Cebu is better known as the “Queen City of the South” as it offers both modern lifestyle and nature’s grandeur as part of everyday existence. It has been promoted as the better alternative to Manila because the quality of life is much better in this Visayas than the Philippines’ capital. For example, one can enjoy the beach in a matter of minutes. You can even play golf in a matter of a few minutes. Those who had stayed in this province for an extended period of time can definitely attest to the fact that this is one of the most livable cities not only in the Philippines but in the entire planet as well.
It is the perfect island to retire. According to the latest statistics, there are more than 40,000 foreign retirees living in the country already and of which Cebu owns a very respectable share of the pie. If you have friends from other countries who want to retire in Cebu, you might as well know how foreigners can retire in this country.
Different Ways to Retire in the Philippines
Most people would conclude that marrying a local is the solution but it is just one of the several ways foreigners can retire here. One can also secure a VISA which is renewable after the term expires. This is quite tedious though. Thus, to make it easy for foreign citizens to retire, the government has created a Special Resident Retiree’s Visa (SRRV). The guidelines are as follows:
- Foreign nationals whose age is at least 35 years of age but not more than 50 are obligated to deposit a certain amount to be eligible for a special retiree visa. Note that excluded in this program are people deemed by laws that are not fit to enter the country.
- There are four types of SRRV available. These are:
SRRV Smile for healthy and active retirees 35 years old and above.
SRRV Classic for healthy and active retirees 35-49 years old.
SRRV Courtesy / Expanded Courtesy for diplomats and former Filipinos.
SRRV Human Touch for ailing retirees. - The amount of deposit varies according to type of SRRV and it is as follows:
For 35 years old and above = $20,000.
For 35-49 years old = $50,000.
Mactan Newtown
Talking of real estate investments where foreign retirees can really benefit from it, you should take a look at Mactan Newton which is one of the hottest investment deals in the country right now. It has all the requirements foreign retirees are looking for in retirement haven such as:
- Very huge 28 hectare township which is planned as a one stop destination.
- It has luxurious condominiums and high technology office and business hubs as well as upscale entertainment and recreation centers.
- Near an international airport for easy going in and out if they want to visit their country of origin.
- Home to world class resorts and recreational facilities.
- Minutes away from sand, sea, and shore and other natural environments where one can commune with nature with lesser hassles.
Indeed, Mactan Newtown is very hard to resist for foreign retirees especially now that there are four retirement visa programs they can choose from to gain multiple entry in Cebu and the rest of the country as well.
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