Nature-based solutions (NbS) are strategies that utilize nature to address various environmental and societal challenges while simultaneously benefiting human-ecological systems. They are cost-effective and scalable approaches that have the potential to address climate change, support biodiversity, and contribute to achieving the Sustainable Development Goals (SDGs). Despite these benefits, several factors challenge their widespread implementation, particularly in developing countries. This study aims to determine the essential elements needed to implement the NbS initiatives successfully in rural communities. Taking the case of Victoria, Laguna, this research conducted Key Informant Interviews with local stakeholders and policymakers and applied thematic and multicriteria analyses to evaluate their readiness, factors to be considered, and strategies for the successful implementation of NbS initiatives in the municipality. Results revealed that the locals have limited knowledge of NbS and utilizing NbS initiatives stood as a secondary priority, compared to more preferred gray infrastructure/hard engineering projects. The financing, enforcement, and knowledge components determined the readiness of Victoria for its NbS initiatives. In terms of the factors for the successful implementation of NbS initiatives, the most prevalent themes were the criteria for an inclusive, transparent, and empowering governance process, net gain to biodiversity and ecosystem integrity, and design informed by scale. Furthermore, the NbS initiatives in Victoria were observed to adhere to the IUCN Global Standard, with biodiversity net gain and economic feasibility as their strongest areas. In terms of strategies, local stakeholders placed substantial importance on its sustainability and mainstreaming in appropriate contexts, as well as on evidence-based adaptive management. Findings provided recommendations focusing on creating an NbS assessment mechanism, strengthening the existing NbS governance structure, information and education campaigns, and formulating proposals that utilize NbS to address other issues faced in the municipality, such as flooding and climate change.