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What are the pros and cons for a retired businessman to settle down in the Philippines?
admiralsubic
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You need do on line, From there, But much more freedom in life, Personal & business. A much better life stile for much less cost, You can live the life you want. Problem much internet & calls from there go threw China, So care needed, It is best to keep your money in your Country. & return once a year to there to do all you need to do personal. In business in the Philippines it need be over 1/2 owned by a Philippine citizen, So not the best place to start a business. This is why many older men go there. Have a young lady & child. They can put the over half of the business in the child’s name but can control it till the child is 18. Business can be wild there. More like the old west in America. Also U.S. Federal tax is lower than Philippine FederAL TAX. So saves tax money to use the U.S. in money made in banking & such. As Philippines does not charge tax on overseas money. For most it is a much safer Country to live in. Except for pick pockets. As expats you gain information or thought from others in your group of what is happening in there Countries, Not just what the news says. So lots of advantages. But always remember it is a 3rd world Country. Government can change over night & it is always best to have get home cash stashed to do that. Internet is slow, power is unreliable, major medical you may need move to the city that's hospital does that needed. Philippines has good general medical. But a specialist you need go to them. If in a different city you need go to that city.
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I will begin with the cons: Your profile shows that you studied in the UK and you could still be living there, so it is the hot weather that will make you uncomfortable. Of course, you can use the air-conditioner, but your electric bills will skyrocket if it is on practically the whole day and night.traffic, especially when it rains heavily; if it is payday and during long weekends.gets flooded easily when it rainsinefficient public transportation so you have to buy a car to get to your destination fast and make it comfortable for youAs to pros: you will find that the commodities are cheap since your income will either be in pounds or in euroyou can avail of a house helper and a driveryou can afford to buy a house in a beautiful and good neighborhoodyou can afford tertiary hospitalsthere is the Philippine Retirement Authority that you can Google to find out how to retire in the countryyou can buy practically anything that you like or need even the high-end brandspresence of banks and ATMs throughout the countryif churches, beaches or mountains are your interests, these can are found throughout the countryif you need a life partner, you will get the most wonderful, caring and loving womanyou will find that Pinoys are kind, helpful and will go out of their way to help you