MANILA — The Philippines secured a spot in the Forbes magazine’s “20 Best Foreign Retirement Havens for 2015.”
The website said that the country’s low cost of living makes it one of the few countries that people might consider in choosing the best country to settle down after retiring.
“For U.S. retirees the principal appeal of the Philippines is a low cost of living in a tropical environment full of English speakers and outdoor beauty,” the website said.
The website also noted that foreign income is untaxed in the Philippines.
Aside from that, foreign nationals can also easily gain permanent residency in the country by presenting their retirement income.
Forbes is a business magazine which releases lists and rankings of places and personalities.
“Popular locations include Tagaytay, a suburb of Manila, the capital, that is elevated and therefore cooler, and Subic Bay, with an infrastructure from the old U.S. Navy base. Non-stop flights between Manila and the US average 15 hours,” it added.
A complete list of the 20 best countries for retirement includes:
6. Costa Rica