Requirements and Process for the Colombian Rentista Visa

The Rentista Visa is a visa offered by the Colombian government that allows foreign nationals with a fixed income to reside in the country for up to 2 years. 

This visa is ideal for those who wish to move to Colombia and don’t meet the criteria for a Pension Visa but rather have the means to support themselves financially. This blog will discuss the Rentista Visa in Colombia, including its requirements, application process, and benefits.

Through resolution 5477 on July 22, 2022, the Colombian government introduced new changes, including the demotion of the Rentista Visa from a Migrant (Type M) Visa to a Visitor (Type V) Visa. This demotion means that obtaining a Rentista Visa won't qualify the main holder to cumulate time towards residency but will still grant its holder a Cedula de Extranjería/Foreign ID. 

Who Qualifies For the Rentista Visa:

The Rentista Visa can be tricky to understand. Still, one way of looking at it is for individuals who receive more than 10 monthly Colombian Minimum wages from a recurring source that isn’t a job, pension, or social security fund . Examples of this can include: 

• 401k, IRA, or other Retirement Funds
• Rental Properties 
• Payments from the sale of a business or property. 
• Interest from Bank Accounts
• Settlement Payments 
• And more

Document Required for the Rentista Visa in Colombia

The Rentista Visa has certain requirements to be met before an applicant can be granted the visa. These requirements include:

1. Copy of your passport.

2. Last entry stamp (if, at the time of the application, the foreigner is still in the country).

3. The visa application letter declares the source of income, stating an average monthly income of 10 current legal monthly minimum wages (11,600,000.00 COP) that equals approximately $2,500.00 USD as of 2023.

*Note: This is after-tax income. 

4. Criminal or police record certificate issued by the country's authority where you have stayed during the last three (3) years.

5. International Health Insurance with coverage in Colombia

6. Provide certification issued by a public entity or private company, duly recognized by the respective Government, where the income paid in the name of the foreign applicant for the visa is specified

IMPORTANT: The criminal record certificate and the certificate of your fixed income will require an Apostille; Apostilles authenticate the seals and signatures of officials on public documents issued by a federal agency or certified by a foreign consul. An apostille certifies the document(s), so that the document can be recognized in foreign countries.

How To Apply For The Rentista Visa:

Step 1: Gather Required Documents: 

Prepare the list of documents mentioned above. 

Step 2: Complete the Online Application Form: 

Once all the required documents are gathered, applicants can complete the online application form. The form can be accessed through the Colombian government's website.

Step 3: Submit the Application:

After completing the application form, applicants must submit their application online. They will also need to upload the required documents in PDF format. 

Step 4: Wait for Approval:

 After submitting the application, applicants must wait for their application to be reviewed, the government can request additional documents as they see it fit so it is likely that during the processing time, the government entity will contact the applicant by email requesting additional documentation. 

Step 5: Obtain your Electronic Visa: 

Once the application is approved, the applicant will be notified by email of the approval and once the government fees are paid, the applicant will receive their electronic visa via email 

Benefits of the Rentista Visa

The Rentista Visa offers several benefits to foreign nationals who wish to reside in Colombia. 

Some of these benefits include:

Long-term residency:

The Rentista Visa allows foreign nationals to stay in Colombia for up to 2 years, making it an ideal choice for those who want to live in Colombia for an extended period.

No need to work or study:

Unlike other types of visas, the Rentista Visa does not require the holder to work or study in Colombia. The visa holder can pursue other interests like travel, language learning, or starting a business.

Access to healthcare:

The Rentista Visa requires the visa holder to have health insurance, ensuring that they have access to healthcare services while in Colombia.

Ease of travel:

With the Rentista Visa, the visa holder can leave and re-enter Colombia as many times as they wish during the validity of the visa.

Hiring an attorney for a migration process can be critical in ensuring the success of your application. Immigration laws can be complex and vary by country, making it difficult for non-experts to navigate the process. 

An attorney who specializes in immigration law can provide valuable guidance, ensuring that you have all the necessary documents and meet all the requirements for your specific visa category. Furthermore, having an attorney can give you peace of mind, knowing that a professional is handling your case and that you are less likely to encounter legal problems or delays. 

In conclusion, while it may be tempting to try to navigate the migration process on your own, hiring an attorney can ultimately save you time, money, and stress, making it a wise investment in your immigration journey.