Who can apply for this type of visa?
This visa category is open to any foreigner who has purchased a property in Colombia, or has invested in the Colombian stock market. We’ll address in this post to the real estate investment visa.
What are its benefits and restrictions?
Up to three years validity
It allows you to live in Colombia for up to three (3) years. It also allows you to get a foreign ID card (Cédula de extranjería).
This visa admits beneficiaries
It allows you to bring your Spouse and children under 25 as beneficiaries once your visa gets approved.
No work permit
This visa does not allow you to work in Colombia.
Accrue time towards residency
Allows you to accrue time towards residency. After holding this visa for five (5) continous years, you will be eligible to apply for a Resident type visa.
You can lose your visa if you stay out of the country for 6 continous months.
What do I need to apply?
1. Certificate of ownership (”Certificado de libertad y tradición”)
This is an official document issued by the Public Registry of Property (Registro de Instrumentos Públicos). It provides detailed information about the legal status, ownership history, and any encumbrances or liens on a specific property.
You can get this certificate on this link https://certificados.supernotariado.gov.co/certificado by typing the property registration number (“matrícula inmobiliaria”) of the property. It costs $20.900 COP (as of 2024).
This certificate should not be older than 90 days old at the time of your visa application.
This is just an example. But this is the kind of certificate you will need to apply for this visa.
💡 This certificate needs to show that you have purchased the property for a price of at least 350 Colombian minimum wages. At 2024, the minimum wage in Colombia is $1.300.000 COP. Therefore, the minumum ammount is $455.000.000 COP for 2024. Be aware that the price of the property needs to keep being 350 minimum wages for second and third applications on this visa category. In Colombia, the minimum wage increases a certain amount every year on January 1st.
It is also required to demonstrate that you are the exclusive owner of the property. If the property is registered under your name along with another individual’s name, your application will be denied.
2. Direct Foreign Investment Certificate
The Certificate of Foreign Investment is acquired by providing the Central Bank some details about the investment.
Should you have transferred your funds for property purchase in Colombia via a brokerage agency (such as Acciones y Valores or Alianza), they will complete the required information on your behalf and you will be able to download the certificate in the Central Bank’s website.
An example:
3. Personal bank statements
Provide your bank statements from the three months prior to the visa application. Those statements must show that you have financial solvency to cover all your expenses in Colombia.
4. Health insurance policy
You must have a health insurance policy that provides coverage in Colombia for risks including: accident, illness, maternity, disability, hospitalization, death, and repatriation, with at least one (1) year of validity.
We recommend Genki to fulfill this requirement, as it offers:
- A default validity of 2 years.
- Monthly payments starting at 65 EUR.
- The option to cancel at any time.
- Quick and online purchase process (within one business day).
- Issuance of a health coverage summary in Spanish.
- Successful use by many of our clients in obtaining their visas.
**If you are applying for a second time with this visa, you will need to proof you have held the investment in your property. This is normally achieved by showing payment for the utilities, payment of property taxes, HOA fees payments, among others.
How much does it cost?
Our Visa Assistance Service
Forget about troubles!
Hiring our Real Estate Investment Visa Assistance service is just $1,350,000 COP
- Initial consultation / Strategy and workplan definition
Our services begin with an in-depth consultation. We aim to understand every aspect of your situation - professional life, family, travel plans, budget - to craft a customized strategy that ensures you meet all requirements for visa approval.
- Documents and information review
We meticulously review all necessary documents and information. This ensures that every piece of your application aligns perfectly with the requirements, setting the stage for a smooth visa application process
- Visa submission & monitoring
With your application in motion, we closely monitor its progress. Our team stays vigilant, ensuring that your submission not only meets all criteria but is also poised for a favorable outcome, keeping you informed every step of the way.
- Visa approval and cedula de extranjería
Upon achieving visa approval, we extend our guidance to include the final, crucial steps. Assisting with the Cédula de Extranjería registration, we ensure your transition into Colombian residency is as smooth as your path to visa approval.