MANILA, Philippines – Deciding where to settle down after your retirement? Foreigners might want to consider the Philippines after it bagged a spot in Forbes magazine’s “20 Best Foreign Retirement Havens for 2015.”

“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,” Forbes said in its website.

The business magazine, which often comes out with lists and rankings of countries and personalities, further noted that foreign income is also untaxed in the Philippines.

A foreign national can easily obtain permanent residency by showing their retirement income, it said.

“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.

Forbes said it based its rankings on the following factors: cost of living, taxes, medical care, climate, security and crime, cultural attractions and hospitality, as well as ease of return to the US.



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