Retiring in The Philippines

There are many people who choose to retire in The Philippines and this is not very unusual. If you are getting old and have rheumatism, what could be more better than to live in a sunny country? Back in the day, The Philippines have no Laws regarding foreign retirees. We didn't feel the need to have one but as the years go by, trends have become so clear that many foreign retirees choose to settle in The Philippines mainly because of the weather and of course, your dollar stretches a long way around here. A retiree can very well live here modestly on $800 budget per month. If you want to live luxuriously with a helper waiting hand and foot anytime of the day consider spending $1,500 a month and that's still a good deal, I should say. Things have changed a lot and there is a "Special Retirement Visa" to better protect foreign retirees who chose to spend their times here. This is a good sign because foreign retirees will see that Philippines are paying attention to their needs and create laws to protect their interests. I know that many foreigners wanted to invest in The Philippines but doing business here is quite restrictive as the laws protect ownership of businesses. One big requirement that makes foreigners say nay is that corporations established in The Philippines must be 60% Filipino-owned and only 40% Foreign-owned and of course, nobody likes that. Another big hurdle is acquiring properties where a foreigner cannot have a property in his own name. He can't purchase a house and a land although the law allows foreigners to own Condominiums. I have a Swedish friend who wanted so much to have a beachfront house and he asked me how he can do this. Although foreigners cannot own a land, they can rent a property as long as fifty (50) years and this Contract Agreement will just depend on the owner of the land and between the foreigner but this is possible and this is actually how most foreign investors do it when they want some vacation house or property. If you have inquiries, you can send questions and I will be glad to be of help.