Question 1

What is the M-10 Investor Visa?

Accepted Answer

The M-10 Visa is a Colombian residency visa granted to foreigners who invest at least 350 times the minimum wage (approx. COP 500 million or $125,000 USD) in real estate. It typically grants a 1-3 year renewable residency.

Question 2

What are Estratos in Bogota?

Accepted Answer

Bogota classifies residential properties into six 'Estratos' (socioeconomic strata). Estratos 1-3 receive subsidized utilities, while Estratos 5-6 pay a surcharge (tax) on their bills to fund the subsidies. Most expats live in Estratos 4, 5, or 6.

Question 3

How much is the Administration Fee (HOA) compared to Rent?

Accepted Answer

Administration fees for 24/7 security buildings are high, often ranging from COP 500,000 to 1,500,000 per month. When renting, this is usually included in the price. When buying, this is a perpetual monthly foreclosure risk if unpaid.

Bogota: The 'Estrato 6' Wealth Trap or Deal of the Century?