Retiring Abroad: Climate, Cost and the Tax Rules That Changed
Climate lists for retirees are easy to write and mostly interchangeable. The things that actually decide whether a move works — the visa income threshold and the tax treatment of your pension — change without notice, and a guide written two years ago will get them wrong.
Two of those have changed since this page was first published. Both are below, before the climate comparison.
⚠️ Portugal: the pension tax break is gone
If you are considering Lisbon or Madeira for tax reasons, this is the single most important thing to know.
Portugal’s Non-Habitual Resident (NHR) regime was discontinued on 1 January 2024. Under NHR, foreign pension income was taxed at a flat 10%. That benefit has been removed: pensions for new arrivals are now taxed as regular income at progressive rates (PwC Portugal).
| Regime | NHR, closed to new entrants 1 January 2024 |
| Old pension treatment | 10% flat rate on foreign pension income |
| New pension treatment | Progressive rates, as ordinary income |
| Transitional | Those who became tax resident by 31 December 2023 continue until their 10-year period ends |
| Replacement | IFICI — 20% flat rate on eligible Portuguese employment income, aimed at scientific research and innovation professionals |
IFICI does not replace the pension benefit. It is aimed at qualified professionals in science, technology and innovation, not retirees.
🇨🇴 Colombia: the M-Pensionado visa, in numbers
For readers of this site, the relevant threshold is Colombia’s retirement visa.
- Income required: a certified lifetime monthly pension of 3 SMMLV. With Colombia’s 2026 minimum wage at COP 1,750,905, that is COP 5,252,715 per month — USD 1,380–1,410 at recent exchange rates.
- Meet the COP figure, not the dollar one. The minimum wage rises annually and the exchange rate moves, so the peso threshold is what binds.
- No minimum age, unlike programmes that require applicants to be 50 or 60+.
- Source of pension: a state system (US Social Security, Canadian CPP, UK State Pension, Australian Age Pension) or a recognised private fund. The certification must be apostilled and translated into Spanish.
- Validity: a 3-year visa under Resolution 5477 of 2022, renewable, leading to a permanent R visa and eventually citizenship.
Climate comparison
| City | Climate type | Notes |
|---|---|---|
| Medellín, Colombia | Seasonless, altitude-moderated | Mean 22°C, typical range 16–26°C; two rainy periods rather than seasons |
| Cuenca, Ecuador | Seasonless, high altitude | Cooler than Medellín — it sits considerably higher |
| San Cristóbal de las Casas, Mexico | Highland, mild | Cool evenings year-round at altitude |
| Lisbon, Portugal | Mediterranean | Mild wet winters, warm dry summers, Atlantic-moderated |
| Málaga, Spain | Mediterranean | Among Europe’s sunniest, at 3,248 sunshine hours a year |
| Nice, France | Mediterranean | Riviera coast; the most expensive option here |
| Santa Cruz de Tenerife, Spain | Subtropical | Warm through the European winter |
| Madeira, Portugal | Subtropical Atlantic | Mild year-round, but see the Portugal tax note above |
Medellín’s figures are the ones this site can vouch for: an elevation of 1,495 m, a mean annual temperature of 22°C and a typical range of 16–26°C, with rain — not heat — as the thing that varies. The two rainy periods run late March to early July and late September to early December (Weather Spark; Climas y Viajes).
On Málaga: it is often called Europe’s sunniest city and is not. Annual sunshine hours put Seville at 3,526, Alicante at 3,397 and Murcia at 3,348, ahead of Málaga’s 3,248 (idealista).
How to actually compare costs
This page previously carried specific rent figures for each city and a claim that Medellín healthcare runs “50–70% cheaper than the U.S.” None of it was sourced, and rents in particular move faster than any static guide can track.
Use live sources instead, and check them the month you are deciding:
- Rent — search the local portal, not an aggregator: Fincaraíz or Metrocuadrado for Colombia, Idealista for Spain and Portugal.
- Healthcare — get a quote from a specific insurer for your age and conditions. National averages tell you nothing about your premium.
- Tax — confirm with a tax professional in the destination country, and confirm the year. Portugal is the illustration of why: a regime that defined the country’s appeal to retirees for a decade closed with a few months’ notice.
- Visa income thresholds — check the current figure in local currency, since most are pegged to a minimum wage that rises annually.
A note on this guide
Rechecked in September 2026. The Portugal tax position was corrected — the NHR pension benefit ended on 1 January 2024, and both the Lisbon and Madeira entries previously advertised tax advantages for retirees that no longer exist for new arrivals. Medellín’s temperature range was corrected to 16–26°C. The Málaga “sunniest in Europe” claim was corrected. Every rent figure and the healthcare cost comparison were removed as unsourced, and the comparison table, which had lost its markdown and was rendering as a single run-together line, was rebuilt.