Special Residents Retiree’s Visa (SRRV)

Special Residents Retiree’s Visa (SRRV)

 

The SRRV refers to a visa in the Republic of Philippines that gives that entitles the holder to multiple entry privileges during his lifetime in the Philippines provided that the visa requirements are maintained. The visa is issued by the BI once it has been endorsed by the Philippine Retirement Authority (PRA). SRRV program has various types depending on the age, pension, and of bank deposit requirements that the foreign international is applying for.

Before an application for the SRRV, the foreign national must have a set amount of deposit in any PRA accredited bank in the Republic of the Philippines. For the amount to be recognized as acceptable to be used in the application of the SRRV, it has to be remitted via inward remittance. The legibility of the SRRV to foreign nationals begins at the age of 35 provided that the person meets at least one of the SRRV program requirements. Further, it is also possible for the applicant of the SRRV to be joined by his or her other dependents below the age of 21. The number of dependents is subject to the requirement of the program chosen and the amount deposited. The visa also allows for the conversion of the deposit into active investment provided that the amount is above US$50,000. Concerning the conversion of deposits into active investments, some programs may qualify foreign nationals 30 days after the issuance date of the SRRV. The active investment can be in the form of purchasing a condominium unit, long term lease of house or purchasing of golf or country shares. The processing time of the SRRV takes 15 to 20 working days upon submission of complete documentary requirements to the BI.

 

Benefits of SRRV

  1. Indefinite stay with multiple-entry/exit privileges;
  2. Access to the Greet & Assist Program at selected Philippine airports;
  3. Free subscription to the PRA Newsletter;
  4. Discount privileges from PRA accredited Merchant Partners;
  5. Free assistance in transacting with other government agencies;
  6. Entitlement to PHILHEALTH benefits & privileges
  7. 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 the retiree has not stayed in the Philippines for more than 1 year from the last date of entry
  • Student Visa/Study Permit

 

Qualification for SRRV

Principal Applicants Must be foreign nationals or former Filipino citizens who are at least 35 years old

Dependents 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.

 

Documentary Requirements for SRRV

  1. Original valid Passport with valid /updated Temporary Visitor’s Visa;
  2. Accomplished PRA Application Form;
  3. Original valid Medical Clearance;
  4. Original valid Police Clearance from the country of origin, and an additional NBI Clearance, if the applicant has stayed in the Philippines for over 30 days from the last date of entry;
  5. Photos (12 pieces, 2″x2″);
  6. SRR Visa deposit that is inwardly remitted;
  7. Marriage Certificate for joining dependent-spouse
  8. Birth Certificate for joining dependent-child.
  9. Fees

Processing/Service (one-time)

  • US$ 1,400.00 Principal applicant
  • US$ 300.00 Dependent applicant

 

  • Annual Fee of US$360.00 (for the Principal & 2 dependents)

 

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 the date of issuance.

All documents issued outside of the Philippines must be translated in English, if necessary, and authenticated by the Philippine Embassy/Consular Office nearest the applicant’s residence.