Since the 15th of December 2017, the Colombian Ministry of Foreign Affairs has changed its visa system. Where there once were almost 20 different types, there now only exist 3 different visas:
1.Type V: A visa for New Visitors.
An investment in Colombian property gives you the opportunity to apply for a residency permit.
2.Type R: A visa for Residents.
3.Type M: A visa for Migrants.
In one of our previous articles, ‘How to Buy Property in Colombia: The Legal Process’, we briefly mentioned that there is a possibility of a residency permit when you decide to buy property in Colombia. Depending on the amount of money you invest in the property, you can apply for the Resident (R) or Migrant (M) visa. In this article we explain to you exactly what the requirements for both visas are so you can determine whether you are eligible or not.
What Are the Requirements for Obtaining a Resident Visa in Colombia?
If you want to buy property in Colombia and obtain a visa, you can apply for an R-Visa if you meet the following requirements:
You’ve invested in Colombia, an amount equal to more than 650 times the Colombian minimum wage. As of 2018, the minimum wage is $737,717 COP per month.
650 x 737,717 COP = 479,516,050 COP ($171,168 USD)
An R-Visa is valid for 5 years and it can be renewed when the 5 years are over. Be aware of the fact that when you leave Colombia for more than 2 years it will become invalid automatically.
What Are the Requirements for Obtaining a Migrant Visa in Colombia?
An alternative to the R-Visa is the M-Visa. For the M-Visa, there are a variety of subcategories that you can apply for and each have their own requirements. One of the M-Visa subcategories is for foreign investors and the financial investment required is less than for the R-Visa however it only remains valid for 3 years and it becomes invalid if you leave Colombia for more than 6 months.
The investment requirements for the M-Visa are as follows:
You’ve invested in a property or business in Colombia that is worth more than 350 times the current minimum monthly salary.
350 x 737,717 COP = 258,200,950 (COP) ($92,167 USD)
Examples of the other subcategories of the M-Visa are:
Marriage Visa
Student Visa
Retirement Visa
How to Apply for a Visa in Colombia?
You can choose to apply for a Colombian visa online or in person.
If you meet the requirements of one of the above-mentioned types of visa you can decide to apply either in person or online.
When you want to apply in person, you can do this for both resident and migrant visas at every Colombian consulate in the world. When you go to the consulate be sure to bring with you all your documentation and photocopies of the files that are required to obtain the visa that you want to apply for.
Where Can I Find More Information About Visas in Colombia?
Given the favorable conditions in the country and the region as well as the economic growth, Biz Latin Hub through its company Colombian Business Services offers the experience and support necessary for investors to have a successful market entry in Colombia. Feel free to contact us now.
Watch our video below to find out more about the visa services that we offer!
As informações fornecidas aqui não devem ser interpretadas como orientação ou aconselhamento formal. Consulte um profissional para sua situação específica. As informações fornecidas são apenas para fins informativos e podem não abranger todas as leis, padrões e práticas recomendadas pertinentes. O cenário regulatório está em constante evolução; as informações mencionadas podem estar desatualizadas e/ou podem sofrer alterações. As interpretações apresentadas não são oficiais. Algumas seções baseiam-se nas interpretações ou pontos de vista de autoridades relevantes, mas não podemos garantir que essas perspectivas serão apoiadas em todos os ambientes profissionais.
La información que aquí se ofrece no debe interpretarse como orientación o asesoramiento formal. Por favor, consulte a un profesional para su situación específica. La información proporcionada tiene únicamente fines informativos y es posible que no recoja todas las leyes, normas y mejores prácticas pertinentes. El panorama normativo está en continua evolución; la información mencionada puede estar obsoleta y/o sufrir cambios. Las interpretaciones presentadas no son oficiales. Algunas secciones se basan en las interpretaciones o puntos de vista de las autoridades pertinentes, pero no podemos garantizar que estas perspectivas se respalden en todos los entornos profesionales.
The information provided here within should not be construed as formal guidance or advice. Please consult a professional for your specific situation. Information provided is for informative purposes only and may not capture all pertinent laws, standards, and best practices. The regulatory landscape is continually evolving; information mentioned may be outdated and/or could undergo changes. The interpretations presented are not official. Some sections are based on the interpretations or views of relevant authorities, but we cannot ensure that these perspectives will be supported in all professional settings.
Legal Team Colombia
Legal Team Colombia is the Biz Latin Hub leading experts on doing business in Colombia The Team writes on the news, doing business, law, and changing regulations. The team are experts in corporate law, Administrative law, Employment law, Immigration law and legal advisory services. Read more about them here. You can contact Legal Team Colombia via our "contact us page".
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