Colombia
A solid all-round choice. Ranked 14 of 40, strongest on affordability, softest on safety.
Key facts
Visa & residency
Requires a lifetime pension income of at least three times the Colombian minimum wage, about COP 5,252,715 per month in 2026 (roughly 1,380 US dollars). The dollar figure fluctuates daily with the peso exchange rate.
The M pension visa is issued for up to three years at a time with no age requirement. Holders must enter Colombia at least once every 180 days to keep it valid, and accumulating five years on the M visa opens the path to a Resident (R) visa.
Healthcare
Colombia ranks 22nd on the WHO list of best healthcare systems and reached about 97 percent insurance coverage by 2023. Major cities such as Bogota, Medellin and Cali offer high-quality private hospitals, but access and quality drop noticeably in rural areas.
Legal residents can join the mandatory public EPS system, with self-employed expats paying roughly 95 to 150 US dollars per month. Private care is 50 to 70 percent cheaper than in North America, though standard private plans are hard to get after age 60; retirees over 60 can instead use the Plan Complementario 60 Plus to top up EPS.
Cost of living
Overall cost of living is about 47.5 percent lower than the US excluding rent (53.9 percent lower including rent), so a comfortable single-retiree budget runs roughly 1,200 to 1,800 US dollars per month.
Rent averages about 68.2 percent lower than in the United States, though prices in prime Medellin and Bogota neighbourhoods popular with expats are climbing.
Safety & climate
Colombia scores 2.887 on the 2024 Global Peace Index, ranking 146th of 163 countries, one of the least peaceful in the Americas. Expats concentrate in calmer urban districts of Medellin and Bogota, but petty crime and regional security issues warrant ongoing caution.
Tropical overall, tempered by altitude; highland cities like Medellin enjoy an 'eternal spring' climate.
Medellin sits at about 1,500 metres in the Andes with a steady year-round average near 22.8 C (73 F), earning it the nickname City of Eternal Spring. Lowland and coastal areas are hot and humid, while high-altitude Bogota is cooler.
Community & language
Colombia is a steadily growing retirement haven, with expats and retirees clustering mainly in Medellin and Bogota. English proficiency is rated Low on the EF EPI (score 480, 76th globally), so Spanish is needed for everyday life.
Spanish is the sole official national language; English is spoken at only low levels outside tourist and business circles, so basic Spanish is important for daily life.
Taxes
Colombian tax residents are taxed on worldwide income, and foreign pensions are fully taxable at progressive rates without the generous allowance given to domestic pensions. A double-tax treaty can shift or reduce that liability where one exists.
Colombia has double-tax treaties in force with the UK and Canada (plus Spain, France, Italy, Switzerland and others), but no income-tax treaty with the United States, the Netherlands or Australia.
Compare Colombia with its closest rivals
The three countries whose RetireScore sits nearest.
