Thailand pension visa vs Philippines pension visa comparison, which cost is lower?

In recent years, low-cost "immigrant pension" in Southeast Asia has been welcomed by Chinese people. Especially in Thailand and the Philippines, the cost of living is low, the scenery is beautiful, and the Chinese gather. Many people have no choice between these two countries. Today, EasyGo Yiyou International will make a comparison from the perspective of money to see which of the two countries has lower pension visa cost and more friendly threshold?

 

Philippine pension visa

The Philippine pension visa is called "Special Resident Retiree's Visa" special retirement immigrant visa, referred to as SRRV visa, which is a green card for permanent residence and can be applied for by people over 50 years old. There are two main application methods for SRRV:

1. Smile Plan-Fixed Deposit of 20,000 US Dollars, Deposit in Identity

The applicant will remit US $20,000 to the bank designated by the Philippine Retirement Agency for deposit, which cannot be withdrawn and will be refunded in full when the visa is canceled.

In addition, if the applicant meets the monthly fixed income pension of US $800 for a single person or US $1000 for a couple, he can only deposit US $10,000.

2. Classic plan-deposit 50,000 US dollars. After the card is completed, the deposit can be taken out for investment in real estate.

One month after the applicant receives the SRRV card, the deposit of US $50,000 can be converted into a real estate project, and the contract amount of the real estate project must meet more than US $50,000.

The above two application methods do not need to provide asset or financial certificates, and the investment amount is calculated according to a family of less than 3 (1 main applicant and 2 affiliated applicants). For each additional person beyond 3, an additional deposit of US $15,000 will be added.

Thailand Pension Sign

Thailand's pension visa is called "Non-Immigrant OA-long Stay Visa" non-immigrant long-stay leisure visa, or OA visa for short. It is not a permanent residence green card, but a one-year long-term visa, but it can be renewed indefinitely and long-stay in Thailand. Thailand OA visa is the same as Philippine SRRV visa, which can be applied for by people over 50 years old.

Application requirements:

Open an account with a local bank in Thailand and deposit 800,000 Thai baht (about US $24,000), or at least 65,000 Thai baht (about US $1900) of pension income certificate per month. After the card is completed, 800,000 Thai baht can be taken out without freezing.

In addition, two materials related to money need to be provided when applying:

1. Financial certificate: deposit certificate of not less than 180,000 RMB and frozen for one year or more, or income certificate of not less than 18,000 RMB per month;

2. Medical insurance valid for 12 months: the amount of outpatient compensation shall not be less than 10,000 RMB and the hospitalization compensation shall not be less than 100,000 RMB, and medical insurance of 6000-30,000 RMB shall be paid every year.

Unlike the Philippine SRRV, the Thai pension visa must be applied on an individual basis without the concept of an affiliated applicant.

Summary:

In terms of investment, the Philippine pension visa occupies a smaller amount of funds than the Thai pension visa, and there is no need for insurance.

Moreover, the applicant for Thailand's pension visa is an individual and SRRV is a family. If you want to go to Thailand with your family, you need both parties to be over 50 years old and everyone to go through the same procedures. If you go to the Philippines, you can directly obtain SRRV as a subsidiary applicant.

So in general, the Philippines is undoubtedly more friendly in terms of pension visa costs and thresholds.