Asian retirement

Discussion in 'Wealth Creation & Management' started by Maxwell, Jan 18, 2014.

  1. Maxwell

    Maxwell New Member

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    Morning all

    Wealth management seems to be the logical choice for this post.

    has anyone either retired to Asia? Or is anyone currently looking at their options?

    I am not 50, and the under 50 years of age, term deposit clause for Malaysia is a bit steep.

    http://www.thaiembassy.com/retire/retire.php

    http://en.wikipedia.org/wiki/Malaysia_My_Second_Home

    The Philippines looks a good bet to establish a second residence with a (minimal) $20k term deposit when under 50;

    http://pra.gov.ph/main/srrv_program?page=1

    I have lived and worked in Asia for many years, culture shock and day to day living isn't any sort of issue. I have lived and worked in all three countries, Thailand more than the others. In order of preference i would like to reside in Thailand. Malaysia then the Philippines, but i feel i need to move a bit faster that the restrictions on retirees age for all these visas would allow.

    Am looking for first hand feedback on the visa systems and in particular, reliable banking services in the three countries.

    thoughts?
     
  2. JulieW

    JulieW Well-Known Member Silver Stacker

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    Avoid Thailand. Good place to holiday but the government's anti-foreigner stance is intractable.

    Don't know the Phillipines but Malaysia in the east near Thailand would be my choice mainly because it's near Thailand, but the Islam issue is a past, present and future problem.

    I checked out Laos as an option and there's incentive and encouragement for businesses that employ Laotians. There are worse fates than a lazy French cafe by the Mekong.
     
  3. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    I've looked at this kinda thing. Going by current Visas, Cambodia is the easiest and cheapest option but it also the least developed. You don't want to be retired and aging and need to go to a hospital in Cambodia urgently. Thailand or the Philippines are probably better if you want to marry one of them so there's no need for visa runs. I'd be more inclined to go South America or Eastern Europe before South East Asia but it's a preference thing.
     
  4. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    Petey would probably have a fair amount of insight for this kind of thing.
     
  5. Clawhammer

    Clawhammer Well-Known Member Silver Stacker

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    Malaysia has a few 'internal ethnicity issues'

    Thailand is difficult/expensive for foreign born citizens to buy property.

    I beleive Renovator is bumping around those parts.... he'd have some great insights.
     
  6. Caput Lupinum

    Caput Lupinum Well-Known Member Silver Stacker

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    It's very difficult for foreigners to buy property (houses) in Thailand. You can buy the house but you can't own the land it sits on unless you're a Thai. It is possible to buy a house and take out a long lease on the land which would have to be in a Thai's name and it would have to be someone you could trust. The only other options are to buy/rent a condo, rent a house or marry a Thai and put the house in her/his name.
     
  7. mmm....shiney!

    mmm....shiney! Well-Known Member Silver Stacker

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    And cold beer issues.
     
  8. Yendor

    Yendor Member

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    I've met plenty of guys who live in SE Asia, but most of them have married women over there. From what I understand, Indonesia (Bali) and the Philippines are both easy to live in, but you can't own the land as a foreigner.
     
  9. petey

    petey Active Member Silver Stacker

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    Keep in mind that you don't need to bank in those countries any more than your visa requires you. Personally I would be banking in Singapore while living in your chosen location.

    That said the Philippines would likely be my pick for cultural reasons.
     
  10. renovator

    renovator Well-Known Member

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    ive been in the phils for nearly 3 years now friendly locals in most places . A lot of locals speak english all signage is in english (totally bizarre) for an asian country ! .
    Infrastructure is a bit hit & miss roads,internet etc but overall a great place to live
     
  11. JulieW

    JulieW Well-Known Member Silver Stacker

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    I'd like to hear more about Phillipines if you have the time Renovator.

    p.s. Petey, good suggestion on banking issues too.
     
  12. Maxwell

    Maxwell New Member

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    Thanks to all posters.

    The Phillipines looks to be the easiest option at the moment as far as I can see. It looks pretty simple to meet the SRRV Smile visa requiremets. Next time i have a month or two off work, i'll think seriously about flying up and sorting the visa.

    Without going into to much detail Renovator, how are you managing the visa detail?

    Do you know if there are any time in/out of country requirements to be met with this vias? i can't find anything mentioned on the site. I'd like to sort out a visa and come back to Aus to work for now, gving me the option.

    $20k in the bank and i can move up and can buy a place, sounds like a viable bolt hole.

    And yes, agreed with the Singapore bank, sorting that real soon, and with internet banking, convenience is there, I just want to get some $$ out of the Australian banking system and into whatever country I end up in.

    thanks again

    Regards

    Max
     
  13. renovator

    renovator Well-Known Member

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    Sure julie :) .It might be easier for you to ask me what you want to know rather than me write an essay not addressing the things you want to know
     
  14. renovator

    renovator Well-Known Member

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    im just rotating my tourist visa atm i can stay 16 months at a time just needing to go to immigration every 8 weeks & paying between $50 & $70 a time & once a year you need to get an I-card for an extra $50 its a photo id like a licence..You can stay up to 24 months but you need to go to manila to apply for the extension

    Theres a different visa that might be better than the retirement visa its called a Quota immigrant visa ..check it out it might suit you better . If your coming to the phils get in touch with a local visa agent they might be able to help you get the visa you require or point you in the right direction about which one suits your needs .
     
