PHILIPPINES
Many Americans have strong ties with the Philippine Islands due to marriage to a Philippine national or military service there. The island nation (7,107 islands, 70 languages, 450 distinct dialects) is worth a look for people who want a lower cost country, love islands and beaches, need visa options for early retirees, and don't like learning foreign languages. Like Thailand, it is extremely far from America, and many Americans who settle in Thailand have considered the Philippines, and vice versa. The Philippines is unique in Asia in being a mostly Roman Catholic country, and the church there has a very strong influence.
The Philippines has some strong pros and cons to consider:
Pros
- Lower cost country
- Expats usually employ at least one maid or servant
- English is widely spoken
- The people are in general remarkably positive towards Americans
- A cuisine with influences of a colonial past (Asian and Western)
- Good quality medical care for a fraction of US prices
- Great variety of beautiful islands and beaches for regional travel
- Retirement visa available
- Possible to stay long-term on tourist visas
- Heaven for lovers of snorkeling and scuba diving
Cons
- Political instability
- High crime rate mostly in Manila
- Widespread poverty of the population
- Seasonal destructive storms
- Very far away from America
- Terrorist violence and kidnappings, mostly in Mindanao Island in the south
- Americans cannot buy land
For those who want to explore retiring in the Philippines, there are lots of possible locations within the island group. Obviously, an upper class suburb of Manila is going to be a lot more expensive than a country retreat on the more isolated islands of Negros. Cebu City and Island are also gaining in popularity. There is even a cooler mountain retreat area of Baguio which is very popular as a hot season resort for Manila residents.
If you tour the islands and like what you see, there is probably a way for you to stay. If you are married to a Philippine national, you probably already know how easy it is for you to retire in the islands. For all others, there is the cheap way, and the expensive way.
The cheap way is to use a series of tourist visas and internally-obtained tourist visa extensions, paying small fees all along the way. With this strategy, it is reported that many people are staying for years and years. You must physically leave the country once a year; most people fly to Hong Kong or Bangkok for a shopping holiday. This all begs the obvious question: how secure are you going to feel being a perpetual tourist knowing that the rules can be changed any minute?
The expensive way is the official government retirement visa program. Under this program, those under 50 years old must deposit 75,000 dollars in a fixed interest rate account in an approved Philippine bank. Those over 50 need only deposit 50,000 dollars. In theory, you can get the money out of the country if you decide to leave, but it is not so surprising that this program is not very popular. The reasons are that most people are shy to put that much cash into the banks of a politically unstable country and that there are other cheaper options that still allow a long stay.
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