Colombia Annuity Visa / Rentista Visa
The Colombia Rentista visa is referred to as the Colombian annuity visa in English. The Colombian government issues this type of visa to foreigners who receive income from a fixed income source like an annuity, rent from a rental property, dividends or interest. This source may not be a salary or commissions.
The Rentista visa used to be Migrant (M) visa. But as of October 2022, it has been downgraded to Visitor (V) visa with a maximum duration of 2 years. This visa does not qualify for neither residency nor citizenship.
In order to qualify for Rentista visa, the following sources of fixed income are acceptable.
- Payments from an annuity or retirement fund
- Rent from a rental property
- Interests paid from loaning money
- Dividends or interest payments from investments in corporation
- Disability payments from an insurance settlement
- Payments from the sale of a business
New requirements for the annuity / rentista visa are a criminal record report, and insurance which covers repatriation.
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What Are Income Requirements For Colombia Rentista Visa?
The income requirement for Colombia Rentista visa (M-11) is 10 times minimum salary in Colombia. The minimum salary or “salario minimo” in Colombia is COP 1,160,000 pesos in 2023, which is roughly $227 USD per month.
At the current exchange rate in 2023, your minimum annuity or investment income must be at least COP 1,160,000 pesos which is about $2,578 USD* per month. So, if you receive a monthly income of $2,337 or more, then you may qualify for the Rentista visa. Colombia Visa officials require 6 month of bank statements showing this income in your personal bank account in order to receive the Colombian Annuity rentista visa. *Remember the USD value is just for reference. The Colombian visa office only uses the peso value when considering if you qualify. Search the internet for COP/USD conversion rates. Remember the Colombian peso and USD values fluctuate without warning. Plan for unexpected exchange rate changes.
Your monthly fixed income statement must be notarized, and legalized correctly with an apostille to be accepted by the Colombian government.
Please note that the ministry or consulates do not update the exchange rate that they use on a daily or weekly basis. You must pay attention to fluctuating exchange rate, and beware that each January the minimum wage is adjusted by the government to make up for inflation.
Recommended Reading: How to Create a Company in Colombia
The Rentista visa allows you to study in Colombia as well but you are not permitted to work in Colombia. Please be aware that the Rentista visa becomes invalid if you stay out of Colombia for 6 or more months consecutively.
A new rule on visas was announced by Ministry of Foreign Relations Resolution 5477 of July 22, 2022.
This rule will apply changes in the category of various types of visas and will require adjustments in Colombian Visa Application System.
According to this resolution, the new visa rules will be applicable starting October 22, 2022.
The Rentista Visa or Annuity visa has been downgraded from Migrant M category to Visitor V category.
With this new change in visa category comes new set of requirements or new rules which are the following:
- Besides annuity income, rentista visa applicants can demonstrate income via rental income received from properties located in Colombia.
- According to new rules, the maximum validity of the visa is up to two years.
- Applicants need to submit criminal background certificate. This certificate can be issued in Colombia or in country of current or prior residence.
What Documents Are Required For Colombia Rentista Visa?
The following documents are required for Rentista (M-11) annuity visa.
A photocopy of the first page of your valid passport showing your biographical data. The photocopy can be either in color or black and white.
Proof of Legal Entry:
A photocopy of the page of your passport showing last stamp of entry or departure of Colombia.
Photocopy of Previously Issued Visa:
If you’ve had a previous Colombian visa such as a student visa, then a photocopy of this visa.
Proof of Fixed Income:
Certificate issued by a public entity or private company, specifying the income paid to the foreign visa applicant and the amount must be over 10 times the monthly minimum wage in Colombia.
Digital visa photo, white background,100 Kb max size, jpg file. No ear rings, no hats, no white shirts.
Certificate of Good Standing:
If required visa applicant MAY have to show a certificate of good standing for entity issuing income certification
If required visa applicant MAY should show 6 months of bank statements
Criminal Background Check
A criminal background certificate is required from the country where the applicant has lived in the last 3 years. This certificate can be issued in Colombia or in country of current or prior residence.
How to Apply for Colombia Rentista/Annuity Visa?
There are two ways to apply for Colombian Rentista/Annuity Visa
Applying for Rentista / Annuity Visa? from abroad
A visa applicant who wishes to invest in Colombia can apply for a Colombia Rentista/Annuity Visa online. In addition, any Colombian visa can be obtained at any Colombian consulate around the world. In the U.S., Colombia has consulates located in the following cities and states:
The Colombian visa application process is fairly easy as it can be completed entirely online. You can apply for a Colombia Rentista/Annuity Visa online Tramites Visa . This application will require scanned copies of all required documents in Adobe PDF format along with your passport photo in JPEG format. In addition, a detailed guide for applying online can be found here.
If you are in another country outside of Colombia, then you have to go to nearby Colombian consulate in that country so that you can get the visa added to your passport at a Colombian consulate. Once your Colombian investment visa has been approved and added to your passport, you are ready to travel to Colombia as a migrant and an investor.
Applying for Rentista/Annuity Visa from Colombia
Once you receive online visa approval, if doing this in Colombia, you need to travel to Bogotá to get the visa in your passport. Visas in Colombia are issued at the Ministerio de Relaciones Exteriores office in Bogotá. Their office is located at Avenida 19 # 98-03, Torre 100 Building, 3rd Floor. It’s open from 7:30 am until noon.
The major challenge with getting a Colombian visa yourself is dealing with a government bureaucracy, making a trip to Bogota and not understanding the laws properly if you are not fluent in Sanish.
This is where you can benefit from the services of an experienced visa agency such as Visas by James. A visa agency such ours is your best bet when it comes to obtaining visa for you. An experienced visa agency which has processed hundreds of visas and knows exactly what is needed for each type of visa is exactly what you need.
Another big benefit of using a visa agency is that they offer services to courier your passport to Bogotá to get the visa put in your passport. So, you can avoid a trip to Bogotá. The cost of a visa service including the service to courier your passport to Bogotá can even be cheaper than the cost of a trip to Bogotá.
Why Use Our Visa Agency For Getting Colombia Rentista/Annuity Visa?
Since 2005, our visa agency Visas by James has obtained hundreds of visas for foreigners who wish to study, work, invest, and live in Colombia. We are the oldest expat visa business in Colombia. We also have more attorneys in office than any other visa agency in Colombia. In addition to our visa services we offer a full range of legal and accounting services to our clients. By having a legal and accounting firm work on your application, we are able to handle any surprises or last minute requests by immigration officials.
James Lindzey the owner of Visas by James has worked as a private investigator and paralegal in the United States from the 90s until he moved to Colombia in 2005. James arrived in Colombia in 2005 and started doing visas for expats in 2007.
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 legal experience in the United States.
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Our main office is located in Medellin, Colombia near Parque Lleras in El Poblado. We have representation in Bogota, Miami, and Fort Lauderdale. Our main office address is Cra 39#5A-95, Oficina 709, Edificio Avangarde. We accept walk in appointments but its always nice if you can let us know ahead of time so we can schedule a time. Areas codes in Colombia have changed. To reach our office please call (57) 604-444-6634.