SHOULD YOU NEED A BANK DEPOSIT TO RETIRE IN THE PHILIPPINES (How to retire in the Philippines)

HOW MUCH SHOULD YOU PAY TO RETIRE IN THE PHILIPPINES?

Here are the guidelines for Foreign Nationals and Former FILIPINO CITIZENS who wish to retire in the Philippines

RETIREMENT OPTION AND THEIR REQUIRED TIME DEPOSIT

1. With Pension
50 years old and above - The required time deposit is 10,000 US dollars plus a monthly pension of 800 US dollars for a single applicant and 1,000 US dollars for couple.

2. Without Pension
35 to 49 years old - 50,000 US dollars time deposit
50 years old and above - 20,000 US dollars time deposit
Former FILIPINO Citizens (at least 35 years old, regardless of the number of dependents - 1,500 US dollars)
Ambassadors of Foreign Countries who served and retired in the Philippines, current and former staff members of international organizations including ADB (at least 50 years old ) 1,500 US dollars

3. A resident retiree can bring with him, without additional deposit, his spouse and child who is unmarried and below 21 years old or if the spouse is not joining, two (2) children (provided they are unmarried and under 21 years old).

Additional children with the same qualifications may also be allowed to join the principal retiree provided there is an additional deposit of 15,000 US dollars per child.
The said time deposit is subject to the same conditions with that of the principal retiree.

This option does NOT apply to Former FILIPINO Citizens.