The Colombia investment visas are intended for foreigners who make an investment in Colombia. We provide a 2024 update with recent visa changes. And these visas are relatively easy to get once you have made an investment in Colombia.
Colombia changed its Colombian visa rules, which went into effect on October 21, 2022. Colombia previously had two types of investment visas: A migrant visa and a resident visa for larger investments. This changed due to the new resolution.
With the new visa rules, the type R resident visa changed its category to type M, which can be obtained by making a direct foreign investment for 650 minimum salaries (845,000,000 pesos) or by investing in real estate equivalent to 350 minimum salaries (455,000,000 pesos).
Investment Visa
Business Visa
The M investment visa currently costs 324 USD.
Note a migrant visa loses its validity if you leave Colombia for a period of over six months without returning to Colombia.
Also, we have this article about how to obtain a Colombia investment visa in Spanish.
Has the visa process changed in Colombia due to the new Resolution 5477?
According to expatgroup.co, the visa agency we partnered with, tells us that with the new resolution, the government has introduced new application requirements, in addition to having eliminated some visas, such as the M student visa, and changed the category, for example, the R type visa for larger investment is now M type category.
The visa agency we partnered with has helped many foreigners obtain visas during the pandemic, including retirement visas, marriage visas, student visas, investment visas, and resident visas.
How to Apply for a Colombia Investment Visa
You can apply for a Colombia investment visa online. In addition, you can obtain Colombian visas at Colombian consulates around the world. In the U.S., Colombia has consulates located in Atlanta, Boston, Chicago, Houston, Los Angeles, Miami, Orlando, Newark, New York, San Francisco and Washington DC.
The Colombian visa process is fairly easy as it’s done online. You can apply for a Colombia visa online here. This application will require scans of all required documents in PDF files plus the photo in jpg format. In addition, a detailed guide for applying online is found here.
Visas in Colombia are issued by the Ministerio de Relaciones Exteriores. Since the coronavirus, all visas are issued electronically, so you do not have to travel to Bogota for the stamp.
I successfully obtained three Colombian visas that I applied for my own in the past that were good for a total of five years. But the biggest challenge with doing a Colombian visa yourself is not benefiting from the experiences of a visa agency, which has processed hundreds of visas and knows exactly what is needed for each type of visa.
Also, another big benefit of using a visa agency is that they help you gather all the information and documents necessary for the visa application. The cost of the service includes immigration advice, visa application, visa registration, and application for a foreigner identification card.
So, for my latest visa received in 2018, a Colombia resident visa, I used a visa agency. And I found the experience painless and now highly recommend using a visa service over doing a Colombia visa application yourself. The bottom line is with a visa agency you are less likely to run into problems.
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Investment Visa Requirements
Documents required for all types of investment include:
Additional documents required depend on the type of investment.
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1. Migrant visa for investment in business
If you are applying for a M visa for investment in a business, you need to invest at least 100 times the Colombian minimum monthly salary.
The minimum wage in 2024 in Colombia is 1,300,000 pesos per month. 100 times this equals 130,000,000 pesos or $ 32,500 USD (at an exchange rate of 4,000 pesos per USD). In addition, you will need for the visa application a number of documents, which can include:
2. Migrant Visa for Investment in Real Estate
If you are applying for a M visa for investment in real estate, you will need to invest at least 350 times the Colombian minimum monthly salary, which is 455,000,000 pesos or $113,750 USD (at an exchange rate of 4.000 pesos per USD). In addition, you will need for the visa application:
3. Investment Visa for Foreign Direct Investment
If you are applying for an investment visa for foreign direct investment, you must invest at least 650 Colombian minimum wages, which is 845,000,000 pesos or 211,250 USD (at an exchange rate of 4,000 pesos per USD). Additionally, you will need
Duration of Validity for Colombian Investment Visas
With the three types of investment for the M investor visa, the foreigner can obtain up to 3 years of validity for any investment made, whether it is the purchase of real estate, direct foreign investment, or the setting up of a business.
