Colombia Country Profile

Passport Ranking
Passport Score
Visa-free Countries
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North and South America
Capital City

Largest City
Colombian peso

51 million

Life Expectancy
74.9 years
GDP (nominal)
$342.9 billion

Cost of Living
English Proficiency
Very cheap (2/7)
Comfortable (2/5)
Very Dangerous (6/7)
Average (3/5)
Low (4/5)

Taxation Type: Residence-based

Sovereign Research's take:

Colombia is part of the Mercosur, allowing its citizens to obtain residency in any other Mercosur country using a simplified procedure.
As longtime Sovereign Research readers will know, we are fans of Colombia. 

You can almost describe the country as a mini version of Brazil – diverse, friendly, exciting – but more business-friendly.

Decades of civil war with FARC (the communist rebel group) have finally come to an end, and that's very good news for the country.

All the money that was spent on a pointless war is now being pumped into very much needed infrastructure. (For decades, the Colombian government did not want to spend a penny on infrastructure, because they knew FARC would just blow it up.)

Colombia has also come a long way from being the world’s most dangerous country, when the drug lord Pablo Escobar was responsible for a huge part of the Colombian economy.

But safety can still be an issue. Most people find Colombia to be Dangerous (6/7), although we know expats who lived in Medellin (Escobar’s hometown) for years and have never encountered a problem.

The bad news is that Colombia is still a relatively difficult place to do business – although it’s better than Brazil. Mountains of regulations stand in your way, and the tax system is byzantine.

As a place to live, we think Colombia can be amazing (and we don't say that lightly). 

Colombia's cost of living is among the cheapest in the world, and various parts of the country offer varied lifestyle options. 

We personally don’t like Bogota, the country’s capital. The city is enormous, overwhelming, and home to relentless traffic jams.

The second-largest city, Medellín, however, is much more livable. It is known as the “city of eternal spring” thanks to its year-round pleasant weather (the city is situated close to the equator, and at high altitude). 

Several Sovereign Research’s friends live in Medellin and are happy there.

We even conducted a Sovereign Research Total Access event in Medellín back in 2016, and attendees were blown away by how nice, safe and developed the place was.

Cartagena and Santa Marta on the Caribbean coast could not be more different from Medellín. Both boast a very distinct Caribbean vibe, a more relaxed atmosphere and hot, humid weather. 

Colombia is also a great place for medical tourism, and for plastic surgery, in particular. Private healthcare in the country is also top-notch and very inexpensive. .

Service Providers available in Colombia in Sovereign Research's Rolodex:

  • Immigration (residency, citizenship)
  • Tax advice (attorneys and/or accountants)
  • Corporate services (company formation, etc.)
  • Real Estate (agents, lawyers)
Obtain access by signing up for Sovereign Confidential

Colombia inside Sovereign Research resources
(opens in a new window)

27-Jun-2206/27/22A Roundup of Naturalization Rules & Timelines in the Americas Sovereign ConfidentialSMCBlack Paper
15-Jun-2106/15/21Here Are 15 Factors to Consider Before Your International Move Sovereign ConfidentialSMCMonthly Letter
05-Jan-2101/05/21Medical tourism destinations in Latin America Sovereign ConfidentialSMCAlert
05-Aug-2008/05/20How to turn opportunities into freedom - from someone who has done it Sovereign ConfidentialSMCAlert
05-Dec-1712/05/17Medical tourism: Discover high quality, less expensive healthcare options abroad Sovereign ConfidentialSMCAlert
06-Apr-1704/06/17Sovereign Man Country Rankings: The Right Country for YOU, with Simon's insights Sovereign ConfidentialSMCBlack Paper
15-Mar-1703/15/17The unsettling lesson I just learned firsthand… and how you can protect yourself Sovereign ConfidentialSMCMonthly Letter
05-Dec-1612/05/16Colombia: Why this successful entrepreneur calls Medellín the best place to start a business today Sovereign ConfidentialSMCCase Study
26-Feb-1602/26/16Meet FATCA’s even nastier cousin: CRS Sovereign ConfidentialSMCAlert
22-Oct-1510/22/15Medellin, Colombia: You need to know about this place Sovereign ConfidentialSMCMonthly Letter
14-Oct-1510/14/15Colombian residency visa: A fast, flexible, inexpensive option for a very exciting country Sovereign ConfidentialSMCAlert
06-May-1505/06/15How to obtain residency in the modern El Dorado - Colombia Sovereign ConfidentialSMCAlert
16-Apr-1504/16/15Why Chile, Colombia and Panama are great options for residency and for doing business Sovereign ConfidentialSMCMonthly Letter
03-Jun-1406/03/14Cartagena, Colombia: Another undervalued real estate market you should know about Sovereign ConfidentialSMCAlert
12-Mar-1403/12/14Medellin, Colombia: A global entrepreneur hub in a thriving country Sovereign ConfidentialSMCAlert
15-Jan-1301/15/13Solutions to Agricultural Challenges Sovereign ConfidentialSMCAlert

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