When Sarah purchased her first vacation home in Medellín, she had no idea it would lead to a new chapter in her life. As an artist and frequent traveler, she longed for a home base in Latin America. What began as an investment soon turned into a pathway for residency, giving her the freedom to explore and thrive in a city she quickly grew to love.
Types of Visas for Investors
Colombia offers multiple visa options for foreign investors:
- Migrant (M) Visa: Requires an investment equivalent to 350 times the Colombian minimum wage (approximately $90,000 USD).
- Resident (R) Visa: Available after holding the M Visa for five years, granting permanent residency.
Benefits of Residency
- Ease of Travel: Residency allows unlimited stays in Colombia and facilitates travel across the region.
- Financial Stability: Legal residency simplifies tax obligations and strengthens your connection to local financial systems.
- A New Lifestyle: For Sarah, residency meant access to Medellín’s art community, culinary delights, and year-round mild weather.
How to Begin the Process
Start by purchasing a qualifying property and working with a local attorney to register your investment. The process is straightforward but requires proper documentation and adherence to Colombian legal requirements.
Conclusion
For investors like Sarah, Medellín offers more than financial returns. It’s a chance to create a new home, immerse in a rich culture, and gain the security of residency in a growing global destination.