I successfully obtained three Colombian visas on my own in the past that were good for five years. Also, I found the process relatively straightforward without much documentation required. But for my latest visa, a Colombia resident visa, I used a visa agency.
Using a Visa Agency for a Colombian Investment Visa
If you are in Colombia, you can use a visa agency to obtain a Colombia visa. A visa agency can handle the online application and ensure you have the required paperwork.
Medellin Guru has partnered with what we believe is the best visa agency in Medellín to offer Colombia visa services. Features of this service include:
- Online chat – get visa questions answered fast.
- Online quotes – get immediate visa quotes.
- Office in El Poblado in Medellín.
- Competitive price compared to other visa services.
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We reviewed all the Colombia visa agency services in Medellín and found one agency that offers a more efficient visa service with more features and more comprehensive communications including online chat, WhatsApp, video call, email and phone plus a low price and a convenient office in El Poblado.
Our visa partnership is an affiliate relationship (like the Amazon affiliate program). If you use our visa partner, Medellin Guru receives a small commission and you support the website. This is at no additional cost to you. The price remains the same, whether you use a button or affiliate link on this website or not.
Furthermore, the visa agency we partnered with offers visa services anywhere in Colombia. So, if you are located in another city in Colombia you can use this service.
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Getting a Colombian Cedula
After you have successfully received your Colombia investment visa, you have a maximum of 15 calendar days to register your visa with Migración Colombia to get a Cedula de Extranjeria (Colombian ID for foreigners). Or if you received your visa at a consulate, you will have 15 calendar days after you arrive in Colombia to register your visa.
Due to being photographed and fingerprinted this must be done in-person at a Migración Colombia office.
Especially relevant, it is very important to register your Colombian visa within the allowed time frame. If not, you will be liable for a big fine of up to seven times the minimum monthly salary in Colombia. The minimum salary in Colombia is $1,300,000 COP per month in 2024. So, the fine is up to 9,100,000 COP pesos in 2024.
To register your visa and apply for a cedula this must be done at one of the Migración Colombia offices. You can find Migración Colombia offices in major cities in Colombia.
- Barranquilla – Carrera 42 # 54-77, Barrio El Recreo
- Bogotá – Calle 100 #11B-27
- Cali – Avenida 3 norte # 50N-20
- Cartagena – Carrera 20 B # 29-18, Barrio pie de la Popa
- Medellín – Calle 19 #80A-40, Barrio Belén (the entrance is on the other side of the building on Calle 19A)
A complete list of the Migración Colombia offices is found here. In addition, we have a guide to applying for a Cedula Extranjeria in Colombia. Starting on September 21, Migración Colombia offices have reopened in Colombia. So, it again possible to obtain a Cedula de Extranjeria.
Dual Citizenship
After having a migrant (M) investment visa for five years you are eligible to receive a resident (R) visa. And after having an R visa for five additional years you can apply to become a citizen of Colombia. And you won’t have to give up your existing citizenship. Colombia permits dual-citizenship, as does the U.S. and many other countries.
Once you become a dual citizen with Colombian citizenship, you will no longer need to deal with visas anymore. Also, you will be able to travel to a few countries as a Colombian citizen without a visa such as Russia, which require a visa for U.S. citizens.
Also, if you have Colombian citizenship, this benefits you with the Mercosur trade block. Nationals of Member States (Argentina, Brazil, Paraguay and Uruguay) and Associated States (Bolivia, Chile, Colombia, Ecuador and Peru) do not need a passport or visa to travel around the region, with only a national identity card required.
In addition, the Mercosur Agreement grants the right to residence and work for citizens with no requirement other than nationality. Citizens of the Member States and Associated States that are part of the agreement enjoy a facilitated procedure for applying for a residence visa, as long as they have a valid passport, birth certificate and a negative certificate of criminal record.
To become a citizen, Colombia requires a citizenship test, just like the U.S. does. You will be required to pass a test related to Colombian history, geography and the constitution. Also, a basic Spanish oral test is required. Those who have a bachelor’s degree from a Colombian university or are over 65 years old are exempt from these tests.
