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Special Resident Retiree's Visa (SRRV) |
The Philippines is an excellent place for foreign nationals looking forward to retirement. The country is a value-for-money destination boasting of lot of beautiful places with low-cost living and the warm hospitality of its people. The Philippine Retirement Authority administers the Special Resident Retiree’s Visa (SRRV) program. Privileges / Benefits Indefinite stay with multiple-entry/exit privileges Exemption from: Philippine Bureau of Immigration ACR-I Card (Annual Report) Customs duties & taxes for one time importation of household goods & personal effects worth up to US$7,000.00 Tax from pensions & annuities Travel Tax, if retiree has not stayed in the Philippines for more than 1 year from last date of entry Student Visa/Study Permit Access to the Greet & Assist Program at selected Philippine airports Free subscription to the PRA Newsletter Discount privileges from PRA accredited Merchant Partners Free assistance in transacting with other government agencies Entitlement to PHILHEALTH benefits & privileges Eligible SRRV Applicants Principal applicants must be foreign nationals (except those classified as restricted) or former Filipinos who are at least 35 years old, physically healthy and with no derogatory record can join the program. Dependent spouse must be legally married to the Principal Retiree. Children must be legitimate or legally adopted by the Principal Retiree, unmarried and below 21 years old upon joining the program. SRRVisa Options SRRV Smile – For active/healthy retirees who opt to maintain their SRR Visa deposit of US$20,000.00 in any of the PRA-accredited banks. SRRV Classic – For active/healthy retirees, who opt to use their SRR Visa deposit into active investment such as the purchase of condominium unit* or long term lease of house & lot. The SRR Visa deposit is as follows: 50 years old & above: US$ 10,000.00 (with a pension)** 50 years old & above: US$ 20,000.00 (without pension) 35 to 49 years old: US$ 50,000.00 *The value of the property must at least be US$50,000.00 **Required pension of at least US$ 800 for single / US$1,000 for couple SRRV Human Touch – For ailing retirees, 35 years old & above, who need/require medical/clinical care. A monthly pension of at least US$1,500.00, a health insurance policy accepted in the Philippines, and an SRR Visa deposit of US$10,000.00 are required. SRRV Courtesy – For former Filipinos, 35 years old & above. For foreign nationals, 50 years old & above, who are retired officers of International Organizations recognized by the Department of Foreign Affairs (DFA). An SRR Visa deposit of US$1,500.00 is required. SRRV Expanded Courtesy – For foreign nationals, 50 years old & above, who are retired Armed Force officers of foreign countries with existing military ties and/or agreement with the Philippine Government. A monthly pension of at least US$1,000.00 and an SRR Visa deposit of US$1,500.00 are required. The SRR Visa deposit includes the principal applicant and 2 dependents. Additional dependent, entails additional SRR Visa deposit of US$15,000 each (except for former Filipinos). CHILDREN must be legitimate or legally adopted by the Principal Retiree, unmarried and below 21 years old upon joining the program.
Procedure in Filing SRRV Application Step 1: Deposit investment requirements All applicants must open a U.S. dollar time deposit for a term of 6 months at the PRA-Accredited Banks in the Philippines. Applicant may accomplish the PRA Telegraphic Transfer Form when remitting money to the PRA-Accredited Bank. Step 2: Bank sends PRA Certification of Inward Remittance Bank sends to the applicant a copy of the PRA Certification of Inward Remittance. Step 3: Applicant goes to the Consulate General for authentication of documents and applies for a tourist visa Please comply with Requirements for Non-Immigrant Visa 9(a). Step 4: Applicant submits the following documentary requirements to the PRA upon arrival in Manila Original valid Passport with valid /updated Temporary Visitor’s Visa Accomplished PRA Application Form Original valid Medical Clearance Original valid Police Clearance from country of origin, and an additional NBI Clearance, if applicant has stayed in the Philippines for over 30 days from last date of entry Photos (8 pieces, 2″x2″) SRR Visa deposit that is inwardly remitted Fees Principal applicant; US$ 300.00 Dependent applicant Annual Fee of US$360.00 (for the Principal & 2 dependents) Marriage Certificate for joining dependent-spouse Birth Certificate for joining dependent-child. Additional requirements may be requested depending on the SRR Visa Option to be chosen by the SRRV applicant. The Medical and Police Clearances are valid up to 6 months from date of issuance. All documents issued outside of the Philippines must be translated in English, if necessary, and must contain Apostille Certification from the state where the applicant resides. Step 5: If application is approved, PRA endorses an approval to Bureau of Immigration for issuance of SRRV to the applicant. For more information, please visit the website of the Philippine Retirement Authority at www.pra.gov.ph |
