What do I need to know before retiring in Providencia Island?

"Expats considering retirement in Providencia Island, should be aware of several factors before making the move. Firstly, they should research the cost of living, which is generally lower than in many Western countries, but may vary depending on lifestyle choices and location on the island. Healthcare is another important consideration, as the island has limited medical facilities, and expats may need to travel to the mainland for more advanced treatments. It is essential to have comprehensive health insurance that covers medical evacuation if necessary. Language can be a barrier, as Spanish is the official language in Colombia, and many locals may not speak English. Learning Spanish will make it easier to navigate daily life and interact with the local community. Expats should also familiarize themselves with the local culture and customs to ensure a smooth transition and integration into the community. Safety is a concern for many expats, and while Providencia Island is generally considered safe, it is essential to stay informed about local news and follow any safety recommendations from local authorities. Additionally, expats should be aware of the visa and residency requirements for Colombia, which may include obtaining a retirement visa and providing proof of a stable income. Housing options on Providencia Island can be limited, so it is crucial to research the local real estate market and rental options before moving. Expats should also consider the island's infrastructure, such as transportation, internet connectivity, and availability of goods and services, as these may be different from what they are used to in their home country. Finally, it is essential to consider the tax implications of retiring in Colombia, as expats may be subject to taxes on their worldwide income. Consulting with a tax professional familiar with both Colombian and expat tax laws is highly recommended to ensure compliance and minimize tax liabilities," explained one expat living in Providencia Island, Colombia.

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Allianz Care

Allianz Care's plans ensure that you have access to quality healthcare whenever you need it. Our flexible solutions allow you to tailor your cover to meet your needs and budget. You can submit your claims digitally and our helpline is available 24/7 to help you anytime.
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