SRR Visa
The Special Resident Retiree’s Visa (SRRV) is a special non-immigrant visa for foreign nationals who would like to make the Philippines their second home or investment destination.
The Special Resident Retiree’s Visa (SRRV) is issued by the Bureau of Immigration (BI) of the Republic of the Philippines under the Retirement Program of the Philippine Retirement Authority (PRA) to foreigners. It entitles the holder to multiple-entry privileges with the right to stay permanently/indefinitely in the Philippines.
The Benefits of SRR Visa
- Permanent non-immigrant status with multiple-entry privileges through the Special Resident Retiree’s Visa.
- Guaranteed repatriation of the requisites deposit including invested profits, capital gains and dividends accrued from investments, upon compliance with Pilipino Central Bank’s (Bangko Sentral) rules and regulations.
- Conversion of the requisite deposit into active investments, including purchase of condominium unit.
- Free assistance in transacting with other government agencies.
- Exemption from:
(A) Philippine Bureau of Immigration ACR-I Card (Annual Report). (Exemption from Exit Clearance and Re-entry Permits).
(B) Customs duties & taxes for one-time importation of household goods & personal effects worth up to US$7,000 Tax from pensions & annuities.
(C) Exemption from payment of travel tax provided the retiree has not stayed in the Philippines for more than one year from date of his last entry into the country.
(D) Student Visa/Study Permit.
- Interest on the foreign currency deposit is tax-free and payable to retiree in Philippine Pesos.
- Foreign currency time deposit can be converted into Philippine Pesos deposit, but interest is subject to withholding tax.
- Pension, annuities remitted to the Philippines are tax-free.
- Discount privileges from PRA accredited Merchant Partners.
- Entitlement to PHILHEALTH benefits & privileges.
- Access to the Greets & Assist Program at selected Philippine Airports.
SRRV SMILE
For young active/healthy retirees, who opt to maintain their SRR Visa deposit of US $20,000 in any of the PRA (Philippine Retirement Authority) Accredited Banks.
SRRV CLASSIC
A retiree who applies for a Special Resident Retiree Visa (SRRV) has the option to enroll to the program based from his retirement status.
Retirement Option and their Required Time Deposit
01.With Pension – 50 years old and above – the required time deposit is US $10,000 plus a monthly pension of US $800 for a single applicant and US $1,000 for couple.
02. Without Pension
35 to 49 years old – US $50,000-time deposit
50 years old and above – US $20,000-time deposit
03. A resident retiree can bring with him, without additional deposit, his spouse and child who is unmarried and below 21 years old or if the spouse is not joining, two (2) children (provided they are unmarried and under 21 years of age.) Additional children with the same qualifications may also be allowed to join the principal retiree provided there is an additional deposit of US$15,000 per child. The said time deposit however, is subject the same and conditions with that of the principal deposit.
SRRV HUMAN TOUCH
For ailing retirees, 35 years old & above, who need/require medical/clinical care. A monthly pension of at least US $1,500 a health insurance policy accepted in the Philippines, and an SRR Visa deposit of US $10,000 are required.
Application Requirements: The application requirements are very simple. The following requirements should have of an applicant.
- Applicant (Foreigner) should be at least 21 years older.
- Have enough ability to meet the financial criteria.
- Police Clearance Certificate.
- Medical Examination Certificate.
The Processing Time
Processing time takes min. 30 working days upon receipt of complete requirements.
SIR VISA
The Special Investor’s Resident Visa (SIRV) entitles the holder to reside in the Philippines for an indefinite period as long as the required qualifications and investments are maintained.
Who can Apply for a SIRV?
Any alien, except for restricted nationals, at least twenty-one (21) years of age, who meets the qualifications and follows the implementing rules provided for in the issuance of an SIRV. The applicant’s spouse and unmarried children under twenty-one (21) years of age may also be issued the same visa.
The applicant must not have been convicted of a crime involving moral turpitude, been afflicted with any loathsome, dangerous or contagious disease; has not been institutionalized for any mental disorder or disability; and is willing and able to invest the amount of at least USD $ 75,000 in the Philippines.
Application Requirements: The application requirements are very simple. The following requirements should have of an applicant.
- Applicant (Foreigner) should be at least 21 years older.
- Have enough ability to meet the financial criteria.
- Police Clearance Certificate.
- Medical Examination Certificate (If necessary).
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