates based on key economic indicators such as the CPI (Consumer Price Index), GDP ( Gross Domestic Product), productivity, and the wage contribution to national income.

For the annual setting of the minimum wage, the commission must decide by December 15th. If this is not possible, the parties will have another opportunity to reach consensus before December 30th. If, by that date, an agreement is not reached, as happened for 2026, the Government will determine it by decree, in accordance with Article 8 of Law 278 of 1996.

What Changes Does the Minimum Wage (Salario Mínimo) in Colombia Produce for Visa applications?

The 2026 Colombian minimum wage, set at $1.750.905 COP (approximately $469 USD), is a key factor in visa applications. This is because the economic solvency requirements for various visas are typically defined as multiples of the minimum wage. Consequently, the new minimum wage directly raises the minimum economic amounts applicants must demonstrate, a change that will be detailed below with the specific adjustments for each type of visa.

Visa Type	Minimum Wages Required	Amount (COP)	Approx. Amount (USD)
Digital Nomad (V)	3	5.252.715	1,400
Retirement (M)	3	5.252.715	1,400
Business Owner (M)	100	175.090.500	46,690
Real Estate Investment (M)	350 for the property purchase	612.816.750	163,418
Foreign Direct Investment (M)	650	1.138.088.250	303,490
Working Holiday (V)	5	8.754.525	2,335
Temporary Services Provider (V)	100	175.090.500	46,690
Annuity (V)	10	17.509.050	4,670
Tourism (V)	10	17.509.050	4,670
Business – Market Exploration (V)	10	17.509.050	4,670
Student (V)	10	17.509.050	4,670
Medical Treatments (V)	10	17.509.050	4,670
Administrative Proceedings (V)	10	17.509.050	4,670
Religious (V)	100	17.509,050	46,690
Volunteer (V)	100	17.509,050	46,690
Work (M)	100	17.509,050	46,690
Freelancer (M)	5	8.754.525	2.335

These changes are calculated based on the 2026 Colombian Minimum Wage (COP $1,750,905) and an exchange rate of COP $3,750 per USD.

The increase in the minimum wage in Colombia for 2026 makes demonstrating economic solvency for a visa more expensive, as it requires proving larger amounts of money to meet the established requirements for visa feasibility and potential approval. Remember that expert professional advice will not only help you identify the right visa for your profile, but also validate and arrange financial evidence and submit a strong, compliant visa application.

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Medellin Guru's comprehensive visa and passport series

The Colombian visa changes that went into effect in October 2022 were significant. So, on the Medellin Guru site, we have a comprehensive series of visa articles that are kept up-to-date and should answer most visa questions. These articles include:

We have looked in detail at the nine most popular Colombian visas used by foreigners:

Also, we have looked in detail at three additional Colombian visas, which are less popular for foreigners:

Rentista visa (annuity visa) – for foreigners with a fixed income
Beneficiary visa – for relatives of visa holders
Expertise visa – for professionals

In addition, we have a guide to Colombia tourist visas and how to extend a tourist visa. Also, we have a guide to renewing U.S. passports in Colombia and a guide to obtaining a Colombian passport.

Furthermore, we provide information about travel insurance that meets the insurance requirement for Colombian visas. And we have a guide to how apply for a cedula extranjeria in Colombia and a guide to using notaries in Medellín and Colombia. Finally, Medellin Guru has partnered with a visa agency to offer Colombia visa services.

All of our Colombia visa articles are up to date (2024) and constantly receive updates in 2025.

The Bottom Line: How Colombian Minimum Wage Affects Visa Applications?

The increase in the Colombian minimum wage (Salario Mínimo Legal Mensual Vigente – SMLMV) for 2026 directly raises the economic solvency requirements for visa applicants. This statutory adjustment means that individuals applying for various types of visas must now demonstrate a higher level of monthly income or savings to meet the required multiples of the SMLMV. Consequently, this change makes it more expensive and challenging to demonstrate the necessary funds for visa eligibility and approval.