How To Get a Colombian Investment Visa

Are you planning on purchasing a property in Colombia? As of 2023, if that property is more than 350 minimum wage, you're eligible for a Colombian Migrant (Type M) Investors Visa. The Colombian Investors Visa is meant for those who have invested money into the Colombian Economy. 

In this blog, we will outline updates and changes to the Colombian Investors Visa, the benefits of the visa, and tips from a Colombian Immigration Lawyer on how an applicant can be successful. We will also outline the steps you must take before, during, and after your investment to qualify for the visa. 

If you’re interested in a Business Visa, or investing in a Colombian Company, you can read our blog on the topic here. 

The real estate or investors visa will allow foreigners to stay in Colombia for 1-3 years and allow them to apply for a resident visa after holding the migrant visa for a set period, as long as they don't stay outside of Colombia for more than 6 months at a time and re-apply for their migrant visa when necessary. 

Who Is Eligible For the Colombian Investors Visa:

A few cases exist where someone can qualify for a Colombian Investor Visa or, as it's sometimes known to foreigners, a real estate visa. 

Purchasing Property: You are eligible if you have purchased a property worth more than 350 minimum wages, or about $120,000 USD, as of 2024.

Investing In A Colombian Company or Starting Your Own: You are eligible if you have invested 160 minimum wages or approximately $35,000 USD as of 2024. 

Multiple Investments:  You are eligible if you have purchased properties and/or shares in a Colombian Company and/or started and invested in Colombian companies in excess of $170,000 USD or 650 minimum wage. 

This blog focuses on applying for a Colombian Visa by purchasing a property. To learn more about business investment options, you can go here. 

Recent Changes to The Colombian Real Estate Visa: 

Before October 2022, an individual could invest 650 minimum wages, or about $170,000 USD, and be eligible to obtain a permanent residency visa in Colombia. 

However, this visa was downgraded to a Migrant (Type M) Visa. Under the new law, Investor Visa holders are eligible to apply for a Resident Visa after holding a Migrant Visa for 5 years.

The Steps To Apply For a Colombian Investment Visa

Step 1: Choose The Property 

The first step to obtaining a Colombian Investment Visa is to find a property you'd like to purchase. As a foreigner, it is common to be faced with inflated prices and real estate scams, and it is our recommendation to work with a trusted contact in Colombia or a law firm to help you through this process. 

Step 2: Purchase The Property With Registered Funds

One of the biggest mistakes foreigners make while investing in property in Colombia is not registering their investment. To register your investment in Colombia, you must send legalization forms to Banco de la República to tell the Colombian government what the investment is for. 

After doing this, you can purchase the property with the registered funds. If you have all of the required documents, this process typically takes 2-3 weeks, in our experience. 

Step 3: Apply For Your Visa 

Once you have purchased the property, you can apply for the Colombian Investment Visa. 

Step 4: Respond To Any Requests For Information 

Once you have submitted your application, you'll likely receive a request for additional documentation. You'll need to respond to those requests in a timely manner. 

Step 5: Obtain Your Visa 

After you've responded to all of the Caniclleria's requests, you should receive a response to your application within 30 calendar days of your initial application. 

Documents Required For the Colombian Investment Visa: 

The following documents will be needed to apply for the Colombian Investment Visa. 

• Copy of your passport 
• Last entry stamp (if, by the time of the application, the foreigner is still in the country) 
• Certificate of Tradition and Freedom of the property whose ownership is solely in the name of the foreigner
• Communication issued by the Department of International Exchange of the "Banco de la República" stating the registration of the foreign direct investment;
• Bank statements of the last three months prior to the visa application
• International Health Insurance with coverage in Colombia 
  

*All documents issued in a language different than Spanish must include an official translation

It is important to note that these are just the basic requirements to submit your initial application. At Colombian Visa Services, we have experienced that the Cancilleria is almost always for additional information. 

Application Process for the Colombia Investment Visa

Required Documents

Before applying for the Colombia Investment Visa, you must have all the necessary documents and be prepared to submit additional documents if asked. 

It is important to note that the certificate of investment must be issued by a legal entity in Colombia, such as a bank or government agency. The investment must also meet specific minimum requirements, which can vary depending on the type of investment.

Additionally, a certified translator must translate all official documents into Spanish.

Online Application Steps

The application process for the Colombia Investment Visa is primarily online. Applicants must provide basic personal information, submit their required investment(s) documentation, and pay the application fee. Once all necessary documents are obtained, the application can be completed through the Colombian Ministry of Foreign Affairs website.

