Paul’s argument in Colossians 2:11-12 assume the following three things:

1. Believers are baptized.
2. Those who are baptized are believers.
3. Baptism is immersion.

Allow me to briefly elaborate on each of these assertions.

1. Believers are baptized

You’ll notice in this passage, as Paul addresses the Colossians, he can assume all of them have been baptized (“you been buried with him in baptism, in which you were also raised with him”). It was assumed that believers were baptized, such that Paul can readily appeal to their baptism as part of his argument here. Paul, along with the rest of the New Testament, has no category or conception of an unbaptized believer.

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