[Sticky] What to Expect in the Moving to the Philippines Forum
Moving to the Philippines is a huge move! We are here to help!
Anytime you are planning to make an International Move you will certainly have a lot of questions.
We have specific forums about specific topics like Shipping, Health, Visas and so on. However, there are always questions that fall outside of the listed topics.
If you have questions that don't seem to fall under the other forum topics feel free to ask them here. Live in the Philippines has been online since 2006. Bob Martin, the founder of the site has lived in the Philippines since 2000, and the rest of the team also have extensive Philippine Experience. We want to share our experience with you.
Other longer-term expats are also welcome to answer questions or share their Philippine Experience!
Got a question? Can't figure out where to post it? If it doesn't seem to fit elsewhere, then this is the place!
I would be happy to answer and discuss, but I don't have any idea how much your retirement is. Could you elaborate that and give me some idea? For example, I have a close friend who is a retired Army Major who is retired with a 100% disability. His retirement is $7k/month. He can really live well. Others, though, I know don't get anywhere near that amount.
Just help me out with a little more information.
Depends a bit on where you live in the Philippines.
I would say that at $2000, you could live most anywhere fairly comfortably. If you are in Manila it might be a little bit tight, but not bad.
If you are at $1500, the larger cities might be tight. Out in the Provinces should not be a problem. In most larger cities I usually recommend an available income of around $2k or a bit more.
Hi Bob, I have been following your work for many years and appreciate the information you have given all of us. I have recently retired in the U.S., and my wife and I are planning to move to the Philippines soon. My wife is a dual citizen, both here and in the RP, so this is not an issue for her. I anticipate doing a 13a visa for myself and was wondering if there are organizations that you are aware of, and would recommend, who will process the 13a for us from start to finish?
My next question(s) have to do with finances: The 13a visa requires proof of at least $10,000 in a bank account. Can that be in a U.S. bank account, or does it have to be in a Philippine bank account? If it is a Philippine account, then that brings up the question of the IRS requirements under FATCA (and a few of their other OCD's). How much of a problem is it to comply with FATCA?
Hi Quigley. Thanks for joining us here on the LiP Forum!
Do I know anybody who can help you process the 13A from start to finish? Yep! Me and my team! We would be happy to help you with that.
There is no requirement for any amount of money in a bank account. That is a fallacy that is all over the Internet, but I can assure you it is absolutely not true. The only visa with such a financial requirement is an SRRV.
Under FATCA, as I recall, as long as you have $50k or less in a foreign bank account you are OK. But that is only from recollection.
Thanks for the quick reply. Yes, the $10,000 requirement for a 13a is all over the internet. As for the FATCA requirements, I suppose I should talk to my CPA, and find out how much of a burden it is to comply. I would really like to move my investments to the RP. Many folks on the various forums are keeping under $10,000 in their Phil bank accounts in order to avoid having to comply with FATCA. Of course this could be more fallacy as with the 13a requirements.
We are also planning to take a 40 foot shipping container of personal belongings with us. Quite frankly, I am still burnt out from dealing with my wife's immigration to the U.S., and I would prefer to have someone just handle this for us.
I suppose this would be a good time for us to move this discussion to a more private method of communication. If you would drop me a quick email, then we can discuss this matter further.