So you are thinking about moving to the Philippines? You get a reward! Whether you’re looking to retire, start a business, or just want to take a longer break from your current life, this tropical paradise is one of the top expat destinations. With stunning beaches, year-round sunshine and an incredibly welcoming culture, it’s hard not to fall head over heels in love with the country.
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But aside from the breathtaking beauty, what other reasons make living in the Philippines an attractive option? Let’s explore the top 3 reasons why you should move to this stunning archipelago.
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1. Financial reasons
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For starters, finances can be less of a headache when you choose the Philippines as your new home destination. The cost of living is much lower than many other countries, and it’s easy to transfer money from your home country or invest in local businesses.
Buying a home in the Philippines is surprisingly easy. You can purchase real estate under your own name or form a corporation that you control and use it to buy real estate. It is also important to note that as an expat you are not allowed to own any land within the country. However, I was happy to realize that foreigners could own condos and small residences.
Besides real estate and the ease of life in the Philippines, banking is a breeze. There are many banks to choose from and you can open an account either in person or online – depending on where you live. Also, many of the banks offer great interest rates on savings accounts and other financial products that could be beneficial for expats.
Since English is one of the two official languages, people who want to send money to the Philippines from the United States have no problem if they need assistance upon their arrival in the Philippines.
2. Cost of Living
The cost of living in the Philippines is incredibly low compared to many other countries in the world. Prices are generally half that of Europe or North America and can range from basic needs like food and lodging to luxury items like spa treatments and luxury resorts.
Imported goods can still be quite expensive, but most local products are fairly cheap and often of very high quality. Eating out at restaurants is especially affordable – with delicious dishes costing less than PHP 200 (equivalent to $4) per plate! The current inflation rate is 7%, which means that prices for everyday items remain relatively stable despite currency fluctuations.
The best part about the cost of living in the Philippines is that you can enjoy a high standard of living without breaking the bank. That means you still have plenty of cash left over to explore your new home and all of its amazing attractions, experiences and opportunities!
3. Living in the Philippines
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The people of the Philippines are among the most hospitable and friendly in the world. They treat expats as part of their own family, and many form close friendships with those who live in their neighborhoods. English is one of two national languages here, so communication is usually fairly easy, even if you don’t speak Tagalog or another local language.
In addition, there are plenty of things to do with locals – from night markets and karaoke bars to beaches and islands just waiting to be explored. With so many different cultures, it’s easy to find something that will pique your interest!
The Philippines offers expats and retirees alike an incredible experience – from stunning beaches and culture-rich cities to low cost of living and friendly locals; This archipelagic state promises an unforgettable trip. Whether you are looking for adventure, relaxation or financial freedom, relocating to the Philippines can offer it all.
Many expats choose to live in the Philippines
The Philippines is home to some of the most beautiful beaches and islands in the world. Many expats live here due to the relaxed lifestyle with plenty of opportunities to swim, surf or just laze on the beach with a cold beer in hand.