NAIA Garden Residences specifically offers the project for retiree investors. To take advantage of the benefits for retirees, below are the guidelines. The marketing team will assist you during:
- Pre-processing & Evaluation of the application for the conversion of the dollar time deposit into an investment;
- Annotation of the PRA restriction on the title representing the investment with the Register of Deeds;
- Processing and Approval of the investment application within five (5) working days.
Provided below are the checklist provided by the Philippine Retirement Authority if you wish to apply as a retiree investor for condominium units.
- ____ Letter of Intent to convert investment.
- ____ Original of official receipt for the down payment and/or reservation deposit for the unit to be purchased;
- ____ License to Sell condominium units issued by the Housing and Land Use Regulatory Board (HLURB);
- ____ Certification (duly notarized) from the owner-developer of the condominium project on the following;
However, following the general law of corporation and under the Constitution, still the said benefit should not go beyond the 40% limitation for foreign investors. Please contact your agent if the said requirement has been reached for foreign investors.
As per mandate, the additional documents are required:
5. ____Certified true copy (by the Registry of Deeds) of the Condominium Certificate of Title of the unit and parking space, if available;
6. ____ Contract to Sell/Deed of Absolute Sale which must contain the following provision/annotation:
“The herein vendee of the above prescribed property is a participant in the Retirement Program of the Philippine Retirement Authority (PRA), a government corporation created under EO 1037, dated July 4, 1985 with office address at the 29th Floor, Citibank Tower, 8741 Paseo de Roxas, Makati City, Philippines, and as such the Condominium Certificate of Title to be issued in his name shall bear the following annotation.”
7. ____Master Deed with Declaration of Restrictions (certified true copy);
8. ____ Certified true copies (by the SEC) of the Articles of Incorporation, By-Laws and SEC Certificate of Registration of the condominium developer or the condominium corporation (if existing).
9. ____ Undertaking from the developer/seller (notarized) to deliver /transfer the Condominium Certificate of Title with PRA restriction after ninety (90) days from date of full payment, failure to transfer the CCT to the retiree, the seller/developer will have to return all payments made by the retiree.
10. ____ Latest Annual Tax Return of the Developer (1702)
11. ____ Condominium Certificate of Title, which must contain the following annotation:
“ The sale, transfer, or encumbrance of this property is subject to the approval of the Philippine Retirement Authority (PRA), the owner named herein being a holder of a Special Resident Retiree’s Visa (SRRV), and is therefore, subject to the provision of Executive Order No. 1037 and its Implementing Rules and Regulations.”
12 ____ Tax Declaration and real estate tax receipts.
The following documents are required from a prospective retiree, to enroll in the Philippine Retirement Authority Retiree Program to be granted a Special Resident Retiree Visa ( for more inquiries, check the website of PRA – pra.gov.ph):
- Accomplish PRA application form.
- Original passport with valid entry status;
- Medical Examination Clearance – can be secured abroad (with English translation) duly authenticated by the Philippine Embassy/Consular Office. If the applicant is in the Philippines, this can also be secured at the PRA One-Stop Shop.
- Bank Certificate of Dollar Time Deposit inwardly remitted to any PRA accredited banks.
- Police Clearance issued abroad translated into English and duly authenticated by the Philippine/Consulate or National Bureau of Investigation (NBI) Clearance issued in the Philippines. This also applies to spouse and dependents 18 years of age and above (Age requirement of 18 is for purpose of NBI Clearance only.
- Photographs 6 pieces 1”x1” and 6 pieces 2”x2”;
- If the spouse is also applying for SRRV, Marriage Certificate or Marriage Contract translated into English (if necessary) and duly authenticated by the Philippine Embassy/Consulate nearest the applicants residence if the marriage was contra ted abroad. If the marriage was solemnized in the Philippines, original Marriage Certificate; and
- If dependent/s is/are also applying for the SRRV, original Birth Certificate/s of dependents/s born in the Philippines or Birth Certificate/s or Household Register translated into English (if necessary) and duly authenticated by the Philippine Embassy/Consulate nearest the applicants residence abroad.
Worry no more! these documents will be provided by the developer. Please contact your agent for more information.
Initial Forms to be accomplished:
Please complete the form, scan and submit to email@example.com
NAIA Garden Client’s Information Sheet
NAIA Garden Residences Reservation Form
NAIA Garden Payment Sheet
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