A Comprehensive Overview for Foreigners Moving to Medellín, Colombia
Medellín, Colombia's second city, has transformed from a place once considered the most dangerous in the world into one of the best destinations for expat living. With a vibrant culture, friendly locals, and a lower cost of living, over four million people, including many expats and digital nomads, have made Medellín their home.
Known as the 'City of Eternal Spring', Medellín boasts year-round warm temperatures, reaching 75 to 80 degrees. This pleasant climate, combined with its stunning scenery and affordable real estate, makes it an attractive option for those seeking a change of pace.
The cost of entertainment in Medellín is surprisingly low, allowing expats to enjoy a high quality of life without spending a fortune. From gyms to nightlife, there's something for everyone. The city offers a variety of dining options, with restaurants serving delicious local food from the Antioquia province, as well as international cuisine.
Envigado, a large suburb of Medellín, is a popular expat area known for its welcoming locals and Latin charm. With over 200,000 residents and a thriving commercial district, it's sometimes referred to as Medellín's equivalent of New York's Brooklyn. Envigado is considered very safe, making it an ideal place to settle down.
For those looking to invest in Colombia, there are several visa options available. The Business Visa allows foreigners who establish or acquire shares in a Colombian company to apply, requiring a minimum investment of COP 140,000,000 (approximately US$34,000). The Real Estate Investment Visa requires a minimum investment of COP 455,000,000 (approximately US$110,000) in Colombian real estate. The Direct Foreign Investment Visa requires a minimum investment of COP 845,000,000 (approximately US$204,000), and applicants must provide official foreign investment statements from the Bank of the Republic.
Digital nomads and remote workers may be interested in the Digital Nomad Visa, which requires a monthly income roughly equivalent to around US$1,000. This visa is valid for a maximum of 180 days per year, though extensions may allow longer stays. On the other hand, the Rentista Visa is designed for individuals who receive a steady passive income. It requires a minimum monthly income of at least ten times the Colombian minimum wage (approximately US$3,500), but holders of this visa are not permitted to work in Colombia.
Medellín is well-equipped with modern amenities, including a reliable metro system, making it easy to get around without a car. High-quality healthcare is both affordable and accessible in Medellín, with top-rated hospitals and clinics.
The local people, known as 'Paisas', are warm and welcoming, making it easier to integrate into the community. With its lively culture, growing opportunities for work and education, and potential for low taxes, Medellín offers an appealing lifestyle for those seeking a change. More than just a city, Medellín is a vibrant, welcoming destination that's worth considering for anyone looking to start a new chapter abroad.