RETIREMENT VISA IN THE PHILIPPINES (SRRV)

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RETIREMENT VISA IN THE PHILIPPINES (SRRV)

The time of retirement has arrived and you would like to enjoy it in the country of 7,000 islands, however what are the visa options offered to you?

For those who have a Filipino husband/wife, who has the Filipino Nationality, no problem, the 13A Visa is fairly easy to get.
If your Filipino husband/wife has changed his nationality to yours through marriage or else , then the 13G Visa offers the same benefits.

Now for those who are married and want to continue their journey with their partner, but who is not Filipino or Filipina, the Philippines Government has created a visa that simplifies the life of foreign retirees.

It is possible to stay on a tourist visa, but it is restrictive, relatively expensive and does not bring all the advantages of the the SRRV: “Special Resident Retiree's Visa”.

Program:

Pursuant to Presidential Order No. 1037 (also known as PRA Charters), the Philippine Retirement Authority is mandated to make available a set of benefits (a package) for potential foreign pensioners who would like to retire in the country.

It is in this spirit that the PRA has been designated to give these foreign retirees an environment that is as favorable as possible.

Eligibility:

Former Filipino nationals and foreigners, except those prohibited by the Ministry of Foreign Affairs or the Immigration Office are eligible for an SRR Visa application, under the following conditions:

  • Being 35 years old or older,
  • Do not have a criminal record,
  • Have the standard of the medical examination,
  • Have the capacity of the requested investment (Time Deposit).

Advantages:

Once your SRRV is obtained, it opens the door for a number of benefits, such as:

  • The opportunity to stay permanently, you can live, work and study in the Philippines.
  • The ability to enter and exit the territory without limitation, the Multiple Entry Privilege.

You are exempt from:

  • Tax and tax on your pension and annuities,
  • Exit and Entry Permit from the Immigration Office,
  • Annual registration with the Immigration Office,
  • Payment of customs duties and taxes on the importation of your personal effects, up to a limit of US $ 7,000,
  • Travel tax (airport tax), if your departure from the territory is within a period of less than one year after your last date of entry,
  • I-Card.

Options and obligations:

Depending on your age and situation, whether you are a pensioner or not, there are several options available to you to apply for your SRR Visa.

Money Time Deposit: In all cases you will be asked for a form of security deposit that will be blocked for a longer or shorter period. However, the sum thus temporarily blocked produces interest that will be definitively acquired.

- First case, you are a pensioner and you are over 50 years old.

You will be required to block US $ 10,000 and to have a monthly pension of

  • US $ 800 or more if you are single and
  • US $ 1,000 or more if you are in a relationship.

- Second case you are not pensioner or not yet pensioner.

You are between 35 and 49 years old, the amount of your Time Deposit will be US $ 50,000.

If you are 50 or over 50, the amount of your Time Deposit will be US $ 20,000.

It is possible to bring your husband/wife and children under 21 years not married.

The time deposit must be deposited in one of the banks accredited by telegraphic transfers.

After a period, usually 6 months, there is the possibility of using the Time Deposit, for example for the purchase of real estate or the creation of a company.

 

The SRRV is a big step forward in the Philippines promotional tourism policy, flexible and demanding only small amounts of resources, the formula should attract more retirees or future retirees.

 

Contact us now for more information:

+63 2 810 4977

inquiry@asiarelocation.com.ph

www.AsiaRelocation.com.ph

 

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We will go to great lengths to ensure the highest quality moving experience is afforded to you and your family at all times. Every move is treated as a unique operation by our experienced team of expert movers.

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Asia Relocation
Office: #116B, MCS Tower, Makati Cinema Square, Makati City, Philippines
Warehouse:  #401, Bormaheco Compound, Cervantes Street, Paranaque, Philippines

 +63 2 810 4977

 +63 917 538 5607

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