After nearly 2 years of lockdowns due to the Covid 19 Pandemic the world is slowly opening up again. Countries in Asia have been particularly hard hit by lockdowns and travel restrictions, meaning foreigners have been barred entry as well as locals who have been unable to get home.
The Philippines has been particularly badly hit with the economy taking a huge hit, and surging unemployment leading to significant poverty for many. Foreign investment has almost completely halted and many Filipinos who lived in Manila have gone back to their provinces.
Gradually, the government has realized that locking the economy and keeping kids out of school is not a sustainable long term solution and change is finally coming. Before the Pandemic, the Philippine economy was thriving and there was significant flows of money into the country.
While change will be slow, the demographics for the Philippines are very positive and barring any further pandemic events the economy will recover again. Before the pandemic, the Philippines offered a ‘retirement visa’ which had been very successful due to it’s competitive pricing compared to other similar offerings in Asia.
The Philippine Retirement Authority have relaunched their ‘Retirement Visa’.
Here are 6 reasons why you should be considering the Philippine Retirement Visa:
1. It is extremely competitively priced compared to other regional and International options.
2. It is clear that expats have a great quality of life in the Philippines, the climate is much better than a lot of places in Europe and let's be honest.. it's also much more affordable.
3. There are excellent hospitals and medical care in the Philippines.
4. If you're looking to acquire property it is significantly discounted after Covid 19.
5. English is widely spoken and used for all business transactions. This makes life much easier for you and also very comfortable.
6. It is a very favorable tax system for ‘foreign investors’.
Need help with:
Setting up a business in the Philippines?
Coaching and advice with regard to both residential and commercial property?
Independent Financial Advice both before and after retirement?
Trust and Estate Planning?
Astra has a strong presence in the Philippines and has the relevant licenses to help potential clients who are looking to retire in the Philippines. We offer a complete package from start to finish which also includes enabling you to enter the Philippines despite the current restrictions.
If you are looking for a fun, exciting, warm, friendly and cost effective retirement base either on a full or part time basis please get in touch so we can review your best options.