Furthermore, a complete list of the requirements for Colombian citizenship is found on the Cancillería website here.
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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:
- Colombia Visa Guide: Ultimate Guide How to Get a Colombian Visa
- How to Obtain a Colombian Visa with Up-to-Date Info – an overview of all the Colombian visas
- Popular Colombian Visas for Foreigners: Which Visa is the Most Popular?
- Coronavirus Impacts on Colombian Visas and Tourist Visas
- Visa Agencies: A Guide to Visa Agencies in Medellín and Colombia
- 9Common Colombian Visa Mistakes: How to Avoid Them
We have looked in detail at the seven most popular Colombian visas used by foreigners:
- Digital Nomad Visa
- Retirement visa
- Marriage visa
- Investment visa
- Resident visa
- Work visa
- Student visa
- Visitor visa
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.
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The Bottom Line: Obtaining a Colombia Investment Visa
Colombia’s investment visa is relatively easy to get with few documents needed and the investment required is lower than many other countries. But the Colombia investment visa requires making an investment in Colombia before you can apply.
The visa costs in Colombia are lower than in many other countries in Latin America. Also, the Colombian visa process is streamlined with online applications and is relatively fast. We partnered with a visa agency that can help you obtain an investment visa for a competitive price.
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Editors note: updated on February 15, 2023 with updated information regarding the new visa rules.
Editors note: updated on June 28, 2023, with new images.
Editor’s note: The minimum wage amounts for 2024 have been updated as of April 15th.
79 thoughts on “How to Obtain a Colombia Investment Visa – 2024 Update”
Hey Jeff, thanks for all of the information about visas. Do you know if investing in a Colombia ETF such as ICOL or GXG sufficient to meet the requirements for the M6 visa?
Ask the visa agency we partnered with – click on this link – https://expatgroup.co/english/visasincolombia/ and there is a chat available during business hours at the bottom or WhatsApp on the left that is answered when they return to work.
Victor, in short, it has to be funds brought into Colombia and registered with the Central Bank. then for this specific visa, must show proof of investment (Form 4) in a Colombian business. The agency can explain more about this.
Publicly traded stocks do NOT qualify.
Thanks for the clear answer, GATO. It’s unfortunate that it can’t be that easy, but I guess it does make sense.
I didn’t quite understand, are there commissions for the withdrawal? And does the money go to the account on the exchanges quickly? And
Ask the visa agency we partnered with. Click on this link – https://expatgroup.co/english/visasincolombia/ and there is a chat available during business hours.
I currently have an M investment visa that expires at the end of 2021. You you have any information on the requirements for renewing this visa?
We recommend asking the visa agency we partnered with – click on this link – https://expatgroup.co/english/visasincolombia/ and there is a chat available at the bottom right of the page to ask questions during business hours.
I’d like to ask a couple questions…
1) How do you prove the worth of a property? If it were worth slightly less than the requirement, could you just make a deal to pay a little more to cross the threshold? I already own an apartment in Medellin, I don’t THINK it would meet the requirements, but it might get me 70% of the way there and I’m looking at buying another property that would likely fill the other 30%. Can you have 2 properties added together to make the requirement?
2) This might just be my ignorance, but would the investor visa, would that permit you to work or open a business? I mean, ideally I’d love to live in Medellin, but I have no special skills or great education that would get me anywhere as far as getting a job. But if I could open a small business, then parlay the investor visa into resident visa, then into citizenship over the course of 10 years if I read this right, then that’s not that big of a stretch, I don’t THINK.
If you have a property you need to have brought the money into the country correctly and registered it as a foreign investment with the national bank. If it wasn’t registered, can’t be used for an investment visa.
No you can’t work with an investment visa. See our popular guide to the investment visa – https://medellinguru.com/investment-visa/
Hi Jeff, Great website, very informative. Is it necessary to have a visa in order to buy a small property in Colombia? I want to buy a small condo in Santa Marta and just go there on vacations. I would not be conducting any business. Would I need a visa to do that?
