Saturday, 6 July 2013

Philippines Retirement Visa Types

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The government of Philippine has identified the trend of retired people who frequently keep visiting Philippine to enjoy their last days of life. So considering this, the government has came with one very good option of offering retired people an opportunity to visit Philippines with Special Resident Retirees Visa (SRRV). Your age and financial status plays vital role in determining your eligibility for this kind of retirement visa.
Philippines Immigration Consultants - Retirement Visas

Age Requirement
In order to qualify for retiree visa, you don’t have to be an aged person. If you wish to retire very early in life then you can always go for it as minimum age requirement for SRRV is only 35. The SRRV not only allows you to stay in the country for stipulate period of time but you can also study in any of the educational institutions available there.  In rare cases, you can also opt for an employment to fund your retirement holiday.

Visa Deposit Requirement
Visa deposit is nothing but an amount required to deposit by visa applicant in any of the Philippine bank. There are four different visa deposit requirements. You can opt for any of them considering your age and financial capabilities.
  • SRRV Smile: It demands a foreign individual of more than age 35 to make a payment of $20,000 in the designated bank. An individual can’t covert his deposited amount into any sort of investment. However, you are allowed to withdraw amount only if you opt for termination of your visa.
  • SRRV Human Touch: It can be applicable to only those individual who have preexisting medical conditions and who require serious medical attention. An individual has to deposit $10,000 in defined bank, provided he is receiving monthly pension of $1500. Similar to SRRV Smile, an individual can’t convert his deposited amount into any investment.
     
  • SRRV Classic: It requires a foreign individual of age more than 35 to keep bank deposit of $50,000. If you are above 50 years of old and currently earning monthly pension of more than $800 then you are allowed to keep only $20,000. After the lapse of 30 days this amount can be converted to any sort of investment.
     
  • SRRV Courtesy: It is relevant to former citizens of Filipino and diplomats or ambassadors who worked in Philippines. The deposit required for this kind of visa is as low as $1500. Apart from this, an individual can convert his deposited amount into any form of investment.
If you wish to obtain some more information on Philippine Retirement Visa Types then it is better to seek advice from recognized online expert like www.goforvisa.com. Authorized Visa Agents such as ‘Go for Visa’ can definitely provide you proper guidance on tourist as well as business visa to Philippine. In case you have any further doubts, don’t hesitate to get in touch with us at info@goforvisa.com.

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