Retiring in Colombia: a complete guide to life, costs, visas, and top locations
Thinking about making Colombia your next chapter? You’re not alone. With over 60,000 US citizens now calling this South American gem home, the country has become a magnet for expats drawn to its affordability, culture, and slower pace of life.
In this guide, we’ll walk you through everything you need to know about retiring in Colombia – from visas and healthcare to taxes and lifestyle tips – so you can plan your move with clarity and confidence.
Why so many retirees pick Colombia
-
Affordable lifestyle with quality of life
Retirees can live well on $2,000 per month - while enjoying private healthcare and fresh, affordable food. -
Diverse climate and natural beauty
From Cartagena’s Caribbean coastline to Medellín’s eternal spring temperatures, Colombia offers expats a range of climates including rainforests, mountains, and coffee-growing valleys. -
Growing expat communities
Cities like Medellín and Santa Marta are home to thriving expat circles, making it easy to build connections, attend events, and integrate into local life. -
Modern infrastructure and amenities
High-speed internet, metro systems, and international airports make Colombia one of the top places for retirees seeking comfort, access, and convenience.
Retire in Colombia: pros and cons US expats should know
Before you decide to retire in Colombia, it’s worth weighing the upsides and challenges - especially when your retirement income or Social Security check is on the line.
Pros: why you should retire here
- Low cost of living: Expats often live well on $1,500 –$2,000/month, with daily expenses nearly 60% lower than in the US.
- High-quality healthcare: Ranked among the best in Latin America, Colombia’s private plans are affordable and modern – a major perk for those who choose to retire in Colombia.
- Welcoming culture: Friendly locals and a growing expat community, especially in Medellín, make settling in easier.
- Vibrant lifestyle: From music and food to mountain hikes and Caribbean beaches, retirement here never feels dull.
Cons: be mindful of this
- In cities like Pereira and Bucaramanga, limited English fluency means non-Spanish speakers may struggle with everyday tasks like grocery shopping, doctor visits, and bank appointments.
- Applying for Colombia’s M-11 retirement visa or EPS healthcare often takes 4 – 6 weeks and requires in-person visits, notarized documents, and patience with slow-moving bureaucracy.
- While Medellín’s Poblado district is relatively safe, areas like downtown Bogotá and parts of Cali still report high rates of petty theft, especially on public transit or after dark.
- Smaller towns like Salento and Minca may charm with scenery, but frequent power outages and subpar internet can frustrate retirees relying on digital banking or remote communication.
US vs. Colombia: cost comparison for retirees
For many US retirees, Colombia offers not just a vibrant culture and scenic beauty – but also an impressively low cost of living. From daily groceries to long-term housing, your dollar can go much further here than back home.
| Expense category | Colombia | United States | Colombia is... |
|---|---|---|---|
| Housing (rent) | $366/month | $1,742/month | 79.0% lower |
| Utilities | $85/month | $208/month | 59.1% lower |
| Groceries | $300/month | $735/month | ~59.2% lower |
| Transportation | $70/month | $150/month | 53.3% lower |
| Dining out | $150/month | $425/month | 64.7% lower |
| Internet & mobile | $33/month | $129/month | 74.4% lower |
(Cost of living data sourced from Numbeo.)
Compared to the US overall, Colombia’s total cost of living is about 63.8% lower when rent is included, and 57.1% lower without rent. That alone can free up thousands annually for travel, hobbies, or a better quality of life.
Renting vs. buying in Colombia
- Rent a 1-bedroom in a city center like Medellín for ~$366/month – dramatically lower than US equivalents.
- Buying property in urban zones costs ~$1,574 per square meter – over 50% cheaper than in the US.
Getting around and everyday spending
- Public transportation averages just $0.73 per ride or $39/month.
- Groceries like chicken ($5.18/kg) and bread ($1.39/loaf) make weekly shopping affordable.
- Basic utilities cost around $85/month, while internet and mobile plans start at $33/month.
City-to-city cost differences
- Santa Marta vs. Medellín: Santa Marta is 13.2% cheaper overall and 17.9% lower in rent.
- Bogotá vs. Cartagena: Bogotá offers 18.1% lower costs overall and 22.4% cheaper housing.
Pensionado: Colombia’s retirement visa
If you're a US citizen considering a move to South America, the Colombia retirement visa is the most accessible visa option available – especially for retirees with passive income.
Colombia’s M-11 visa for retirement offers American citizens the ability to live in the country for up to three years at a time, with the flexibility to renew as long as eligibility requirements are met. Unlike employment-based pathways, this visa is tailored for retirees drawing steady income from pensions, Social Security, or investments.
| Eligibility | US citizens aged 18+ with passive, non-employment income. |
| Income requirements | Minimum income of 3x Colombia’s monthly minimum wage – about $970 USD in 2025. |
| Required documents | Valid passport, proof of income, clean criminal record, health certificate, and private health insurance. |
| Renewal | Valid for 3 years and renewable indefinitely. |
| Long-term residency options | After 5 years under an M visa, retirees may apply for permanent residency. |
Applying for a retirement visa in Colombia
The Colombia retirement visa process is straightforward for United States expats – but timing, paperwork, and accuracy are key.
Step 1: Confirm you're eligible by showing proof of passive income – such as a pension or social security – of at least $970 USD per month.
Step 2: Collect required documents including your passport, income statements, background check, health certificate, and private health insurance.
Step 3: Submit your retirement visa application online through Colombia’s Ministry of Foreign Affairs platform.
Step 4: Wait about 30 days for a decision – though processing times can vary, so plan ahead.
Step 5: After approval, register with Migración Colombia within 15 days of arriving to activate your legal expat status.
