The M type – Retirement Visa is one of Colombia’s most special and recurring visas. Probably, based on statistics, most applications are for American citizens; because of this, Colombia has become an increasingly great place to spend your retirement years.

The Ministry of Foreign Affairs issued Resolución 5477, which updates the regulations and procedures for the different types of Colombian visas. In October 2022, these changes came into effect. See the new requirements below if you want to apply for your Retirement Visa.

For more than 40 years, the International Living newsletter has been the best reference for choosing paradises abroad, where the slogan is «Live better, for less.»

Among the advantages of retiring in Colombia, you can find the following:

Why Medellín is one of the best cities to retire in Colombia?

First, Medellín is a charming city and one of the jewels of the Official Tourism Site of Colombia. Due to its climate and people, it has been known for decades as “the city of eternal spring.” Besides, Medellín offers all its visitors a significant cultural, gastronomic, landscape, and fun experience.

 

It also mentions the advantages of having a pioneering transport system: Sistema Integrado de Transporte del Valle de Aburrá (SITVA), its cosmopolitan air, which includes universities, museums, theaters, restaurants, and sports centers, among others, and its world-famous festivals.

Besides, in the blog we find a standard example about the cost of living in Medellín, a proposal of 10 interesting things to do in the city, information on whether Medellín is a safe place to live, and personal accounts of why expats are still in love with the city, alongside other interesting details for foreigners who are thinking about choosing Medellín as their retirement place.

What about the cost of living in a city like Medellín?

In the above-mentioned Medellin Guru article, Jeff talks about his ex-pat experience with a family of three that lives very well on a monthly budget of less than $1,200 USD. Thanks to the exchange rate in Colombia, life has become increasingly cheaper in Medellín in terms of US dollars.

However, if you want to know more information about the reality of the budget to live in Medellín according to your particular case, we invite you to review the following articles:

  1. Medellín Cost of Living for a Couple with 3-Year History: Jeff an expat from the U.S. married to a Colombian shares their cost of living in Medellin
  2. Expat Cost of Living in Medellín for a Single Woman: Stephanie is an expat from the U.S. who moved to Medellín years ago. She shares her cost of living as a single woman living in the city
  3. 5 Best Neighborhoods in Medellín: Jeff, in another blog, talks about the five best neighborhoods to live in Medellín, their cost of living, safety, walkability and more.

With a cédula de extranjería, you can open bank accounts and obtain a drivers license, among other benefits. Remember that this is a visa to stay legally in Colombia. Still, as per the current legislation, you are not permitted to work in Colombia or become affiliated with the Colombian EPS system with this visa.

Also, you can enter and exit Colombia without any problem, but to keep your visa valid, you mustn’t stay outside of Colombia for more than 180 continuous days on the same departure. The retirement visa can be issued for one to three years, and you will always have the option to renew it. You can finally become a permanent resident when you accumulate five continuous years with this kind of visa.

What are the new requirements, according to Resolution 5477, for applying for a retirement visa?

To apply for a Retirement Visa, it is necessary to meet the Ministry of Foreign Affairs requirements based on the new Resolution 5477 of 2022.

 

Standard Requirements

Legal, Financial, and Health Policy Requirements

Explore EG Assist health policy plans, designed for visas in Colombia, and obtain peace of mind.