Did you ever dream of retiring on a tropical island? You have to look no further than The Philippines. Situated just east of Viet Nam and south of China, The Philippines are perfectly positioned to offer you a home base from which you can explore and enjoy all the beauty and excitement of the far east. With 7,000 separate islands sprawled out over the South China sea, there are numerous exotic beaches and locations to explore. From tropical jungles to mountains and sparkling shorelines, the Philippines has it all.
Retiring in The Philippines is as easy as applying for a SRRV. The Special Resident Retirees Visa (SRRV) is offered to expats who want to maintain a home in The Philippines. All this can be yours “if the price is right.” One of the main requirements is a deposit in the Philippines of anywhere from $10,000 to $50,000 depending on your age and pension status. Older retirees can get in for $10,000 if they have a pension of at least $1,000 a month for a couple. Without a pension, it would be $20,000. All the information on the Government requirements can be found on the official website, the Philippine Retirement Authority.
Yes, you can retire in the Philippines
Cost of living in The Philippines
The big question for many is “how much can I save living in the Philippines?” The answer is, “quite a lot.” For instance, the website Expatistan.com reports that a basic lunch would cost about $4.60 in dollars. A normal-sized apartment can be had for between $400 to $700, with utilities adding another $70 to $80 bucks. Not bad really. If you look on their site they have a great list of costs to compare. While it’s definitely cheaper it’s not “Cambodia ” cheap.
You can find an average apartment in Cebu for less than $500. Recently. you could get a nice studio in Ortegas for $480. The best way to find a place would be to check out an expat forum board and narrow down the region you would want to look. There are many different locations fo consider. You can find mountain top hideaways or sparkling beach bungalows. Betsy Burlingame, a popular Travel writer, has compiled a list of the 8 safest places to live in the Philippines. Her research offers valuable insights from expats recently living in the Philippines.
Where to live in the Philippines
With over 7,000 islands the choices can make your head spin. A good way to begin searching would be to join a popular expat forum and learn from the folks that have already done the looking. One of the most popular is the Philippines Expat forum. There is a ton of info on every subject you could think of. So, check it out and begin gathering your information.