New Special Resident's Retirees Visa (SRRV) Options

New SPECIAL RESIDENT’S RETIREES VISA (SRRV) OPTIONS

REQUIREMENTS	SRRV SMILE	SRRV CLASSIC	SRRV HUMAN TOUCH	SRRV COURTESY

1. Age and Visa Deposit	1. 35 Years Old & Above = $20,000.00 NOTE: Additional Visa deposit - $15,000.00 per dependent in excess of two (2).	1. 35 - 49 Years Old = $50,000.00 2. 50 Years Old & Above: § Without Pension - $20,000.00 § With Pension - $10,000.00 NOTE: Additional Visa deposit - $15,000.00 per dependent in excess of two (2). Show proof of monthly pension remitted to the Philippines ($800.00 for single applicant and $1,000.00 for married couples)*	1. 35 years old & above = $10,000.00 NOTE: Retiree must: § Be shown to have a pre-existing condition (except contagious diseases) and in need of medical care and services. § Show proof of monthly pension remitted to the Philippines equal to at least $1,500.00.	1. 35 Years Old and above for Former Filipino citizens = $1,500.00 2. 50 Years Old and above for Ambassadors / Retired Diplomats = $1,500.00 NOTE: Additional Visa deposit - $15,000.00 per dependent in excess of two (2) except for Former Filipinos.

2. Convertibility of Deposits	1. LOCKED-IN in the bank. § Inconvertible into investment. § Intended for end of term needs and obligations of retiree. § Withdrawable upon cancellation of SRR Visa.	1. May be converted into investments. 2. Total amount of Investment must be at least $50,000.00 for conversion to be allowed. NOTE: For investment in condominium or long-term lease of House and Lot, units must be Ready For Occupancy.	1. Same conditions prescribed under SMILE enrolment program.	1. May be converted into investments. NOTE: For investment in condominium or long-term lease of House and Lot, units must be Ready For Occupancy.

3. Application Fees	1. $1,400.00 for the Principal 2. $300.00 for each Spouse/Dependent NOTE: One-time payment only.	1. $1,400.00 for the Principal 2. $300.00 for each Spouse/Dependent NOTE: One-time payment only.	1. $1,400.00 for the Principal 2. $300.00 for each Spouse or Dependent NOTE: One-time payment only.	1. $1,400.00 for the Principal 2. $300.00 for each Spouse or Dependent NOTE: One-time payment only.

4. Monetary Obligations	1. $360.00 Annual PRA Fee (APF) for Principal, Spouse, and (1) Child upon enrollment and every year thereafter. 2. $100.00 for each dependent in excess of two (2).	$360.00 Annual PRA Fee (APF) for Principal, Spouse, and (1) Child upon enrollment and every year thereafter. $100.00 for each dependent in excess of two (2). NOTE: Previous fees, i.e. Visitorial Fee, Harmonization Fee & Management Fee are deemed waived.	$360.00 Annual PRA Fee (APF) upon enrollment and every year thereafter. NOTE: To cover one (1) dependent only.	1. $10.00 Annual PRA Fee (APF).

5. Depository Bank	1. PRA Designated Banks. Note: § Eventually, Development Bank of the Philippines (DBP) will be the solely depository bank. But there is no advice yet as to when it will take effect. § If a retiree has deposited before May 5, prior to his application, he/she can choose the old scheme.	1. PRA Designated Banks Note: § Eventually, Development Bank of the Philippines (DBP) will be the solely depository bank. But there is no advice yet as to when it will take effect. § If a retiree has deposited before May 5, prior to his application, he/she can choose the old scheme.	1. PRA Designated Banks. Note: § Eventually, Development Bank of the Philippines (DBP) will be the solely depository bank. But there is no advice yet as to when it will take effect. § If a retiree has deposited before May 5, prior to his application, he/she can choose the old scheme.	1. PRA Designated Banks. Note: § Eventually, Development Bank of the Philippines (DBP) will be the solely depository bank. But there is no advice yet as to when it will take effect. § If a retiree has deposited before May 5, prior to his application, he/she can choose the old scheme.

6. Bank Account Name	1. PRA	1. PRA	1. PRA	1. PRA

7. Documentary Requirements	Duly accomplished SRRV Application Form. Original Passport with Valid Entry Visa Medical Examination Clearance Police Clearance and National Bureau of Investigation (NBI) Clearance ID Pictures - twelve (12) pieces of 2"x2" Additional Proof of Relationship for joining SPOUSE / CHILD. NOTE: All documents obtained / issued abroad must have an English translation and duly authenticated by the Philippine Embassy / Consular Office.	Duly accomplished SRRV Application Form. Original Passport with Valid Entry Visa Medical Examination Clearance Police Clearance and National Bureau of Investigation (NBI) Clearance ID Pictures - twelve (12) pieces of 2"x2" Additional Proof of Relationship for joining SPOUSE / CHILD. Pension Documents* NOTE: All documents obtained / issued abroad must have an English translation and duly authenticated by the Philippine Embassy / Consular Office.	Duly accomplished SRRV Application Form. Original Passport with Valid Entry Visa Medical Examination Clearance Police Clearance and National Bureau of Investigation (NBI) Clearance ID Pictures - twelve (12) pieces of 2"x2" Health Insurance Policy Pension Documents Additional Proof of Relationship for joining SPOUSE / CHILD. NOTE: All documents obtained / issued abroad must have an English translation and duly authenticated by the Philippine Embassy / Consular Office.	Duly accomplished SRRV Application Form. Original Passport with Valid Entry Visa Medical Examination Clearance Police Clearance and National Bureau of Investigation (NBI) Clearance ID Pictures - twelve (12) pieces of 2"x2" Additional Proof of Relationship for joining SPOUSE / CHILD. NOTE: All documents obtained / issued abroad must have an English translation and duly authenticated by the Philippine Embassy / Consular Office.

8. Payor	1. Principal Retiree or his Authorized Representative.	1. Principal Retiree or his Authorized Representative.	1. Principal Retiree or his Authorized Representative.