Hi Folks
I'm selling my business and retiring to the Philippines in the near future.
My partner, Gloria is a Filipino staying with me here in NSW (12 month visa).
Am interested in communicating with other guys who are a bit further down the process of retiring into The Philippines.
Financial Status
Am retiring on the Aussie Age Pension with not much cash to spare. Have looked at the $10,000 deposit to get residential status and am not keen on it because I don't think I'll need that much as a deposit on the kind of house I'm after.
Am also not entirely comfortable with my spouse having to own the land. It's OK if I pass away before her - but what happens if I outlive her?
Any comments most welcome!
Where to live
I want to be by the sea, not far from "town and decent medical services" 1-2 acres with 3 bedroom cottage. Away from typhoon hazard and in a Filipino community that is congenial to a kindly Aussie Old Fart becoming part of.
I've toured around a bit and have decided Zambales is worth having a closer look at - mainly because it's on West Coast and reasonably accessible to Manila for overseas visitors coming to see us.
We're planning to rent an apartment in Subic or Olongapo initially so we can have a good look around.
Any suggestions would be most welcome.
My Interests
Boating - just a day boat for fishing and motoring around - so a nearby river would be great
Home workshop - I have heaps of tools
Daily exercise - walking, swimming
Gardening
Blue water sailing - experienced sailor interested in occasional crewing on international yachts - but not around the buoys every weekend.
Gloria's interests
Cooking - cooks international cuisine
Small business
Gardening
Pets
Taking care of me!
Looking forward to connecting with you all
Aussie Engraver
Aussie Retiree Moving to Zambales Soon (I Think)
Good luck with your requirements. Look me up if you are in cebu. Always keen to catch up with fellow Aussies.
Aussie Engraver wrote:Am also not entirely comfortable with my spouse having to own the land. It's OK if I pass away before her - but what happens if I outlive her?
If you outlive her, then it can get complicated.
From what I have read, it can depend on if a will is made, or not, and how many of her relatives are still alive.
In some cases her assets are distributed according to law, and the house would go to her relatives, before a foreign husband.
In some cases, assuming no prior children, parents etc., the foreign husband will get the title to the property, until his death. He cannot bequeath it to another foreigner.
if I was doing this, after buying it for her I would probably try to get a long term lease on the property from my wife, ensuring I could live in the property, no matter what, for the next 50 years.
At the very least, get a good professional guide on this. Preferably a western firm with Philippine Law experience.
Too many people with wrong or not complete info, and that includes local lawyers I think... What am I saying.. "I think" - I am damn sure !!!
A local lawyer told me I need to go to an Australian Embassy to get my signature witnessed, after they had done what they do for 500 peso (as in what a JP does in Aus). I didn't need the Embassy involvement, it was accepted with a Philippine lawyer only witnessing my signature. But the Philippine lawyer didn't know that, and assumed being a foreigner I needed the embassy to be involved.
Thanks for your comments ABCDiamond - a sensitive but realistic cause for concern that now even my partner can see I have cause for concern
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