Colombia Retirement Visa Requirements

Are you considering enjoying your golden years in a country with a lower cost of living, excellent healthcare, and a high quality of life? Look no further than Colombia. In recent years, this South American nation has become an increasingly popular destination for retirees looking to make the most of their retirement. This blog post will guide you through the process of obtaining a Colombia Retirement Visa, detailing the Colombia retirement visa requirements, eligibility criteria, required documents, application steps, and more.

Key Takeaways

• A Colombia Retirement Visa allows foreign retirees to live in the country for up to three years and be eligible to apply for residency after meeting its requirements.
• Colombia has international tax relationships with many countries to avoid double taxation - so you won't be penalized for living in Colombia.
• Eligibility criteria include pension income and other factors such as proof of pension income equivalent to at least three times the minimum legal monthly wages in Colombia.
• Documents required include a valid passport, medical certificate, health insurance coverage & criminal background check.
• The government fees to apply are approximately $326 USD.

Colombia Retirement Visa Overview

The Colombia Retirement Visa is specifically designed for individuals receiving a retirement income, and it allows foreign retirees to reside in Colombia for 1-3 years with the option to renew. With its favorable climate, diverse landscapes, and welcoming culture, Colombia is an ideal destination for retirees seeking a change of scenery and a taste of the good life.

Regarding taxes, expats residing in Colombia for less than six months (183 days) are only taxed on income earned directly from Colombia, paying taxes that can vary from 0% up to 35% depending on the tax bracket they are located.

Eligibility Criteria for Colombia Retirement Visa

Applicants must meet specific criteria, including receiving 3x the Colombian minimum wage in retirement income and other factors to be eligible for a Colombia Retirement Visa.

Age Requirements

Interestingly, there is no specific age requirement for a Colombia Retirement Visa. However, applicants must meet the minimum income requirements and possess a pension or social security income.

The absence of a stringent age requirement broadens the eligibility spectrum for the Colombia Retirement Visa, opening up opportunities for more retirees to experience life in this beautiful country.

Pension Income Requirements

To be eligible for a Colombia Retirement Visa, applicants must provide proof of a pension income. In 2024, the minimum income requirement is around $950-$1,000 USD.

To calculate the exact amount on your own:

1. Google Colombian Pesos to (Your Currency).
2. Enter 3.900.000 Colombian Pesos (This is 3x the Colombian Minimum Wage as of 2024); bare in mind that the minimum wage increases every year, so make sure you confirm what exact minimum wage is in force for the year you intend on applying for the retirement visa.
3. The number you get in your currency is the amount you need to be receiving every month from your social security or pension to qualify for the visa.

Monthly Social Security, pension, and retirement savings account income are all accepted as income sources.

3,900,000 Colombian pesos is the minimum monthly pension payment to qualify for the visa as of 2024.

Documents Required for Colombia Retirement Visa Application

A smooth Colombia Retirement Visa application process requires carefully gathering all required documentation. These documents include:

• A valid passport
• Proof of pension income
• A medical certificate
• Health insurance
• A criminal background check

Each document requirement will be explored more thoroughly in the subsequent sections.

Valid Passport

A valid passport is an essential document for a Colombia Retirement Visa application, as it serves as the foundation for your application. The passport must have a minimum validity period of six months beyond the application date.

Proof of Pension Income

To verify your pension income for a Colombia Retirement Visa application, you can obtain a Benefit Verification letter from the United States Social Security Administration (SSA) if you are a U.S. citizen. However, please note that the U.S. Embassy in Colombia has stopped its income certification letter service for U.S. citizens as of August 11, 2022.

The most straightforward method to obtain an SSA Benefit Verification letter is through the Social Security website. Here are the steps to follow.

1. Create an account on the Social Security website.
2. Log in to your account.
3. Navigate to the Benefit & Payment Details link located on the top menu bar.
4. Click on “Get a Benefit Verification Letter.”
5. This will open the SSA Benefit Verification letter, which can be printed.

Remember that the Benefit Verification letter must be apostilled.

Medical Certificate

A medical certificate or letter from a licensed physician is required for a Colombia Retirement Visa application, indicating that the applicant is in good health.

Unfortunately, there are no clear guidelines from the Colombian government entity on exactly what the health checkup needs to include, however, a simple letter from a medical professional stating you are in good health is sufficient in our experience.

Health Insurance

Health insurance is another crucial requirement for a Colombia Retirement Visa application. Applicants must provide documentation of international medical insurance coverage.

Adequate health insurance coverage is advisable for peace of mind and security as you begin your retirement journey in Colombia. We recommend obtaining health insurance for at least 1 year.

Criminal Background Check

A criminal background check is essential to the Colombia Retirement Visa application process. Applicants must submit the following documents:

• Criminal background certificate from the country you have been a resident of for the previous three years

In the United States, this means getting an FBI criminal background check. This requirement helps ensure the safety and security of both the applicant and the Colombian community.

