A Quick Guide to Retiring in the Philippines - Holiday Home Times

Many foreigners visit the Philippines each year, some of them come here for the beaches, while others come here on business. Then there are also those who decided to settle here because of their spouse, or the laid-back lifestyle.

Despite the influx of foreign retirees, many foreigners are still clueless about what it?s like to actually live here, not as a tourist, but as an expat. Before you decide where to settle, you should have been to the place a couple of times. Unfortunately, that?s not the case for everyone.

To prevent culture shock, and to help you make the most of your retirement, I?ve compiled a list of basic things you should know before choosing to retire in the Philippines.

Where to Settle:

This is a very common question amongst foreigners, who want to retire here but don?t have any relatives. There?s no perfect answer to this question, as everyone is different. The answer, for me, depends on your needs, and what you plan to do with your time.

There are literally hundreds of places to choose from, whether you want to live in the city, a beach, or a mountain retreat. Here?s a list of popular places to settle:

• Cebu- has a perfect combo of provincial and city life. The cost of living is relatively cheaper and it?s famous for good seafood, Lechon and surreal diving spots.
• Metro Manila- is the country?s capital. It?s the perfect location for people who want to party, shop and have fun.
• Subic, Pampanga- is a former US military base; and many Americans have decided to settle there.
• Tagaytay, Cavite- is a windy tourist spot just an hour away from Manila.

Cost of housing in the cities listed is relatively higher than those in the province. For instance, rent in Manila can cost $300-$1000, while rent in Cebu is $200-$800.

For those looking for a countryside or beachfront retreat, the places listed below are famous vacation destinations:

• Boracay
• Baguio
• Camuiguin
• Batangas
• Palawan

The Culture:

The Philippines is a westernized country, but it also has influences from the Spanish and Chinese, so don?t expect the culture to be the same. Don?t worry though, Filipinos are friendly and everyone is very helpful. Aside from that, life here is relaxed and people aren?t always in a hurry. Haggling, or asking for a lower price when buying something is also expected in local markets. Also, don?t be shocked when you see two or three families living together, because it?s normal for Filipino families to live with their extended family, such as the grandparents, aunts, and cousins.

Good Investment Opportunities:

You?re retired and you probably have a pension, but that?doesn?t?mean you don?t need the extra money. Good thing the Philippine government has made it easier for Foreigners to do business in the country. Here are three options:

1. Invest in real estate- you can buy a condominium unit and own it 100%, then you can have it rented and earn from the lease. You can also buy a land and own it in full, as long as it?doesn?t?exceed 1000 square meters.
2. Export products- the Philippines is full of natural resources and export quality products, so you have lots of options. According to the FIA, there?s no restriction on foreign ownership of an exporting company that distributes at least 60% of their product internationally.
3. Build a company- you can also build a company here, as long as you meet the requirements of the FIA.

Things to Do:

There are lots to do here, so you won?t get bored- even if you?re not the outgoing type.

Here?s a list of things you can do here:

• Swim with the biggest, most gentle white sharks (Butanding) in Donsol.
• Sing in a Karaoke with your friends
• Explore underground rivers in Palawan
• Swim in hundreds of different beaches around the country
• Go surfing in Siargao
• Eat and be merry. The country has different cuisines, and each place has their own specialty.
• Party at famous street festivals, such as Sinulog, Panagbenga and Dinagyang
• Relax and unwind in Tagaytay
• Soak in a hot spring at Laguna

The Philippines is a popular place to retire, not just because of the cost of living, but also because of the relaxed lifestyle, friendly people, and gorgeous tourist spots.

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Source: http://www.holidayhometimes.com/living-in/philippines/quick-guide-retiring-philippines.html

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