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Are you considering investing in Colombia and seeking a pathway to residency or citizenship? Colombia doesn't necessarily offer a "Golden Visa program" but does offer an attractive opportunity for foreign investors to obtain a resident visa and enjoy numerous benefits. In this comprehensive guide, we will explore the ins and outs of the "Golden Visa in Colombia", its alternatives, and how to navigate the application process.
Key Takeaways
- Colombias Investment Visas offers a 1-3 visa for foreign investors with minimum investment ranging from $25,000 to $100,000.
- After five years of continuous Migrant visas, foreigners are eligible for a Resident visa.
- After five years of holding the resident visa, foreigners are eligible for dual citizenship.
Understanding the Colombian Golden Visa
Colombia has become an increasingly attractive destination for foreign investment thanks to its stable economy, beautiful landscapes, and welcoming culture. The Colombia investment visa is designed to incentivize direct foreign investment, particularly in real estate, providing investors with the opportunity to obtain a resident visa in Colombia by making a qualified investment in the country.
While not necessarily a "the Colombian Golden Visa" Colombia does provide a path to citizenship through investment through their investment visa options. To qualify for a Colombian Migrant Visa through an investment, investors can choose between various options, such as initiating a new business, investing in an existing business, or making a real estate investment. The minimum investment amount for the Colombian migrant visa varies depending on the type of investment, generally ranging from approximately $25,000 to $100,000.
Alternatives to a "Golden Visa" in Colombia
For investors who may not qualify for investment visa options, Colombia offers a range of other visa options, including:
Each visa comes with its own set of eligibility criteria and requirements, depending on the country and the specific option chosen.
Investment Visas
Colombia offers two main types of investment visas: business visas and investor or real estate visas. The Type M Real Estate Investment visas are intended for foreign nationals who have made a foreign direct investment or acquired property of their own and will maintain the investment for the duration of their visa.
On the other hand, the Colombia business visa is designed for foreigners who wish to invest in an existing Colombian company or start their own.
Real Estate Visas:
The minimum investment amount necessary to qualify for a Colombian investment visa is 350 current legal monthly minimum wages which is around $85,000 to $100,000 USD, depending on exchange rates.
To apply for a real estate investment visa, investors must complete the electronic visa application form and pay the application fee. Moreover, foreigners applying for a property investment visa must possess the deed of the property and proof of ownership.
Business Visas:
The minimum investment amount to qualify for a Colombian Business visa is 100 current legal monthly minimum wages (116,000,000.00 COP), which is around $25,000 to $30,000 USD, depending on exchange rates.
To apply for a business visa, investors must complete the online visa application form and pay the application fees. Additionally, foreigners must provide documentation for the business and proof of investment.
For either visa type, the Foreign Investment Registration is a requirement for the visa application, as it confirms that the applicant has made a foreign capital investment in Colombian territory.
The Application Process for Colombian Investment Visas
The first step to applying for a Colombian investment visa is to complete the online application form and submit the necessary documents, along with a non-refundable application fee. The required documents for all investment visa categories in Colombia include a valid passport, proof of investment, and health insurance coverage for the entire duration of your stay in Colombia.
It is highly recommended to enlist the services of an immigration attorney before investing any money in Colombia, and at the very least for the application process, as they can guide you through the appropriate steps to take.
You will need to go through the following steps to obtain a Colombian investment or business visa:
- Invest and obtain communication issued by the Department of International Exchange of the "Banco de la República" stating the registration of the foreign direct investment.
- Use the online application to apply for the visa.
- Answer any additional questions the government entity has about the application
- Once completed, the investor must obtain a foreign identification card (Cédula de Extranjera).
Business Investment Visa Requirements
For those interested in obtaining a business investment visa in Colombia, a comprehensive business plan is required, detailing investment goals, financial projections, and other pertinent information.
Real Estate Investment Visa Requirements
Those interested in obtaining a real estate investment visa must show proof of property investment and ownership.
Real estate investment visas can be an attractive option for those looking to establish a home in Colombia while benefiting from the country’s investment incentives. By meeting the investment requirements and navigating the application process, investors can capitalize on the opportunities presented by the Colombian real estate market.
Online Application and Fees
The online application process for a Colombia investment visa online involves completing an online application form and providing the requisite documents. There are fees associated with a Colombian investment visa, which include the visa application fee and the visa processing fee.
Benefits of Obtaining a Colombian Investment Visa
Obtaining a Colombian investment visa comes with a variety of advantages for investors. These include access to health care, social services, and the ability to stay in the country for more than 180 days per year, making investing in Colombia more appealing to foreign investors and helping them maximize their investments.
