Retirement in the Philippines: why it’s attractive, and four places to see out your golden years
- Low living costs, lifetime non-immigrant visas, friendly, English-speaking population, and accessibility make the Philippines appealing for retirees
- A favourite of Chinese pensioners, here are four of the best places in the country in which to retire
Whether you imagine spending your golden years sitting outside a villa with sunset views and sea breezes, or with your feet propped up in a penthouse within a bustling city, chances are you could find your dream retirement home in the Philippines.
Its geographic diversity, tropical climate, relatively low-cost services and facilities and proximity to the rest of Southeast Asia has made the Philippines an appealing option for expats and retirees alike.
Data from the Philippine Retirement Authority (PRA), a government-owned corporation mandated to develop and promote the country as a retirement haven, shows that there are some 64,512 foreign retirees currently living in the Philippines.
Most of them (83 per cent) are Asians, with people from China topping the list. The US, the UK, Germany, and Australia are also among the top 10 sources of foreign retirees in the country.
Miwa Ryuzo, 82, is a Japanese retiree who has lived in the Philippines for 30 years. He cites its proximity to Japan as one of the reasons why he chose to settle there, as well as the fact that most Filipinos are able to communicate in English.
“I also love that there are many Japanese restaurants here and it is easier to play golf,” Ryuzo adds.
Since 1985, the PRA has been working with the country’s local governments to promote the Philippines as an ideal retirement destination for foreign nationals.
We are unique because we are the only country with a government agency dedicated to the promotion of retirement for foreign nationals
PRA-registered retirees can live and stay in the Philippines through the Special Resident Retiree’s Visa (SRRV), a special non-immigrant lifetime visa, explains Noehl D. Bautista, who works for PRA’s marketing department.
SRRV holders may stay in the Philippines for as long as they want without giving up their citizenship. They also enjoy multiple-entry privileges, access to greet-and-assist programmes, discounts from PRA merchant partners, tax-free importation of personal household goods and other government help.
“We are unique because we are the only country with a government agency dedicated to the promotion of retirement for foreign nationals,” Bautista says.
The good, bad and ugly sides to Manila, the Philippines’ chaotic capital
In the Philippines, retirees can lead a comfortable life for less than US$1,000 per month, including accommodation, dining out and domestic travel. The country also offers many good business and investment opportunities due to its steady growth.
Before moving to the country in 1996 to work as international business development professional, French expat Martial Beck worked in the export department of a furniture maker in France. Beck, 52, says that above all, he plans to stay in the Philippines when he retires because of the great weather and the people’s hospitality and family-centred culture.
For those looking at the Philippines as a potential retirement destination, PRA recommends the following areas.
1. Dumaguete
Also known as “City of Gentle People,” Dumaguete is the largest city in the province of Negros in the southern Philippines. It has been consistently named as one of the best places in the world to retire in, as per the Retire Overseas Index, International Living, Forbes and others.
Dumaguete is home to four universities, including Silliman University – the first American University in Asia, and a number of other colleges. It also offers modern and affordable medical facilities.
2. Cebu
The main business hub of the Visayas region, Cebu offers a mix of both urban and natural attractions within easy reach. There is entertainment and world-class restaurants in the city and white-sand beaches and clear water in Bantayan, Moalboal, and Malapascua.
Cebu City was previously ranked by personal finance website CBS Moneywatch as one of the best and most affordable places to which to retire. It has four large private medical facilities, including the Cebu Doctors’ University Hospital, which is considered one of the best in the Philippines.
The city has an international airport which offers direct international flights to Hong Kong, Malaysia, Singapore, Japan, China, Taiwan, Los Angeles, Dubai, and South Korea.
3. Davao
Davao is considered as one of the most liveable cities in the world, largely because of its low crime index. Numbeo.com, a crowdsourced global database, ranks it the second safest city in Southeast Asia, after Chiang Mai in Thailand. The city is the country’s first to have a centralised emergency response hotline for its residents.
It has the distinction of being the only Philippine city to reach the top 100 in the London-based City Mayors Foundation’s world’s fastest-growing city list, in 2011. As one of the fastest developing cities, it is shaping up to become the business hub of the southern Philippines. Davao has an international airport with regular scheduled flights to Doha, Singapore, and Hong Kong.
4. Makati, Metro Manila
Despite its terrible traffic and high cost of living, most Asian retirees settle in the National Capital Region, particularly in the business district of Makati. Apart from offering access to shopping centres, high-end boutiques, dining outlets, entertainment facilities and hospitals, its high-quality condominiums are one of the reasons retirees are keen to invest in this area.
In 2012, it was named as the “most retirement- and ageing-friendly city” by the PRA, having complied with the age-friendly city criteria of the World Health Organisation. Factors include cost of living, the friendliness of locals, climate, health care, and peace and order.
