Legally Retire in Colombia- What Everyone Needs To Know

Get the details on the Colombia’s Retirement Visa with NO minimum age limit. This Real Estate Investment visa has low income requirements & minimal docs. minutes

01/04/24

  Mins Reading Time

About the author

Hi, I'm Marco Sison. I worked in finance for Fortune 50 companies before retiring early at 41 years old. I have been an expat for over 10 years, living in over 50 countries to show you the best ways to save, invest, and live in amazing countries outside the USA. I am a trusted resource on personal finance and overseas retirement for US News & World Reports, HuffPost, MSN Money, USA Today, ABC Network, Yahoo Finance, Best Life, Association of MBAs, and the iTunes documentary Seeking FIRE.

Colombia Retirement Visa Key Summary: 

With No Minimum Age, Minimal Documentation, and Low Income Requirements, Colombia’s Retirement Visa is Perfect for Early Retirement.

This post may contain affiliate links. I may get a commission if you purchase something using my link. Please note, there is NO ADDITIONAL COST to you. For more information, please see my disclosure.

6 Quick Tips To Prepare For A Move To Colombia

TIP 1. Understand Colombia's visa policy- A decade of experience living abroad taught me that a country's resident visa and permit situation can make or break a plan to move overseas. Chat with a Colombian visa attorney.

TIP 2. Know your health insurance requirements- Starting July 2022, the government requires all expats living in Colombia to purchase specific medical coverage that includes accidents, illness, hospitalization, disability, repatriation, maternity, and death. 

TIP 3. Save On Moving CostsInternational moves can get expensive. Save hundreds of dollars by getting accredited moving companies to compete for your business. Fill out a quick form, sit back and let our moving partners get you five free moving quotes from trusted and reliable international moving companies.

TIP 4. Set up a Traveling Mailbox- Change all your critical mailing addresses to a traveling mailbox. Don't lose an important tax return, bank statement, credit card, or government document in the mail. Sign up for a virtual mailbox, and you can keep a permanent US mailing address and check your mail via your phone or PC.

TIP 5. Prove your onward ticket- If you only have a tourist visa Colombia requires a mandatory departure ticket. You need a onward travel with a date leaving the country before your visa expires. Save money by using  an onward plane ticket for just $16

TIP 6. Pick up some Spanish Skills- The most common difficulty experienced by expats in Colombia is English being less common than expected. Only 4% of the country speaks English. You can get a free 7-day Spanish language crash course to make your move to Colombia easier.

Other Guides On Expat Life In Colombia

Colombia Identification Card: How Expats Get A Cedula De Extranjería
Colombia Digital Nomad Visa Requirements: How to Apply, Work Remote, And Live Cheap
How To Rent Apartments In Medellin Without Getting Scammed
How To Get Health Insurance In Colombia As A Foreigner
Expat Guide To Medellin Nightlife: Best Clubs, Party Areas, Bars, and Dancing
The Best Medellin Salsa Clubs [2023]
The Complete Expat Guide On How To Buy A Car in Colombia
How To Apply For A Colombia Tourist Visa [2023]
The Top 26 Reasons Why You Must Visit Colombia [2023]

Page [tcb_pagination_current_page] of [tcb_pagination_total_pages]

Page [tcb_pagination_current_page] of [tcb_pagination_total_pages]

Living in Colombia: Quick Facts <click to expand>

Retire to Colombia and sleep on the beach at Tayrona National Park

Sleeping between the jungle and the sea. Our little slice of heaven at Tayrona National Park.

While still off the beaten path for most world travelers, the torrent of accolades for Colombia won’t let it stay a “hidden gem” for long. Forbes included Colombia in its list of “Coolest Places to Visit.“ CNN awarded Medellin as “One of the Five Best Cities to Retire.” While the New York Times named Colombia the number two country to visit in 2018.

Did You Know Most Expats In Colombia Need 3 Types of Health Insurance?

Starting in July 2022, the government passed a law requiring specific medical coverage for foreigners staying in Colombia. Click the button below to ensure you are legally staying in Colombia.

