What is the Colombia Rentista Visa?
The Colombia Rentista Visa, known in English as the Colombian Annuity Visa, is specifically designed for foreign nationals who derive their income from stable, fixed sources such as annuities, rental property income, dividends, or interest. It is important to note that income from salaries or commissions does not qualify for this visa category.
Previously classified as a Migrant (M) Visa, the Rentista Visa was reclassified as a Visitor (V) Visa in October 2022. This adjustment limits the visa’s duration to a maximum of two years and renders it ineligible for progression to residency or citizenship.
To qualify for the Rentista Visa, applicants must demonstrate income from acceptable fixed sources, including but not limited to:
- Payments from an annuity or retirement fund
- Rental income from property
- Interest from loans
- Dividends or interest from corporate investments
- Disability payments from an insurance settlement
- Proceeds from the sale of a business
Additionally, new requirements for the Rentista Visa include the submission of a criminal record report and proof of insurance that covers repatriation costs.
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What Are Income Requirements For Colombia Rentista Visa?
The income requirements for the Colombia Rentista Visa (M-11). To qualify for this visa, you must demonstrate a monthly income equivalent to at least ten times the minimum salary in Colombia. For 2024, the minimum salary, or “salario mínimo,” is COP 1,300,000 pesos, which translates to approximately $3,333 USD per month.
Therefore, your annuity or investment income must meet or exceed COP 1,300,000 pesos per month, roughly equivalent to $3,333 USD at the current exchange rate. It is crucial to note that while the USD value provides a reference, the Colombian visa office considers only the peso value. Exchange rates fluctuate, so it is wise to account for potential changes when planning your application.
To substantiate your income, you must provide six months of bank statements showing the required monthly income deposited into your personal bank account. Additionally, your fixed income statements must be notarized and legalized with an apostille to be accepted by the Colombian government.
Keep in mind that the exchange rates used by the ministry or consulates are not updated daily or weekly. Therefore, it is essential to monitor exchange rate fluctuations.
Important Considerations
Visa Validity and Conditions:
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- The Rentista Visa is now classified as a Visitor (V) Visa, valid for up to two years.
- This visa does not permit employment in Colombia but does allow for studying.
- The visa becomes invalid if you remain outside Colombia for six or more consecutive months.
Additional Requirements:
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- You must submit a criminal background certificate, which can be issued in Colombia or your current or previous country of residence.
- Income from rental properties in Colombia can also be used to meet the income requirements.
Recent Changes in Visa Regulations
The Ministry of Foreign Relations announced new visa regulations under Resolution 5477 on July 22, 2022. These regulations, effective from October 22, 2022, reclassified the Rentista Visa from the Migrant (M) category to the Visitor (V) category, introducing new requirements and rules for applicants.
For more detailed guidance or assistance with your application, please feel free to contact my office.
What Documents Are Required For Colombia Rentista Visa?
The required documents for obtaining the Colombia Rentista (M-11) Annuity Visa:
Passport Photocopy
A clear photocopy of the first page of your valid passport, displaying your biographical data. This photocopy can be in either color or black and white.
Proof of Legal Entry
A photocopy of the passport page showing the most recent entry or departure stamp for Colombia.
Photocopy of Previously Issued Visa
If you have previously been issued a Colombian visa (such as a student visa), a photocopy of this visa must be provided.
Proof of Fixed Income
A certificate from a public entity or private company that specifies the fixed income paid to the visa applicant. The income must exceed ten times the monthly minimum wage in Colombia.
Passport Photo
A digital passport photo with the following specifications: white background, maximum size of 100 KB, in JPG format. The photo must not include earrings, hats, or white shirts.
Certificate of Good Standing
If required, the visa applicant may need to present a certificate of good standing for the entity issuing the income certification.
Bank Statements
If required, the visa applicant may need to provide six months of bank statements to demonstrate consistent income.
Criminal Background Check
A criminal background certificate from the country where the applicant has resided in the last three years is mandatory. This certificate can be issued in Colombia or the applicant’s current or prior country of residence
Proof of Health Insurance
Proof of health insurance with comprehensive coverage is required. The insurance must cover hospitalization, illness, accident, disability, death, and repatriation.
For personalized assistance with your application or further inquiries, please feel free to contact my office.
Bia is in charge or registering and issuing corporate certificates, and acts. Each city has its own local regioinal office. For example in Medellin the link to the chamber of commerce.
Applying for the Rentista/Annuity Visa from Within Colombia
As an immigration attorney, here is the process for applying for the Rentista/Annuity Visa from within Colombia:
Once your online visa application is approved, you must travel to Bogotá to have the visa stamped in your passport. Visas in Colombia are issued at the Ministerio de Relaciones Exteriores office, located at Avenida 19 # 98-03, Torre 100 Building, 3rd Floor. The office is open from 7:30 am until noon.
Challenges and Professional Assistance
Navigating the visa application process can be challenging due to the complexities of government bureaucracy, the necessity of traveling to Bogotá, and the potential language barrier if you are not fluent in Spanish.
To simplify the process and ensure a successful application, consider using the services of an experienced visa agency such as Visas by James. Our agency specializes in obtaining visas and has processed hundreds of applications, providing expertise on the specific requirements for each type of visa.
Benefits of Using a Visa Agency
- Expert Guidance: Our agency understands the intricacies of the visa application process and can guide you through each step, ensuring that all necessary documents are correctly prepared and submitted.
- Courier Services: To avoid the need for a personal trip to Bogotá, we offer a courier service to transport your passport to the Ministerio de Relaciones Exteriores. This service can be more cost-effective than traveling to Bogotá yourself.
By leveraging our professional services, you can streamline your visa application process, save time and effort, and avoid unnecessary complications.
For more information or to start your application process, please contact our office.
Readers exploring What is the Colombia Rentista Visa? might also want to check out these related posts: How to Get a Colombian Retirement Visa, Colombian Pensioner Visa Guide, Colombian Real Estate Investment Visa, Colombian Financial Requirements for Visas, and Colombian Income Requirements for Visas.
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.
