{"id":51,"date":"2009-08-04T13:52:44","date_gmt":"2009-08-04T13:52:44","guid":{"rendered":"http:\/\/zestmag.com\/online\/?p=51"},"modified":"2012-09-09T16:39:09","modified_gmt":"2012-09-09T16:39:09","slug":"the-making-of-a-retirement-haven","status":"publish","type":"post","link":"http:\/\/zestmag.com\/online\/the-making-of-a-retirement-haven\/","title":{"rendered":"The Making of a Retirement Haven"},"content":{"rendered":"

\u201cWhile other countries experience long, harsh winters, the temperature in the Philippines virtually stays the same, ranging from 25 to 35 degrees centigrade. So whether it is basking under the sun during summer, soaking under the rain during wet days, or simply indulging in your favorite leisure the rest of the year, the Philippines is truly your retirement haven,\u201d so states the Web site of the Philippine Retirement Authority (PRA).<\/strong><\/p>\n

\"\"<\/a>

BEAUTY ENCAPSULATED<\/strong>
The Philippines is being sold as a retirement haven – and why not, when it has so much to offer.<\/p><\/div>\n

Established on July 4, 1985 under Executive Order No. 1037, which created the Philippine Retirement Park System, PRA is the lead government agency mandated to attract foreign nationals and former Filipino citizens to retire in the Philippines. In fulfilling its mandate, PRA hopes to contribute to accelerating socio-economic development, increasing the foreign currency reserve, and providing attractive packages that will further improve the quality of life of foreigner retirees.<\/p>\n

The other benefits it offers include the low cost of living in the Philippines, one of the lowest in the world if the current foreign currency exchange situation is considered, the natural and man-made attractions that the country offers, affordable quality medical care, and a choice between cosmopolitan or rural settlement, depending on one\u2019s preference, among other perks.<\/p>\n

PRA\u2019s efforts are anchored on the issuance of the Special Resident Retiree\u2019s Visa (SRRV), a special non-immigrant resident visa that provides its holders with multiple-entry and indefinite stay in the Philippines, tax-free incentives and privileges, the right to set up a business in the country, and value-added services and benefits from PRA partner establishments.<\/p>\n

PRA describes the SRRV as \u201ca lifestyle visa for those who enjoy perks and privileges, a hassle-free visa for the frequent traveler, and a retirement visa for the elderly who need special care for their special needs.\u201d<\/p>\n

The Philippines currently has 13,000 SRRV holders, 40% of whom come from Taiwan. Last year, 1,200 retirees availed themselves of the program, with the bulk coming from Korea. In early 2005, 1,300 retirees, mostly coming from Mainland China and Korea, signed up.<\/p>\n

Interestingly, those who avail themselves of the SRRV come to the Philippines not necessarily to retire. Since retirees only need to be 35 years old when applying for an SRRV, the privilege can be\u2014and is\u2014used by foreigners seeking to open a business in the Philippines. This, the PRA says, helps in the country\u2019s economic growth.<\/p>\n

In 2004, PRA remitted to the national government P40.72 million in cash and P34.06 million in income taxes. This year, the PRA has been earning P2.87 per P1 spent as compared to last year\u2019s P2.16: P1 ratio.<\/p>\n

\u201cIt is only in retirement when one finds time to pause longer and experience enjoyment in the simple things in life. The Philippines affords that luxury,\u201d PRA states.<\/p>\n

For more information on retiring in the Philippines, contact the Philippine Retirement Authority, 29\/F Citibank Tower, 8741 Paseo de Roxas, Makati City, tel. no. [632] 848-1412, or send an e-mail to inquiry@pra.gov.ph, or check out www.pra.gov.ph.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

Many Filipinos leave the Philippines for supposed greener grounds; but if the government has its way, everyone who left should be encouraged to come back to retire in the country.<\/p>\n","protected":false},"author":6,"featured_media":52,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5,4,3,7],"tags":[33,30,32,31,34],"class_list":["post-51","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-destinations","category-newsmakers","category-spotlight","category-travel","tag-executive-order-no-1037","tag-philippine-retirement-authority","tag-philippine-retirement-park-system","tag-retirement","tag-special-resident-retirees-visa"],"_links":{"self":[{"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/51","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/users\/6"}],"replies":[{"embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/comments?post=51"}],"version-history":[{"count":6,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/51\/revisions"}],"predecessor-version":[{"id":363,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/posts\/51\/revisions\/363"}],"wp:featuredmedia":[{"embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/media\/52"}],"wp:attachment":[{"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/media?parent=51"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/categories?post=51"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/zestmag.com\/online\/wp-json\/wp\/v2\/tags?post=51"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}