Thanks. You don’t need a visa to buy a property in Colombia. And you have to buy the property first before you can get an investment visa and the property has to be valued at least at the limits in the article above, which will be updated in early 2020 with new values. Also, see our guide to buying property for Medellín, which applies to other cities — https://medellinguru.com/medellin-real-estate/
Hello, Am interested in M6 visa, as an artist is it possible to operate my own studio gallery, showroom? Would the business require local employees to qualify?
Hi Drew, I recommend asking a visa agency. If you click on the blue “Use the Medellin Guru Visa Service” button in the article it will bring up a page with a chat box on the bottom right where you can chat directly with a visa agency.
Hello!
Great website thank you for the information. I have a M6 visa that is up for renewal in September 2019 (part owner of restaurant) and at my interview in Bogota they said for September they wanted to see proof that the business is working and that we are paying for example our employee’s social security. Do you know anything else about the M6 renewal process and what i need? I think after this renewal I wont have to renew again for three years. Thank you!!!
I recommend asking your questions to a visa agency. You can do this by clicking on the blue “Use the Medellin Guru Visa Service” button in the article. That will bring you to a page with a chat box at the bottom right where you can chat directly with a visa agency.
I’ve been talking to a law firm in Medellin about a corporate investment visa. They charge $3500 for the whole thing including registering the corporate. Is this reasonable?
Sorry I do not know if it is reasonable but I’m curious if you are starting up your own business (with the visa being a perk) or are creating this company for the purpose of getting the visa (without plans to make or lose money from the company)?
I am interested in what types of investments readers have made to quality for the M-6 investor visa. For investments, I prefer a more diversified approach (i.e. prefer to invest in several companies rather than putting all my eggs in one basket). Furthermore, investing in a friend’s business goes against the guidance of mixing business & pleasure. If buying stock in a large Colombian business doesn’t qualify, what real life options are out there & how do you find them?
I recommend asking these detailed questions directly to a visa agency. Click on the blue “Use the Medellin Guru Visa Service” in the above article and you can chat directly with the visa agency in the chat box at the bottom right of the window.
Hi Jeff.
Good info. If I want to invest more than $200,000.00 USD in a start up business in Medellin, can I apply for a R investor visa? By the way, I am not planning to stay in Colombia; although from time to time I will travel to Colombia to make sure everything is OK. or, what would you recommend?
Good morning,
I have a question regarding the foreign investment visa. I have been in Colombia for three years (more than 183 days / year) and have had previous work visas. I returned to the country January 2019 and am currently a tourist. As I am looking to buy an apartment I was told that due to my past time in Colombia I do not quality to be a foreign investor. I was wondering if you know anyone with a similar experience or if this information is correct as I have been told by Intercol that I should have no problem, but by other people that it could be an issue. Thank your for your help.
Hi Erin, I recommend coming to our Medellin Guru meetup on February 19 – we will have several experts there answering questions including a Colombian lawyer, visa agency and real estate agency. You should be able to get an answer to your question there.
https://medellinguru.com/february-medellin-guru-meetup/
Erin, please be aware that I am not a lawyer, but based on everything I have read online (including Colombian laws), as well as the information provided to me from lawyers – you are in fact correct. The investment cannot be registered as a direct foreign investment on Formulario #4 if you are considered a fiscal tax resident (for having been in the country for more than 183 days in any trailing 365 day period).
In my specific case, I actually had to leave the country for 3 months, so that I become “eligible” again to perform the investment.
Hi Jeff,
Thank you for the clear explanation! I am interested in applying for the M-6 visa… I am about to start a bar together with a local. The investment ‘I’ have to make is only 5.000 euro (I am from Holland), then I read in one of your responses that there are some other rules for younger people… I am 23 years old.
Well the main question is what do you think is the easiest way for me to be able to stay in Colombia?
I am wondering if it is possible if I transfer the ± 23.000 euro on the bank account of the company and if this is then sufficient for the visa.. or do I really need to prove that I spend the money?
