Southeast Asia remains one of the top destinations for retirement globally. Low cost of living, beautiful beaches, warm weather and affordable healthcare are just a few reasons why retirees continue to flock here when it comes time to quit the rat race.
Those wanting to retire in Southeast Asia have no shortage of options. Thailand continues to be popular in spite of an opaque visa process. Malaysia is another retirement hotspot with the Malaysia My Second Home (MM2H) program making it easy to purchase property and obtain a long-stay visa.
However, the Philippines stands out as perhaps being the most welcoming place for an international retiree, and we aren’t simply talking about the warm hospitality the country is known for. The Special Resident Retiree’s Visa (SRRV) issued by the Philippine Retirement Authority is arguably the best in Southeast Asia. This visa offers multiple-entry access and the right to stay indefinitely in the Philippines.
And yet, the Philippines lags behind its regional peers as a retirement destination. According to Philippine government data, a total of 6,437 retirement visas were issued in 2018, the highest total on record. This still pales in comparison to Thailand were a total of 80,000 retirement visas were issued by the government, according to data from the Bangkok Post.
In terms of cost, the Philippines is just as competitive as Thailand although the options available do differ. If you are applying for a Thai retirement visa, you are required to make a deposit of USD25,645 or have proof you receive a monthly pension of USD2,083 or more. All visa applicants in Thailand must be 50 years of age or older.
There is no pension dependant Philippine retirement visa option. Instead, applicants are required to make a deposit of USD10,000 and have proof of a USD800 monthly pension. Alternatively, you can apply with a deposit of USD20,000 and no pension requirement. Those between the ages of 35-49 can receive a Philippine retirement visa with a deposit of USD50,000.
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