Visa Type M Partner or Business Owner in Colombia

Visa Type M Member or Owner.

The entrepreneur or owner-partner visa Type M is designed for those foreigners who are in one of the following scenarios: foreigners who are establishing their own business in Colombia, or who are investing in a Colombian business or company that is already previously constituted, in order to allow the entry and stay in Colombia so that the foreigner can create, conduct and supervise his company, or in which he is participating as an investor.

By virtue of the above, in order to apply for the entrepreneur or owner-partner visa type M, it is necessary that the foreigner aspiring to this type of visa constitutes a company in Colombia or invests in a company, and, at the same time, it is necessary that such company remains active, generating goods and services, paying taxes. Additionally, Resolution 6045 of 2017 Article 48 states that the foreigner must acquire capital in commercial company for an amount not less than one hundred (100) legal monthly minimum wages in force.

With respect to the time of granting, the type M visa will be valid for three years, and the time of stay authorized in the national territory to the holder of the type M visa will be equal to the time of validity of the same.

What are the requirements for the Type M Partner/Owner Visa?

The general instructions or considerations to keep in mind when submitting a visa application are as follows:

1. Have a valid passport or travel document, in good condition and with free space for visas.
2. Fill out the electronic visa application form.
3. All documents required, other than identity or travel documents, must have a date of issue no more than three months prior to the registration of the application.
4. All documents coming from abroad must have an apostille or legalization and an official translation into Spanish when not in this language. The official translation must be legalized or apostilled as the case may be.
5. If bank statements are required, they may be submitted without apostille or legalization and without translation into Spanish, if their content can be clearly established by the visa officer.
6. In the case of requiring the presentation of a judicial record, when the application for this visa is presented before a Colombian consulate based in the foreigner’s country of origin, the certification of judicial or criminal record in accordance with the procedures established in that country will suffice. When the application is submitted to the Internal Visa and Immigration Working Group, the judicial or criminal record certified by the consulate of the country of origin accredited in Colombia or apostilled or legalized, as the case may be, may be submitted.

General requirements Visa type M member or owner

Regarding the requirements common to all visa applications, the following are found, taken from resolution 6045 of 2017 article 36:

1. Fill out the visa application form electronically.
2. Present a valid passport, travel document or Laissez Passer issued by an Authority, International Organization or State recognized by the Colombian Government, in good condition and with free space for visas.
3. Provide a copy of the main page of the passport, travel document or valid Laissez Passer where the holder’s personal or biographical data are recorded.
4. Foreigners who apply for a visa while in the national territory or in the territory of a State other than that of their nationality, must provide a copy of the document that, in accordance with the immigration regulations of the country in which they are staying, certifies their legal, regular or authorized stay.

Specific requirements

Now, according to resolution 6045 of 2017 article 48, when the migrant visa is requested for meeting the conditions of numeral 6 of article 17, which reads: Having constituted or acquired participation in the capital stock of a commercial company in the minimum amounts established in the chapter on requirements, the foreigner must acquire capital in a commercial company for an amount not less than one hundred (100) legal monthly minimum wages in force and must contribute:

1. Letter of request in which the company name, domicile and Tax Identification Number (TIN) of the commercial company incorporated or in which it invests are accurately stated.
2. In the case of joint stock companies, the participation in the company shall be accredited with a certificate of shareholding subscribed by a public accountant, indicating the amount of capital or registered and paid assets owned by the foreigner applying for the visa, which may not be less than the equivalent of one hundred (100) legal monthly minimum wages in force.

Likewise, Resolution 6045 of 2017 states that the visa authority may require the presentation of the original partnership agreement, incorporation document or financial information of the company when the documentation provided is insufficient, presents inconsistencies or requires clarification.

What must be the value of the assets or the minimum stake in the company to apply?

From the reading of resolution 6045 of 2017 article 48, it is clear that the value of the assets or the minimum participation in the company to apply corresponds to an amount not less than one hundred (100) legal monthly minimum wages in force. In Colombia, 100% ownership of foreign companies is allowed, and in the case of a simplified joint stock company (S.A.S.) it can be composed of only one (1) shareholder, either a natural person or a legal entity, that is, a person or a company can own the company. As soon as the company has been formed and has invested an amount equivalent to at least 100 minimum wages in such company, it may apply for a business owner visa.

Must the required capital be deposited in the company’s bank account?

