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The M-11 visa is designed specifically for foreign retirees, allowing them to live in Colombia as long as they meet a few straightforward requirements. This visa is valid for three years, after which it can be renewed. Additionally, after five years of holding an M-11 visa, you’re eligible to apply for permanent residency, giving you more security in your retirement plans.
Eligibility Requirements
To qualify for the Pensioner Visa, you’ll need to prove a steady source of retirement income. Here’s a breakdown of the specific criteria:
- Proof of Pension: The most important requirement is a certified document that proves you receive a pension of at least three times the minimum wage in Colombia. As of 2024, this amounts to around 3,500,000 COP (approximately $700 USD) per month. Given that many U.S. retirees have pensions exceeding this amount, most expats will easily meet this requirement.
- Documentation: You’ll need to submit your pension documents, bank statements, and an apostilled certificate from the relevant authority in your home country. These documents must be translated into Spanish by a certified translator.
- Background Check: Like many countries, Colombia requires a clean criminal record to grant residency. A background check from your home country, typically no older than six months, is required.
At Legalally, we streamline the entire process, ensuring all paperwork is correctly filed and that you have peace of mind every step of the way.
Steps to Apply
- Gather Your Documents: Before starting the visa process, you’ll need to gather the required documentation, including your pension verification, passport copies, background checks, and other personal information. Some of these documents must be translated into Spanish and apostilled.
- Submit Your Application: Applications are submitted through Colombia’s Ministry of Foreign Affairs online platform. However, navigating the system can be tricky. Our experienced team at Legalally handles this for you, ensuring no delays or errors occur.
- Receive Your Visa: Once approved, the visa will be sent electronically, and you’ll be ready to embark on your new life in Colombia.
Living in Luxury on a Retirement Budget
One of the most appealing aspects of retiring in Colombia is the ability to enjoy a life of luxury at a fraction of the cost compared to your home country. Let’s dive deeper into why Medellín, and Colombia in general, offers an unbeatable retirement lifestyle:
Real Estate Value
For as little as $200,000 to $300,000, you can purchase a modern apartment in upscale neighborhoods like El Poblado or Laureles, known for their safety, amenities, and expat communities. But if you’re looking for something more extravagant, $500,000 can buy you a sprawling mansion with a pool, gardens, and panoramic views of the Andes.
Dining and Entertainment
Eating out in Colombia is both a culinary adventure and a financial win. High-end dining in Medellín can cost as little as $20 per person, which is a fraction of what you’d pay for a similar experience in New York or Miami. Even more modest dining options offer delicious local cuisine for just a few dollars per meal.
For entertainment, Medellín offers cultural events, music festivals, and outdoor activities like hiking, paragliding, and horseback riding. Best of all, these activities are incredibly affordable, making it easy to fill your days with exciting experiences without stretching your budget.
Healthcare a Major Draw for Expats
Colombia’s healthcare system ranks among the best in Latin America. Medellín, in particular, is known for its state-of-the-art medical facilities and English-speaking doctors. As a retiree, you can access high-quality healthcare for a fraction of what you’d pay in the U.S.
- Private Healthcare Plans: Most expats opt for private healthcare plans, which provide excellent coverage at a significantly lower cost compared to U.S. insurance premiums.
- Affordable Medications: Prescription medications are widely available and much cheaper than in many Western countries, giving retirees peace of mind when it comes to managing their health.
Why Choose Legalally to Handle Your Visa?
While the pensioner visa process may seem straightforward, bureaucratic hurdles and language barriers can complicate things. At Legalally, our team of experts specializes in visa applications for expats. We’ll handle everything, from document translations to liaising with immigration officials, so you can focus on planning your new life in Colombia.
Conclusion Colombia, A Retiree’s Paradise
Colombia, with its favorable exchange rate, affordable luxury, and welcoming culture, is the perfect destination for retirees looking to make the most of their golden years. Whether it’s the opportunity to live in a mansion for the price of a modest home back in the U.S., or the chance to enjoy world-class healthcare, Colombia offers a retirement experience that’s both luxurious and affordable.
If you’re ready to take the next step and secure your future in Colombia, reach out to Legalally today. We’ll ensure your visa process is smooth and stress-free, so you can start enjoying all that Colombia has to offer as soon as possible.