Immigration to the Philippines, the difference between the classic plan and the smile plan?

In recent years, the Philippines has stood out among many immigrant countries with its unique seascape scenery, high-quality living environment and low cost of living. Many Chinese will hesitate to handle the smile plan and the classic plan when handling the retired immigrants from the Philippines, so what are the differences between the two plans? Please follow EasyGo Easy Travel International to have a look!

​

The similarities between the Philippine classic plan and the smile plan

Both plans are among the plan options in the Philippine Retirement Immigration Program, and their processing requirements are roughly the same.

The first is the age condition, which can only be handled by people over the age of 50.

Then, in order to meet the standards of physical health, the medical examination report of immigrants is required.

Then there is the restriction of personal conduct, which must be able to produce a certificate of no crime in the country.

The difference between the Philippine classic plan and the smile plan

The difference between the Philippine Classic Plan and the Smile Plan lies in the scope of the funds deposited in designated banks in the Philippines and the permitted use of the funds.

The first is the fixed deposit funds required for processing. The fixed deposit funds of the classic plan need 50,000 US dollars. The Smile Project has a fixed deposit of $20,000.

According to the use of fixed deposit funds, the US $50,000 fixed deposit in the classic plan cannot be moved. Once moved, the immigration status will be canceled. The US $20,000 of the Smile Plan deposit can be used to purchase real estate from developers who have cooperation with the government in the Philippines, but cannot be used for other investments.

The above is the specific difference between the Philippine smile plan and the classic plan brought to you by EasyGo Yiyou International. I hope I can provide effective suggestions for your choice and wish you a happy life and all the best!