Should You Retire in The Philippines?
12/10/20235 min read
SHOULD YOU RETIRE IN THE PHILIPPINES?
The Philippines offers many ways and there are several reasons that you might want to move there. Such as moving for work, studying, joining a family member, or even for retirement. First, however, you must obtain the appropriate visa to move into the country.
Who needs a visa to move to the Phillippines? And how can I move to the Philippines?
I`ll be answering those questions in this blog
So, if you`re reading this, then you must be interested in moving to or retiring in the Philippines.
Consider this to be an overview of the differences between the U.S. and the Philippines when it`s time to retire.
Overall, the Philippines has a cheaper cost of living..but there are some differences that you would need to consider before making a decision. I am actually considering this myself....
There are different types of visa`s so you must know which one is best for you.
Everyone will need a visa to move to the Philippines. If you wish to stay for the long-term, you will have to apply for a long-term visas.
The Currency is in U.S. dollars
Here’s how much you can expect to spend in Manila:
Rent for a one bedroom condo in a popular part of the city: $1450.00 per month approximately
Dinner at a nice restaurant: $5.35-$8.56 approximately
SIM card: Free, and payment of around $4.28 per month for 4GB of data approximately
Transport: Around $2.24 for a 20-minute Grab ride approximately
I have gone into more detail below about the pro`s and con`s of moving to the Philippines...so continue below
The Cost of Living is much more affordable compared to the United States
THE PROS (Philippines and US)
**It`s a beautiful country
**Property taxes are much lower
**Education costs are lower
**The cost of Electricity is much lower in the Philippines
CONS (some negatives)
**Medical: The availability of Hospitals and medicines
**Food is good expect it is possible that they use MSG sometimes
*More about the visa requirements and cost of living below
An example of a type of visa that you might be interested in...
The SRRV The special residence retiree visa
This is the visa that you will need to retire in the Philippines
SRRV
Taken from this website PRAGOVPH
BENEFITS
Some of the benefits include
1. Indefinite stay with multiple-entry/exit privileges;
2. You will have exemption from:
• Philippine Bureau of Immigration ACR-I Card (Annual Report)
• Customs duties & taxes for one time importation of household goods & personal effects worth up to US$7,000.00 Tax from pensions & annuities
• Travel Tax, if retiree has not stayed in the Philippines for more than 1 year from last date of entry
• The Student Visa or Study Permit
3. Free subscription to the PRA Newsletter;
4. Receive discount privileges from PRA accredited Merchant Partners;
5. Receive free assistance in transacting with other government agencies;
6. You will have access to the PHILHEALTH benefits & privileges.
Credit for the below information:
www.visaguide.world
Who Needs a Visa to Move to the Philippines?
Everyone will need a visa to move to the Philippines. If you wish to stay for long-term purposes, you will have to apply for long-term visas.
There are a few countries that can enter the Philippines visa-free but only for a short period. If you want to extend your stay, you must have the necessary visa.
How Can I Move to the Philippines?
The Philippines offers many ways and there are several reasons that you might want to move there, such as moving for work, studying, joining a family member, or even for retirement. First, however, you must obtain the appropriate visa to move into the country.
You can apply for a visa at the Embassy or the Consulate of the Philippines in your country or at the Bureau of Immigration (BI) in the Philippines.
Moving to the Philippines for Work
Moving to the Philippines for work requires obtaining a work visa. Aside from the work visa, you have to apply for an Alien Employment Permit (AEP). Your employer has to apply for it at the Department of Labor and Employment (DOLE) regional offices.
Depending on the length of the work contract, an AEP will be valid for one to five years and is renewable for a maximum of five years.
Moving to the Philippines to Study
If you wish to pursue higher education in the Philippines, you must apply for a long-stay student visa. In addition, the educational institution must be accredited by the Bureau of Immigration (BI).
When you arrive in the Philippines, you must report to the accepting higher education institution (HEI), which will help you secure the Alien Certificate of Registration (ACR) and Certificate of Residence for Temporary Students (CRTS) from the Bureau of Immigration. The validity of the visa will depend on your length of study.
Moving to the Philippines for Retirement
If you want to move to the Philippines for retirement, you will have to obtain a retirement visa through the Special Residence Retiree’s Visa (SRRV) program. The SRRV program offers many options that you can choose from.
The Philippines retirement visa (SRRV) allows holders to enter the country multiple times and permanently reside there. When you obtain this visa, you are granted permanent residence in the Philippines.
Moving to the Philippines for Family Reunification
You must apply for a long-term spouse visa to move to the Philippines for family reunification. The Philippine spouse visa is issued to the spouses of Filipino nationals and/or their dependent children. However, this visa is only available to specific countries
The spouse visa allows you to live permanently in the Philippines. But also, some important information, the visa is only valid for one year, after which it will be re-evaluated to determine whether you are qualified for permanent residence status.
Cost of living in the Philippines
Compared to the United States, the Philippines is a very affordable place to call home.
Prices are fairly similar to the rest of South East Asia, and using a small budget gets you considerably more than it would in other parts of the world.
The cost of living in the Philippines can pretty much be whatever you want it to be. There’s no shortage of budget-friendly options, but you can also enjoy a little more luxury for a relatively reasonable amount.
The following list is in U.S. dollars
Here’s how much you can expect to spend in Manila:
Rent for a one bedroom condo in a popular part of the city: $1450.00 per month approximately
Dinner at a nice restaurant: $5.35-$8.56 approximately
SIM card: Free, plus the cost of around $4.28 per month for 4GB data approximately
Transport: Around $2.24 for a 20-minute Grab ride approximately
I hoped that you have enjoyed this blog, thats all I have for now!
Steve
My new Store, Shop here:
