Philippines: Foreigner’s Retirement Paradise?
Here are the Five Reasons Why
As a local here in the Philippines, I couldn’t agree more with tourists saying that they are having a paradisiacal life whenever they visit here. Who would ever say no to white sand beaches, fresh fruits, tasty seafood, incomparable country-side routine, welcoming voices of Filipinos, and everything that this tropical place is serving? If you haven’t come across the Philippines yet, maybe you can hop into one of its 7,641 islands and experience first hand what I’m talking about.
Yes, the Philippines is a tropical paradise in South East Asia. Considering that it is found in the tropics, a region that is located along Earth’s equator so reasonably we only have two seasons here the dry and wet season.
Does it sound enticing? I mean if you’re the person who’s having that dearest dream of nirvana vibe, well Philippines got you.
Last night, I posted a Facebook status concerning this topic because I want to know the thoughts of other locals too.
“Philippines, becoming the foreigner’s retirement destination?
Let me know about your thoughts, I want to know your take. More open on hearing words with “real estate” as one of the reasons, why.”
I didn’t get a large number of engagement on that status. Five likes and two comments, how could I make use of that though? I understand, I no longer spend a lot of time in a day scrolling over my Facebook newsfeed and people might have forgotten my account, so yes I am not surprised if I have less engagement. Fortunately, I got significant thoughts from those who commented, and what they have shared is actually on the list of the reasons why the Philippines is a retirement paradise for foreigners.
First, The Pristine Beaches.
I am not saying that beaches outside the archipelago of the Philippines are not beautiful and not an ideal place to spend your 50s. What I am trying to say is, if you want to take your “living by the beach and island life” to the whole new level, you can do it here. It’s not just about you sitting along the seashore, witnessing a beautiful sunset while having the sound of waves as music to your ears. Island life here is something you can call an emotional luxury. It gives you a rare feeling of genuine happiness and contentment, something you can hardly find along with the hustle and bustle of the city.
A friend who commented on my Facebook status said that her fiancé who happens to be an American wants to spend his retirement in the Philippines because of the beautiful sceneries and beaches, he even said that he wants to go back to Oslob, Cebu City. It’s a small coastal town of 30,000 people and it is considered to be a great hub of tourist attractions and is well-known for the best spot to swim along with the whale sharks.
He even added that he likes the simple life that Filipinos have and the mini retail stores he has seen while walking down the street, we called it sari-sari stores.
And this led us to our second why….
Second, The Cost of Living.
The Philippines is on the list of Forbes’ “The Best Places to Retire Abroad on 2020” — Warm, English-speaking Pacific Ocean of 7,400 islands.
Given that the Philippines is considered to be a developing country so the cost of living is not too high compared to those of well-developed western nations. The lifestyle here is very simple, especially those who are living in the provinces where the primary means of survival is through farming and having some kind of piggery business and the like. According to my research, if you are a foreigner who wants to settle here on your retirement you can enjoy a comfortable life at $600 per month, $900 for a couple or you can stretch it out to $1000 to $1,200 for a more comfortable one.
Having to spend your retirement here is a great idea if you’re looking forward to experiencing the value of your hard-earned money for the past 30 years.
Third, It is not difficult to communicate with the Filipinos.
I understand that communicating with the locals in every different country is challenging because every nation has its unique language. Worry not, even though the Philippines has 178 dialects Filipinos got you because English is our widely-spoken second language and Tagalog as our first official one, so the language barrier is not an issue here. We can talk throughout the day and night, exchange ideas, and even laugh at each other’s jokes.
Fourth, Investing in Real Estate is still possible.
Yes, I know for a fact that foreigners are prohibited from owning land in the Philippines. But, real estate is not just limited to “land” right? Foreigners can still invest in real estate or purchase a property through a corporation provided its ownership is 60% or more by Filipino citizens such as condominium units.
One thing to put in mind too is to secure a visa. Apply for a Special Resident Retiree’s Visa (SRRV). It is issued by the Bureau of Immigration of the Republic of the Philippines. It’s a special type of visa that grants the holder multiple-entry privileges and the right to stay in the Philippines permanently or indefinitely.
To know more about the benefits of having the SRRV, check this.
Lastly, The Filipinos.
Yes, the Filipinos. The whole world might already know it though, people of the Philippines are considered to be the happiest humans on earth, the welcoming ones and hospitable people since many ages ago. Even in our lowest state, we can still manage to just laugh at our problems and make things as light as possible. And that’s very evident because the people who are visiting the country especially those coming from Western countries felt and experienced it so we can’t blame them if they have fallen in love with the rich culture of the Philippines and the people.
See you around the Philippines!
