So, you’re considering a move to the Philippines? You’re in for a treat! Whether you are looking to retire, start a business or just take an extended break from your current life, this tropical paradise is one of the top destinations for ex-pats. 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.
But apart from its 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 impressive archipelago nation.
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1. Financial Reasons
For starters, finances can be less of a headache when choosing the Philippines as a destination for your new home. The cost of living is much lower than in many other countries, and it’s easy to transfer money from your home country or invest in local businesses.
Buying a house in the Philippines is surprisingly easy. You can purchase property under your own name or establish a corporation that you control and use it to buy real estate. It’s also important to note that, as an expat, you are not allowed to own land in the country. However, I was glad to realize that foreigners could own condo units and small residences.
Besides real estate and the ease of living in the Philippines, banking is a breeze. There are plenty of banks to choose from, and you can open an account either in person or online – depending on where you live. Plus, many of the banks offer great interest rates on savings accounts as well as other financial products that could be beneficial for ex-pats.
As English is one of the two official languages, people who want to send money to the Philippines from the USA wouldn’t have any problems in case they need any support when they arrive in the Philippines.
2. Living Costs
The cost of living in the Philippines is incredibly low compared to many other countries in the world. Prices are generally half of what you may expect to pay in Europe or North America and can range from basic necessities, such as food and accommodation all the way up to luxuries like spa treatments and luxury resorts.
Imported goods can still be quite expensive, but most local products are fairly cheap, and they’re often very high quality too. Eating out at restaurants is especially affordable – with delicious meals costing less than 200PHP (equivalent to $4 USD) a plate! The current inflation rate stands at 7%, which means that prices for everyday items remain relatively stable even if the currency does fluctuate.
The best part about living costs in the Philippines is that you can enjoy a high standard of living without breaking the bank. This means you still have plenty of money to spare for exploring your new home and all its amazing attractions, experiences, and opportunities!
3. Life in the Philippines
The people of the Philippines are some of the most welcoming and friendly in the world. They treat expats as part of their own family, and many make close friendships with those who live in their neighborhood. English is one of two national languages here, so communication tends to be quite easy even if you don’t speak Tagalog or another local language.
In addition, there are plenty of activities to do with locals – from night markets and karaoke bars to beaches and islands just waiting to be explored. With so many diverse cultures, it’s easy to find something that will pique your interest!
The Philippines offers an incredible experience for expats and retirees alike – from stunning beaches and culture-rich cities all the way through to low living costs and friendly locals; this archipelago nation promises an unforgettable journey. Whether you’re looking for adventure, relaxation, or financial freedom, moving to the Philippines can provide it all.
Many expats choose to live in the Philippines
The Philippines is home to some of the world’s most stunning beaches and islands. Many expats choose to live here due to its laid-back lifestyle with plenty of opportunities for swimming, surfing, or simply lazing by the beach with a cold beer in hand.