There are still tons of people hoping to start a business in Colombia and use that business as a basis for a visa. However, this process has gotten decidedly more complicated of late. At this point, getting what is typically called a “Company Owner Visa” often requires the following:
- Confirmation that investment was actually made (currently just over US$26k),
- Copies of corporate bank statements over the prior 6 months that would show an active business (payment to employees, payment of lease rent payments, payment of legit business expenses, etc…),
- Regular invoices, and/or.
- Corporate financials.
Things to Consider
1.You can buy an existing company and use the ownership of that company as a basis for a Company Owner Visa. Remember that you still have to comply with applicable requirements (the stuff itemized above).
2. Invest in Existing Company: You could make an investment above the minimum threshold and then apply for a visa.
3. Invest in a Real Estate/Other Investment: You could, theoretically, do #2 above but purchase shares in an existing company that itself generates monthly annual interest/dividends. There are more and more of these companies that offer a visa as an incentive to get your investment funds. You should still conduct a standard due diligence process to determine if the investment itself is viable.
4. Invest in Local Stock Market: You could also, theoretically, purchase shares of a company in the local stock market (think Bancolombia, Ecopetrol, etc…) above the minimum threshold and use this as a basis for a visa. We normally DO NOT RECOMMEND this strategy as the ups and downs of the local stock market can be pretty hairy. If you are comfortable investing approx. US$30k into one/various local stocks that could greatly decrease in value by the time your visa expires this is definitely an option.
If you just want to visit Medellin or Colombia in general, here’s a guide to extending your tourist visa.