Foreigners who make an investment in Colombia are eligible for Colombia investment visas. With recent visa modifications, we present a 2021 update. And once you’ve made an investment in Colombia, these visas are extremely simple to obtain. Colombia updated its visa restrictions on December 15, 2017, and they are now in effect. Previously, Colombia had two types of investment visas: the TP-7, which was a temporary (TP) visa, and the RE visa, which required a bigger investment.
The TP-7 investor visa was reclassified as a migrant (M) visa in category 6 (M-6) for business investment or category 10 (M-10) for real estate investment under the revised immigration rules. The resident investor visa (RE) was renamed the resident visa (R). The processing fee for the M-6 and M-10 migrant visas is $282 USD. The cost of the R resident visa is $443 USD.
- Partner-Entrepreneur Business Investment Visa: This form of migrant visa (tipo M) allows you to legally establish yourself in Colombia by investing at least 100 current legal minimum wages in a firm as a partner or owner. This equates to COP 90,8 million in investment for 2021. You’d be investing around $24,000 USD at a 3850:1 exchange rate. To keep your type M visa, you must stay in Colombia for at least 6 months each year.
- Real Estate Property Investment Visa: To receive this type M visa, you must invest at least 350 legal monthly minimum salary in real estate. That equals 350 x 908,726 = COP 317,984,100 in 2021. This equates to $82,593 USD @ COP 3850:1 USD. Keep in mind that the USD amount is liable to vary due to currency fluctuations, and the COP amount will rise in 2022 as the S.M.M.L.V. rises. Foreigners might consider buying real estate in Colombia as one of their finest investment possibilities, but more on that later.
- Residency Visa for Large Investments in Businesses or Real Estate: You can obtain permanent residency status by making large investments. You must invest at least 650 times minimum salary, which, using the same calculations and currency rate as the previous example, equates to around COP 591 millones ($153K USD). You should not leave the nation for more than two years if you want to keep your position as a legal permanent resident. Do you wish to put an end to your visa problems for good? Purchase a property worth more than COP 591 million and follow the directions in this article to the letter.
- A photocopy of the first page of your valid passport, which contains your personal information.
- Latest stamp of Colombian admission or exit.
- A photocopy of your prior Colombian visa is required if you have one.
- For online application, a passport-style face photo with a white background, 3 cm width X 4 cm height, and a maximum size of 300 kb jpg file is required.
- Health insurance policy certificate demonstrating that you are covered by an overseas health insurance policy. Because the duration of your visa is reliant on the validity of your foreign health insurance, this policy should be valid for at least a year. This health insurance policy must provide coverage of at least $100,000 USD for a resident investor visa and $60,000 USD for a migrant investor visa.