Medellin, Columbia

Visa Requirements

• Tourist Visa
  Most nationalities, including the US, EU, UK, Canada, and Australia, can enter Colombia visa-free for up to 90 days. Extensions for another 90 days can be requested online through Migración Colombia.
• Visa on Arrival
  While most visitors don’t need a visa before arrival, check with the Colombian embassy in your country if specific entry requirements apply to you.
• Digital Nomad Visa
  Colombia launched a digital nomad visa in 2022. Applicants need proof of remote work, income of at least $684/month, and health insurance. This visa allows stays of up to two years, making Medellín a popular base for remote workers.

More information may be found through the website of the Colombian Ministry of Foreign Affairs.

Cost of Living

Accommodation

• Budget: Hostels or shared apartments: $200-$400/month.
• Mid-Range: Furnished apartments in neighborhoods like Laureles or Envigado: $500-$1,000/month.
• Luxury: High-end condos in El Poblado: $1,500+/month.

Food

• Budget: Local restaurants (menu del día): $2-$5 per meal.
• Mid-Range: Trendy cafes and casual dining: $10-$20 per person.
• Luxury: Fine dining experiences: $30-$80 per person.

Transportation

• Metro: $0.70 per trip.
• Taxis: $3-$10 for most trips.
• Rideshares (e.g., Uber, Didi): $2-$8.

Healthcare
Colombia has excellent private healthcare. A consultation with a specialist costs $30-$50, and health insurance plans start at $30/month for expats.

Climate & Weather

Medellín’s climate is spring-like year-round, with temperatures averaging 22°C (72°F). The city has two main seasons:

• Dry Season (December-March, July-August): Sunny and ideal for outdoor activities.
• Rainy Season (April-June, September-November): Frequent afternoon showers, but mornings are typically clear.

This consistent weather makes Medellín a great destination at any time of the year.

Landscape

Medellín’s setting in the Andes Mountains offers stunning natural scenery. The city is surrounded by verdant hills and coffee plantations. Nearby attractions include:

• Arví Park: A lush nature reserve accessible by cable car.
• Guatapé: A picturesque town with the iconic El Peñón rock and colorful streets.
• Santa Elena: Famous for its flower farms and traditional culture.

Things to Do

Heritage Sites

• Plaza Botero: An open-air museum showcasing the works of Fernando Botero.
• Museo de Antioquia: Medellín’s premier art museum.
• Comuna 13: A neighborhood transformed through street art, community projects, and history tours.

Adventure Activities

• Paragliding over the Aburrá Valley for breathtaking views.
• Hiking in the nearby Andes Mountains.
• Day trips to coffee farms for an immersive coffee-making experience.

Nightlife

• Visit trendy bars and nightclubs in El Poblado and Laureles.
• Salsa dancing at Son Havana or Dulce Jesús Mío.
• Attend live music events featuring traditional Colombian rhythms.

Wellness Retreats

• Yoga studios like Flying Tree Yoga.
• Spa treatments at luxury hotels such as The Charlee.
• Day trips to thermal baths like Santa Rosa de Cabal.

Shopping

• Local Markets: Mercado Minorista for fresh produce and artisanal goods.
• Malls: Santa Fé and El Tesoro for international brands.
• Handicrafts: Look for handmade jewelry, textiles, and ceramics at craft fairs.

Lifestyle

Life in Medellín strikes a balance between work and leisure. Cafes and coworking spaces buzz with activity, while weekends are often spent exploring nature or enjoying local events.

The Paisas (locals) are known for their hospitality. Learning basic Spanish and participating in cultural events like Feria de las Flores can help expats integrate more easily.

Other Important Locations in Colombia

• Bogotá: The capital city, known for its museums and vibrant arts scene.
• Cartagena: A UNESCO World Heritage site with colonial architecture and Caribbean beaches.
• Cali: Famous for its salsa music and nightlife.
• San Andrés: A tropical island paradise in the Caribbean.
• Zona Cafetera: Colombia’s coffee-growing region with charming towns like Salento.

Rental Accommodations

• Budget: Shared apartments or hostels ($200-$400/month).
• Mid-Range: Furnished apartments in Laureles or Envigado ($500-$1,000/month).
• Luxury: High-end condos in El Poblado with amenities like pools and gyms ($1,500+/month).

Co-Working Facilities and Costs

Medellín is a hotspot for remote workers, offering numerous coworking spaces:

• Selina: A popular chain offering flexible memberships starting at $100/month.
• La Casa Redonda: A creative coworking space with an artistic vibe.
• Tinkko: High-end spaces in El Poblado, starting at $150/month.

