What if I told you there’s a country where you can retire on your pension, pay zero tax on it, get world-class healthcare for about the price of Netflix… and still have enough left over to actually enjoy retirement instead of just staring at the ceiling fan? Oh, and bonus points — the weather doesn’t try to kill you every six months with blizzards or heat waves.
That country? Colombia. And before you say anything — no, not the Netflix version. The real one.
What Exactly Is the Retirement Visa?
Colombia’s official retirement visa is called the M-11 Visa. Think of it as the golden ticket for retirees: if you’ve got a guaranteed pension, Colombia has a chair waiting for you.
Income Requirement: About 3x the Colombian minimum wage, or roughly $1,000–$1,100 USD/month in 2025.
Proof: An official benefits letter (SSA, CPP/OAS, pension provider), apostilled and translated.
Healthcare: Mandatory coverage — either international or Colombian.
Other Requirements: Clean criminal record, medical check, proper documentation.
You’ll usually start with a one-year visa (Colombia likes to “test drive” new arrivals), but it can extend to three. Stick with it, and after five years you can apply for permanent residency. After a bit longer? Full citizenship could be on the table.
The catch? You can’t legally work. But retirement here was never about clocking in at Juan Valdez Café anyway.
The Tax Shock (In a Good Way)
Here’s where Colombia surprises almost every foreign retiree. Unlike Uncle Sam or Ottawa, Colombia doesn’t tax most pensions.
Pensions up to 1,000 UVT per month (around $12,000 USD in 2025) are exempt. That means your Social Security, military retirement, or corporate pension is completely tax-free unless you’re pulling in CEO numbers. Even then, only the amount above the threshold gets taxed.
Translation? Your pension money goes to coffee, housing, healthcare — not the taxman.
Yes. 100%.
Your U.S. Social Security, Canadian CPP, or OAS are all recognized as valid pensions — as long as they’re lifetime benefits. Temporary annuities or lump sums don’t cut it. Get your official letter, apostille it, translate it, and you’re in business.
The Fine Print: Tax Residency & Wealth Tax
Now, before you celebrate too soon, there’s one caveat: if you spend 183+ days in Colombia in a 365-day period, you become a tax resident. That means disclosing worldwide income and assets, even if you don’t owe much.
Colombia also has a wealth tax for high-net-worth individuals (assets over ~$1.25M). The good news? Pensions and retirement accounts are usually exempt. Smart retirees structure their assets in LLCs, trusts, or simply keep most of their funds abroad.
Pro tip: Don’t put your entire nest egg in a Colombian bank account. Bring only what you need for monthly living expenses.
Americans vs. Canadians: Double Taxation
Here’s the part that makes Americans groan and Canadians smile.
Americans: You’re taxed no matter where you live. No treaty with Colombia. The good news is pensions aren’t taxed locally, and the U.S. does allow credits for Colombian taxes you might pay on other income. But yes — the IRS still wants to hear from you.
Canadians: You’ve got it easier. Canada and Colombia have a treaty, so in most cases, you’ll only pay in one country, not both.
The Triggers Nobody Tells You About
Even if you owe nothing, Colombia may still require you to file if you hit certain thresholds:
Worldwide assets ≥ $51,000 USD
Worldwide income ≥ $16,000 USD
Annual spending in Colombia ≥ $16,000 USD
Bank deposits in Colombia ≥ $16,000 USD
Filing doesn’t mean paying, but it’s mandatory. This is where having a Colombian accountant is worth every peso.
Lifestyle Perks That Seal the Deal
So why go through the paperwork at all? Because this is what retirement looks like in Colombia:
Cost of Living: Rent in Medellín? $500 for a nice apartment. Dinner for two? $25.
Healthcare: Ranked higher than the U.S., and EPS coverage can cost under $100/month.
Climate: Medellín = 75°F year-round. Bogotá = crisp mountain air. Coast = Caribbean warmth. Pick your climate.
Culture: Colombians treat seniors with respect — discounts, priority lines, and genuine friendliness.
Travel: Direct flights to Miami, Toronto, Madrid, and beyond.
Bottom line: you live better for less, with access to world-class healthcare, year-round spring weather, and enough left over to actually enjoy your retirement.
Colombia’s retirement visa isn’t just paperwork — it’s a lifestyle upgrade. You keep more of your pension, you spend less, and you gain a culture that treats retirees like VIPs. Yes, there are forms, translations, and occasional bureaucratic headaches. But the payoff? A retirement that feels like reinvention.
👉Ready to map out your own retirement plan in Colombia? I’ve put together a practical checklist that walks you through the exact steps, documents, and timelines — so you don’t get lost in the paperwork. Download the Colombia Retirement Visa Guide.