The application fee for the Colombia Investment Visa is currently $435 USD. This fee is non-refundable, even if the visa application is denied.

After submitting the online application, applicants will receive a confirmation email with a reference number. This number should be kept for future reference.

Visa Review and Approval

Once the visa application has been processed, the applicant may receive a request for additional documentation from the Ministry of Foreign Affairs.  

The applicant may be asked about their investment and business plan details. The consulate will verify the information provided and either approve or deny the visa request.

The Cancillería has 30 calendar days to give the applicant a decision on their visa. 

The consulate will issue an electronic visa if the visa application is approved. This visa will allow the applicant to enter Colombia and stay there until their visa expires. The visa is typically valid for up to 1-3 years and can be renewed.

Overall, the Colombia Investment Visa is a valuable tool for foreign investors looking to establish a presence in Colombia. With the right documents and preparation, the application process can be completed smoothly and efficiently.

Renewing an Investment Visa: 

It's important to note that applicants must resubmit documentation to prove their investment is in good standing when applying for an Investment Visa renewal. 

For example, if the applicant started a business in Colombia, they must provide proper documentation illustrating that the company is still in good standing. 

Financial Requirements for the Colombia Investment Visa

Colombia is a country full of opportunity, and the investment visa is a great way to take advantage of it. The visa allows investors to live and work in Colombia while investing in the country's economy. However, it is important to understand the financial requirements for obtaining the visa.

Minimum Investment Amount

The minimum investment amount required for the Colombia Investment Visa is approximately $35,000 USD. This investment can be made in a new business or an existing business. 

This investment can be a great opportunity for investors to diversify their portfolios and gain exposure to a growing economy.

Investors should carefully consider their investment options and seek professional advice to ensure they are making a sound investment decision. Colombia has many investment opportunities, including real estate, agriculture, and technology.

Currency Exchange and Transfer Regulations

It is important to note that currency exchange and transfer regulations exist in Colombia. This means that investors must follow strict guidelines when transferring money to and from the country. 

It is advised to seek legal advice from a professional when navigating these regulations.

Colombia's currency, the Colombian peso, is subject to fluctuations in the global market. Investors should consider the potential impact of currency exchange rates on their investment and take steps to mitigate this risk.

Benefits of Obtaining a Colombia Investment Visa

Colombia is a country that has seen significant growth in recent years, making it an attractive destination for foreign investors looking to expand their business horizons. One of the most effective ways to do this is by obtaining a Colombia Investment Visa. This visa provides various benefits to help investors establish a long-term business presence in the country. Let's explore some of these benefits in more detail.

Residency and Citizenship Opportunities

One of the most significant benefits of obtaining a Colombia Investment Visa is eligibility for long-term residency or citizenship. This opens up new business and investment opportunities and facilitates connectivity with a new culture and community. 

Colombia has a rich history and culture, and living there can be a transformative experience. By obtaining a Colombia Investment Visa, investors can fully immerse themselves in the culture and become a part of the community.

Additionally, Colombia is known for its friendly people and welcoming attitude toward foreigners. The country's diverse population is reflected in its culture, food, and traditions, making it an exciting place to live and work. 

This makes it an ideal location for those looking to establish a new home away from home.

Recent Changes To The Colombian Investment Visa

On October 21, 2022, Colombia started enforcing new updates to visa laws. Included in these updates was a change Instant Investor Residency Visa. 

Previously, individuals who invested more than 650 in minimum wages were eligible for a Resident Visa. However, now applicants are only eligible to receive a migrant visa. 

To Obtain Residency and Then Citizenship By Investment, A Foreigner Must Do The Following: 

• Obtain a Type M Migrant Investor Visa and hold this visa for at least five years. 
• After five years, The foreigner will then apply for a resident visa. 
• After five additional years of holding a resident visa, the foreigner can apply for citizenship. 

Note: If either visa expires at any time during the ten years, the applicant must restart this process. 

Conclusion

Overall, the Colombia Investment Visa is an excellent way for foreign investors to establish a long-term business presence in Colombia. Applying for this visa involves several steps, including fulfilling eligibility criteria, providing necessary documents, and complying with financial regulations. 

However, the benefits of obtaining this visa, such as access to residency and citizenship opportunities, long-term stay in Colombia, and business and employment prospects, make it a worthwhile investment for those looking to explore new business horizons in Colombia.