Last Updated May 7, 2021
Colombia is an easy country to get second citizenship in, and the process takes about five years. Colombia is a very foreigner-friendly country, and an investment in real estate or into a Colombian company is required.
Why get second residency in Colombia?
- You can apply for Colombia citizenship after five years
- The process of obtaining residency is relatively quick
- You do not need to relocate to Colombia to maintain residency
- Colombia speaks Spanish, an easy language to learn
How it works
Time to Citizenship: 5 years
Economic Citizenship: Yes
Minimum Investment: investment of approximately $170,000 in real estate or a Colombia company
Nationalities Allowed: All
Taxes and Costs
Cost of living: $1,500+
Income Tax Rate: 0-39%
Taxes Foreign Income: Yes
The Colombia Passport
Visa Free Countries: 129
Can Visit Europe: Yes
Can Visit the US: No
Why Colombia citizenship?
Colombia is a beautiful, underrated South American country. Once you obtain residency in Colombia, you have the right to live and work there for life. In order to keep your residency status, you will need to visit the country once every two years for at least one day.
The time required to become a citizen is only five years, and a Colombian passport gives you visa-free access to the Schengen zone.
How to get second citizenship in Colombia
You must first obtain permanent residency with an investment of approximately US$170,000 in Colombian real estate or a Colombian company. After five years as a permanent resident, you and your family may apply for naturalization.
Colombia allows dual citizenship, so you do not need to renounce your current citizenship to become a Colombian citizen. Colombia’s policy of jus soli – or “right of the soil” – means that children you give birth to while in Colombia will obtain Colombia citizenship at birth. Being a parent of a Colombian citizen could shorten your own path to citizenship to just two years.
Colombia is a country in northern South America, bordered by Venezuela, Brazil, Peru, and Panama. Nearly 50 million people live in Colombia, with more than seven million living in the capital city of Bogota.
Although it has a history as one of South America’s most dangerous countries, Colombia has experienced great economic growth in recent years. The country’s economy is one of the freest and most open in the region. Also, Colombia is easily accessible from Europe.
Taxes and cost of living in Colombia
Colombia’s corporate tax rate is 31% but it will decrease to 30% in 2022. Personal income tax only needs to be paid after five years of actually having lived in the country.
There is no in-country presence requirement in order to maintain your second residency or work toward your second passport. Nevertheless, it is possible to live for as little as $1,500 per month. Local food is cheap and plentiful, and transportation is affordable.
Why Nomad Capitalist?
Our team is made up of entrepreneurs and investors just like you. We know why you’re going offshore and we know what you need. Because we speak your language, we make sure you get the best advice possible before going offshore.
Nomad Capitalist offers unbiased advice on second residencies both on our website and in offline consulting calls.
We don’t represent one particular country or peddle only one option. Instead, we listen to your needs and determine a holistic residency and passport solution based on your budget, current citizenship, and future goals.
Are you ready to get a second residency and passport? Click here to apply for a consultation so we can help you cut through the clutter and get the expert advice you need.