Apostilles and Certifying Documents

All official documents will need an official apostille or authentication stamp. You can learn more here about what these stamps are and how you can obtain them.

The documents that need to be apostille or authenticated for the pension visa are:

• Criminal Background Check
• Certification of Pension or Social Security

Applying for a Colombia Retirement Visa: Step-by-Step Guide

A step-by-step guide has been compiled to assist you through the Colombia Retirement Visa application process, from gathering the required documents to submitting your application.

The subsequent section will detail the online application process.

Online Application Process

To start, you will need to gather all the required documents, such as:

• A valid passport
• Last entry stamp to the country (if applying from Colombia)
• 3x4 white background photo in digital format
• Proof of pension income
• Medical certificate
• Health insurance
• Criminal background check

Next, visit the official Colombian visa application website and follow the instructions provided like the passport-style face photo as a JPG file. Your documents must be current (not exceeding 3 months old), apostilled or legalized if needed, and officially translated into Spanish if issued in a language different than Spanish.

Once you have completed the online application process and payment, you will receive a notification regarding the status of your application.

Colombia Retirement Visa Fees and Payment Methods

The fees for a Colombia Retirement Visa vary depending on the type of visa. In general, the fee for an M-retirement visa is $324 USD. ($54 to study the application and then $270 once you receive your approved visa).

Payment can be made through various methods, such as cash, credit card, or bank transfer, depending on the applicant's preference and the Colombian consulate's or embassy's specific requirements.

What Happens After Your Colombia Retirement Visa is Approved?

Once your Colombia Retirement Visa is approved, there are a few additional steps to take before you can fully enjoy your retirement in Colombia.

First, you must apply for a Cedula de Extranjeria (ID Card) within 15 days of receiving your visa. This identification document is essential for foreigners residing in Colombia and can be obtained at Migración Colombia offices.

After obtaining your ID card, you may join the Colombian healthcare system, either through the public health insurance system (POS) or a private health insurance plan.

Duration and Renewal of Colombia Retirement Visa

The Colombia Retirement Visa remains valid for 1-3 years. Keeping track of your visa’s expiration date and timely renewal is crucial for maintaining your legal status in Colombia.

After five years, Pension visa holders can apply for a resident visa as long as they have held the retirement visa continuously for a total of 5 years. Once approved, they will be classified as a resident visa holder. Keep in mind that if you leave Colombia for more than six months without returning, your visa will become invalid.

Note: For purposes of calculating accumulated time, it will be considered that there is continuity of time when a visa has been granted before the expiration of the preceding visa. The safe-conduct/Salvoconducto does not constitute a continuity factor for the calculation of accumulation of time.

Family Members and Dependent Visas

If you have family members or dependents you would like to bring with you to Colombia, you can apply for beneficiary visas for them. These visas allow your spouse or children younger than 25 y/o to join you in Colombia as long as you can provide documentation verifying your relationship (e.g., marriage certificate or birth certificate).

This option ensures that your loved ones can also experience the beautiful country of Colombia during your retirement.

Navigating the Colombian Healthcare System as a Retiree

Ranked as the 22nd most efficient in the world by the World Health Organization, Colombia’s healthcare system offers universally accessible and affordable coverage. As a retiree, you have the option to enroll in the public health insurance system or private health insurance plans.

The public health insurance system is subsidized by the government and provides access to basic healthcare services. On the other hand, private health insurance plans offer more comprehensive coverage but come with higher premiums. Depending on your healthcare needs and budget, you can choose the option that best suits your requirements as a retiree in Colombia.

Transitioning from a Retirement Visa to a Resident Visa

Should you choose to make Colombia your permanent home, you can transition from a retirement visa to a resident visa by submitting an application to the Colombian immigration office, providing the required documents, and paying the necessary fees.

Advantages of Retiring in Colombia

Colombia offers numerous advantages for those looking to retire in Colombia, making it an ideal destination for enjoying their golden years. The cost of living in Colombia is significantly lower than in many developed countries, allowing you to stretch your retirement income further. Additionally, the country boasts a high-quality healthcare system that is both affordable and accessible, ensuring that you can maintain your health and well-being during your retirement.

Furthermore, Colombia is known for its diverse landscapes, rich culture, and warm, welcoming people. This combination of affordability, excellent healthcare, and quality of life makes Colombia a top choice for retirees from around the world. So why not consider making Colombia your retirement destination? The adventure of a lifetime awaits you!

Summary

In this blog post, we have explored the process of obtaining a Colombia Retirement Visa, including eligibility criteria, required documents, application steps, and more. Retiring in Colombia offers numerous advantages, such as a lower cost of living, excellent healthcare, and a high quality of life. With the information provided in this guide, you are now well-equipped to begin your journey towards enjoying your golden years in this beautiful and vibrant country. So pack your bags and embark on the retirement adventure of a lifetime in Colombia!