Retire in the Philippines With the SSRV Visa
Would you like to retire in the Philippines? Now you can, thanks to the Special Resident Retiree’s Visa (SRRV).
The SRRV is a special, non-immigrant resident’s visa which allows the holders to enter the Philippines multiple times, and stay indefinitely in the country. The holders of the SRRV also get to enjoy tax-free incentives along with other privileges, which include value-added services and benefits that they can obtain from the Philippine Retirement Authority (PRA)s partner establishments. These establishments include resorts, hotels, restaurants and retirement facilities.
SRRV Options Available
The Philippine Retirement Authority introduced different SRRV options on 5 May 2011. These options are available to former Filipinos and foreign retirees who are keen on making the Philippines the destination where they retire. The available SRRV options include the following:
- SRRV SMILE – For principle retirees who are 35-years and above, active and healthy. They must be willing to maintain their visa deposit of US$20,000 in a PRA designation while they hold the visa.
- SRRV Classic – For principle retirees opting to use their visa deposit of US$10,000 (with pension) or US$20,000 (without pension) for those aged 50-years and above, and principle retirees aged 35 to 49-years (US$50,000) to purchase long-term lease houses or condo units.
- SRRV Human Touch – Applicable for retirees who are ailing, aged 35-years and above and those with medical or clinical needs and services.
- SRRV Courtesy – For former Filipinos aged 35-years and above, foreign nationals aged 50-years and above and those who have served in the Philippines as diplomats, ambassadors, officers and staff of international organizations.
- SRRV Expanded Courtesy – For foreign nationals aged 50-years and above receiving a monthly pension of at least US$1,000 qualified under PRA circular No. 12 series of 2013.
SRRV Visa Benefits
Frequent business travellers will enjoy this “lifestyle” visa with all the benefits and privileges of having a visa that is hassle-free in the Philippines. The SRRV also works as a retirement visa for those who require special care for certain special needs that they may have.
The SRRV affords many benefits to its holders, including:
- The option to live permanently as long as they want in the Philippines
- Multiple-entry into the country at any time
- Exemption from securing the exit & re-entry clearances from the Bureau of Immigration
- No travel taxes imposed
- Exemption from student’s visa or study permits
- Exemption from the Bureau of Immigration ACRI-Card
- Work eligibility, once your Alien Employment Permit (AEP) is issued
- Start your own business
- Free assistance securing documents from other government agencies, including:
- Clearance from the National Bureau of Investigation (NBI)
- Drivers License (Land Transport Office)
- AEP from the Department of Labor and Employment Tax
- Exemption/Extension Certificate from the Department of Finance
Tax Identification Number (TIN) from the Bureau of Internal Revenue
- Allows you to bring two dependents
- Accessible quality education and care for your children
- Build your own home
- Tax-free importation of your household items and personal effects
SRRV Eligibility
To apply for the SRRV visa, you would need to meet the following eligibility criteria:
- Be a foreign national who is not included in the Excluded Classes under Section 29 of the Immigration Act 1940.
- Be 35-years or 50-years and above as the principle applicant
- Dependants should be a spouse of legal age, and a child below 21-years of age.
The principle applicant must provide the following documentation:
- Duly accomplished Philippine Retirement Authority Application Form
- Original passport with valid entry status
- Medical examination clearance
- Valid police clearance
- National Bureau of Investigation (NBI) clearance
- 12 pieces of 2×2 pictures
- Bank certification of dollar time deposit (inward remittance to PRA Accredited Banks)
- Required processing fees
- Annual fee of US$360 (for the principle applicant and 2 dependents)
The spouse of the principle applicant must provide the following documents:
- Duly accomplished Philippine Retirement Authority Application Form
- Original passport with valid entry status
- Medical examination clearance
- National Bureau of Investigation (NBI) clearance
- Police clearance
- Marriage certificate
- Applicable fees
- 12 copies of 2×2 pictures
Dependents must provide the following documentation:
- Duly accomplished Philippine Retirement Authority Application Form
- Original passport with valid entry status
- Medical examination clearance
- National Bureau of Investigation (NBI) clearance
- Police clearance
- 12 copies of 2×2 pictures
- Birth certificate
- Applicable fees
Kindly note that all documents which are not in English must be accompanied by an English translation. The translation must be authenticated by the Philippine Embassy or Philippine Honorary Consulate. Documents which have been issued abroad by a foreign authority must be authenticated by the Philippine Embassy or Philippine Honorary Consulate.
Contact Smart Account Solution for business opportunities in Philippines and retirement visa in Philippines:
Liberty Abid Ali, CPA
SMART ACCOUNT SOLUTION CO. LTD.
6 A&C Trans-Phil House | 1177 Chino Roces Ave. cor. Bagtikan St.| Makati City
(632)-5538177 | (632)-2962986
www.sas-ph.com|info@sas-ph.com