Kind Regards!
Hello, I’m a Canadian national who married a Colombian last month, I applied online for the new M visa, and we have been requested to attend an interview in Bogota within 8 days we are going this weekend and attending the interview on Monday. My questions are has anyone done this interview? What does it consist of? what kind of question do they ask? how long does it take?
It took about 20 minutes for us when we went for the interview, they interviewed us separately and compared answers. They asked things like how we met, how many sisters and brothers we each have, have we met the other’s families, where we have traveled together, some personal things like any tattoos or surgeries. Also asked to see photos that we didn’t bring with us. See recent comments in our marriage visa article – https://medellinguru.com/marriage-visa/ for another interview experience.
I am wondering if you know what the residency requirements are for a M10. I have been in Colombia on various work visas for the past 3 years. I left the country for three weeks in Dec 2018 and returned in January 2019. I now have a tourist visa. I am planning on continuing to stay here and want to buy an apartment. I had thought I could get a M10 if I spent the 289,840,600 COP on a property. And one visa agency told me that since I was in a new calendar year that would be fine and I would qualify for a M10. However, an attorney told me that the M10 is just for foreign investors and that since I had lived more than 183 days in Colombia out of the past 365 days, I would be considered a “tax resident” and would not qualify as a foreign investor. He said the Cancilleria will request the “Migratory Certificate” which would show the number of days present in Colombia. Do you know why I received two different answers? And do you know which is correct? Thank you for your great site. It’s proving indispensable.
Hello Jeff – A question regarding the migrant visa for investing in real estate…does this need to be applied for immediately after the purchase of the property? I am currently on a TP-10 which is complete this coming Nov 2019.
Hi Elizabeth, that is a question that is best answered by a visa agency. There are several visa agencies listed in the article.
Can you find gold coins for sale in Colombia or 24k jewelry? The economy is questionable and I dont want to travel with the gold I have through the airport so I was hoping to just purchase some there. Thank you and great website.
Yes, you can find gold coins for sale and also gold jewelry – but 24K jewelry pieces bend easily so rarely used for making jewelry.
The /EN (English) portion for the InterCol URL doesn’t seem to exist.(but I can read the Espanol) Others may want to use Chrome browser web translator.
Is the property investment amount of $90,000 USD approx. what you need in cash to purchase property? Or does the property value have to exceed that amount? Thanks Jeff! Great article 🙂
If applying for M-10 visa for investment in real estate you will need to invest at least 350 times the Colombian minimum monthly salary, which is 273,434,700 pesos in 2018, which is about $83,228 at the current exchange rate. But in 2019, this will increase by about 6% with the next Colombian minimum salary. So, the article will be updated early next year to nearly $90,000 USD.
Hi Jeff, massively useful website. One question – can the investment be in more than one company i.e. spread out over 3-4 companies? Or does it have to be all 78m pesos in one company. Thanks, Jonathan
Hi Jonathan, thanks. I have only talked to expats that invested in one company. So, not sure about being able to invest in multiple companies. I recommend talking to one of the visa agencies listed in the article. InterCol has 2 offices and is responsive in my experience – http://inter-col.com/en/
My questions is for an M-6 visa…Can I invest through the stock market buying stock of a Colombian Company in order to qualify for a M-6 visa?
Hi Harry, a visa agency told me that buying stock of a Colombian company on the stock market doesn’t qualify.
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Best Regards
We will be in Medellin in August and would love to meet in person to discuss retirement living there. How do we contact you?
Best way to contact is via the contact form on this site: https://medellinguru.com/contact/
COMMENT
Thank you for contributing very important information. I am very interested in investing there.
Hi, Jeff. Thank you for providing this valuable information. I have a question. I am interested in the M-10 Visa. Would you happen to know if any rules have changed in the last two weeks for the M-10 visa? I’m looking at purchasing in an apartment in Medellin. Thank you!
Hi Tony, no the rules haven’t changed to my knowledge, just the exchange rate from the time this article was published.
