The Colombia Investment Visa is intended for a foreigner who invests in property or a business in Colombia. The visa is relatively easy to get with few requirements. The visa also known as the TP-7 visa is also relatively inexpensive – costing just $255 including the processing fee.
Colombia Investment Visa Requirements
To qualify for the Colombia Investment Visa you need to demonstrate that you have invested a required amount in either a property or business in Colombia.
For property investments, Colombia requires an investment that is more than 350 times the current legal minimum monthly salary in Colombia. The minimum monthly salary in Colombia is 616,000 pesos per month in 2014. This means you would need to invest in property that costs more than 215,600,000 pesos, which is $104,457 at the exchange rate of 2,064 pesos per USD.
To prove a property investment for a visa, Colombia requires two documents. The first requirement is a communication issued by the Department of International Exchange at the Bank of the Republic in which the foreign direct investment is registered in order for the foreigner to buy a property in his name in an amount that is greater than 350 times the current legal minimum monthly salary in Colombia. The second requirement is a Certificate of Tradition and Liberty issued by the respective Office of Public Instruments, with an issue date of no more than a month prior to the visa application in which the property ownership by the foreigner is shown.
For business investments, Colombia requires an investment that is no less than 100 times the current legal minimum monthly salary in Colombia. This means an investment of at least 61,600,000 pesos, which is $29,845 at the exchange rate of 2,064 pesos per USD.
To prove a business investment for a visa, Colombia requires a certificate of legal representation issued by a Colombian Chamber of Commerce within three months prior to the application for the visa. The certificate must state that the foreign national is a partner or owner of a company legally constituted and registered with a capital or assets registered and paid by the foreigner in an amount of at lease 100 times the current legal minimum monthly salary in Colombia.
First American Realty, the largest foreign-owned real estate firm in Medellin, has experience working with investors for both types of Colombia Investment Visa. Visitors looking for an easy way to obtain a Colombia Investment Visa can contact the company here.
The Investment Visa Process
The following documents how to get a Colombia Investment Visa in-person in Bogotá based on a TP-7 visa. You can also get a visa at Colombian Consulates abroad.
The Colombia Investment Visa is applied for in-person at the Ministerio de Relaciones Exteriores office located in Bogotá at Avenida 19 # 98-03, Torre 100 Building, 3rd Floor. The office is open from 7:30am until noon.
- Copy of the first page of your current passport where your personal data is displayed.
- Copy of the page of your passport where the last stamp of entry or departure of Colombia is located.
- If you’ve had a previous Colombian visa, a copy of this visa.
- Documents outlined above under Colombia Investment Visa Requirements to prove the property or business investment in Colombia.
- Valid current passport with an expiration date of more than 180 days and two blank pages.
- Since you are applying for the visa in-person you will not need photographs, your photo will be taken on site.
The cost of the Colombia Investment Visa (TP-7) is $50 for processing (study) in the Bogotá visa office and $205 for the visa for a total of $255. This is paid in pesos in a small bank branch located in the visa office.
You can apply for the visa online here, which will require you to have scans of all the required documents. But this is not needed if you apply for the visa in-person. If you apply in-person, the agent will ask you questions, fill out the online application for you, scan all your documents and return them to you as well as take your photo with a digital camera.
The TP-7 visa is typically issued for a duration of one year and permits multiple entries into Colombia. After five years of having a TP-7 visa this can be converted to a resident visa (RE visa), which is good for five years. Note that if someone with an RE visa leaves the country for two continuous years they lose the right to the visa.
Getting a Colombian Cedula
After you have successfully received your Colombia Investment Visa you will have a maximum of 15 days to register your visa with Migración Colombia to get a Cedula de Extranjeria (Colombian ID for foreigners). This must be done in-person. We previously documented this cedula process in our report about the Colombia Retirement Visa but we are repeating the process here for completeness.
It is important to register your visa within the allotted time frame or you will be liable for a big fine of up to seven times the minimum monthly salary in Colombia (well over $2,000).
The following is information successfully used at the Migración Colombia office in Bogotá in July 2014.
Before going to Migración Colombia’s office, deposit 156,300 pesos at Banco Occidente. In Bogotá there is a Banco Occidente branch located at Calle 100 #9A-39, which is a few blocks from the Migración Colombia office.
At the bank they will have a sample deposit slip posted on the wall showing how to fill it out with:
- Account name: Migración Colombia
- Account number: 263-05464-5, codigo 101
- Amount: 156,300 pesos
After making the deposit at Banco Occidente, it is a short walk to the Migración Colombia office in Bogotá, which is located at Calle 100 #11B-27.
- Original deposit slip from Banco Occidente
- Original passport
- Signed “Formato Único de Tramites” application form (form available in the office)
- Photocopy of biographical page of passport
- Photocopy of your TP-7 visa
- Photocopy of blood test showing your blood type (or if you have a previous visa, photocopy of your cedula)
- 1 photo (3×4 cm) – no photo needed if you have a previous visa
If you register your visa with Migración Colombia in Bogotá, the cedula should be ready for pickup in three business days at their office. You can check status on the Migración Colombia website, which has a list of cedulas ready for pickup.
You can also register the visa in Bogotá and have the cedula sent to the Medellín Migración Colombia office – this requires a letter to request this and make sure to have an extra copy.
If the visa is registered at the Migración Colombia office in Medellín (located at Calle 19 #80A-40) or another city the process takes longer, which is about 10 business days to receive the cedula.
It is possible to get the visa and apply for the cedula in the same day in Bogotá. The visa office opens at 7:30am but I recommend going at 6:00am so you will be one of the first in line and make it out normally before 9:00am. This way you avoid sitting for much time in the visa office and provides plenty of time to register the visa with Migración Colombia, which closes at 4pm.
Also make sure to bring something to read and dress warmly as it can be cold in the morning in Bogotá.
The Colombia Investment Visa is relatively easy to get but is strictly intended for someone who invests in property or a business in Colombia. The steps outlined above show how to get a Colombia Investment Visa yourself based on the current procedure.
We have now looked at three types of visas for Colombia: the Marriage Visa, the Retirement Visa and in this report the Investment Visa. There are currently 17 different types of visas available to foreigners in Colombia however the procedures and requirements can change so it’s important to have professional help when looking to acquire a non-tourist visa. First American Realty offers a wide range of client services including Visa Services.
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