The Philippines may be the perfect destination for foreigners passionate about retirement in the tropics. The country offers many benefits for foreigners who wish to spend their golden years in a lush tropical paradise. The SSRV or Special Resident Retiree’s Visa in the Philippines provides an attractive opportunity for foreign retirees to embrace an enriching and fulfilling lifestyle. In this article, we will provide you with a comprehensive guide on the retirement visa in the Philippines.
What is the special retirement visa in the Philippines?
The Special Resident Retiree’s Visa (SRRV) is a retirement visa in the Philippines that allows foreigners to live, retire, and invest in the country. This Philippine visa is designed to attract foreign retirees who wish to enjoy their retirement in the Philippines while contributing to the local economy. The resident visa in the Philippines provides long-term residency options with multiple benefits and privileges for retirees.
How long can you stay in the Philippines with a retirement visa?
With a retirement visa in the Philippines, such as the SRRV (Special Resident Retiree’s Visa), holders can enjoy long-term residency without the need to secure stay extensions from the Bureau of Immigration. Retirees with an SRRV are granted long-term permission to reside in the Philippines.
Who can apply for a Philippine retirement visa?
To qualify for a retirement visa in the Philippines under the SRRV program, applicants must meet the following criteria:
- Age requirement: Applicants must be at least 35 years old and make a deposit of at least $50,000 or be at least 50 years old and have a pension.
- Clean record: Applicants must have no criminal record.
- Financial capability: Applicants must be able to support themselves and any family members joining them financially.
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What are the benefits of the special retirement visa in the Philippines?
The Special Resident Retiree’s Visa (SRRV) in the Philippines offers numerous benefits to retirees. One of the benefits of the Philippine SRRV visa is that you can enjoy an indefinite stay and have the flexibility to enter and exit the country at your convenience. Foreigners are also exempt from filing the annual report at the Philippine Bureau of Immigration, simplifying the administrative process. Importing household goods and personal effects worth up to $7,000 is also tax-free for resident visa holders. Additionally, if you have dependent children, they can study in the Philippines without needing a separate student visa or study permit.
Foreigners with a special retirement visa in the Philippines can access the Greet & Assist program at selected Philippine airports, assisting upon arrival and departure. Exclusive discounts and privileges offered by PRA-accredited Merchant Partners are available for retirement visa holders. The PRA also provides free assistance in transacting with other government agencies, ensuring a smoother retirement process. Lastly, foreigners with a retirement visa in the Philippines are entitled to PHILHEALTH benefits and privileges, granting access to healthcare services in the country.
SRRV visa requirements
The applicant must meet specific requirements to apply for a retirement visa in the Philippines. The following is the list of SRRV requirements:
- Original and valid passport: Ensure your passport is updated with an active Temporary Visitor’s Visa.
- Completed PRA Application Form: Fill out the SRRV application form provided by the Philippine Retirement Authority (PRA).
- Original and valid medical clearance: Obtain a medical certificate from a licensed physician stating that you are in good health.
- Original and valid clean criminal records: Provide a police clearance certificate from your home country and an additional NBI clearance if you have stayed in the Philippines for over 30 days.
- Eight photographs: Prepare eight recent passport-sized photographs in the 2-inch by 2-inch format.
- Inwardly remitted SRRV visa deposit: Make the required visa deposit through an authorized bank in the Philippines.
- Proof of paid fee: Present evidence of payment for the SRRV visa application fee.
- Marriage certificate: If applicable, submit a copy of your marriage certificate for an accompanying dependent spouse.
- Birth certificate: If applicable, provide a copy of the birth certificate for an accompanying dependent child.
How to get a retirement visa in the Philippines?
Retirees in the Philippines must register for the SRRV Retirement Program to receive a retirement visa. Here are the steps in applying for a retirement visa in the Philippines:
Step 1: Book an appointment with the PRA
To obtain a retirement visa in the Philippines, you must book an appointment with the Philippine Retirement Authority (PRA). It’s important to note that the PRA allows only one person per appointment. You can check for available schedules and book your appointment through the official PRA website.
