Philippine government:? Retirement industry? Become a top industry
The Philippine government and developers hope to develop the business of retirees into a top industry. The arrival of these retirees is only the beginning.
The Philippine Retirement Administration said that its task is to attract elderly foreign immigrants, and it plans to expand the number to 6,543,800+in the next five years. This figure accounts for about 1% of the total population of the Philippines.
The retirees who have settled in the Philippines mainly come from Chinese mainland, Japan, South Korea and Taiwan Province Province, which are countries and regions that have established strong trade and tourism ties with the Philippines.
For 30 years, the Philippines has been trying to attract foreign retirees, but the effect is not good. Although the country is sunny and the prices are low, many people balk at the unstable situation and poverty.
However, the official said that many factors have begun to exert their strength to refuel the project. The Philippine government has greatly reduced the cost of settling in the country. For example, the minimum deposit for retirees in local banks has been reduced from $75,000 to $20,000, and the minimum age requirement for foreign citizens is set at 35.
Detailed explanation of Philippine retirement immigration project
The Philippine Retirement Immigration Project (SRRV) aims to attract foreigners to settle in the Philippines and promote economic development. It is an immigration policy issued by the Philippine retirement agency. The applicant's family of three can easily obtain a permanent green card by depositing a small amount of money in the bank designated by the Philippine retirement institution, and can freely enter and leave the Philippines, go to school, work, live and receive medical treatment, and treat the local residents equally. The cycle is fast and it can be sent in 4-6 weeks.
The SRRV Smile Project was launched on 20 1 1, with much looser conditions than the classic SRRV project launched in 2008. Let's compare:
Application conditions for SRRV classic projects (2008):
● The principal applicant aged 35-49 will deposit $50,000 in the Philippine retirement institution account of the Philippine Development Bank;
● Major applicants aged 50 and above; Deposit US$ 20,000 in the account of Philippine retirement institution in Philippine Development Bank; (If buying a house by investment, the investment amount must be increased to 50,000 USD);
● No criminal record.
Application conditions for SRRV Smile Project (20 1 1 year):
● Principal applicants aged 35 and above will deposit $20,000 in the Philippine retirement institution account of the Philippine Development Bank;
● No criminal record.
? Simple? Immigration project
Why do you say that? Simple? Compared with the immigration projects in mainstream countries, the retirement immigration projects in the Philippines are relatively simple to handle:
1. Less investment: Filipino retired immigrants, a family of three only need to invest 50,000 US dollars. If they choose the smile project, they only need to save 20,000 US dollars, which is enough for our rich people in China now.
2. Fast processing cycle: Generally speaking, it only takes 6-8 weeks from the beginning of preparing materials to submitting materials to obtaining identity. No scheduling, no lottery, no help, you can get your identity quickly in one step.
3. The application conditions are very simple: there are no requirements for the applicant's education, business management and explanation of the source of funds, and the most important thing is that there is no immigration supervision.