Who qualifies for the Philippines Special Resident Retiree Visa (SRRV)?

The SRRV is a visa that gives qualified applicants over 35 and their families a way to enter and exit the Philippines for their lifetime.  These applicants are required to place a “refundable deposit” or “ Property Investment” to show their commitment to the Philippines.     

The Special Resident Retiree Visa (SRRV) is provided to foreigners and overseas Filipinos by the Bureau of Immigration (BI) of the Philippines under the Philippine Retirement Authority’s (PRA) Retirement Scheme. It entitles the holder to multiple exit and entry privileges with the freedom to live in the Philippines permanently/indefinitely.

The SRRV program is for a special non-immigrant visa that grants multiple entries and indefinite stay privileges to its holders in the Philippines and intended for those wishing to remain in the Philippines on an extended or permanent basis.

Things to know a Getting the SRRV

All foreign nationals and spouses (except for those classified as limited) who are at least 35 years of age may enter the SRRV Program without a derogatory record;

The processing period takes a maximum of 30 days (Please note that there are cases where applicants need to extend their stay, in which case they need to receive NBI permission to extend their stay in the Philippines);

In the event of an emergency, during visa processing, the applicant can leave the Philippines. The documents will be returned to the claimant and can be re-applied for;

The SRRV is good for as long as the retiree remains a member of the program’s good standing, given the Philippines has its dollar time deposit and or other investment;

Option to include dependents in the SRRV program.

For foreign nationals, the Philippines is an excellent location. The nation is a value-for-money destination with low living costs and warm hospitality for its people in many areas.

Required Documents for the SRRV.

• Initial valid Tourist Visa Passport in the Philippines (Tourist Visa supported by the Travel Agency/Tour Operator is NOT permitted);
• PRA Completed Application Form;
• The Medical Clearance Original;
• Initial Clearance of the Police from the country of origin;
• NBI Clearance (if the applicant has stayed more than 30 days in the Philippines from the last date of entry before the SRRV application);
• Photos (12 2″x2″ pieces);
• Evidence of relation for joining dependent 
• If the spouse is joining the applicant
• if the applicant’s marriage certificate or marriage contract has been solemnized in the Philippines
• if the applicant’s marriage certificate has been properly approved by the Philippine Embassy/Consulate nearest to the applicant’s place of residence abroad 
• If the marriage was contracted abroad (should the resident retiree experience an untimely demise under PRA laws, the surviving spouse, who has received the SRRV, has the option of becoming the principal retiree
• the person requesting the visa, using the original principal dollar deposit as his/her qualifying deposit. If he/she decides not to do so, the succession law will apply);
• Birth Certificate of dependents born in the Philippines or Birth Certificate(s) 
• Household Registry is properly authenticated by the Philippine/Consulate nearest to the applicant’s residence abroad if the dependent(s) joins the applicant.
• Documents obtained/issued outside the Philippines must, if necessary, be translated into English and authenticated by the embassy/consulate of the Philippines.

SRRV Official Application 

Required Deposit For Applicants – With A Monthly Pension

For applicants 50 years old and above – They are required to have a time deposit of US$10,000 plus a monthly pension of US$800 or more for a single applicant and US$1,000 for a couple.

Required Deposit For Applicants – Without A Pension.

For applicants 35 to 49 years old; –  US$50,000.00, bank deposit.

For applicants 50 years old and above; –  US$20,000.00, bank deposit.

Former Filipino Residents (minimum age 35, irrespective of the number of dependents – US$1,500.00)

US$1,500.00 Ambassadors of Foreign Countries working and retired in the Philippines, present and former staff members of international organizations like ADB (minimum age 50)

A resident retiree may bring with them without additional deposit, two(2) children (if they are unmarried and under 21 years of age) with his spouse and child who is unmarried and under 21 years of age or if the spouse does not join. Additional children with the same requirements may also be permitted to join the principal SRRV holder, provided there is another deposit of US$15,000.00 per child. However, the deposit is subject to the same terms and conditions as the principal deposit.

Fees/Additional Costs for the SRRV.

Application fee: USD 1,400 per principal applicant and USD 300 per dependent 

Annual fee: USD 360 (covering 3 members of the family), for USD 100 extra.

An additional visa deposit of USD 15,000 per person with more than two dependents

Agent fee: USD 20,000

Benefits Of Srrv

• Permanent non-immigrant status via the Special Resident Retiree’s Visa with multiple-entry rights;
• No criteria exist for the number of days or the number of entries to be spent in the Philippines.
• Exemption for the importation of personal effects from customs duties and taxes;
• Exemption from permits for exit clearance and re-entry;
• Exemption from payment of travel tax, providing that the holder of the SRRV has not stayed more than one year in the Philippines.
• Conversion into an active investment of the required deposit, including the purchase of a condominium unit;
• Foreign currency deposit interest is tax-free, payable in Philippine pesos;
• In the Philippines, only the income earned is taxable in the country;
• A visa holder can receive from the Philippines a tax resident certificate;
• Pension, tax-free annuities payable to the Philippines; and
• Guaranteed repatriation of the deposit conditions, including the income, invested, capital gains, and investment dividends accrued.

Can SRRV Holders Own Real Property In the Philippines?

Yes, a maximum area of 5,000 square meters of urban land and three (3) hectares of agricultural land can be owned/acquired by natural-born former Filipinos whose SRRV has been given.

Moreover, an alien who is legally married to a citizen of the Philippines can build a residential unit on a section of land owned and/or registered in the name of the spouse of the Philippines.

In the Philippines, a foreigner may legally own condominium units to be used as a home or for rental income.

~Staff

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• srrv requirements, 
• Srrv visa, Advice.