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Stripped back to basics
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Southeast Asia is loved by travellers for its exotic culture, spectacular beaches, great food and warm climate. The cost of flying to such exotic locations is no longer reserved solely for the wealthy, with several budget airlines competing on these popular routes.
Anyone who has spent time in Southeast Asia will know that the general attitude of the region is this:
Please visit. Please spend lots of money. Please leave.
Naked Expat
Southeast Asia welcomes tourists with open arms (why wouldn’t they, tourism forms a substantial part of their GDP). Unfortunately, for expats, retirees and long-stay visitors like digital nomads and freelancers, living in Southeast Asia remains difficult and a culture of “Why are you still here?” exists.
Unlike most of its Southeast Asian neighbours, the Philippines makes an effort to attract expat retirees, offering an easy, perk-filled path to permanent residency. The standard of living in the Philippines is high and the opportunity for adventure is great, whilst the cost of living is one of the world’s greatest bargains.
Although you can never tell when an earthquake or volcano is going to hit, you are definitely guaranteed rain during rainy season. Throw-in some violent typhoons for good measure and this is what it’s like in the Philippines during rainy season. It’s one thing to be in the Philippines during the dry season, when skies are bright and the weather is idyllic, but it’s a whole different ballgame when the rain is falling so fast and hard you quickly find yourself wading in ankle-deep runoff while walking down the street. If you’re OK with life in the Philippines during monsoon season, you’ll love it when the sun is shining.
Experiencing the Philippines during rainy season will also make you appreciate how vital it is to take the risk of flooding seriously and make it a top priority when deciding on where to live. It is also a key factor in deciding on whether to buy or rent a property and the fundamental design of any house building project.
The Philippines offers several competitive retirement programs through its Philippine Retirement Authority. Most expat retirees opt for the Special Resident Retiree’s Visa. You qualify if you’re at least 50 years old and receive a pension worth at least $800 per month for an individual or $1,000 per month for a couple.
In addition, you’ll be required to deposit $10,000 into an accredited Philippine bank ($5,000 for retired foreign armed forces/agencies). You can also qualify without a monthly pension by depositing $20,000. This amount can be put toward a long-term lease or the purchase of a condo or townhouse valued at more than $50,000 (as long as the transaction is done within 6 months).
In addition to granting you the ability to stay in the Philippines long term, a Special Resident Retiree’s Visa also entitles you to PhilHealth, the government health care program, exemption from certain taxes and access to special Philippine Retirement Authority benefits, including its “Greet and Assist Program,” where you’re met on arrival at the airport.
The Philippines is a linguistically diverse place with more than 100 local dialects spoken. English is an official language alongside Tagalog, the primary language. You can enjoy a full life here without having to learn Tagalog, although any effort to do so will be met with wide smiles of appreciation from locals.
Depending on your lifestyle and where in the Philippines you choose to settle, your cost of living could be as low as $800 a month for a couple. Much depends on location and whether you wish to live as a peasant or a King! The cost of fast internet (where available), electricity and foreign imported goods is high. Many foreigners forego air-conditioning unless the heat is unbearable as air-con gobbles-up electricity, causing your monthly electricity bill to skyrocket into the hundreds of dollars.
The tax situation in the Philippines is friendly to expat retirees. The country taxes income earned in the country, but not foreign pensions, Social Security and annuity income for foreign residents.
With more than 7,600 islands and some of the most spectacular ocean scenery in the world, the Philippines understandably appeals to beach lovers. However, remove the rose tinted spectacles and consider all the advantages and disadvantages of your location before committing to anything.
Buying a home in the Philippines is more complicated than it can be in other parts of the world due to restrictions on property ownership. Foreigners are permitted to purchase condominiums and townhouses only. Land ownership is limited to Filipino citizens.
Rental options range from budget to luxury, but even luxury rentals are a bargain. You’ll find rental services in every city with an expat community. However, the best ways to find a property to rent are word of mouth, walking around the neighbourhoods where you’re interested in living and looking for “for rent” signs. You’re more likely to be able to negotiate the terms of the lease by dealing directly with the owner than by working through an agency.
Manila is the capital of the Philippines and home to three Joint Commission International-accredited hospitals. Manila is where you’ll find the country’s best health care options. Manila has developed a reputation as one of the world’s best medical tourism destinations.
You will also find a high standard of care in other major cities the government has targeted as retirement hubs, including Angeles City/Clark, Dumaguete and Cebu. Healthcare in the Philippines is far less expensive than in the U.S. or Europe. General consultations cost the equivalent of about $6, and consultations with specialists cost about $10.
Like everywhere in the world, the Philippines has its downsides. In some areas of the Philippines, the infrastructure isn’t dependable, and power outages (brownouts) are a part of everyday life. Political volatility and civil unrest have made safety a concern in some areas, however this is mainly constrained to the Sulu Archipelago and Marawi City.
The most important thing to be aware of is that a large percentage of the Philippines’ population lives in poverty. This is the first step to avoiding many common problems. Wealthier local neighbourhoods and retirement communities popular with expat foreigners are often far removed from dangerous areas and incorporate private security for extra peace of mind. The government is committed to the tourism industry, and keeping popular areas safe is a priority.
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