Also, FYI, unlike other blogs we try to keep articles on this Medellin Guru website up to date and make updates when things change. This investment visa article was already updated twice since initial publication, as seen in the editors notes at the end.
Hi Jeff, thanks for all the information provided in your article. I am interested in applying for the M business investor visa (category 6) but just to clarify, does one have to invest in an existing Colombian business or if I myself decided to set up a business in Colombia say for example a call center or a tourism business, would my investment into said business also qualify for the visa? Also are you expected to pay the investment amount needed to qualify all at once or over a period of time?
Hi Jennifer, the investment has to be made all at once. It can be in an existing business or your own business that you set up.
Hi Jeff, tha’ts perfect! Many thanks for your speedy response and for the information given!
Bueno tardes Jeff,
can you please help clarify this? When submitting documents online, naturally we would upload each document one by one (passport, stamps, then qualifying documents) but somebody said it should be all in ONE file ? Does it matter? On Windows, would have to scan each into one pdf file. on Mac, can open all into one preview window, and then Print all to pdf.
gracias
It can be multiple files and per the instructions “Please check carefully the order of documents and uploaded them one by one. Documents must be in PDF format and the combined size of all scanned or uploaded documents must not exceed 3 megabytes.”
Hi Jeff,
I’m looking into the M-6 investment visa for a friend of mine since it has the smallest of all the investment amounts required to get a Colombian visa. Do you happen to know if “participation” or “partnership” in the chosen invested-in company includes being able to do any type of paid work for said company?
For example, say someone invested in a travel/tour operator company specializing in foreign tourists. Would that investment/partnership in the tour company enable the M-6 visa holder to be an occasional tour-guide for the tour company they just invested in? And receive compensation for that activity? (not continuous salary, more like free-lance occasional)
And of course, if you are “partners” in a company, you could be legitimately receiving dividends or a profit share from said company, yes?
I know this is a bit of a twist and rather specialized question, so if not immediately clear from the way the laws are now written, I’ll pursue the answer via an immigration specialist.
Many thanks for all you do and the help you generously provide. Great blog!!
-Suzann
Hi Suzann, yes, my understanding is that a M business investor visa (category 6) can work for the company in which the visa holder is a partner or shareholder.
Hi Jeff,
Great information, thanks for sharing. This is the best explanation of visas I have seen. I’m presently in Ecuador, but would love to move to Colombia. I’m younger, without a pension. I was wondering about the investment visa, investing approximately $26k USD. Would you happen to know what type of businesses you would be investing in. Can you buy Stocks in a company, like you would invest in the stock market in the USA, or other markets? I’m curious how that works, as it appears the best option for me. Thanks for any guidance.
Hi Ken, thanks. My understanding is that Colombia wants you to invest in a company not in shares in the stock market of a public company.
Jeff i am thinking about the M6 investment visa. But my question is i have a wife and 2 year old son. Do i require to invest per person or do family members fall under my sole investment visa?
Hi Antoine, there are beneficiary visas available for children less than age 25 and also spouses for anyone with a M or R visa. So, you don’t have to invest per person.
Hey Jeff, thanks for the information in the article, much appreciated.
Would just like to clarify something regarding the investment visa.
Regarding the M visa (specifically, I’m interested in the M-6 and/or M-10 investment visas), what are the requisites for extension after the 3 year period is up? I read before that you cannot be away from Colombia for more than 6 months,otherwise your M Visa will be cancelled, does this still apply under the new jurisdiction recently introduced? On the other hand I would assume that you would need to prove that your investment is still ongoing after 3 years and that it satisfies the amounts required as published above, in order for you to renew?
Also, does this mean that one can be in Colombia for a day, leave, then return 6 months later, leave again etc, to satisfy the requirement? Or does it mean that one needs to physically be in Colombia for 6 months within the year (183 days in Colombia) and do so for 3 consecutive years in order to be able to renew the M visa after 3 years? After 5 years in total under the M Visa (2 years after renewal), you can apply for the R Visa, right?
Thanks in advance.
