COLOMBIA DIGITAL NOMAD VISA: CHEAPEST IN THE WORLD

Due to the situation our world is currently living in, it is safe to say we no longer exist in the same reality as we did some years ago.

Everything around us has transformed into the actual needs of modern society. And by the hand of a global pandemic, it is obvious how not only reality changed but ourselves, like for example, the ways we think, interact and develop, just life in general.

The pandemic left behind many important lessons, and among them we can easily find the fact that now people are thinking more about mortality, hence, the importance of doing just the things that make you happy and authentically love while you have the time to do so.

One of the most involved fields in this topic would definitely be the work and labor one. It is not a secret that the work field was one that drastically changed with the recent pandemic and the wellbeing principle.

For many, it is not enough now to have an 8-hour daily work routine, 5 days a week or even more, sitting still at an office in some corporate building.

The technological resources we can now access as a culture and its improvement thanks to the pandemic, along with the increased demand of certain specific jobs, is what gave birth to the possibility to work anywhere in the world, this is what being a digital nomad means.

So, essentially, a Digital nomad is a remote worker who usually travels to different locations from where they often work.

What is a Digital Nomad Visa?

As being a digital nomad became a much stronger concept in the past few years than what it might ever have in all history, countries and governments couldn’t stay behind in terms of providing legal bases for it.

Being a digital nomad involves traveling from place to place, after all it is what being a nomad means. So with this in mind, governments came up with a specific visa for these digital workers.

The digital nomad visa, also known as a freelancer visa or remote worker visa, is a special type of visa issued by a host country to those interested in working there, but on a less permanent and more fluid and flexible basis.

How do I qualify for a Digital Nomad Visa?

So, if you happen to be, let’s say, a travel blogger, food blogger, adventure traveler, or expat-preneur your way may be to apply for a digital nomad visa in the country you currently are or plan to visit soon.

The advantages of a digital nomad visa over some other types of visas offered by governments are that it presents a more flexible option for those who are interested in staying in a country but don’t know how long they may stay there.

Generally, digital nomad visas are granted for a period of 6 months to 2 years and some offer an option to be extended.

Generally, digital nomad visas are granted for a period of 6 months to 2 years and some offer an option to be extended.

Why is Colombia the newest popular spot for digital nomads?

Over the past few years South America itself has become more and more popular as a travel destination, and not only that, but also as a living place for many foreigners who found their homes in it.

And among Latin American countries, Colombia is definitely the hot spot paradise who is attracting more and more Digital Nomads.

The reasons as to why this is happening couldn’t be more obvious.

The beauty of Colombia and the kindness of its people has been even award-winning.

COLOMBIA DIGITAL NOMAD VISA: CHEAPEST IN THE WORLD

How long can I stay in Colombia on a Digital Nomad Visa? Do I have to pay taxes?

The answer is yes, but only if you as a foreigner resided more than 183 days per year in the country or you earn income in Colombia and further fulfill other characteristics, unless of course, you already are a foreigner who is considered as a national, belonging to that last previously explained category.

Being a tax resident in Colombia does not automatically mean you are required to report your income, this is, depending on the amount of your income.

What is it like living in Colombia as a Digital Nomad?

Among the weather of its cities and the huge diversity of its landscapes, also lies the fact that the cost of living here for digital nomads presents a huge benefit for their pockets. As we have described in our previous blogs on why moving and living in Colombia became so popular these days, the economical aspect is one of the most attractive ones.

For reference, $1 USD equals, for the day this post is being written, $3,900 COP. Now, with this in mind, and knowing that as a digital nomad you may be getting paid in USD or EUR, the Colombian peso goes a long way for your budget.

With the current currency exchange, you can get lunch for about $5 USD, and pay $1 for a beer. You can pay rent in a nice neighborhood for about $250-$600 USD per month, and include the basic utilities, such as electricity, heat, air conditioning, water, and garbage, that will cost about $75 USD per month.

Here are just some basic needs to kind of enlighten your mind, and if you want to get some deeper insight, we invite you to read our post on living in Colombia, as we further explain living expenses in Colombia.

Among the cities you may want to keep in mind if considering Colombia as your next digital nomad stop, we highly recommend you to visit Medellín, Bogotá, Cartagena, Santa Marta, Cali and Pereira. Of course, you are more than invited to visit every and each one of the cities Colombia has, as every one of them is a unique experience that you will remember.

That, and the cup of Colombian coffee.

Colombia Digital Nomad Visa

When it comes to the actual digital nomad visa in Colombia, unlike many other countries, it hasn’t been implemented by the government yet. You can enter Colombia and stay in the country for a period of 90 days when being a citizen of any the countries of the European Union, USA, Canada, Great Britain, Australia and many other countries we mention at our Colombian visas page.

Still, if your plans are to stay in the country for more than that, and you are in fact a digital nomad, we are happy to say that there is light at the end of the – visa-tunnel. After years of online speculation, the Colombian government paved its way into the Colombian digital nomad visa.

In 2020, Law 2069 creates what is known as work permits for “digital nomads,” in Colombia, including people dedicated to remote work, independent work or teleworking.

And in July 2022, the Foreign Ministry published the Resolución 5477 del 22 de julio de 2022 which includes a visa for digital nomads, which may take place on october 20th 2022.

What are the Colombia Digital Nomad visa requirements?

To work remotely for a foreign company as an independent contractor, freelancer or dependent worker.
Bank statements for the last 3 months proving a monthly income of at least 3 minimum monthly legal wages ($3,480,000 COP or $895 USD, at the date this post is being written).
Letter in English or Spanish issued by one or more foreign companies for which the foreigner provides services, indicating the type of relationship and the type of remuneration received by the applicant (salary, fee, commissions, etc.) as well as the confirmation that mentioned work is performed remotely.
If the parties work under a contract, the applicant must submit a copy of it.
If the applicant is a partner or co-owner of the foreign company, they must prove it with the appropriate legal document(s).
Health insurance with coverage in Colombia including accident, illness, maternity, disability, hospitalization, death, or repatriation for the planned permanence of the foreigner in the country.

We get that Colombian taxes for foreigners may be complicated to understand or difficult to keep up with. This considering the bureaucratic processes, the dates, and even the language itself if you are not so much of a fluent Spanish speaker.

Nevertheless, if you ever consider living or investing in Colombia this information is vital and required for you to know, that’s why Nexo Legal can be your best ally on any tax related activities.

Don’t hesitate to get in touch with us to receive the guidance you need regarding your taxes in Colombia, we will be more than happy to answer your questions and help you from the first to the last step of the way.

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