Where to retire in Colombia – best places for USA retirees
From colonial coastlines to lush mountain valleys – these are the Colombian cities US expats can’t stop talking about.
Medellín – spring-like weather and modern comforts
With 2.5 million residents, this locale is Colombia’s most transformed city. Its metro, healthcare, and cable cars make everyday life efficient and affordable.
The expat community is thriving, especially in El Poblado and Laureles. Expect to spend $1,300 – $1,800 per month for a comfortable lifestyle.
Santa Marta – tranquil beach life
Santa Marta offers peaceful Caribbean charm with a local population of about 500,000. The expat presence is small but growing – especially among nature lovers.
It’s generally safe, though isolated beaches require caution. Retirees here typically spend $1,200 – $1,600 monthly.
Cartagena – colonial charm by the sea
With 1 million residents, Cartagena blends old-world architecture with modern amenities. It has an active expat scene drawn to the city’s beauty and walkable neighborhoods.
Safety is strong in tourist zones – petty theft is the main concern. When retiring in Colombia, monthly costs typically range from $1,400 – $1,900 depending on lifestyle.
Pereira – nature, peace, and affordability
Pereira, home to about 500,000, is a hidden gem in Colombia’s coffee region. It’s calm, scenic, and especially welcoming to nature-minded retirees.
Expats here enjoy lower costs and safer neighborhoods – one of the many perks of retiring in Colombia. Monthly living expenses are typically under $1,300.
Bogotá cultural richness or capital energy
Bogotá – Colombia’s capital with 7 million residents – is bold, diverse, and full of culture. It’s not a top retirement choice, but urban expats enjoy its museums and restaurants.
Safety varies widely by neighborhood – Zona G and Chapinero are popular and secure. Living costs range from $1,700 – $2,200 per month.
Healthcare in Colombia
Colombia ranks 22nd globally for healthcare quality – ahead of countries like Canada – and boasts 97% medical coverage across its population. For those who retire in Colombia, access to both public EPS insurance and private care is seamless, with public premiums averaging just $70 – $85 per couple monthly.
Private insurance plans often run around $50 per month – a fraction of what retirees would pay in the US. Cities like Bogotá and Cali lead the charge with advanced hospitals such as Pablo Tobón Uribe delivering world-class care. For those retiring in Colombia, high satisfaction scores for staff friendliness, modern equipment, and quality of treatment mean you get premium healthcare without the premium price tag.
What retirees must know about paying taxes in Colombia
Do you pay tax on foreign income when retiring in Colombia? The answer depends on your residency status and the source of your income.
Colombia uses a presence-based system – spending more than 183 days in a 365-day period makes you a tax resident liable for taxes on worldwide income, though exemptions apply for certain annuity income. With the right strategy, your dream of retiring in Colombia can stay stress-free and financially sound.
US citizens: tax guide for Colombia retirees
| Tax factor | Colombia | United States |
|---|---|---|
| Residency rule | Tax resident if you spend 183+ days in a 365-day period | Citizen-based taxation: file regardless of residence |
| Tax basis | Residents: worldwide income Non-residents: Colombian-source only |
File worldwide income |
| Social security taxation | First ~$10,076 of superannuation income is tax-exempt for residents | Up to 85% of Social security may be taxable based on total income |
| Roth IRA/401(k) withdrawals | Not taxed if not Colombian-source | Withdrawals from Roth accounts are tax-free |
| Standard personal income tax rates | Progressive: 0% – 39% | Progressive: 10% – 37% |
| Capital gains | 15% | 0% – 20% |
| Property taxes | 0.5% – 1.2%, based on location and value | Varies by state |
| Filing obligation | Declaración de Renta if thresholds are met (e.g., COP 59M income) | Must file Form 1040 annually if above minimum threshold |
Heads up, expat filers! US citizens living abroad must file by June 15 (June 16 in 2025). But here’s the catch – taxes are due April 15, no matter when you file. Want a stress-free extension until October 15? Just file Form 4868 – or skip the paperwork and use our free tax extension service. We’ve got your back.
Double taxation treaties
Colombia and the US do not have a tax treaty – meaning, you could be taxed by both countries on the same income. Fortunately, tax credits like the foreign tax credit can help offset what you owe the IRS. Learn more about treaties and tax coordination on the IRS website.
Practical tips for tax planning
- Track your stay in Colombia – Once you cross 183 days in a 365-day window, you’re a tax resident and must report worldwide income.
- Use retirement accounts wisely – Withdrawals from Roth IRAs and 401(k)s are tax-free in the US, which can reduce your taxable footprint.
- Plan currency transfers smartly – Services like Wise can minimize fees and help you move funds between Colombian and US accounts efficiently.
Also read - Understanding taxes in Colombia
Why retiring in Colombia – is a dream worth living
Colombia offers more than just affordability – it delivers vibrant culture, top-tier healthcare, and a stunning quality of life. You can live well on a modest budget, enjoy tax perks, and stay connected to US comforts. If you’re looking to retire, then this country checks so many boxes.
At Taxes for Expats, we help United States retirees stay IRS-compliant, maximize Social Security benefits, and sidestep costly tax blunders. With our expert support, you can retire in Colombia confidently – and focus on what really matters: enjoying your new life.
FAQ
To retire in Colombia under the public pension system, men must be 62 and women 57. You’ll also need a minimum contribution period to access local retirement benefits.
Ensure you’re vaccinated and protected against mosquito-borne and water-related illnesses. Talk to your doctor about dengue, hepatitis A, and typhoid prevention.
If you’re working while living abroad, you can exclude up to $130,000 in 2025 using the FEIE. This is a major tax benefit for retirees who keep part-time income streams.
