Lancaster Cebu Receives Philippine Retirement Authority Accreditation

Philippines (SANEPR.com) June 9, 2009 -- Beth Collingz, PLC International Sales Director and lead marketing partners for Pacific Concord Properties Lancaster Brand of Condo-Hotels in Manila and Cebu, Philippines said in a letter addressed to Pacific Concord Properties President/CEO Ronald Lim, the Philippine Retirement Authority recently proclaimed “in behalf of our Chairman, Gen. Edgar B. Aglipay we would like to thank you for renewing your accreditation and for having successfully conformed to the PRA standards. We are glad that you continuously support the retirement program of the Philippines to be the best retirement place this side of Asia”.

In the recent years, the Philippines has enjoyed the privilege of being considered as a preferred retirement destination of retirees from all over the world. World-renowned Filipino hospitality, diverse culture, and reasonable standard of living are only a few of the reasons cited by retirees in choosing the Philippines as their new home.

The country's retirement program is managed by the Philippine Retirement Authority (PRA). Its primary role is to promote and grant the Special Resident Retiree Visa (SRRV) to would-be retirees, and to offer a range of services, benefits, and comfort that would make their stay in the Philippines truly worthwhile.

The PRA is mandated to attract foreign nationals and former Filipino citizens to invest, reside and retire in the Philippines with the end-view of accelerating the socio-economic development of the country, contributing to the foreign currency reserve of the economy and by providing them the best quality of life in the most attractive package.

Applicants for a PRA Retirement Visa are required to make an initial USD cash deposit which provides for conversion of the required deposit into active investments in the Country. Inward cash deposit requirements are US$50,000.00 for foreign nationals below 50 and at least 35 years of age. Those aged 50 and above are required to deposit US$20,000.00.

Retirees who qualified to join the PRA Retirement Program have the option to convert their time deposit into active investments after a holding period of thirty (30) days from the date of SRRV issuance. A retiree can choose to invest their required deposit through the following means: a. Purchase, acquisition and ownership of a condominium unit b. Long-term lease of house and lot, condominium or townhouse for a period not shorter than twenty (20) years, and; c. Purchase, acquisition and ownership of golf or country club shares. This means that retirees can apply for their Visa then withdraw their temporary cash deposits to purchase a Condo unit in the Philippines.

Collingz said Lancaster Cebu is an ideal retirement investment for applicants in the PRA program. “Property has always been about location”. Mactan, Cebu, provides one with both the laid back pace of provincial living, as well as prerequisites of the urban dweller. Schools, hospitals, restaurants, shopping malls, and leisure are all found on the island itself and within 5-10 minutes from the condo complex.

Lancaster Cebu Resort Residences located a few minutes from Mactan-Cebu International Airport in Cebu, Philippines is now accepting Reservations for Studio and Two Bedroom Suites adopting International Standard Escrow Trust Account “Buyer Safe” Easy Secure Payment Plans… with up to 5 year "In-House" no prequalification financing available, full condo ownership, no management costs for Condotel Suites and minimum monthly maintenance fees, as buyers or sellers of Real Estate you really should take a moment to look at this Philippine Condotel Investment Opportunity.

Now operational, Lancaster Cebu provides unit owners with premier residential condo units with option of enrolling their units in the Lancaster Condotel Rental Pool. Great Investment for Fil-Am's whom visit Manila for Vacations or Business as they can earn Rental Incomes [at current purchase levels"> of some 8-14% ROI per annum as Owner Non-Residents when not using their units through Condotel Management and reciprocal arrangement with Lancaster Suites Manila. This makes the Lancaster brand of Condo Hotels one of the Hottest Investment Opportunities in the Philippines.

Collingz said the Philippines is a great place to retire for many reasons. First is the people, they may be different from ones you may know back home that have become very western. The Filipino is easy going and generally happy. They tend to smile a lot which makes a great change from the sour faces we are used to seeing around us each day. The pace of life is much slower and the attitude to just about every aspect of life is more relaxed. If you want to really get out of the Rat race then the Philippines is the place.

The PRA Retirement Visa grants applicants the option to reside permanently in the Philippines with multiple entry privileges allowing travel and re-entry to the county anytime. Retiree Visa holders are exempt fro exit clearance and re-entry permits, annual registration requirements of the Bureau of Immigration and may import personal effects and households goods up to US$7,000 tax free.

For more information, specifications and reservations please do not hesitate to contact us:

Beth Collingz- Director
PLC International Marketing Networks

Pacific Concord Properties Inc., Head Office
Shaw Boulevard, Mandaluyong City.
Metro Manila. Philippines
Phone: Manila [632"> 717 1958

Pacific Concord Properties Inc., Cebu Office
Lapu-Lapu City, Mactan.
Cebu. Philippines
Phone: Cebu [6332"> 340 0721

Email: plcmarketing@lancastersuites.com

Web: http://www.lancastersuites.com
Web: http://www.condotel-cebu.com