Need more reasons? Daily living costs are some of the lowest I have experienced in my travels. You can find a luxury penthouse apartment with steam room, sauna, swimming pool, fitness center, maid service and a doorman for $600 a month per month, utilities and furnishing included. Even the high end of my expenses in a fantastic city like Medellin was only ~$1800 per month. Most expats can live very comfortably between $900 to $2000 per month for ALL living expenses.

Moving to Colombia doesn't necessarily mean being far away from family and friends. If you need to fly home for a friend’s wedding or to spend Christmas with family, it is roughly a $100 3-hour non-stop flight from Colombia´s major cities of Medellín, Bogotá, or Cartagena to Florida.

Need to sing Happy Birthday to your nieces and nephews on the phone, Colombia is on the same time zone as the East Coast of the US. No need for midnight phone calls and sleepy-eyed hellos over Skype. 

For a metropolitan city, Medellin's views are hard to beat

A Graffiti Art Tour of Comuna 13 is a must see in Medellin

Wander La Candelaria and visit heart of Bogota's museums and art scene

The rainbow hued streets of Cartagena Colombia

Enjoy the rainbow hued streets of Cartagena

Additionally, Colombia has one of the top healthcare systems in the world, ranked higher or on par with the US and Canada.

Medellin, Bogota, Cartagena are just a few of the diverse and amazing locations to visit in Colombia. Colombia is the second most bio-diverse country in the world. You can choose to live in the warm, tropical Caribbean coastal cities, in the cool mountain cities of the Andes, near the lush coffee plantations of the interior, or visit the lesser-known wild nature available on the Pacific coast. Colombia makes it easy to visit the country and provides several alternatives for FIRE Nomads to Retire Early and legally stay long term for a monthly cost 70% less than the US.

Tired of endless hours spent researching complicated visa requirements?

Knowing how frustrating it is to navigate a foreign country's immigration process, I started a new visa service to make life easier for expats who want to live and retire abroad,

I pre-screened and carefully selected Colombian lawyers with decades of expertise helping expats like you cut through the government red tape, clarify the visa options, and ease your worries about moving to a new country.

Colombia Retirement Visa Details

For most strong passport holders (Americans, Canadians, and Europeans), no visa is required to visit Colombia for 90 days or less. These 90 days can be easily extended for an additional 90 days (for 180 days total) without leaving the country for a visa run. However, 180 days in a calendar year is the maximum any foreigner can stay in Colombia without a visa. 

The good news is there are several options for a long-term Colombia Retirement Visa. Migrant Visas (M) are renewable long stay visas with a duration of three years. M Visas are obtainable for several reasons (marriage, student, work, refugee, etc.), but three specific types of M Visas cater perfectly for people looking at Early Retirement in Colombia. There is also an Resident (R) Visa for Real Estate Investors looking to build a path to Colombian Dual Citizenship.

Retire in Cartagena Colombia to watch beautiful sunsets by the Fort

Enjoy Beach side Cocktails and Orange Sunsets on the Old Walls of Cartagena

1) Requirements for Colombia Retirement Visa- MIGRANT (M)

  • Be at least 18 years old.
  • Meet the minimum income requirements of $774 (Government Pension) or $2,579 (Other Private Income Sources) per month.
  • OR Invest in Colombian Real Estate worth at least $90,262
  • Note: all prices converted from COP to USD at July 2019 rates of ~3,200 COP to 1 USD

2) M Visas Options and Specific Requirements

M VISA- RETIREMENT (PENSIONER)

Retirement Visa for people with Government Pensions/Social Security, Colombia only requires you have a monthly income equal to three times the minimum salary of a Colombian citizen.

2019 Colombian minimum salary is 828,116 Colombian Pesos (COP) per month


  • 3 X minimum salary =  2,484,348 COP = $774 USD per month using current exchange rates.

