If you’re looking for the best place for your retirement, retiring to the Philippines is hard to beat. According to International Living, a leading website about retirement destinations, the Philippines made it to the list of the top 25 retirement destinations in the world. It was in the area of cost of living wherein the Philippines scored well. Out of 100 points, the Philippines scored 92. In fact, the Philippines was ranked as among the top 10 retirement destination in terms of cost of living. The country scored the same as Thailand, Cambodia, Belize, Guatemala and Ecuador. In the area of “fitting in”, the Philippines scored 92 points as well (out of 100). According to International Living, it is easier for foreigners to fit in the Philippines because English is its 2nd language, the locals are friendly and welcoming and there are expats’ communities.
It’s hard to decide to retire abroad. You have to do sufficient research to find the ideal destination for spending your retirement years. Here are some tips about the pros of retiring to the Philippines to help you with your decision.
The Pros of Retiring to the Philippines
- Lower Cost of Living – The Philippines won’t disappoint you if you’re deciding to retire abroad because of low cost of living. You can live comfortably in this country at a budget of $800 to $1,200 a month. Your budget would suffice for a luxurious lifestyle which includes dining out and in-country travels. Retired US workers have an average Social Security benefit of $1,328 every month which means it is enough to cover for your basic living expenses. Even if you are on a tight budget, you can afford to hire household help to do the cooking and cleaning.
- Incentives for Expats – As a country, the Philippines is very welcoming of expats. They have even established an agency whose sole purpose is to attract foreign retirees. You can enjoy a number of financial benefits if you retire in the Philippines, such as discounts for senior citizens (aged 60 and above), exemption from export travelling taxes and $7,000 worth of duty-free import of household goods. As an expat resident, you can work and start a business. If you are able to obtain a permanent residency in the Philippines, you can stay in the country for as long as you like. There is no expiration for your retiree visa. You can leave and come back to the Philippines without reapplying for your residency.
- Attractive Setting – The Philippines boasts of its tropical climate and the natural beauty of its land. The mountains are lush while the oceans are laden with colorful coral reefs. Everything in between is just as beautiful. You can easily be in awe and amazement of your surroundings wherever you are. The Philippines is an archipelago of 7,000 islands and you can never have enough of its attractive beaches such as Boracay in Aklan and El Nido in Palawan. These island beaches have a rich biodiversity where you can see limestone cliffs sprouting from the sea. These are some of the attractions that have lured many foreigners in retiring to the Philippines.
Are you planning to start a new life in the Philippines? Download The Philippines Experience Basic Expat Training Manual to guide you. It is an eBook written by an expat who is living in the Philippines and gives first hand information on how amazing the country is. The guide has information regarding the good, the bad, and the best and worst of the country, meaning that it gives you all the information that you need to know.
Article Source: https://EzineArticles.com/expert/Walter_H_Menuet/1833556
