I know, you’ve likely hear this question a time or two before.
For some who are going to read this who can’t separate the image of old men drinking themselves to death in bars while “ladies of the evening” (very young ladies at that) pick their pockets) from the many other ways to spend a retired life, then it’s likely that the answer to the Retirement Destination question is “NO”.
I always attempt to give you the straight answers to questions here on PhilFAQS, the site that answers your Frequently Asked Questions about the Philippines. I don’t “sugar coat” anything. If I tried to tell you that there are old men making a fool of themselves in girly bars here, you’d know I was lying, and where would my credibility be then?
But I can also tell you that the “old men” (and even the not so old ones) who see the Philippines as nothing more than a place to act out immature fantasies are far, far from the only foreigners living here in the Philippines by choice.
In order to form your own answer to the title question properly, you have to look at things in balance … because those of you who think there is, for example, no “sex trade” or “foolish old men” in their own country must be looking at the world with blinders on.
Now I’d propose that one of many decision factors that should be thought through is, does the government of the Philippines make it relatively easy and affordable for folks to retire here in the Philippines. Some of you may recall I haven’t delivered (yet) on a promised series I started some months back which was going to answer the question “Why Chose the Philippines”.
You can consider this article as an ongoing installment in that series.
Is it relatively inexpensive for folks of retirement age to relocate to the Philippines? Yes, indeed. In common with two other notable retirement destinations we are going to talk more about … Thailand and Malaysia, the Philippines has a very flexible and affordable long-term visa system in place … it’s called the SRRV … Special Residents Retirement Visa.
I’ve mentioned the SRRV many times before here on PhiFAQS but today I came across a neat resource that actually is brand new.
Some weeks back I met (online only, so far) a fascinating lady named Susan Dudley. Ms. Dudley has lived and worked in the Philippines for years, and even though she is officially retired, she’s taken on a new role … marketing the SRRV via the excellent resources of the Subic Bay Freeport Chamber of Commerce. Ms. Dudley, welcome to the PhilFAQS “club”, and let me be the first of I am sure many from this site in the future who thank you for helping sort out the information in this many faceted program and offering yourself as a resource for people who want to learn how to do retirement “right” in the Philippines.
Now before I close let me be quick to emphasize a could things that people always seem to breeze past … and then prove by their comments that the never actually read the article itself. (I know that doesn’t apply to “you) but you’d be surprised how many people do just ‘scan’ rather than read and then let go with both barrels restating a lot of inaccurate, or at best, semi-accurate statements that have been floating around since before even I started reading and writing about the Philippines.
First of all the SRRV is for people of retirement age. Although some “flavors” of the program allow visa holders to work here in the Philippines, a lot of opportunities don’t exists for younger, actively working folks who might well be better served with a Foreigner Working Visa.
Secondly, the SRRV is not a program for those who are penniless. Some versions of the visa require a substantial investment, all require some investment and financial responsibility. I always advise people not to come to the Philippines without at least a modest cash reserve as well as a proven way to earn more income. The SRRV will not be for you if you’re broke .. for rather obvious reasons.
Third, the SRRV is not needed for folks who qualify for a “13” series visa .. married to a Filipino or former Filipino citizen. There are some special cases where even those who qualify for a marriage-based visa might benefit from the SRRV, but in the vast majority of cases the SRRV offers a similar path to retirement as the 13(a) and 13(g) permanent resident visas for those not married, or not married to someone who can sponsor them in the 13-series programs.
Lastly, the most glaring inaccuracy I hear all the time is, “The Philippine government is selling you a visa and once you get in the program you have lost all your savings.” Stated simply, that is just not true. The money you invest to qualify for the SRRV program is always yours. You decide where to place it (within approved programs), and if you decide the SRRV program is not for you, you can pack up and move somewhere else, taking your investment back with you.
Note: An expert weighed in here and pointed out a couple of things in the preceding paragraph that could be more clear:
…. folks should be aware that, if they DO utilize their investment for any of the authorized purposes, (house, condo, etc) they will be subject to paying PRA a hefty annual “visitorial fee” .
The other point is, they are not compelled to use the invested $. In my case, I bought my house some time ago … the SRRV $ just sits in the bank and I collect the monthly interest … As long as it remains, I get to keep my SRRV – no additional fees, charges or complications.. no annotations against my property.…Maintaining the SRRV $ intact is almost like placing a surety bond…
The SRRV … is it for you? Only you can make that decision, but a big vote of thanks and a tip of the blog hat to the folks at the Subic Bay Freeport Chamber of Commerce for providing some extra help in making that decision.
