Qualified Persons
- Early retirees including military personnel, scientists, artists, sports and movie personalities, corporate personnel.
- Legitimate spouse of the principal retiree.
- Dependent unmarried children under 21 years.
- Existing SRRV holders may transfer to SMILE subject to maintaining deposit, paying fees, and subject to a monthly migration quota.
Procedural and Documentary Requirements
- Principal retiree must submit passport copy with valid visa, application form, police and NBI clearances, medical certificate, bank certification of deposit, and pay application and annual fees.
- Spouses and dependents must submit application form, clearances (except children under 18), medical clearance, proof of relationship, bank certification (for additional dependents), plus a $300 one-time fee.
- Adult dependent children who reach 35 must apply independently or face cancellation of their SRRV.
Terms and Conditions
- Applies to new enrollees and migrants from existing programs.
- Annual fee payment is mandatory to maintain SRRV status.
- Visa deposits are non-investable and can only be withdrawn upon visa cancellation or for end-of-term obligations.
- Deposits are protected from creditors and subject to Philippine succession laws upon death.
- PRA issues identification cards upon payment of annual fees, usable for legal identity, discounts, and memberships.
- Non-payment of annual fees after notice can lead to visa revocation and inclusion in immigration watchlist.
Other Provisions
- Separability clause ensures that invalid provisions do not affect others.
- IRR takes effect 15 days after filing with the Office of the National Administrative Register (ONAR).