What are the restrictions on the process of handling retired immigrants in the Philippines

Retired immigrants in the Philippines are one of the two popular immigration methods. Because of their unique environmental characteristics, they are one of the top ten best retirement destinations on the Forbes list. At the same time, the cost of living in the Philippines is relatively low. Therefore, many people choose to enter the Philippines as retired immigrants and obtain the right to live permanently in the Philippines.

The policy of Philippine retired immigrants is divided into two situations

The first name is the traditional plan. The main content is that applicants aged 35 to 49 need to deposit US $50,000 in the designated Philippine Development Bank. Applicants aged 50 and above have a deposit of US $20 million in the designated Philippine Development Bank. If the applicant needs to bring a spouse and children, or if he does not bring a spouse and two unmarried children under the age of 21, then there is no need to increase the amount of the deposit. If you want to add an unmarried child under the age of 21 on this basis, you need to increase your investment by $15,000 per person. And children must carry birth certificates and double certificates.

The second name is Smile Plan, which refers to applicants aged 35 and above who need to place a fixed deposit of US $20,000 in a development bank established in the Philippines. If the applicant only brings a spouse and an unmarried child under the age of 21, there is no need to increase the deposit amount. If an unmarried child under the age of 21 is added to this basis, the deposit amount of 15,000 yuan per person is required. Basically, the following clauses are consistent with the traditional plan.

Deposits are not allowed to be withdrawn after they are placed in a fixed bank. If they are withdrawn, they will automatically give up the visa for retired immigrants.

The process of handling retired immigrants

The applicant applies, gets the application form from the Immigration Bureau, submits the relevant information according to the above contents, and remits the money to the designated account provided by the Philippine Retirement Agency, and then waits for examination. Under normal circumstances, it takes three weeks for the immigrant visa to be processed, and the applicant must stay in the Philippines during this period and cannot leave the Philippines.

That's all about retired immigrants in the Philippines. If you have any questions, you can choose to consult the customer service website. They will bring you more professional answers and services.