Hi Dave;
Interesting information, a lot I had no idea about. Although it does not apply to me I’ll pass it on to friends in the states who asked these questions. I’ve pass you site info to them also and have yet to read their comment. (I told them you don’t bite!)
Yes, there’s some interesting info there .. and Susan is a real resource … a wealth of fist-hand information.
I welcome all comments and question … I also take phone consultations at 1-719-966-4295 … it’s best to email first to make sure I’m available, I don’t sit by the phone, but you know me, I love a good chat. It’s also best if people have ‘answerable” questions .. I’m not good at “Should I or Shouldn’t I” questions … those of us who live here know the best answer to that … ‘Sup to you’
Sir:
I would say that HOW a person deals with frustration, and lack of services should be in the mix as to whether the Philippines is a place for them.
I live in northern Cebu.
1. We average at least 1 unannounced Brown Out per day. If have a computer, need UPS, so as not to burn out computer as power goes up an down.
2. Generally every other Sunday is a Brown Out, lasting from 6 to 8 hours.
They turn the electric off at 0800, that is when you know that day is a Brown Out Sunday.
3. We are reworking the water supply to our house. The local water supply during the day has more air than water. The meter measures the air also. After 2000 there is a lot of water, little air. Right now we have to re-work the supports for our current water tank, The concrete that was put in went in to the ground 4″ and was 8″ square. Doing the math A*A+B*B=C*C(right Triangle) a Difference of 2″on the hypotenuse . Have 500 liter tank, had to reinforce tower as it was bending, pressure not the same on all 4 legs. Yesterday needed 1, 1/2 T, bought 1 installed, it was cracked an leaked, bought second one, installed, cracked an leaked, bought 3rd T, it worked no leaking.
AS FAR AS I KNOW THE LOCAL WATER IS NOT POTABLE, locals do not drink if can afford bottled, use bottled water for all cooking an drinking. WHEN IN ROME.
4. Signed up for Satellite TV, Called 4 times about billing, finally got one in email yesterday. LACK OF CUSTOMER SERVICE.
5. I have not had a physical exam, in 30 + years. Figure I will be dead if need to go to a hospital, nearest decent one is 1.5 hours away. NOT A BIG THING IN MY LIFE, have 3 score an10+. hopefully will not see +15.
Could go on but this is enough, for now
Thanks for writing in, Fred.
As you’ll note in virtually every article I write about living here, I caution people not to make a decision based on cost of living … which is what most everyone seems to focus on.
I’ve also noted, many, many times that the farther you live from big cites, the more infrastructure problems you are going to have. “They” say that the closer you live to a major city like Manila or Cebu, the more things cost. Maybe this is so. But the farther away you live the more you are going to pay just for simple things we take for granted in the US, like water tat flows from the faucet, or lights that tune on when you flip the switch.
The house my wife and I live in is about 30 years old. It was lived in since new by the original owner and family until he moved to the US about 8 years ago, then rented out .
We are the first who ever bothered with a water tank, yet the municipal water .. home owner’s association water … is only on three times a day for an hour and a half at a time. Things just ai’;t the same here as they are in the US. See:
http://philfaqs.com/live-there/tanks-a-lot-philippines/
Although, one could just as easily live in a Manila condo and have all services like back home or better, or live in a place like the Subic Bay Freeport and have homes like this for reasonable, but certainly not cheap prices:
http://www.subicholidayvillas.com/
Good luck with your water and with the brownouts, we have had only a few here in Luzon, but even one is too damn many.
This is really a good source of information for someone who wants to consider the Philippines as their retirement place and I do agree with all the information written, rather facts I might say. Its nice to know too that this site offers the 1st step a retiree might need, consider, or need to know too before actually packing and going here. But, I’ m pretty sure also that whoever decides to retire in the Philippines, may you be alone or a couple, surely you’ll enjoy while living cheap in this country and with so many options of cities or places to relax and enjoy.
Thanks for the kind words, Teri. The whole theme of finding a cheap place to retire is very popular these days, and a great many sites don’t even have much information on Asian destinations in general or the Philippines in particlular. Teri has a site on ths subject at http://www.cheapest-places-to-retire.com for those who don’t know how to click and visit a commenter’s site.
I strongly urge peple NOT to pick a destination based solely on price, but then again, price is always a factor, and one can live cheaply in the Philippines, that’s for sure.