|Peso Rate||Weather||Philippines Time||Join Our Mailing List|
There are a number of visa options for retirees. The Philippine Retirement Authority offers one program that should be changed, in my opinion. Very few foreigners choose Philippine Retirement use it because it requires an investment of $50,000 to $75,000 (U.S.) for a year. There are better ways to retire here without any investment, just small fees. Most retirees consider $50,000 too much to invest in a foreign country with an unstable economy. I would not do it on a bet. The program does have special benefits, but none you can't do without. This plan is under study because the idea of paying a country to spend your hard-earned retirement money in it is not drawing retirees like flies to honey. People don't want to deposit that much to Retire in the Philippines and it is not necessary.
Retirement Visa, Best in My Opinion
Some retire on a tourist visa. That sounds strange, but is easily done. It costs $20 per month to stay on a tourist visa. The other requirement is that you must leave the country for at least one day, once a year. Though you are officially a tourist, you retire in the Philippines.
Most who are doing this make an annual two-day trip to Hong Kong or Thailand and buy a bunch of cheap electronic goods. A package deal including hotel and transfers costs about $280.
That is probably the best way to retire here, at least at first. Visas to retire in the Philippines, however, if you are married to a Philippine citizen are not necessary. You can become a permanent resident, retired, and not have to check in at the immigration office every two months, but only once a year. You will not be required to pay $40 every two months. And you will not be required to leave the country once a year as on a tourist visa. You are treated as though you have a retirement visa.