Colombia Investment Visa | A Complete Guide

Overview:

Colombia offers two investment visa application routes for foreign investors: the M-6 Business Owner Visa and the M-10 Property Investment Visa:

1. M-6 Business Owner Visa: If you invest in establishing or acquiring a business in Colombia, with an investment amount exceeding 100 times the local monthly minimum wage, you can obtain a Colombian M-6 Investment Visa with a duration of 1 to 3 years.

In 2024, the minimum investment requirement for the M-6 visa is 130 million Colombian pesos, approximately $33,000.

2. M-10 Property Visa: Similarly, if you purchase property in Colombia with an investment amount exceeding 350 times the local monthly minimum wage, you can obtain a Colombian Property Visa with a duration of 1 to 3 years.

The minimum required amount for this visa in 2024 is 455 million Colombian pesos, approximately $113,000.

Previously, whether through real estate or business investment, if your investment amount was substantial, you could directly obtain a Colombian type-R permanent residence visa. However, since 2022, Colombia has gradually phased out various type-R permanent residence visas in the investment sector.

The current policy is that if your investment amount is very large, such as reaching 650 times the local monthly minimum wage, about 845 million Colombian pesos, or $210,000, you can initially apply for a five-year investment visa directly. However, like ordinary holders of 1 to 3-year investment visas, you will still need to reside in Colombia for five years before applying for permanent residence.

In addition to the financial requirements, applicants for both investment visas must also meet basic conditions such as being in good health, having no criminal record, and proving sufficient financial resources to support their entire family living in Colombia.

Both the M-6 and M-10 visas require the holder to actually reside in Colombia. If you obtain an investment visa but spend more than 180 days outside of Colombia within a year, your visa may be revoked.

Application Process:

The application process for Colombia’s investment visa is very simple:

You first need to open a bank account in Colombia, transfer the funds, and complete the investment. After preparing all the necessary documents, you can choose to upload the documents online and submit your visa application, or make an appointment to submit your visa application in person at the nearest Colombian consulate or the Colombian Ministry of the Interior in Bogotá.

Required documents for this program include:

• Applicant’s identity documents: Passport, a 3cm x 4cm passport-sized photo, birth certificate, and proof of relationship such as a marriage certificate for the primary and secondary applicants.

• Previous Colombian visa copies: If any of the primary or secondary applicants have previously held a Colombian visa, a copy of the previous Colombian visa must be provided.

• Application form.

• Proof of investment: In addition to the purchase or investment contract, you also need to collect proof of investment issued by an official Colombian department.

• Proof of health insurance: You need to purchase health insurance for each applicant that covers the duration of the visa and is applicable in Colombia.

• Criminal record certificate: All adult applicants must provide a criminal record certificate issued within the past five years.

All documents from outside Colombia must be notarized, and non-Spanish documents must be translated into Spanish.

Generally, if there are no requests for additional documents, the processing time for a Colombian visa is around 30 days. Each applicant must pay a visa fee of $52, but you may also face delays due to government bureaucracy.

After the visa is issued, you need to pay a second visa fee of around $271 per person, after which you can enter Colombia. Within a month of entering, you must apply for a residency card.

Dependents:

For the Colombian investment visa, the primary applicant’s spouse, financially dependent children, and parents can all obtain a visa as secondary applicants.

Visa Validity:

The Colombian type-R visa is a permanent residence visa, but it needs to be renewed every 5 years.

Colombia type-M visas are generally valid for 1 to 3 years, depending on the specific visa, and can be renewed continuously according to the visa requirements.

It is important to note that the minimum income level in Colombia increases annually. For example, if you purchased a property for $113,000 to obtain an M-10 visa, after 3 years when you reapply, the M-10 standard might have increased to $120,000. In this case, you would need to ensure that you own property valued at no less than $120,000 to renew your M-10 visa.

Additionally, a type-M visa has a minimum residency requirement: the applicant cannot spend more than 180 days outside Colombia in a single year.

Type-M visa holders can apply for permanent residence in Colombia after legally residing for 5 years and meeting other conditions.

Foreigners who have legally resided in Colombia for 10 years, meet the requirements for permanent residency, have no criminal record, and have a basic grasp of the Spanish language, among other conditions, can apply for citizenship.

Frequently Asked Questions:

Can an investment visa allow me to work in Colombia?

Yes, investment visa holders can freely study, work, and live in Colombia just like citizens.

Useful Links:

Colombia Investment Visa: https://www.cancilleria.gov.co/en/resident-investors-visa