If you have been thinking about leaving the U.S. or Canada, there are two names that come up again and again: Mexico and Colombia. They both offer better weather, lower costs, and more relaxed daily life than most North American cities. They both attract entrepreneurs, remote workers, and retirees who are tired of trading all their time for money. And they both sit inside a broader Latin American lifestyle that is hard to ignore once you have experienced it.
I have lived and worked in both. Today, my home base is in Mexico. Before that, I spent years in Colombia, including time in Medellín and smaller towns like Armenia. Both places have shaped my view of what a freedom lifestyle can really look like. The question is not which country is “perfect”. It is which one actually gives you more freedom, better lifestyle, and more opportunity for the business and life you want to build.
Cost of Living, Lifestyle, and Everyday Reality
Let’s start with the piece most people ask about first: money.
Overall, Mexico is now roughly 20 to 40 percent more expensive than Colombia. That was not always true. When I lived in Colombia years ago, costs were similar, and in some cases Mexico was cheaper. But Mexico has seen a huge influx of expats in the last five years, and strong economic performance has pushed prices up, especially in hotspots.
If you picture yourself in Mexico City, a single expat can usually live comfortably on about 2,500 to 3,000 dollars a month. That covers a decent apartment in a solid area, eating out, transportation, and some entertainment without feeling deprived. In Medellín, a similar lifestyle might land closer to 1,800 to 2,200 dollars. Mexico is still very affordable compared to the U.S., Canada, or Western Europe, but it is no longer the bargain it used to be, especially in places like Puerto Vallarta, Playa del Carmen, or San Miguel de Allende. Colombia remains a strong value, particularly if you earn in dollars. You simply get more apartment, more help, and more meals out for less money.
Lifestyle though is not just about what things cost. It is about how it feels to live somewhere day to day. Mexico has more mature expat communities with deeper infrastructure. Private healthcare is excellent and relatively inexpensive compared to North America. There are well equipped hospitals, English speaking specialists, and easy access to private insurance. Major cities and expat hubs have good roads, airports, malls, coworking spaces, schools, and everything you would expect from a country deeply interconnected with the U.S. and Canada.
Colombia, especially Medellín, has improved dramatically on these fronts. When I first lived there, the internet was “más o menos”, usable but inconsistent, especially once everyone started working from home. Since then, fiber has rolled out more widely, coworking has expanded, and the city has become a genuine global hub. You will find great coffee shops, fast internet, Uber, and a creative community.
Where Colombia really shines is in its energy and natural diversity. Mountain biking down ridiculous slopes outside Medellín, weekending on a finca in the coffee region, or exploring rural towns that feel totally untouched, you get the sense that parts of Colombia are still under explored. The Caribbean coast has a rough cut beauty that feels less polished than Mexico’s Caribbean side. Cartagena is touristy, sure, but the overall vibe is less like a U.S. extension and more like a world of its own.
Mexico wins on convenience, connectivity, and the feeling that you can drop in and get set up quickly. Colombia wins on value, adventure, and the sense that you are truly somewhere different. In pure lifestyle terms, it is closer to a tie than most people realize.
Residency, Taxes, and Long Term Freedom
The deeper question is not just where your money goes further this year. It is where your freedom compounds over time. That is where residency, tax rules, and government attitudes really matter.
Mexico is more demanding at the front door but more generous once you are inside. To qualify for temporary residency in Mexico through economic solvency, you are typically looking at around 4,200 dollars a month in verifiable income or roughly 70,000 dollars in savings or investments. Those numbers vary by consulate, but they give you a realistic planning range. In exchange, you generally receive up to four years of temporary residency, which you can then convert into permanent residency and eventually citizenship if you want it. That path gives you real long term diversification, including a second passport down the line.
Colombia is easier to enter but harder to stay in permanently. The digital nomad visa requires around 900 dollars a month of income and can allow up to a two year stay. That is much lower friction if you are early in your income journey, freelancing, or still building your business. There are paths to long term residency, especially if you marry a Colombian or invest a significant amount of capital into the country, but the typical digital nomad visa does not automatically put you on a clear track to permanent residency or a passport.
On taxes, both countries tax worldwide income once you become tax resident, usually after 183 days in a calendar year. In practice, enforcement and culture differ. Mexico is technically a high tax country on paper, but in reality many small foreign run businesses still operate with most of their income structured abroad. It is common to work with U.S. or international structures and not be deeply entangled in Mexican taxation, especially at moderate income levels. Professional advice is crucial here, but from a practical standpoint Mexico tends to be more flexible, and there is a long history of expats quietly integrating without being crushed by bureaucracy.
Colombia is more aggressive and more political. Tax reforms have increasingly targeted high earners, and the government takes collection seriously. If you live there more than 183 days a year and bring in significant income from abroad, you should plan to be fully inside the Colombian tax net. In many cases that means higher effective taxes than if you had simply remained in the U.S., at least on paper. It is still possible to use timing, non residency strategies, and international structures to optimize, but you need to be deliberate.
There is also the question of government behavior and property rights. Colombia has had more ideological swings, with left leaning governments occasionally floating ideas that raise eyebrows among investors. Mexico, by contrast, is highly motivated to attract foreign capital and keep expats and their money in the country. It is far from perfect, but from a practical perspective there is strong incentive to welcome rather than punish foreign investors.
So if your primary goal is building a global business, investing in real estate, and securing an alternate residency and passport, Mexico often makes more sense as a first base. If your goal is maximizing lifestyle value at lower income levels, experimenting with Latin America, or building a chapter of your life around culture and adventure, Colombia can be a fantastic second base, especially if you are careful not to cross that 183 day threshold and fall into the tax net before you are ready.
In many cases, the smartest strategy is not one or the other. It is both. Use Mexico as your stable, convenient base with residency and long term options. Then layer Colombia into your year for several months at a time as a “freedom upside” country where your dollars go further and your life feels bigger, while staying tax non resident there. That is exactly the kind of multi country expat strategy we design with our clients.
Build Your Mexico and Colombia Strategy With Someone Who Has Lived Both
If you want to move beyond theory and actually build a life that works across borders, culture, and time zones, that is what my team and I do every day.
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If you have at least 1 million dollars in net liquid assets, we can help you design a custom strategy that includes Mexico, Colombia, or any other country that fits your goals. We work with top legal and tax advisors across jurisdictions so you understand the implications before you move, not after.
If you are earlier in the journey and still building the plan:
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📘 Relocation Roadmap Guidebook
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Step by step guidance on visas, taxes, logistics, and lifestyle design.
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🏡 Free Moving to Mexico Guide
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https://www.entrepreneurexpat.com/mexico -
✅ Free Moving Abroad Checklist
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The real question is not “Mexico or Colombia?”. It is “What kind of global life do you want, and which country should come first?”.