Connectivity

• Wi-Fi: Medellín has excellent internet infrastructure, with cafes, restaurants, and public spaces offering free Wi-Fi. Most accommodations include high-speed internet.
• SIM: Claro, Tigo, and Movistar provide prepaid SIM cards with affordable data plans. SIM cards can be bought at official stores or kiosks with minimal registration requirements.

Volunteering Opportunities

• Education: Teach English or work with youth programs.
• Community Development: Assist with social projects in Comuna 13.
• Environmental Conservation: Participate in reforestation and urban gardening projects.

Explore more opportunities at www.volunteerhq.org or on local volunteer organizations’ websites.

Local Employment Options

• Teaching English in private schools or institutes.
• Freelancing in content creation or digital marketing.
• Jobs in international call centers or BPOs.

Real Estate Investment Options

• Residential Properties: Invest in apartments or houses in popular neighborhoods like El Poblado.
• Vacation Rentals: Capitalize on the city’s growing tourism by renting out properties on Airbnb.
• Commercial Spaces: Opportunities in hospitality, retail, and coworking spaces.

Start-Up Ecosystem

Medellín’s start-up scene is thriving, with support from organizations like Ruta N. The city focuses on innovation in sectors such as fintech, software development, and green energy. Coworking spaces and networking events foster collaboration among entrepreneurs.

Business Setup Process for Expats

1. Choose Your Business Structure

• The first step is determining the type of business entity you want to establish in Medellín. Common options for foreign entrepreneurs are:
  • Sociedad Anónima (SA): A joint-stock company, commonly used for larger businesses.
  • Sociedad Limitada (LTDA): A limited liability company, ideal for small to medium-sized enterprises.
  • Sucursal de Sociedad Extranjera: A foreign branch office, allowing foreign companies to operate in Colombia.
  • Emprendedor Individual: A sole proprietorship, if you plan to run a business by yourself.

2. Register Your Company

• Register your company with the Chamber of Commerce (Cámara de Comercio) in Medellín. You will need to:
  • Choose a business name.
  • Draft and notarize your company’s bylaws.
  • Obtain a tax identification number (NIT) from the National Tax and Customs Directorate (DIAN).
  • Pay registration fees based on your company’s capital.

3. Obtain Licenses and Permits

• Depending on your business type, you may need specific permits to operate legally. Common licenses include:
  • Municipal business license (Licencia de Funcionamiento) from the local government.
  • Health and safety permits if you plan to operate in the food or hospitality sectors.
  • Environmental permits for businesses that impact the environment.

4. Open a Bank Account

• Open a local business bank account in Colombia to manage company finances. Most banks require:
  • Proof of company registration.
  • Company’s NIT.
  • Identification documents of the company’s legal representative.

5. Register for Taxes

• As a business owner, you’ll need to register with DIAN for tax purposes. The main taxes businesses are subject to in Colombia are:
  • VAT (IVA): Applies to most goods and services.
  • Corporate Income Tax: Based on your company’s income.
  • Payroll Tax: For employees, including social security contributions.

6. Hire Employees and Register for Social Security

• If you plan to hire employees, you must register them with Colombian social security
• Employees must have a formal work contract, and you must comply with Colombia’s labor laws.

7. Obtain Business Insurance
8. Comply with Accounting and Reporting Obligations

• Colombian businesses must maintain accounting records in line with International Financial Reporting Standards (IFRS). Ensure you comply with periodic tax filings and reporting obligations for your business’s financial activities.

9. Explore Incentives for Foreign Entrepreneurs

Business Opportunities in Medellín

Medellín offers a range of business opportunities, particularly in the following sectors:

• Technology and Innovation: Known as the “Silicon Valley of Latin America,” Medellín has a thriving tech ecosystem. Startups focusing on software development, AI, and fintech have great potential due to support from incubators like Ruta N and access to skilled professionals.
• Tourism and Hospitality: Medellín’s rising status as a global destination opens opportunities in boutique hotels, eco-lodges, guided tours, and innovative travel experiences.
• Real Estate: Investment in residential and commercial real estate is booming. Areas like El Poblado and Laureles are particularly lucrative for vacation rentals or expat housing.
• Education: With a growing number of digital nomads and expats, English language institutes, online education platforms, and coworking spaces are in high demand.
• Agribusiness: Colombia’s fertile land offers opportunities in coffee production, flower exportation, and organic farming.
• Green Energy: Medellín’s sustainability initiatives encourage investment in renewable energy projects, such as solar, wind, and hydroelectric energy.

Medellín’s pro-business environment, combined with tax incentives for innovation-based enterprises, makes it an appealing destination for entrepreneurs.