|
|
|
|
|
| SRRV OPTIONS |
SRRV SMILE
For Active / Healthy Retirees |
SRRV CLASSIC
For Active / Healthy Retirees |
SRRV COURTESY / EXPANDED COURTESY
For Former Filipinos / Diplomats |
SRRV HUMAN TOUCH
For Ailing Retirees |
|
|
|
|
|
| Qualified Nationality |
Any foreign national or alien who is not included in the Excluded Classes under Section 29 of the Immigration Act of 1940. |
|
|
|
|
|
| Age Qualification & Visa Deposits |
35 Years Old & Above = US$20,000.00 |
35 to 49 Years Old = US$20,000.00
50 years old and Above:
A. With Pension = US$10,000.00
B. Without Pension = US$20,000.00 |
Former Filipinos:
35 Years old & Above = US$1,500.00
Foreign Nationals:
50 Years old & Above = US$1,500.00 |
35 Years old & Above = US$10,000.00 |
|
|
|
|
|
| Dependents |
Principal may be joined by dependents (spouse and children)
Spouse – should be of legal age and the legitimate spouse of the Principal applicant.
Child – legitimate or legally adopted child by the Principal, who must be unmarried and below 21 years old.
The visa deposits are for the principal retiree and 2 dependents. An additional visa deposit of US$15,000.00 is needed for each additional dependent, in excess of two. The additional visa deposit is waived for Former Filipino citizens. |
Principal may be joined by only one dependent, either by the spouse or by the child. |
|
|
|
|
|
| PRA Designated / Accredited Bank(s) |
Development Bank of the Philippines (DBP)
Allied Bank, Philippine National Bank (PNB), Banco de Oro (Pacific Star Branch Only),
Bank of China, Korea Exchange Bank, Tong Yang Bank, Unionbank. |
|
|
|
|
|
| Convertibility of Deposits |
* Must be maintained with the PRA Designated/Accredited Bank and may only be withdrawn upon cancellation of the SRRV or to satisfy end of terms needs or catastrophic obligations. |
* May be used for investment/s in RFO Real Estate Properties;
* Investment value must be at least US$50,000.00 |
* May be used for investment/s in RFO Real Estate Properties;
* Investment value must be at least US$50,000.00 |
* Must be maintained with the PRA Designated/Accredited Bank and may only be withdrawn upon cancellation of the SRRV or to satisfy end of terms needs or catastrophic obligations. |
|
|
|
|
|
| Documentary Requirements |
* Original of the valid Passport with valid/updated tourist visa in the Philippines (Tourist Visa sponsored by Travel Agency/Tour Operator is NOT allowed);
* Accomplished PRA Application Form;
* Original of the Medical Clearance;
* Original of the Police Clearance from country of origin;
* NBI Clearance (if applicant has stayed in the Philippines for more than 30 days from last date of entry prior to application of SRRV);
* Photos (12 pieces of 2″x2″);
* Proof of Relationship for joining dependents.
Documents obtained/issued outside of the Philippines must be translated into English, if necessary, and authenticated by the Philippine Embassy/Consulate. |
|
|
|
|
|
| Additional Documentary Requirements |
|
SRRV Classic with Pension
* Certficate of Retirement Benefits, equivalent to at least US$800/month (single applicant) or US$1,000/month (couple).
NOTE: Documents obtained / issued outside of the Philippines must be translated into English, if necessary, and authenticated by the Philippine Embassy / Consulate. |
Former Filipinos
* NSO Birth Certificate or Old Philippine Passport
SRRV Courtesy
* Certificate of Employment stating position and duration of employment
SRRV Expanded Courtesy
* Certificate by the concerned agency/organization pertaining his/her achievement
* Proof of monthly pension or any other similar benefits of at least US$1,000.00
NOTE: Documents obtained / issued outside of the Philippines must be translated into English, if necessary, and authenticated by the Philippine Embassy / Consulate. |
* Medical Certificate showing pre-existing medical condition;
* Certificate of Retirement Benefits, equivalent to at least US$1,500; and
* Health Insurance Policy acceptable in the Philippines.
NOTE: Documents obtained / issued outside of the Philippines must be translated into English, if necessary, and authenticated by the Philippine Embassy / Consulate. |
|
|
| Fees to be Paid upon Joining the Program |
Application Fee
Principal Applicants US$1,400
Dependent US$ 300 (each)
Annual Fee (PAF) US$ 360 (covers 3 family members)
* For more than 3 retiree members in a family, an additional PAF of US$100.00 for each additional dependent must be paid.
* Under the SRRV Courtesy/Expanded Courtesy, the PRA Annual Fee of US$360.00 is not applicable. However, in case of more than two dependents, US$10.00 for each dependent must be paid for the issuance of the PRA ID Card. |
|
|
|
Obligations of a Retiree Member |
* To update the Authority of any changes in contact information (e.g. status name, address, telephone/fax number and email address);
* To secure an Alien Employment Permit (AEP) from the Department of Labor and Employment for purpose of employment in the Philippines;
* To renew the PRA ID Card and pay the PRA Annual Fee of US$360.00. For PRA Members under the SRRV Courtesy pay the Annual Fee of US$10.00 for each retiree member in the family. |
