In recent years, Colombia has become an increasingly popular destination for foreigners seeking to live, invest, or work remotely. Its appealing mix of warm climate, rich culture, and lower cost of living compared to North America and Europe makes it a top choice for expats. For those considering a move, Colombia offers several visa options that cater to different needs and lifestyles. Among the most popular are the Retirement Visa, Investment Visa, and the Digital Nomad Visa.
In this article, we’ll break down these three types of visas, explain their requirements, and help you determine which one might be the best fit for you.
Contents
1. The Retirement Visa (Pensionado Visa)Who is it for?
The Retirement Visa, or Pensionado Visa, is designed for foreign retirees who receive a steady income from pensions, retirement benefits, or social security. Colombia is a favorite among retirees due to its affordable healthcare, mild climate, and vibrant expat communities. Popular cities for retirees include Medellín, known for its “eternal spring” weather, and Cartagena, a coastal city with a laid-back lifestyle.
Key Requirements
To qualify for the Pensionado Visa, applicants must provide proof of a monthly income of at least three times the Colombian minimum wage, which is currently about COP 3,900,000 (roughly USD 1000). This income must come from a foreign pension or retirement benefit. Other requirements include:
- A pension certificate from the relevant pension authority.
- Bank statements showing the consistent deposit of pension funds.
- A valid passport with sufficient validity for the visa period.
Benefits of the Retirement Visa
- Low financial threshold: With a monthly income requirement of just USD 1000, this visa is accessible to many retirees.
- Long-term residency: The Retirement Visa is typically granted for up to three years, and it can be renewed indefinitely. After five years of continuous residency, retirees can apply for permanent residency.
- Affordable healthcare: Colombia’s healthcare system is ranked among the best in Latin America, with expats able to access quality medical care at a fraction of the cost they’d pay in the U.S. or Europe.
Best for:
The Retirement Visa is perfect for retirees looking for an affordable place to settle down while enjoying a high quality of life. With beautiful scenery, vibrant cities, and a strong expat network, Colombia is an attractive destination for those looking to make the most of their retirement years.
2. The Investment Visa (Migrant M-10 Visa)Who is it for?
The Investment Visa is aimed at individuals who wish to invest in Colombia, either by purchasing real estate or investing in a business. This visa is particularly appealing for entrepreneurs, real estate investors, and business owners who see Colombia as an opportunity for economic growth.
Key Requirements
The most common way to qualify for the Investment Visa is through real estate investment, which requires purchasing property worth at least COP 855,000,000 (around USD 200,000). Alternatively, you can invest in a Colombian company or business with the same financial threshold. Required documentation includes:
- Proof of the real estate purchase or business investment.
- A certificate from the Colombian Central Bank confirming the registration of your foreign investment.
Benefits of the Investment Visa
- Path to permanent residency: After five years of holding the Investment Visa, individuals are eligible to apply for permanent residency.
- Business-friendly environment: Colombia is one of Latin America’s fastest-growing economies, offering a wealth of opportunities for investors. Whether in real estate, tourism, or the tech industry, there are plenty of sectors where foreign investors can thrive.
- Equal property rights: Foreign investors enjoy the same legal protections as Colombian citizens when it comes to owning property or investing in businesses.
Best for:
The Investment Visa is ideal for entrepreneurs, real estate developers, or anyone looking to make a significant financial commitment in Colombia. Whether you want to start a business or take advantage of Colombia’s growing real estate market, this visa offers a direct pathway to residency while capitalizing on the country’s economic opportunities.
3. The Digital Nomad VisaWho is it for?
Launched in 2022, Colombia’s Digital Nomad Visa is designed to attract remote workers, freelancers, and entrepreneurs who earn their income from abroad but want to live in Colombia. As the global trend of remote work grows, Colombia has positioned itself as a top destination for digital nomads due to its low cost of living, good internet infrastructure, and thriving nomad communities.
Key Requirements
The key to qualifying for the Digital Nomad Visa is proving that your income is generated from outside Colombia. Applicants must demonstrate an income of at least USD 1000 per month and submit the following:
- A letter from your employer or proof of freelance work showing that you are employed or contracted remotely by a foreign entity.
- Health insurance valid for the duration of your stay in Colombia.
The visa is typically issued for up to two years, allowing for flexibility in how long you wish to remain in the country.
Benefits of the Digital Nomad Visa
- Work-life balance: Colombia offers digital nomads an affordable lifestyle, with many cities boasting excellent internet, coworking spaces, and international communities.
- Low financial requirements: With a modest monthly income requirement, the Digital Nomad Visa is accessible to freelancers, remote workers, and digital entrepreneurs of all types.
- Explore Colombia: This visa gives you the freedom to work remotely while exploring the diverse beauty of Colombia, from the mountains of Medellín to the beaches of Santa Marta.
Best for:
This visa is ideal for remote workers, freelancers, and digital entrepreneurs who want the flexibility of living in a dynamic country while continuing to work for employers or clients abroad. With the rise of remote work, the Digital Nomad Visa is a great option for those who want to combine work and travel.
Conclusion
Colombia has opened its doors to foreigners with a variety of visa options, each designed to cater to different lifestyles and professional situations. Whether you’re a retiree seeking a peaceful, affordable place to enjoy your golden years, an investor looking to tap into Colombia’s growing economy, or a digital nomad eager to explore the world while working remotely, there’s a Colombian visa that suits your needs.
As more expats choose Colombia as their new home, it’s essential to understand the visa requirements and select the one that best fits your lifestyle and goals. The Retirement Visa is perfect for those seeking a quiet, affordable life after years of work, while the Investment Visa offers a great opportunity for entrepreneurs looking to make financial gains. For the modern professional, the Digital Nomad Visa provides the ultimate work-life flexibility.
Regardless of which visa you choose, Colombia is a welcoming and diverse country that’s becoming increasingly popular among expats from all walks of life. Whether you’re planning to stay for a few years or looking to make Colombia your permanent home, the right visa can make the process of living and thriving in this South American gem much easier.
This information has been provided to us by the people at Colombia Law Connection. You can find out more information from www.colombialawconnection.com, or call +573218642275.