H Nick, yes, you lose validity of an M visa if you are more than 180 consecutive days outside of Colombia without entering Colombia.
As far as I know you only need to come to Colombia for a day so you don’t lose the visa. But I would confirm that with a visa agency. Also to renew I understand you need to prove your investment again. And yes, after 5 years with a M visa you can apply for a R visa.
Thanks Jeff, it’d be great news if one could literally be in Colombia for just a day every half year in order to continue holding their M Visa for 5 years before qualifying for the R Visa. This makes the M-6 and/or M-10 visas really valuable as they offer 3 years stay + a not so difficult path to the R Visa assuming you can get the renewal.
Would very much appreciate a confirmation though regarding the 1 day per half year idea. Thanks in advance.
I was thinking one of the two between M-6 and M-10, do you have any opinion on this as to which is the better option? The M-6 might be easier with it’s lower required investment value but the M-10 isn’t bad either given investment in Colombian real estate can also be sound in terms of earnings potential. Any thoughts?
Also, another quick question, what are the requisites in order for one to renew the R Visa? Just not be away from Colombia for 2 consecutive years? Or are there other specific requirements? Again, much appreciated Jeff, your input is highly valued by all of us here.
Those are pretty detailed questions, so I recommend talking to one of the visa agencies listed in the article.
Sure, thanks Jeff.
Good Afternoon Jeff,
I am an ESL Accent Reduction Specialist and have worked with the Colombian ESL industry since August of 2011. I left Colombia in March of 2014 and just recently returned on a Pensionado visa in June to settle permanently in Bogotá. I want start my own sole proprietorship in January. What new visa classification would that be with the overhaul of previous system/categories before December 15, 2017?
Thanking You in Advance,
Devaunltd
P.S. I always enjoyed your articles when you were with your previous employer!. . It’s nice to see you in your new home. . .Felicitaciones!!
Hi Philip, if you have a pensionado visa my understanding is that technically are are not able to work. So, I recommend talking to a visa agency to find out what your options are.
Jeff – excellent updates and following up. In Colombia now but decided to wait until the newer 3 year visa become available. Save time and money later. Will try consulate method and report back. You have many excellent and timely articles which are further enhanced by reader feedback, especially their experiences. Is there a way to “Notify of follow up comments” without having to post something? Feliz Navidad!
Thank you for this very informative report on investment visas. It will soon be applicable to me since I intend to purchase an apartment in Medellin in 2018. I will first be going for three weeks in February to explore the real estate market, then (unless I find something irresistible during that first trip), I plan on going back for several months in May. I have two questions:
1) what is the difference between using a Visa Agency and using a Law Firm to assist in Immigration processing ? Is there a big difference in cost ? Is there an advantage of using a Law Firm ?
2) If I understand correctly, to apply for a real estate Investment Visa you first have to have completed a purchase to get required documentation. But, I seem to understand that one cannot open a bank account without a cedula, which implies already having an Investment Visa, and thus transfer funds to make a real estate purchase !? So, I assume that I first enter on a tourist visa to eventually buy an apartment, but, how do I get funds transferred from my foreign bank to a Colombian bank to make that purchase, and qualify to apply afterwards for my Investments R Visa ?? Could you walk your readers through on how to proceed ?
Thanks again for a wonderful and informative job.
Gilles
Hi Gilles, thanks. The visa process is relatively straightforward in Colombia and visa agencies normally process more visas than law firms, so they have more experience. The law firms typically will be somewhat more expensive. However, most expats I have talked to that buy property for an investment visa tend to use law firms for visas.
To buy property you can open a brokerage account with https://www.alianza.com.co/ without a cedula. This is how many expats bring money into the country to buy property and Alianza Valores is experienced with this. We mentioned them in this article about Exchanging Money, Receiving & Transferring Money in Colombia towards the end for transferring large amounts of money for a property purchase – https://medellinguru.com/exchanging-money/
Hope this helps and we plan to have some more articles about the real estate market – buying and renting properties.
