The Best Places To Retire In 2025

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    THE 10 BEST PLACES TO RETIRE IN 2025

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      Philippines Facts & Figures

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          Basket of dried chili pepper. cost of living in philippines philippines facts
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          Fun And Interesting Facts

          Lief Simon, Director of Overseas Property Alert, Founde of Simon Letter, and Founder, of Global Property Advisor

          Reviewed By Lief Simon

          Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

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            Information TypePhilippines Data
            Population119.11 million (November 2024 est.)
            Gross Domestic Product (GDP)US$471.5 billion (2024 est.)
            GDP Per CapitaUS$3,877 (2024 est.)
            Inflation Rate3.33% (2024 est.)
            CurrencyPhilippine Peso (PHP)
            Exchange Rate Versus U.S. Dollar58.72 pesos per U.S. dollar (November 2024)
            LanguageFilipino (official; based on Tagalog) and English (official); eight major dialects (Tagalog, Cebuano, Ilocano, Hiligaynon or Ilonggo, Bicol, Waray, Pampango, and Pangasinan)
            CapitalManila
            Population of Capital City14.94 million (metropolitan area)
            Time ZoneUTC+8
            SeasonsTropical marine; northeast monsoon (November to April); southwest monsoon (May to October)
            International Dialing Code63
            Electricity220V/ 60Hz
            System of GovernmentRepublic
            Current LeaderRodrigo Duterte
            Income Tax Rate for Residents5% to 32%
            Property Tax1% to 2%
            Capital Gains Tax6%
            Inheritance Taxnone
            Rental Income TaxTaxable income is computed by deducting income-generating expenses and personal allowances from gross income.
            Transfer Tax0.5% of the selling price, or zonal value or fair market value, whichever is higher.
            Sales TaxVAT rate 12%
            Restrictions on Foreign Ownership of PropertyThe Philippines restrict foreign ownership to condos and in any given building foreigners can own only up to 40% of the units.
            Local Chamber of Commercehttp://www.philippinechamber.com/
            American Chamber of Commercehttp://www.amchamphilippines.com/
            Primary ExportsSemiconductors and electronic products, transport equipment, garments, copper products, petroleum products, coconut oil, fruits
            Residency and Visa RequirementsYou qualify for the SRRV classic visa program by depositing US$50,000 in a Philippine bank or purchasing a condominium costing US$50,000 or more if you are between ages 35 and 49. If you are age 50 or older, you need invest only US$10,000, provided you have an individual pension of at least US$800 per month. A couple must be able to show pension income of at least US$1,000 per month.
            Special Benefits for Foreign Residents or RetireesFour types of special resident retiree visas are offered, starting with the SRRV smile program that allows you to remain in the Philippines for as long as you want provided you deposit US$20,000 in a Philippine bank and keep it there for the duration of your stay. This visa is available to anyone who is 35 or older.
            National Airlinehttp://www.philippineairlines.com/

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              • The name ‘Philippines’, was given to the island by King Philip II of Spain.
              • The Philippines are the fifth largest English speaking nation in the world.
              • Three of the world’s ten largest shopping malls are in the Philippines.
              • The Philippines exports more tropical fruit than any other country. 
              • The Philippines is unique as Asia’s only predominantly Christian country.
              • When the Philippines are at war, the national flag is raised upside down.
              • Jellyfish Lake has over 13 million jellyfish. The stings on these jellyfish is mild enough that you can swim with them.
              • The Philippines celebrate Christmas from September until January.
              • The national drink is Tanduay rum. This is often cheaper than water.
              • The world’s smallest hooved animal, the Philippine mouse deer, is native to the Philippines.
              • One of the most popular methods of public transport is the jeepney. This brightly colored buses, modified from Jeeps left behind by the U.S. army in the 1940’s.
              • The Philippines contain 3 active volcanos. It also receives hundreds of earthquakes every week, but most of these are so slight they cannot be felt.
              • The national dish is adobo which is a form of chicken stew.
              • Basketball is the most popular participation sport. Lots of people enjoy watching boxing and cock fighting.
              Lief Simon, Director of Overseas Property Alert, Founde of Simon Letter, and Founder, of Global Property Advisor

              Reviewed By Lief Simon

              Lief Simon is the managing editor of Global Property Advisor, Simon Letter, and Offshore Living Letter. He has purchased more than 45 properties, investing in 23 different countries around the world.

              Start Your New Overseas Life Today

              A world full of fun, adventure, and profit awaits! Sign up for our free daily e-letter, Overseas Opportunity Letter, and we’ll send you a FREE report on the 10 Best Places To Retire In Style Overseas Today 2024






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                Philippines Facts & Figures- FAQs

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                Portugal is on the Iberian Peninsula, in the southwest corner of Europe. Portugal shares that peninsula Spain, its larger neighbor.

                Portugal is known for Fado music and also for being the largest cork producer in the world.

                Portugal’s high season is during July and August, especially to coastal areas. Expect to pay at least a 30% premium on accommodation and encounter warm weather across the country.

                Yes, Portugal is a sought after retirement destination. In fact, it’s one the world’s top retirement havens.

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