Overseas Filipinos (OFs), including qualified Overseas Filipino Workers (OFWs) and certain dual citizens, may be eligible for the higher PERA contribution limit of ₱400,000 per calendar year, compared with the standard ₱200,000 annual limit.
To apply for the OF-specific PERA contribution limit, DragonFi may require supporting documents to verify your status and overseas employment or income.
Who Qualifies as an Overseas Filipino for PERA?
Under the PERA rules, an Overseas Filipino is a Filipino citizen who is working or deriving income from abroad. This includes Filipinos who retained or reacquired Philippine citizenship under Republic Act No. 9225 (Citizenship Retention and Reacquisition Act of 2003).
This means that dual citizens may qualify for the OF-specific PERA contribution limit if they meet the applicable requirements.
Your eligibility must still be established through the applicable requirements and supporting documents.
What Documents Do Land-Based OFWs Need to Submit?
For DragonFi's verification process, you must submit one Primary Proof Document and one Contract Proof Document.
Primary Proof Document (Identity & Status)
Submit any one of the following:
OFW Pass
Overseas Employment Certificate (OEC)
OWWA OFW e-Card
Contract Proof Document (Employment Details)
Employment Contract issued or verified by the Department of Migrant Workers (DMW), Philippine Overseas Labor Office (POLO), or applicable Migrant Workers Office (MWO).
DragonFi may request additional supporting documents when necessary to verify your OFW status or overseas employment.
What Documents Do Sea-Based OFWs Need to Submit?
For DragonFi's verification process, you must submit one Primary Proof Document and one Contract Proof Document.
Primary Proof Document (Identity & Status)
Seafarer's Identification and Record Book (SIRB)
Contract Proof Document (Employment Details)
Standard Employment Contract issued or verified by the Department of Migrant Workers (DMW) or applicable government authority.
DragonFi may request additional supporting documents when necessary to verify your OFW status or overseas employment.
What Documents Do Dual Citizens Need to Submit?
If you are a Filipino citizen who retained or reacquired Philippine citizenship under RA 9225, you may qualify for the OF-specific PERA contribution limit if you are working or deriving income from abroad.
For verification, you may be required to submit:
Proof of Philippine Citizenship
Identification Certificate issued by the Bureau of Immigration confirming the retention or reacquisition of Philippine citizenship
Proof of Overseas Employment or Income
An official document showing that you will earn or have earned income from a foreign country during the calendar year of your PERA contribution
DragonFi may request additional supporting documents when necessary to verify your eligibility.
Important: Holding dual citizenship alone does not automatically qualify you for the ₱400,000 OF-specific PERA contribution limit. You must still meet the applicable requirements for an Overseas Filipino.
What If I Don't Have an OEC?
If you are working or deriving income from abroad but do not have an OEC, you may submit an equivalent official document that establishes your overseas employment or foreign-source income, subject to DragonFi's verification requirements.
DragonFi may request additional documentation if the submitted document is insufficient to verify your eligibility.
Continuing OF Status Certification
Before making contributions under the OF-specific PERA limit, you may be required to provide a sworn certification confirming your continuing status as an Overseas Filipino for the calendar year.
DragonFi may request an updated certification or additional supporting documents when necessary.
How Can I Avoid Delays or Rejection When Submitting My Documents?
To help us verify your OF status quickly, make sure your documents meet the following requirements:
Submit the required documents. Provide the appropriate Primary Proof Document and Contract Proof Document based on your OFW status.
Make sure your documents are valid. Do not submit expired or outdated documents.
Submit clear and complete copies. All relevant details, pages, signatures, and document edges must be visible and readable.
Avoid glare or obstruction. If taking a photo, make sure reflections, shadows, or other objects do not cover important information.
Check that your details match. Your name and other identifying information should be consistent across your documents and your DragonFi account.
Make sure your employment information is current. Your documents should sufficiently establish your current overseas employment or income.
Providing complete and readable documents helps prevent delays in the verification process.
What If My Documents Are Rejected?
If your documents cannot be verified, DragonFi may ask you to resubmit the document or provide additional supporting documents.
Your documents may require additional verification if:
The document is expired or invalid
The document is unclear, incomplete, or unreadable
Important information or pages are missing
Your employment or foreign-source income cannot be verified
The information does not match your DragonFi account
The submitted document does not sufficiently establish your OF status
If you receive a request for additional documents, submit the requested or updated documents through the channel indicated by DragonFi.
Tip: Before resubmitting, check that your documents are valid, complete, clear, and consistent with your DragonFi account information to avoid further delays.
Why Do Overseas Filipinos Need to Submit These Documents?
DragonFi verifies your OF status to determine whether you qualify for the OF-specific PERA contribution limit of up to ₱400,000 per calendar year.
Qualified Overseas Filipinos may contribute up to ₱400,000 per year, compared with the standard ₱200,000 annual limit.
The 5% PERA tax credit may reach a maximum of ₱20,000 per year for an Overseas Filipino who makes the maximum qualified contribution of ₱400,000.
Why Do OFWs Need a Philippine Address to Open a PERA Account?
To successfully open a PERA account, OFWs may need to use their Philippine address during onboarding.
If you encounter the error "residing outside the PH" during account creation:
Update your address through Manage Profile in the DragonFi app or web.
Once updated, notify DragonFi Support so the issue can be reviewed and escalated to the appropriate team if necessary.
Important Reminder
The ₱400,000 annual contribution limit is based on your qualification as an Overseas Filipino under the applicable PERA rules. It is not based solely on whether you live abroad or hold a foreign passport.
If you are unsure whether you qualify for the OF-specific PERA contribution limit, submit your available supporting documents and DragonFi will assess them based on the applicable requirements.
Regulatory References
This article is based on applicable PERA laws, regulations, and regulatory guidance, including:
Republic Act No. 9505 – PERA Act of 2008
PERA Implementing Rules and Regulations
BSP Circular No. 1168 – Amendments to the Regulations on Personal Equity and Retirement Account
BSP regulations on PERA minimum documentary requirements
BIR Revenue Regulations No. 7-2023
BIR Revenue Memorandum Circular No. 103-2020
Applicable BSP PERA FAQs and tax-credit guidance