It is important to keep in mind that the investment in the company must be registered with the Central Bank of Colombia.

How is such participation, assets or paid-in capital demonstrated?

As mentioned above, in the case of joint stock companies, the participation in the company shall be evidenced with a certificate of shareholding subscribed by a public accountant, indicating the amount of capital or registered and paid assets owned by the foreigner applying for the visa.

Can several partners apply for the visa with the capital required for the company?

Each foreign partner applying for an M visa must have paid up the capital required for the company. That is, a value greater than $84,000,000 COP paid by the foreign partner applying for the visa.

Checklist of requirements

• Original valid passport. Or valid travel document, in good condition and with free space for visas.
• Photocopy of the main page of the passport. Or a valid travel document or Laissez Passer where the holder’s personal or biographical data is recorded.
• Photocopy of the document that certifies the legal, regular or authorized stay in the country where the interested party is located. *This document applies in cases where the applicant is in a country other than that of his/her nationality .
• Photo size 3x4cm in JPG format, with a maximum weight of 300 KB.
• Certificate of shareholding subscribed by a public accountant indicating the amount of capital or registered and paid assets owned by the foreigner applying for the visa.

*The visa authority may require the presentation of the original company contract, incorporation document or financial information of the company when the documentation provided is insufficient, presents inconsistencies or requires clarification.

When is payment made?

The first step is to pay the visa application fee within 15 calendar days after filling out the electronic visa application form or registering the application, and at a later time, the visa issuance fee must be paid if the application is approved.

How much does it cost?

The visa study in Colombia for a partner or company owner costs US$52. While, if the visa study in Europe and Cuba is advanced, it has a cost of 40 euros (€).

The cost of the visa issuance fee once the application is approved is US$230 in Colombia. In the case of Europe and Cuba, the cost is 177 euros (€).

*Bear in mind that, regarding the payment of the study fee, Article 74 of Resolution 6045 of 2017 states that this payment is non-refundable and does not commit to the granting of the visa.

What forms of payment are available?

Online payment. PSE, Servibanca, Banco GNB Sudameris, Payment at consulates, Payment with VISA Credit Card and MasterCard.

At the requesting entity. In Bogota: Banco GNB Sudameris Oficina Sede Norte: Avenida 19 N° 98 – 03 Edificio Torre 100 Piso 1, payment can be made in cash and in Colombian pesos. Payment can also be made at any SERVIBANCA ATM in the country.

At a bank. Banco GNB Sudameris.

Duration of the procedure

First of all, you must take into account that you have a period of 15 calendar days to pay the visa application fee. Once the visa application has been registered and paid for, the visa authority has up to five (5) working days to issue an opinion. If the application is approved, the visa authority will proceed to issue and send the e-visa within the following three (3) days.

*The visa authority will have up to five (5) days to issue a visa concept. However, when in order to adopt the decision it is necessary to request the applicant, the term may be extended for up to thirty (30) calendar days counted from the date of payment of the application.

*It should also be noted that due to Covid-19 and until the sanitary emergency declared by the Ministry of Health remains in force, Article 5 of Resolution 1296 of 2020 applies, and visa stamping is suspended for validity periods equal to or greater than 3 months, and in this case the visa issuing office must be approached so that it can be stamped in the passport. With a visa granted abroad, you may enter the Colombian territory with an electronic visa and within thirty (30) days after your arrival to the national territory you must go to the visa office in Bogota to carry out the visa stamping. Upon expiration of this period, the holder must request the transfer of the visa.

Online application

All visa applications must be pre-registered by the user in the online visa application form. The required documents must be uploaded in PDF format with a maximum weight of 5 MB. It is suggested in individual files according to the established box.

How long must the passport be valid for?

The passport or travel document must only be valid at the time of visa issuance.

Can I apply from abroad (online or at a consulate or embassy)?

This type of procedure is semi-presential. All visa applications must initially be registered by the user in the online visa application form. However, the applicant may be required to appear before the visa authority to make the decision. Likewise, it is possible to carry out the procedure from abroad at the corresponding consulates.

Differences depending on the country

In the case of Ecuador, the cost varies, if the visa study is carried out in Colombia, the cost is US$30. If done in Europe and Cuba, it is 23 euros (€).

In the case of Spain, the visa study in Colombia, as well as in Europe and Cuba, is free of charge.