Dementia caregivers are at risk for stress, depression, and a multitude of negative health outcomes, yet little research has examined the extent of these issues in caregivers from Latin America. The purpose of this study was to compare the mental health and health-related quality of life (HRQOL) of dementia caregivers to healthy controls in Cali, Colombia. Ninety dementia caregivers and 51 healthy controls completed measures of depression, satisfaction with life, stress, and HRQOL. Although it was hypothesized that dementia caregivers would report lower levels of mental health and HRQOL than controls, caregivers only reported higher depression levels. This finding suggests that dementia caregivers in this region, even when they have access to health care, are in need of mental health services and other caregiving resources. Such interventions would likely improve the mental health of caregivers and quality of care that caregivers are able to provide for individuals facing dementia.