M VISA- Foreign Investment Income (ANNUITY VISA)

For Early Retirement Expats and FIRE Nomads, generally people with enough money to support themselves, but do not qualify for a Social Security or Government Pension, this M Visa requirements are slightly higher:


  • 10 X minimum salary =  8,281,160 COP = $2,579 USD per month 

Acceptable sources of a investment income - 

  • Monthly payments from an annuity or retirement fund
  • Rent from a rental property
  • Interests paid from loaning money
  • Dividends or interest payments from investments in corporation
  • Disability payments from an insurance settlement
  • Payments from the sale of a business

Unacceptable for visa application:

  • Payment from salaries
  • Payments from commissions

M VISA - REAL ESTATE INVESTMENT

If you cannot show or do not have acceptable monthly income sources, Colombia offers an M Visa for Real Estate Investment. This investment can be a residence or a rental property, making this an accessible option for many FIRE Nomads. This is one of the most common types of Colombian visas for expats looking to Retire Early. Your investment is required to be 350 X more than the minimum salary in Colombia. As of 2019, your investment would be $90,262 USD.

  • 350 X minimum salary =  289,840,600 COP = $90,262 USD total using current exchange rates.

3)Requirements for Colombia Retirement Visa- RESIDENT (R)

R VISA - REAL ESTATE INVESTMENT

A 5-Year Permanent Resident Visa. The main differences between the M vs R Real Estate Visas are the amounts required to invest ($90,000 vs $168,000), the duration of the visas (3 vs 5 years), and the physical presence requirements. If you physically leave Colombia for more than 6 months without reentry, the M Visa loses its validity. With a R Visa, you would need to leave Colombia for two consecutive years without returning to Colombia, to invalidate your R Visa.

An R Visa provides a path to dual citizenship after a period of five years.

  • 650 X minimum salary =  538,275,400 COP = $168,211 USD investment required using current exchange rates.

4) Documents Needed When Applying

  • The visa process is easy and done online.  The application will require PDF scans of all the required documents below and photos in .JPG format. 
  • Original and photocopy of first page of passport with personal info
  • Original and photocopy of passport showing Colombian immigration stamp passport
  • One Passport sized photograph
  • Proof of pension or foreign income: certificate issued by government, public or private company, foreign entity or diplomatic or consular mission from the country that the foreign national receives the retirement funds. Funds shown must meet the monthly income requirements. This certificate must be apostilled and translated. 
  • Copy of previous Colombian visa, if applicable

What to learn the best and cheapest way to legally stay in Colombia? Tired of conflicting information and endless researching on the visa requirements?

Colombia offers more than 30 different types of visas available, each with a different purpose, duration, and eligibility. Don't navigate the complexities alone- My Colombian legal partners have decades of experience helping expats

 

Click now to access expert support and quick answers to your visa questions. Save time, avoid complications, and take the hassle out of moving to Colombia.

Colombia Retirement Visa Pros and Cons

Retire Early in Colombia with Migrant (M) Visa

Visa Advantages

  • Low Income Requirement if on Government pension or Social Security.
  • Flexible Upfront Investment Alternative
  • Low Minimum Retirement Age of 18 to qualify
  • Path to Permanent Residency after 5 years
  • Dual Citizenship is available
  • Language Exam Not Required

Visa Disadvantages

  • Higher income requirement if income comes from a Private source, Rental income, or Dividends.
  • Personal Interviews can be requested by the Minister of Foreign Affairs
  • Path to Citizenship available after 10 years

Conclusion- Retirement Visas In Colombia

If you are a FIRE Nomad and have not started receiving a Government pension or Social Security, the $2,579 monthly income condition is on the high side of people looking at LeanFIRE. Especially, when considering the Colombian Cost of Living would be 20% less than that amount on the high-end. 


However, the Real Estate Investment option is MUCH more appealing. The upfront requirement is much lower, and you can purchase a proper real estate investment. You can live in the real estate as a residence or rent it out as an investment. Unlike many other Countries’ Investment Visas, you are not required to tie up $90,000 in a no-yield deposit in a government approved bank. With no minimum age limit, a $90,000 real estate purchase is all you need to Retire Early in Colombia with a legal M Visa.

Cartagena is a throw back to the Colonial period of Colombia

Colombia Retirement Visa Key Takeaway: 

With Cost of Living prices on par or lower than South East Asia or Eastern Europe, Colombia provides affordable health insurance, diverse natural geography, hip metropolitan cities, and straight forward and uncomplicated retirement visas.

