Running my own company with an Investment Visa

getting better says on Jul 6, 2007, 12:48:

You guys know more than me but I think before you apply to the CC you need to go to the DIAN to get a RUT number. Not too difficult and I got it with a tourist visa, but I think that it is needed.

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usher127 says on Jul 6, 2007, 12:49:

Thanks... I can't believe there is yet another explanation of how to get the mysterious business visa. I'm going to cry in a minute. 7 days!? Most people tell me it takes several months. Really, I cant take anymore.

Does anyone have an answer to my original question? Sob Sob.

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pura vida mike says on Jul 6, 2007, 12:57:

I got a business visa in about 1 month with no major expense. If you have a company in the US, you can apply to get a business visa through the consulate to do business in Colombia. I had to provide some certified documents that took a few weeks, but I had the visa when I left the consulate. The process is on the consulate website.

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usher127 says on Jul 6, 2007, 13:03:

Unless i'm prepared to leave Colombia and come back, i'm told it requires an investment of 45 million pesos. I'd rather put my money into a flat.

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pedro says on Jul 6, 2007, 13:20:

Where are you getting your advice? Through a lawyer? Friends? Or just over the internet? Have you looked on the minrelext website? Do you speak Spanish?

It would help to be clear about which business visa you mean, because you are talking about "temporal especial - socio" and other people are talking about "negocios". The US$100k visa is "inversionista".

What makes you think wiring in US$100k and registering it with the Banco de la Republica is going to be easy? Do you have a Colombian bank account open where you can receive the money? Have you got advice about whether you'll get caught up in the capital controls that came in during May? If you have, I would be interested to hear it, for my own knowledge.

The 44 million peso investment is true. However that is just capital, you can buy a car and put it in the company books, or a house, shares, whatever. The company is pretty easy to open (relatively). You would have to do some ongoing compliance by filing income statements and tax returns for the company.

If you have a permanent visa as an inversionista, you can open you company and no need to apply for a business visa.

No matter which of the above visas you apply for, you still need to leave Colombia. Unless you are already there on a valid visa (not tourist).

"this may seem a strange post but it is not...when in colombia men need to be aware that colombia women may try to be seductive and entice a travelling gringo to have sex with them..to be forewarned is to be forearmed..." -- pow wow

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pedro says on Jul 6, 2007, 13:24:

On second thoughts, I wonder why you even want to run a business in Colombia? You haven't even started the initial paperwork, and already you're losing your nerve?

If you open a real trading business in Colombia, that will be your experience on any given day. Non stop time and hassle. Groundhog day.

"this may seem a strange post but it is not...when in colombia men need to be aware that colombia women may try to be seductive and entice a travelling gringo to have sex with them..to be forewarned is to be forearmed..." -- pow wow

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usher127 says on Jul 6, 2007, 13:41:

I have sort advice from lawyers, friends and the web. My spanish is ok, but seemingly not good enough to deal with Visa information. I am loosing my nerve slightly because I cant seem to get consistent info about aquiring the business visa. Either way, I dont have 45 million pesos to invest in things that I dont need. Though I'm prepared to spend 100k on property.

I dont yet have a bank account. I assumed, that when I buy the property, I can send the money directly to the seller's account. At least, that is the advice I have received. I planned to open a bank account after I get the investment visa.

I am currently on a student visa until Nov. Presumably, if i buy a house before then, I wont need to leave the country?

Finally, thanks for answering my question. Capitol controls!!!??? Go on...

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latinlife says on Jul 6, 2007, 16:01:

Just got a business one year renewable visa in the consulate in London , I have a limited company in England so all I had to do was show I had sufficient money, copy of my incorporation and a letter to the consul showing that I will be possible looking to make investments in Colombia...total time 2 hours..............the consul told me I could have got this visa in panama or adjoining country.

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Timba says on Jul 7, 2007, 08:23:

Having seen this a number of times, I do believe that you have to deposit roughly USD$30,000 into your Colombian bank account for purposes of the business. You also have to set up a company and have an accountant to run your books.

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Miguel_Clavo says on Jul 7, 2007, 11:04:

If you own a foreign business (non-colombian) and you open a branch in Colombia, you can get a Business Visa for dirt cheap and no investment money other than what you spend on opening the branch.....reading the requirements from the Colombian consulates or embassy might really help some of you.........=)

"So Many PBH Potatoheads.......So Little Time"......El Titiritero (The Puppeteer).....www.slapdoll.com

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pedro says on Jul 7, 2007, 11:59:

Start here:

http://www.minrelext.gov.co/wps/portal
Tramites o Servicios -> Tramites -> Visas.

Click through all the links. Whoever is telling you that the process with the consulate for the business visa is harder than the investor visa is wrong. Whoever is telling you that it takes several months to get the business visa is wrong. I did it in eight days.

If you are serious about starting a business, then you will need competent professional advice. Start by finding a good accountant. Print out the visa requirements for "temporal especial - socio" and ask them how easy it would be to draw up a set of accounts that satisfy the requirement. Mine cost 50k pesos.

If you want the investor visa, you will need to register your US$100k investment in your own name with the Banco de la Republica. Now I have not done this, but the obvious question is: can you register the investment once you've already bought the house, and no longer have the cash? Shouldn't you be registering it when you have the money in cash in Colombia? And how will you do this when the money is either outside the country or has already gone to the seller? Once again, I have no personal experience in this, would be interested to know the answer if you have it.

"this may seem a strange post but it is not...when in colombia men need to be aware that colombia women may try to be seductive and entice a travelling gringo to have sex with them..to be forewarned is to be forearmed..." -- pow wow

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Shanidar says on Jul 11, 2007, 09:49:

I would have had mine in a week, but I found out I just didn't need it.

I know of americans operating in Medellin under the visa that lets you "expand" your US business into Colombia. These people's US business location is a MailBoxes R Us and a phone number.

Everything is possible, but you may have to make several calls... Call the consulate now and get the real info

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