Real Estate Investment Visa

If you are one of the people who need a visa to enter Colombia because you are a national of one of the countries excluded from the list of article 1 of Resolution 10535 of 2018 and your country does not have an agreement with Colombia. Then, you may be interested in the real estate investment visa.

The visa for real estate investment is a Type M Visa (migrant) according to Resolution 6045 of 2017 of the Ministry of Foreign Affairs. This visa is granted to those who purchase real estate in Colombia for a minimum value of 350 legal monthly minimum wages in force, equivalent to $307,230,700 in the year 2020.

Online application

The application for this visa is very easy, since it must be made online through the SITAC web application. In this sense, the application can be made from abroad.

You must complete the online application form and attach the required documents (described below).

General requirements

The following documents are required for all visas:

1. Original passport. It must be in good condition and have free space for the visa (at least 2 blank pages). In addition, it must be valid for at least 180 days (or 6 months).
2. Copy of the main page of the passport. The main page is where your personal data and photo appear. PDF format.
3. Document that accredits the legal, regular or authorized stay in the country where the interested party is located. Only in case you are applying from a country other than your country of nationality. PDF format.
4. Photograph: size 3x4cm, color with white background. You should be facing the camera, your head should be full and centered, no accessories or hair should cover your face, your face should have a neutral expression, your eyes should be open. JPG format with a maximum weight of 300 Kb.

Specific requirements

For the real estate investment visa is also required:

1. Certificate of tradition and freedom of the acquired property that proves the ownership of the property. PDF format.
2. Communication issued by the Department of International Exchanges of the Bank of the Republic where the registration of the direct foreign investment for the purchase of real estate in your name, for a minimum amount of three hundred and fifty (350) legal monthly minimum wages in force. PDF format.

Checklist of requirements

It is important to note that the documents you must attach to your application must be in PDF format, except for the photograph. And the weight of the sum of them should not exceed 5 Mb.

It is recommended that the documents be in an individual file and uploaded in the box indicated for each of them.

In addition, you should keep in mind that:

• The documents must have an issue date of less than three (3) months at the time of application.
• Documents coming from abroad must be apostilled or legalized.
• Documents coming from abroad must have an official translation into Spanish if they are not in Spanish. This translation must be apostilled or legalized.
• The visa authority may request a background check from your country.
• The visa authority may request additional documentation, clarification of information and interviews if necessary.

Cost

Two payments must be made during the visa application process. The first one at the moment of making the application and the second one when your application is approved for the issuance of the visa.

However, the cost of the application varies depending on your nationality and where you are applying from. So, if you make the application from Europe and Cuba the process has a value of €40.00, and if you make it from Colombia and the rest of the world the process has a value of US$52.00. And if you are Ecuadorian the cost of the procedure is €23.00 or US$30.00 respectively.

On the other hand, once the visa application is approved, you must pay the visa issuance fee. This cost also varies as above. So, if the visa is paid in Europe and Cuba the cost is €177.00 and if it is paid in Colombia or the rest of the world the cost is US$230.00. Finally, if you are a Spanish, Ecuadorian, Japanese or Korean national, there is no cost.

Form of payment

Colombian visas can be paid by different means of payment:

1. Through the Chancellery’s web page with Visa credit card or through the PSE service. Please note that payment by Visa credit card is subject to a $2,200 COP bank commission charge.
2. At any Servibanca ATM in the country.
3. At branches of Banco GNB Sudameris.
4. At consulates. You should contact the consular office for more information.

Remember that you only have thirty (30) calendar days to pay the visa issuance fee. If you do not pay within this period you will have to reapply.

Duration of the procedure

There are two stages in the process: the first is when the application is made and the second is when the e-visa is issued.

Once the visa application has been made, the visa authority has up to five (5) days to study the application and issue a decision. However, it may take up to thirty (30) days when additional documentation, clarification of information or interviews are required from the applicant.

After payment of the issuance fee, the visa authority must proceed to issue and send the e-visa within three (3) days.

It should be remembered that these days are working days, i.e. Saturdays, Sundays and holidays do not count.

Visa stamping in passport and visa registration

Finally, you can enter Colombia with your e-visa. But once you are in this country you must stamp your Type M visa at the visa issuing office within thirty (30) days of your entry or from the date you obtained the visa if you applied for it from Colombia. Otherwise, you will have to apply for a visa transfer.

In addition, you must register in the Foreigners Registry of Migration Colombia within fifteen (15) calendar days following your entry into the country or from the date you obtained the visa if you applied for it from Colombia.

How does money from abroad enter Colombia for investment?

The procedure to register foreign direct investment in Colombia with the Banco de la República is very simple. The first thing is to distinguish whether the foreign direct investment is made through the import of foreign currency (money) or whether the investment is made by any of the other modalities of foreign direct investment in Colombia. In the first case, the “Automatic registration with the presentation of the declaration of exchange for international investments” -Form no. 4. 4-. In the second case, the “Registration with compliance with the investment requirements” -Form No. 11- is required.

The forms, guidelines and other information on this procedure can be found on the web page of Banco de la República de Colombia.

Can I apply if I am in an irregular status in the country?

As mentioned in the section on required documents, you must provide a document proving regular stay in the country from which the application is made. That is, you cannot apply for a Colombian visa if you are in irregular status in Colombia or any other country.

How long must the passport be valid for?

The passport must have at least six (6) months of validity and two free pages for the visa.

How long can the person stay?

The Type M Visa is valid for three (3) years. Then, you can stay in the Colombian territory for up to three (3) years with the visa for real estate investment.

Does the real estate investment visa allow me to work in Colombia?

No, this visa does not grant you permission to work in Colombia.

Lawyers specializing in visa procedures in Colombia

If you are looking for legal advice to process your Colombian visa, at Servicio Legal you will find lawyers specialized in visa procedures that will help you solve your case successfully.
Schedule a consultation here