For people in the United States or Canada with strong ties to home, Colombia offers affordable luxury and perfect weather for those who need to be a short flight home or be in the same time zone. In just three short hours from the US, FIRE Nomads have access to one of my favorite cities in the world: Medellin.

With endless Spring-like weather, low-cost luxury, and cosmopolitan big city amenities, living in one of Medellin's expat neighborhoods long term is a comfortable, but inexpensive way to stay near friends and family in the US. From Medellin, short and cheap intra-company flights provide ready access to Colombia’s national parks, world-class diving, and idyllic white sand beaches of the Caribbean.

Colombia’s proximity to the US, warm, friendly people, and accessible world-class health care are just a few reasons FIRE Nomads should consider Colombia for Early Retirement. Small monthly incomes that don’t stretch far in the United States are more than enough to live on in Colombia, and with a fantastic quality of life not available in the US.

You can enjoy luxuries like maid service, delivered meals, poolside cocktails, all while keeping daily expenses are minimal. With Colombia, you have all the benefits of living close to home, but living a better life at 70% lower cost.

Enjoying the View of Tayrona National Park Photo Credit: Hugo Pardo Kuklinski

FAQs: Colombia Retirement Visas

Do I need to speak Spanish to qualify for a Colombian Retirement Visa?

There is NO Spanish language requirement.

Is there a minimum age to apply for a Colombian Retirement Visa?

Unlike many other countries' retirement visas, Colombia allows anyone over the age of 18 years old to apply. This makes the Colombian Retirement Visa ideal for Early Retirees.

Can a Colombian Retirement Visa lead to citizenship?

Citizenship is an option. After 5 years, you can qualify for Permanent Residency. After 10 years, you can apply for Colombian Citizenship. 

What are the income requirements for a Colombian Retirement Visa?

There are four types of Colombian Retirement Visas each with specific requirements:

  1. M VISA- RETIREMENT (PENSIONER)= $774 USD
  2. M VISA- FOREIGN INVESTMENT INCOME (ANNUITY VISA)= $2,579 USD
  3. M VISA - REAL ESTATE INVESTMENT= income not required. Investment of $90,262 USD required instead of income
  4. R VISA - REAL ESTATE INVESTMENT= income not required. Investment of $168,211 USD required instead of income

What are the differences between the two types of Colombian Real Estate Retirement Visas?

The key differences between the Migrant (M) and Resident (R) are the higher income requirements, the duration of the visa, and the physical presence tests. Specifics on the R Visa are here.

Next Steps: Find Out Best Places To Retire in the Colombia.

Our Retirement Guides Have All The Insider Tips.

Useful External Websites For Legal Immigration


About the author

Hi, That's me. I'm Marco Sison. I am a survivor of the corporate rat race. I started Nomad FIRE to show you an alternative to the stress and grind of 70-hour weeks to pay off a mortgage, student loans, and countless bills. After getting laid off in 2015, I said screw it all and retired early at 41 years old. I have traveled the last five years to over 40 countries to show you the best ways to save, invest, and live in amazing countries for 70% less cost than the US. I have been featured in: US News & World Reports, Huffington Post, MSN Money, USA Today, ABC Network, Yahoo Finance, Best Life, CW Network, Dr. Wealth, and others. [view press...]

  • Columbia looks like a great option to retire to. Fantastic post full of useful details. The real estate option sure looks like the way to go.

    • Marco Sison says:

      I’m glad you found it useful. If you have any questions about the visa process, drop me aline.

  • It does look like a fascinating country, and the cost of living makes it very attractive.

  • I have heard about other destinations as attractive for retirement, such as Thailand, Greece or some Caribbean Islands, and Colombia is still a place for younger ppl in my head (parties, drugs, etc). This was very insightful post, thanks for sharing

    • Marco Sison says:

      Haha…I see how you might think that, but more people probably think that of Thailand (Full Moon Party and Khao San Road) or even Greece (every Euro kids summer break). I found most expats in Medellin were late 30s+.