Popular Business for Expats in Colombia

Most Popular Businesses for Expats in Colombia

Colombia, located in South America, offers a vibrant culture and stunning landscapes along with its expanding economy. This makes it an appealing place for expatriates who desire to establish their own business in Colombia. Let’s explore the fundamental details regarding Colombia:

Capital: Bogotá
Currency: Colombian Peso (COP)
Official language: Spanish

The service industry holds a share of more than 60% in Colombia’s GDP. It boasts competitive qualities and low entrance barriers which render it an attractive area to start a business, particularly within the digital services or tourism sectors.

Real Estate Broker

Doing work as a real estate broker is an appealing choice for expats because there is always a need for housing, specifically in big cities. You don’t necessarily need to have a realtor’s license to start, but it’s better if you register your business.

Restaurants in Colombia

Starting a restaurant or bar could also be an option, particularly if you focus on a certain market segment or provide something different. The locals in Colombia are starting to pay more attention to their health, so healthy food choices are becoming popular.

Tour Company in Colombia

Colombia has many different types of terrain and a history that is rich for guides to share. You can concentrate on adventure tours, historical visits, food-tasting trips, or anything else that suits your desires and knowledge.

Boutique Hotel in Colombia

Tourism in Colombia is growing fast, so B&Bs and small hotels can be a good choice. The barrier to start is lower compared with big hotels. You must remember that licensing requirements are related to the size and operation of your business.

Market Research and Planning

Do some studying: Before you jump into it, look into the market for your selected product or service. Is there any need? Who are the people competing with you? Understanding the landscape is crucial for success.

Create a robust plan for business: This is a document that outlines your strategy, financial estimates, and marketing method. It’s important not just to direct your choices but also if you are looking for money.

Digital Services in Colombia

Digital Services: With a thriving tech industry in Colombia, there is demand for digital services such as web design, marketing and software development.

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Legal and Regulatory Considerations:

Seek professional guidance: Navigating Colombian business regulations can be complex. Consulting a lawyer or accountant familiar with expat ventures can save you time and headaches. Understand visa requirements: Ensure you have the appropriate visa to operate a business legally.

Cultural Awareness:

Embrace the culture: Take time to understand Colombian business culture. Building relationships and fostering trust are key to success. Learn some Spanish: While English fluency is growing, basic Spanish will go a long way in establishing rapport with potential customers, partners, and employees.

Additional Tips:

Network: Connect with other expats and local entrepreneurs. They can be a valuable source of information, support, and potential partnerships.

Start small and scale gradually: It’s wise to begin modestly, test the market, and then expand based on your success.

Be patient: Building a successful business takes time and effort. Be prepared to invest the necessary time and resources to see your venture flourish.

Our Story

James Lindzey founded the website ColombiaVisas.com, which is constantly updated with new information explaining visa resolutions, procedures, and laws in Colombia to expats. James has worked as a private investigator and paralegal in the United States through the 90s until he moved to Colombia in 2005. James arrived in Colombia in 2005 and started doing visas for expats, but currently works as Director of Legal Services for Visas by James, and Colombia Legal & Associates SAS since June of 2023.

Colombia Legal & Associates acquired the brand name Visas by James as it became a more familiar and easy way for foreigners to remember the business, than the previous Visas y Tramites Internacionales.

While MedellinLawyer.com focuses more on legal issues for expats, ColombiaVisas.com focuses more on visas, and holds the trademark Visas by James. ColombiaVisas.com is the oldest website and provider of visa information for expats in Colombia. We are proud to be the first and always on the cutting edge of providing interactive website content to our visitors.

In addition to our visa services our agency offers a full range of legal and accounting services to our clients. We are able to assist better in document collection services in the United States because of James previous legal experience in the United States.