Hi Jeff can you tell me if any resources for wheelchair users? I am a paraplegic considering living in Medellin
Hi Kevin, there are many buildings and malls in the city with ramps and elevators for handicapped. And the metro has handicap access including elevators in many stations or stair lift devices on the stairs for wheelchairs.
Hello Jeff, you forgot to mention that malls and museums often have wheelchairs on loan for free.
I just discovered that as I have an elderly brother visiting who can barely walk. I took him to the Santa Fé mall in taxi, and there I went to the client service booth where, upon identification (passport or cedula) they provide a wheel chair for the time you need. At the end of the visit I wheel chaired my brother to the taxi stand where he could sit down and wait for me while I returned the wheel chair. We plan on going to the a Museum of Antioquia tomorrow, and I see on their web site that they also loan wheel chairs to visitors.
Thanks Jeff. Well, as an update, barely more than four months after your reply, I have just closed the deal on the purchase of an apartment in Lalinde, in El Poblado. I have indeed transferred my funds via Alianza. But just a word of warning to Canadians and Europeans, only US dollars can be transferred to Colombia. That means that one has to first transfer funds to the US bank account of Alianza (to New York for Canadians, or to London for Europeans), then those US funds get transferred in Colombian pesos in your Medellín Alianza account. So this exercise represents having to go through exchange rates twice, with an impact on the value of your funds each time (twice), plus there is a commission of 4 to 6% (depending on the amount transferred) which Alianza will take when putting the pesos into your account. So one has to look carefully at exchange rates when deciding to transfer $C or € to Medellín related to a Promise of Purchase signed which will leave you little flexibility if the funds are needed rapidly. So it’s best to take time to transfer funds when the exchange rates are favourable, rather than deal with this at the end of a purchase process when you will have to accept the existing exchange rates to sign a deal quickly.
Hi Jeff ~ Thank you for this information. A question regarding M10 purchase of property visa: does this need to be done at the same time as the purchase? Or can I use the purchase of my property in 2016 for this visa?
Sorry. To butt in on this. But you don’t need alianza to move money here and buy property, you can easily open an account with bancolombia with your passport, once you have done that you can proceed to wire money to your account you will probably get a better rate than alianza brokerage account. I’m sure alianza is paying good money to this website for the publicity.
Im just providing a non bias oponion and factual advice.
Medellin Guru absolutely does not accept payments from any company for being included in comments on this website or included in an article.
Also, to bring in money to buy property for an investment visa you need to bring it into the country correctly with a form F4 and Certificate of foreign investment issued by the Banco de la República. See: https://medellinguru.com/investment-visa/
Regarding our advertising or sponsorship policy – “Every company, place, restaurant, tourist spot, transportation company or attraction covered on this site has been personally visited or used by me or one of the other writers on this site or guest writers. And we pay our own way. Unlike many other websites, we only feature companies and places we use and/or are frequented by other expats – not ones that have paid us for advertising or paid for us to write a sponsored article.” See – https://medellinguru.com/about/
That is not correct. Bancolombia will not open an account with a passport. I tried that a few years ago, and I even had help from a Colombian friend who got me in contact with his friend who is a Bancolombia branch manager, and she couldn’t do it for me. You will need a cedula or a NIT.
This is NOT correct! Last weekend November 6th 2020 I was in Medellin and went to several banks Bancolombia, Davivienda and BBVA. All would not allow me to open a foreign account using my US passport. I special visa/ ID and or document is required. Not sure exactly what yet. Figuring it out now with the help of this site and online research. Alianza seems to be the solution.
Thanks Jeff, looks pretty straight forward.
Cheers,
Good to know when I renew my TP-7 visa next year the new investment visa will be good for 3 years. Thanks!
Did I read this correctly I have to renew my M Visa -10 EVERY year not 3 years?
I will be buying a condo in Medellin for 100,000 USD to obtain this Visa someone please help
Thanks for the visa updates. I was looking for current information about the new Colombia investment visa and your site is the only one that has current information. And nice that this will now be a 3 year visa instead of 1 year.