The Philippines' Special Resident Retiree's Visa (SRRV) program offers several options to cater to different financial situations and age groups. The deposit requirements and specific benefits vary depending on the plan selected.
**Different SRRV Options:**
* **SRRV Classic:** This is a popular option for retirees aged 50 and above, or those aged 35-49 with a higher deposit. It requires a significant upfront deposit (the amount varies depending on age and whether the applicant receives a pension). After a waiting period (typically 30 days after SRRV issuance), the deposit can be used for approved investments such as purchasing a condominium unit or a long-term lease of a house and lot.
* **SRRV Smile:** This plan is designed for active retirees aged 35 and above. It requires a lower deposit than the Classic plan (typically $20,000 USD) which must be maintained in a designated Philippine bank account for as long as the SRRV is held. This deposit is not typically convertible into an investment.
* **SRRV Human Touch:** This option is specifically for retirees requiring ongoing medical care. It offers a more streamlined application process and may have adjusted requirements to accommodate the applicant's health needs. The specific deposit requirements would need to be confirmed with the Philippine Retirement Authority (PRA).
* **SRRV Courtesy:** This is for former Filipino citizens and certain foreign nationals (e.g., retired diplomats). It usually has a lower deposit requirement than the other options.
**Required Documents (General):**
The exact documents needed can vary slightly depending on the chosen plan and individual circumstances. However, generally, expect to provide:
* A completed application form.
* A valid passport with at least 18 months validity remaining.
* Proof of age (birth certificate).
* Police clearance certificate from your country of origin.
* Medical examination results.
* Proof of financial capacity (bank statements, pension statements, etc.). This is crucial and the specific requirements will be detailed in the application instructions for your chosen plan.
* Photos.
**Required Bank Deposit:**
The required bank deposit varies significantly depending on the chosen SRRV plan and the applicant's age. For example:
* **SRRV Classic:** The deposit can range from $10,000 USD to $50,000 USD or more, depending on the applicant's age and pension status. Those aged 50 and above with a pension may have a lower deposit requirement.
* **SRRV Smile:** Typically requires a $20,000 USD deposit.
* **SRRV Courtesy and Human Touch:** Have varying deposit requirements; it's best to check with the PRA for the most up-to-date information.
It is crucial to check the official Philippine Retirement Authority (PRA) website and contact them directly for the most current and accurate information on requirements and fees. The requirements and fees can change, so relying on outdated information could lead to delays or rejection of your application.
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