  15. Byron

    Byron Guest

    So have you done the old, fat white guy, with a 20 year old local girlfriend thing yet? :p
     
  16. JulieW

    JulieW Well-Known Member Silver Stacker

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    So what would be good places in the Phillipines to look at for a lazy westerner to live?
     
  17. long88

    long88 Member

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    can i ask what do you guys seek out in asia (philipine, thailand, etc ) in terms of retirement..

    i would have thought retire here western country is better in terms of medical advancement.. cleaner air.. better water.. it could be expensive.. but we can have a couple of property backing you up.. and pay the best insurance policy.

    there in asia.. you cant find all of the above.. only hot weather..

    care to shed some opinion here ?

    thx
     
  18. Phiber

    Phiber Active Member Silver Stacker

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    I find this interesting too...surely even with limited resources one should be able to find itself a nice spot near the beach somewhere in North Queensland - pretty curious what the attraction is about. I mean I can see it going on vacation, but living there would be a pain for me: TV not in your language, same with newspapers, shops, movies, people you bump into, at the supermarket... I don't know it seems like a high price to pay in terms of lifestyle?
    But then again I guess your money will get you a lot further there than here - is this the main reason?
     
  19. long88

    long88 Member

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    i must admit.. you can live like a king.. can afford a maid (oh.. how i miss those days)..

    but then again.. it is those lower socio economy people that you have to deal with everyday.. everything is $$$$.. lower quality job produced.

    life is cheap over there... you can easily get killed or robbed in the middle of the street (especially if you are anglo american type skin).

    i must admit i am from asia myself.. and i can see western country is safer.. there not safe.. you cant walk with your mobile talking to someone.. you always have to watch your surrounding.. with property.. all of the wall are build on the edges on the boundary of the land.. and you surround yourself with those big high wall.. to prevent people/thief coming in and steal stuff.

    now with the gfc/inflation.. life is even harder.. and thief are stealing from pretty much the minorty rich people on the street (if you are caught walking by yourself on the street.. bad luck !!), you always need a car to go from A to B.. even short distance.. to prevent theft or death (if you shout)

    ask me to retire there.. no thanks... i rather stay here playing golf.. or taking train going round and round to kill time.. or maybe go to casino to play pokies.. thats much more fun..

     
  20. Maxwell

    Maxwell New Member

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    For me it's all about having options. I will still maintain property in Australia..as I said, it's all about options.

    I do enjoy living and working in Asia, I have no problems there. Life is a little more 'raw' or 'edgy' I suppose if I had to put a finger on it, and I like that, I guess purely because they aren't force-feeding the bullsh1t rules and regulations that Canberra seems intent on shoving down everyone's throat. FFS, some halfwit that I backhanded in town because he deserved it, can now download an app and spend his days 'reporting' me to the cops. Why would anyone want to live somewhere like that?

    It's not the best comparison, but a lot of people GTFO of Germany in the late 30's, I am 100% convinced that we are in the same sort of situation here in Australia (read western world) right now.

    People on this forum whine incessantly about the banks, QE, manipulation, Derivatives, big brother, socialist politicians, yadda yadda yadda, but don't seem to want to make the major change needed to be rid of it?? Asia isn't perfect, but I'm seeing it as a more attractive option to ride out a sh1t storm than Australia would be.

    And for all the preppers here with the southern Cross tattooed on their necks, good luck with 'fighting the system' I spent many years in uniforms of one sort or another, and let me tell you, you won't win! I'll look forward to the reality show with you Muppets hogtied and tasered and on your way to be bubbas bitch. And before some 'kwit babbles on about 'duty' or 'patriotism' or whatever.. forget it, I wore the uniform, I bled, and therefore earned the right tell this country to go to hell.

    So, for me Asia is an option, the Philippines for now, Laos later, who knows, I just know my future isn't in Australia.

    And yes, my $$ buy me a hell of a lot better lifestyle in Asia that they ever will here.

    One of close neighbours advocates going back to the gold standard, as do most here, why wouldn't you want to support that, old (ish) links, but you get the gist, I've got a few of his books, we don't have a single politician that can hold a candle to him. I see this guy as an absolute statesman, and Malaysia as having waaaaay more thought for its citizens long term good health and fortune than Australia ever will

    http://www.soundmoneyproject.org/?p=3320

    http://www.thegoldstandardnow.org/f...un-mahathir-mohamad-back-to-capitalist-basics

    http://www.forbes.com/sites/ralphbe...n-mahathir-mohamad-back-to-capitalist-basics/

    How many times have we hears about this being the "Asian Century'? why wouldn't you want to be a part of that?
     

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