Increase in the Minimum Wage in Colombia 2026: the Real Impact on Companies and Visas

The National Government announced the minimum wage in Colombia for 2026, setting it at COP 1,750,905, together with a transportation allowance of COP 249,095, for a total monthly amount of COP 2,000,000.

Beyond the headline, this adjustment has a direct impact on business operations, labor cost planning, and on something many people overlook: the new migration thresholds for visas in Colombia.

For business owners —local or foreign— this is not just an economic figure. It is a variable that changes decisions.

The minimum wage in Colombia: much more than the lowest salary

In Colombia, the minimum wage does not function only as a salary floor.
It is a structural reference for both the labor and migration systems.

With the new 2026 minimum wage, the following are automatically adjusted:

• Payroll costs

   

• Social benefits

   

• Social security contributions

   

• Fines, sanctions, and legal thresholds

   

• Economic requirements for visas

   

For this reason, even companies that do not pay minimum wages still feel the impact.

Immediate impact of the 2026 minimum wage on companies

The new real labor cost

With the minimum wage set at COP 2,000,000 per month (including the transportation allowance), the real cost for the employer is not limited to that amount.

When adding:

• Social benefits

   

• Contributions to health, pension, and ARL

   

• Compensation fund

   

• Other mandatory costs

   

the approximate monthly cost per employee is around:

👉 COP 2,977,047

This figure is key for:

• 2026 budgets

   

• Hiring projections

   

• Price or fee adjustments

   

Focusing only on the “gross” salary often leads to financial mismatches throughout the year.

The domino effect on salary scales

In practice, when the minimum wage increases:

• Internal pressure arises to adjust nearby salaries

   

• Salary scales are rearranged

   

• Gaps between positions are reduced

   

This particularly affects growing companies, where salary ranges are still being consolidated.

The common mistake is to think that the increase only affects those earning the minimum wage.
That is not the case.

The migration impact of the 2026 minimum wage: what many do not see

This is one of the most sensitive points.

In Colombia, many migration requirements are tied to the minimum wage, not to fixed amounts in pesos or dollars.

👉 When the minimum wage increases, migration thresholds increase automatically.

How does the 2026 minimum wage change visa thresholds?

Income-based visas

With the 2026 minimum wage set at COP 2,000,000, the income requirements for several visas are directly adjusted.

For example:

• Visas requiring 3 SMMLV → COP 6,000,000 per month

   

• Economic dependency processes → newly adjusted minimums

   

• Digital nomad and visitor visas → higher monthly income requirements

   

For many foreigners, this adjustment means:

• Recalculating income

   

• Adjusting contracts

   

• Reconsidering the type of visa

   

Employment contract–based visas

For companies sponsoring work visas, the minimum wage increase implies:

• Adjustments to the agreed salary

   

• An increase in the total cost of the foreign worker

   

• A review of the feasibility of the migration process

   

A contract that was valid before the adjustment may now be right at the limit or even below the required threshold.

MIGRATION THRESHOLDS UPDATED WITH THE 2026 MINIMUM WAGE 

All thresholds below are calculated using:

SMMLV 2026 = COP 1,750,905

TYPE V VISAS (VISITOR)

V Visa – Tourism and Student

Requires income equivalent to 10 SMMLV per month
👉 COP 17,509,050 (≈ USD 4,050)

V Visa – Digital Nomad

Requires minimum income of 3 SMMLV per month
👉 COP 5,252,715 (≈ USD 1,215)

V Visa – Business Processes

Requires income equivalent to 10 SMMLV per month
👉 COP 17,509,050 (≈ USD 4,050)

V Visa – Rentista / Annuity

Requires recurring income of 10 SMMLV per month
👉 COP 17,509,050 (≈ USD 4,050)

V Visa – Administrative Procedures

Requires income equivalent to 10 SMMLV per month
👉 COP 17,509,050 (≈ USD 4,050)

V Visa – Temporary Services and Volunteering

The sponsoring entity must demonstrate solvency equivalent to
100 SMMLV, calculated over the last six months
👉 COP 175,090,500 (≈ USD 40,500)

V Visa – Event Participant

Requires income equivalent to 3 SMMLV, evaluated over the last three months
👉 COP 5,252,715 (≈ USD 1,215)

TYPE M VISAS (MIGRANT)

M Visa – Real Estate Investment

Requires a minimum investment of 350 SMMLV
👉 COP 612,816,750 (≈ USD 141,500)

M Visa – Business Owner / Shareholder

Requires a minimum investment of 100 SMMLV
👉 COP 175,090,500 (≈ USD 40,500)

M Visa – Retirement

Requires proof of a lifetime pension equivalent to 3 SMMLV per month
👉 COP 5,252,715 (≈ USD 1,215)

M Visa – Independent Professional

Requires income exceeding 5 SMMLV per month
👉 COP 8,754,525 (≈ USD 2,020)

M Visa – Work

The employer must demonstrate average income equivalent to
100 SMMLV, calculated over the last four months
👉 COP 175,090,500 (≈ USD 40,500)

Why these thresholds change real decisions

These adjustments are not merely formal. In practice:

• Migration processes that previously complied may now be right at the limit

   

• Foreigners must recalculate income and contracts

   

• Companies must review the real cost of sponsorship

   

• Investment projects may require financial restructuring

   

For this reason, analyzing minimum wage, labor costs, and migration as a single system is key to avoiding errors and unnecessary costs.

Companies planning to establish operations in Colombia: a critical point

For foreign companies entering the country, this adjustment is particularly relevant.

The 2026 minimum wage directly impacts:

• The initial financial model

   

• The local hiring budget

   

• The strategy for attracting foreign talent

   

• The company’s migration structure

   

Failing to account for this from the start often leads to reprocessing and costly adjustments.

Common mistakes we see after the minimum wage announcement

In practice, after the announcement, several mistakes are repeated:

• Continuing to use the previous minimum wage in migration processes

   

• Failing to update employment contracts

   

• Not recalculating contributions and benefits

   

• Separating labor analysis from migration analysis

   

The result is usually delays, last-minute adjustments, and avoidable additional costs.

What business owners should review today

With the 2026 minimum wage already defined, it is advisable to review:

• The real impact on payroll

   

• Necessary contract adjustments

   

• Total labor costs

   

• Ongoing or planned visa processes

   

• Internal salary scales

   

An early review helps avoid rushed decisions later on.

Closing: the minimum wage as a strategic decision

The minimum wage announcement usually arrives at the end of the year, precisely when companies are:

• Closing budgets

   

• Planning the following year

   

• Adjusting internal structures

   

• Evaluating changes in advisory support

   

The 2026 minimum wage is not just a number.
It is an adjustment that cuts across business, talent, and migration.

Understanding its full impact allows for clearer decisions with lower risk.