A comfortable retirement works out cheaper in Colombia — around £1,400/month for a couple, versus £1,700 in Vietnam (about 18% more).
Cost of living, side by side
| Colombia | Vietnam | |
|---|---|---|
| Modest (couple/mo) | £950 | £1,100 |
| Comfortable (couple/mo) | £1,400 | £1,700 |
| Premium (couple/mo) | £2,100 | £2,900 |
Indicative monthly estimates for a couple — real costs vary by location, lifestyle and exchange rates.
Colombia: Foreigners can own residential property outright (100% freehold) in their own name, with the same rights as citizens and no general restrictions. Purchases are completed by public deed before a notary and registered at the local land registry.
Vietnam: Foreigners can own apartments (with ownership-term limits); land itself remains state-owned.
Colombia: The Migrant (M) Pensionado visa is aimed at retirees with a pension of at least three Colombian minimum wages (roughly US$1,380 a month) and can be held for up to three years before moving to a Resident (R) visa.
Vietnam: Longer-stay options are more limited than elsewhere in Asia — check current routes carefully.
Colombia: Colombia's healthcare is well rated and affordable: residents can join the public EPS system, and private prepaid plans (medicina prepagada) and top hospitals in Medellin and Bogota cost far less than in the UK. Good cover is inexpensive at most ages.
Vietnam: Major cities have good international hospitals (FV Hospital in Ho Chi Minh City, the Vinmec network) with English-speaking, often Western-trained staff at a fraction of Western prices; many expats keep international insurance (roughly £70-450 a month by age and cover) and may travel abroad for complex care.
Colombia: A tax resident (183-plus days) must report worldwide income, and a foreign pension is taxable above a generous monthly allowance of around 1,000 UVT, with rates rising progressively to 39%. Whether that pension relief fully applies to foreign pensions is debated, so take advice.
Vietnam: Vietnamese tax residents (183+ days or a permanent home) are taxed on worldwide income on a progressive scale up to 35%, with relief under the UK-Vietnam double-tax treaty; there is no dedicated retirement visa, so residency and pension taxation both need professional advice.
Colombia: Being near the equator there are no real seasons; climate follows altitude, from Medellin's eternal spring near 22C and cool Bogota around 14C to the hot coast. Drier spells fall around December-March and July-August. Much improved and welcoming, though city street-smarts still pay; Spanish is essential with limited English, and driving is on the right.
Vietnam: Tropical but varied by region: the south is warm year-round with a wet season (May-October), the centre around Da Nang is driest and best from February to August, and the north has a cooler winter. Vietnam is very safe with low crime and welcoming to foreigners, though English is less widely spoken outside cities; traffic is intense and driving is on the right, so many retirees avoid driving themselves.
Colombia: One-off costs are modest, typically around 2-3%: registration and notary fees (often split with the seller) plus legal fees of about 1%. Title checks matter, so use a good local lawyer.
Vietnam: Foreigners cannot own land, only apartments in approved buildings on a renewable 50-year leasehold (capped at 30% of a block); expect around 10% VAT (usually in the price), a 0.5% registration fee, a maintenance or sinking fund near 2%, and legal costs, with independent legal checks essential.
Colombia: Medellin (El Poblado, Envigado, Laureles) for its spring climate and large expat scene, the coffee region around Pereira and Armenia, the Caribbean coast at Santa Marta and Cartagena, and cooler Bogota.
Vietnam: Da Nang for an affordable, laid-back beach city popular with retirees, Ho Chi Minh City (Districts 2/Thu Duc and 7) for the best hospitals and amenities, historic Hoi An nearby, and Hanoi for northern culture.
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