A Colombian investment visa can provide a pathway to a resident visa, allowing investors to:
- Live and work in the country without restrictions
- Establish a long-term presence in Colombia
- Take advantage of the country’s numerous opportunities for growth and development.
Path to a Resident Visa
A Colombian investment visa can serve as a stepping stone towards obtaining a resident visa and, eventually, permanent residency there. By maintaining the investment for the required duration and fulfilling the necessary residency requirements, investors can apply for permanent residency and enjoy the long-term benefits of living and working in Colombia.
Remember, the specific prerequisites for a resident visa can vary based on the type and duration of the investment. Consulting with an immigration lawyer or visa agency can help ensure that you understand and meet all the necessary criteria for moving forward on the path to Colombian residency.
Access to Social Services
Holders of a Colombian investment visa are entitled to access social services such as healthcare, education, and social security benefits. These services can be particularly advantageous for investors with families or long-term plans in Colombia.
Access to top-notch healthcare and education can significantly improve the quality of life for investors and their families, making Colombia an even more attractive destination for foreign investment. These social services, combined with the residency and tax benefits associated with a Colombian investment visa, create a compelling package for investors looking to establish a presence in Colombia.
Comparing Colombian "Golden Visas" with Other Countries
The Colombian Golden Visa program is promising for foreign investors, but it’s worth considering how it stacks up against similar programs in other Latin American countries. For instance, Brazil and Costa Rica offer investment visas with their own requirements and benefits.
In Brazil, the required investment for a real estate investment visa is 1 million Brazilian reais (approximately $186,000 USD), which is notably higher than the minimum investment requirement for a Colombian real estate investment visa. On the other hand, Costa Rica requires investors to provide the necessary legal certifications and evidence of investment to obtain an investor visa.
Comparing these programs can provide valuable insights for investors seeking the best fit for their investment goals and needs. Each country offers unique opportunities and challenges, making it essential to carefully weigh the advantages and disadvantages of each program before making a decision.
Family Members and the Colombian Investor Visas
Investors who obtain a visa for business or real estate investment in Colombia have the option to get visas for their immediate family. This includes spouses and children under the age of 25. This allows investors to provide a stable and secure environment for their families while taking advantage of the numerous opportunities available in Colombia.
Investor visa holders in Colombia can also have beneficiaries who are members of their household and economically dependent on them. This ensures that the investor’s family members can enjoy the same benefits and access to social services as the primary visa holder, making the Colombian investment visa an attractive option for those looking to invest in the country and establish a long-term presence.
Maintaining and Renewing Your Colombian Visa
To preserve the validity of your Colombian investment visa, adherence to the visa requirements and maintaining an active investment is paramount. Under the Migrant visa, you'll need to be in the country once every six months, and under the resident visa, you'll need to be in the country once every two years.
You must also comply with Colombian laws and regulations, including timely filing taxes. Additionally, you'll need to show that the investment is still active to maintain the investment visas. For the real estate investment, this means that you will still own the house, and for the business visa, the business is active and compliant.
The Path to Colombian Citizenship
For those interested in obtaining Colombian citizenship, the investment visa can serve as a pathway towards naturalization and even dual citizenship. By maintaining the investment for the required duration and fulfilling the necessary residency requirements, investors can apply for Colombian citizenship and enjoy the full range of benefits of being a Colombian national in about 10 years.
Summary
The Colombian Golden Visa or the investment visa options, offer a compelling opportunity for foreign investors to establish a long-term presence in the country and enjoy the numerous advantages of investing in Colombia. Through various investment options, access to residency, and social services, the Colombian investment visa is attractive for those seeking to maximize their investments and provide a stable environment for their families. By understanding the requirements and processes involved, investors can make an informed decision and take advantage of Colombia's unique opportunities.
Frequently Asked Questions
Does Colombia have a golden visa program?
Technically called Investment and Business Visas, Colombia offers a "Golden Visa" program that grants temporary residency status to investors for up to five years and puts them on a path to dual citizenship.
How can I get Colombian citizenship by investment?
To obtain Colombian citizenship by investment, you must reside in the country for 10 consecutive years and invest 350 times the Colombian monthly minimum wage in real estate or 100 times the Colombian monthly minimum wage in a Colombian business.
Additionally, applicants must prove knowledge of Colombian history, geography, and the constitution and pass a Spanish oral test.
What is the minimum investment amount required for a Colombian investment visa?
The minimum investment required for a Colombian investment visa varies but generally ranges between $35,000 and $120,000 USD.
Daniela Cordoba is a lawyer specializing in immigration and commercial law. Daniela Cordoba has helped individuals and businesses live and operate in Colombia for over a decade. She also has training in compliance with the respective accreditations to serve as Compliance Officer.
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