The Philippines was recognized as one of the best places where US expatriates (expats) could retire in 2020, according to a recent newsletter from Forbes.
It was among 25 countries chosen by the American business magazine.
The Philippines was described to be an “English-speaking Pacific Ocean nation of 7,400 islands” with a warm climate.
Forbes noted that the country’s official language was English, and that it offered a low cost of living for retirees.
“Healthcare is adequate and affordable. Crime can be a problem. Permission to stay for retirees in the form of a special resident retiree’s visa is relatively easy to come by,” Forbes wrote.
The newsletter highlighted that the country did not tax foreign source income, and the absence of double taxation because of a tax treaty with the US.
However, it pointed out that there was some unrest in “a remote province.”
According to Forbes, retiree centers included Tagaytay and Subic Bay, though the former has been affected by Taal Volcano’s recent eruptions.
Other Southeast Asian countries included in the Forbes’ list are Thailand, Indonesia and Malaysia.
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