The Philippines: A Retirement Haven According to Forbes Magazine

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Forbes, a leading business magazine in the US, recently named the Philippines as one of the World’s 20 retirement havens of 2015. The article mentions numerous reasons as to why the country is perfect for those who wish to live a quiet and peaceful life after working very hard.

Coron Palawan
Coron Palawan

Some of these reasons include:

  • Nation of English Speakers – the country is full of locals who speak fluent English. Language is absolutely not a barrier for foreigners, especially in the cities.
  • Uncomplicated Permanent Residency – the country requires only a minimum retirement income to grant permanent residency. It won’t be any hassle at all.
  • Ease of Return – there are multiple non-stop daily flights from Manila to the US that averages 15 hours. Foreign retirees and their families can fly back and forth easily if they so wished.
  • Beautiful Tropical Environment – the Philippines is riddled with beautiful island destinations and a tropical environment that makes anyone feel like they’re constantly on vacation. It can be a very relaxing atmosphere, depending on where you live.
  • Numerous Tourist Spots – Forbes also specified areas like Subic Bay, which is an American Navy base, as well as Tagaytay, one of Luzon’s most popular tourist destinations. The country is also full of other, differently-themed tourist spots everyone can enjoy.
  • Untaxed Foreign Income – according to Forbes, the Philippines does not tax income of foreigners residing in Philippine territory.
  • Low Cost of Living – one dollar can go very far in the Philippines. Necessities like food and shelter are not expensive at all. The cities are abundant with malls that will provide everyone with foreign or local goods.

Tayid Lighthouse in Mahatao Batanes
Tayid Lighthouse in Mahatao Batanes

Other countries that are part of this list include Australia and Asian countries like Malaysia and Thailand. Northern America countries like Belize, Canada, Mexico, and Panama are also hailed as retirement havens. In South America, countries like Chile, Colombia, Costa Rica, Ecuador, Nicaragua, and Uruguay have made the list. As for Europe, countries like Croatia, France, Ireland, Italy, Portugal, and Spain, are also good for retirees.

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