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Starting May 05, 2011, more SRRV options will be made available for you to choose from on how to Retire in the Philippines through the SRRV Products.

You can choose from the SRRV SMILE, the SRRV CLASSIC, SRRV HUMAN TOUCH, and the SRRV COURTESY.

Please refer to the table below for the requirements and the qualifications for each program.

 

IMPLEMENTING DETAILS OF PRA PRODUCTS

(As of March 03, 2011)

           
REQUIREMENTS SRRV SMILE SRRV CLASSIC SRRV HUMAN TOUCH SRRV COURTESY SRRV ORIGINAL
  For Implementation, effective May 05, 2011  *(Please see footnote)
           
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).
  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.
    2. 50 Years Old and above for Ambassadors / Retired Diplomats

    NOTE: Additional Visa deposit - $15,000.00 per dependent in excess of two (2) except for Former Filipinos.

    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).

    3. Former Filipino  Citizens / Retired Diplomats - $1,500.00

               
    2. Convertibility of Deposits
    1. LOCK-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. Investment must be at least $50,000.00 to allow the conversion.
    NOTE: For investment in condominium or long-term lease of House and Lot, improvement must be Ready For Occupancy.
    1. Same conditions prescribed under SMILE enrolment program.
    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, improvement must be Ready For Occupancy.
               
    3. Application Fees
    1. $1,400.00 for the Principal
    2. $300.00 for each Spouse/Dependent
    1. $1,400.00 for the Principal
    2. $300.00 for each Spouse/Dependent
    1. $1,400.00 for the Principal
    2. $300.00 for each Spouse/Dependent
    1. $1,400.00 for the Principal
    2. $300.00 for each Spouse/Dependent
    1. $1,400.00 for the Principal
    2. $300.00 for each Spouse/Dependent
               
    4. Depository Bank
    1. PRA Designated Banks
    1. PRA Designated Banks
    1. PRA Designated Banks
    1. PRA Designated Banks
    1. PRA Designated Banks
               
    5. Bank Account Name
    1. PRA
    1. PRA
    1. PRA
    1. PRA
    1. PRA
               
    6. Documentary Requirements
    1. Duly accomplished SRRV Application Form.
    2. Original Passport with Valid Entry Visa
    3. Medical Examination Clearance
    4. Police Clearance and National Bureau of Investigation (NBI) Clearance
    5. ID Pictures - twelve (12) pieces of 2"x2"
    6. Additional Proof of Relationship for joining SPOUSE / CHILD.
    Including:
    • Proof of financial capability.
    NOTE: All documents obtained / issued abroad must have an English translation and duly authenticated by the Philippine Embassy / Consular Office.
    1. Duly accomplished SRRV Application Form.
    2. Original Passport with Valid Entry Visa
    3. Medical Examination Clearance
    4. Police Clearance and National Bureau of Investigation (NBI) Clearance
    5. ID Pictures - twelve (12) pieces of 2"x2"
    6. 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.
    1. Duly accomplished SRRV Application Form.
    2. Original Passport with Valid Entry Visa
    3. Medical Examination Clearance
    4. Police Clearance and National Bureau of Investigation (NBI) Clearance
    5. ID Pictures - twelve (12) pieces of 2"x2"
    6. Health Insurance Policy
    7. Pension Documents
    8. Additional Proof of Relationship for joining SPOUSE / CHILD.
    Including:
    • Proof of financial capability.
    NOTE: All documents obtained / issued abroad must have an English translation and duly authenticated by the Philippine Embassy / Consular Office.
    1. Duly accomplished SRRV Application Form.
    2. Original Passport with Valid Entry Visa
    3. Medical Examination Clearance
    4. Police Clearance and National Bureau of Investigation (NBI) Clearance
    5. ID Pictures - twelve (12) pieces of 2"x2"
    6. 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.
    1. Duly accomplished SRRV Application Form.
    2. Original Passport with Valid Entry Visa
    3. Medical Examination Clearance
    4. Police Clearance and National Bureau of Investigation (NBI) Clearance
    5. ID Pictures - twelve (12) pieces of 2"x2"
    6. 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.
               
    7. Monetary Obligation/s
    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).
    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).
    NOTE: Previous fees, i.e. Visitorial Fee, Harmonization Fee & Management Fee are deemed waived.
    1. $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 (AFP) upon migration and every year thereafter for each retiree-member
    1. $10.00 -  PRA ID Renewal (yearly)
    2. $500.00 / $750.00 - Annual Visitorial Fee upon conversion of the requisite deposit only
               
    8. Payor 1. Principal Retiree or his Authorized Representative. 1. Principal Retiree or his Authorized Representative. 1. Principal Retiree or his Authorized Representative.   1. Principal Retiree or his Authorized Representative.
               
    •  
      1. Will be discontinued upon the implementation of the SRRV Smile on May 05, 2011
      2. Those Retirees whose Visa are under the SRRV Original will not be affected by the new programs
      3. Those Retirees whose Visa are under the SRRV Original has the option to TRANSFER to the SRRV Smile
    • *
    *Data :  www.pra.gov.ph
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