Step 2: Select a suitable retirement option
The SRRV retirement program offers various options that cater to different lifestyles, qualifications, and retirement statuses. Here are the available retirement options:
- SRRV Smile: This option is suitable for active and healthy retirees who wish to retain their SRRV visa deposit of $20,000 in any of the PRA-accredited banks.
- SRRV Classic: Active and healthy retirees who prefer to invest their SRRV visa deposit in active investments, such as purchasing a condominium unit or entering into a long-term house lease, can choose this option.
- SRRV Human Touch: Designed for retirees aged 50 and above who require medical or clinical care due to bad health conditions.
- SRRV Courtesy: This option is available for former Filipinos and foreign nationals aged 50 and above who have served as retired officers of International Organizations recognized by the Department of Foreign Affairs (DFA).
- SRRV Expanded Courtesy: Specifically meant for foreign nationals aged 50 and above who are retired officers of foreign Armed Forces with existing military ties or agreements with the Philippine Government.
Step 3: Apply to the PRA for a retirement visa
Once you have selected the appropriate retirement option, you must submit your retirement visa application along with your documents to one of the PRA Satellite offices in the major cities of the Philippines. The PRA has offices in Makati, Baguio, Angeles, and Cebu for SRRV visa applications. It is important to note that the Philippine Retirement Authority (PRA) requires you to travel to the Philippines to apply personally.
How much is a retirement visa in the Philippines?
The cost of a retirement visa in the Philippines includes processing fees based on the applicant type. Here are the following are the fees involved:
- Principal applicant: $1,400
- Dependent applicant: $300
- Principal applicant and two dependents: $360 (annual fee)
These fees are required when applying for a resident visa in the Philippines under the SRRV program. Please remember that these fees are subject to change, so it’s always recommended to check with the Philippine Retirement Authority (PRA) for the latest updates on the SRRV visa Philippines cost.
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Frequently Asked Questions (FAQs)
What are the benefits of retirement in the Philippines?
The Philippines offers retirees benefits, such as crystal clear beaches and beautiful tropical weather. Foreign retirees can obtain a retirement visa in the Philippines through the Special Residence Retirees Visa (SRRV) program, which allows them to live, retire, or invest in the country.
Can foreigners retire in the Philippines?
Yes, foreigners can retire in the Philippines. They can apply for a retirement visa in the Philippines under the SRRV program if they meet certain criteria, such as being at least 50 years old and having a pension or being at least 35 years old and making a deposit of at least $50,000. They also need to have no criminal record and be able to support themselves and any family members financially.
How much is the cost of an SRRV visa in the Philippines?
The cost of an SRRV visa in the Philippines is $1,400 for the principal applicant, $300 for a dependent applicant, and $360 for the principal applicant and two dependents (annual fee).
Where can I apply for an SRRV visa in the Philippines?
You can apply for an SRRV visa in the Philippines by visiting one of the PRA satellite offices in major cities, including Makati, Baguio, Angeles, and Cebu.
What are the best places to retire in the Philippines?
The country is known for its beautiful beaches and tropical climate, so popular retirement destinations often include popular tourist areas such as Cebu, Boracay, Palawan, and Dumaguete.
Is the SRRV visa suspended?
The acceptance and processing of applications for new SRRV visas were suspended last October 23, 2020. However, the Philippines Retirement Authority (PRA) resumed accepting and processing SRRV visa applications as of June 1, 2021. Please note that the SRRV smile visa program for early retirees over 35 years old is still suspended.
4 Responses
Can a srrv be turned down if for what reason
Hi Nigel, once the SRRV is obtained, it won’t get turned down as long as you don’t break the Philippine rules or laws. We offer assistance with applying for SRRV in the Philippines. Please send us an email at [email protected] to get more information.
Hi,
Do I need to stay for a minimum number of days per year to keep the residency?
Hello Herve, for the Special Resident Retiree’s Visa (SRRV) in the Philippines, there is no minimum number of days you must stay in the country each year to maintain your residency status. This makes the SRRV an attractive option for retirees who wish to travel in and out of the Philippines without restrictions.