Hi all,
I am looking to find out what options I have to become resident in Philippines.
I have visited numerous times and although I haven't set it in stone yet as to where I want to relocate,
it appeals to me to become a resident there for a number of reasons, in the near future. I found this online
and it is up to date as of last year
Special resident retiree's visa:
To obtain a special resident retiree's visa, an individual must satisfy certain age and minimum deposit requirements. The applicant must be at least 35 years old, and the deposit requirement ranges from USD1,500 to USD50,000, depending on the circumstances. Former Filipino citizens must be at least 35 years old and make an inward remittance of USD1,500. Ambassadors of foreign countries who served and retired in the Philippines and current and former staff members of international organizations, including the Asian Development Bank, are also eligible for this program. They must make an inward remittance of USD1,500 and be at least 50 years old.
Coordination with the Philippine Retirement Authority is highly recommended.
My question is how does the minimum deposit requirements from 1500-50,000 get determined.
Obviously it would be great to get it at 1500 instead of 50,000. Also, is this visa the only option available to me?
My country of origin is an accepted country.
Due to the fact that I am youngish, not even 35 yet, does this mean they will want more as a buffer.
Or will it depend somehow on what income I have from sources abroad to establish that I am of means and won't
need to 50,000?
Are there other programs available such as this elsewhere?
I know Malaysia has a similar one but that is more expensive than this, I dont want to have
50k-75K USD tied up where that capital would be more useful for me elsewhere to get a better return.
Thanks