If you wish to retire in the Philippines, Duran & Duran-Schulze Law can assist you to apply for a Special Resident Retiree’s Visa (SRRV). We are a immigration law firm that can help you navigate through the complexities of the Philippine Immigration Law.
Special Resident Retiree’s Visa (SRRV)
A Special Resident Retiree’s Visa (SRRV) is offered to former Filipino citizens and foreign nationals who wish to live, retire, or invest in the Philippines permanently.
The SRRV applicants must be at least fifty (50) years old and without a criminal record or pending court case. They should not also be deemed “restricted” or disallowed from entering the country by the Department of Foreign Affairs (DFA).
Types of Special Resident Retiree’s Visa (SRRV)
The Philippine Retirement Authority (PRA) offers different SRRV to foreign nationals who want to retire in the country, which are as follows:
- SRRV Smile is offered to active and healthy foreign retirees and may deposit a US $20,000 in any of the PRA accredited banks.
- SRRV Classic is for active or healthy foreign retirees who desire to be involved in an active investment, such as purchasing a condominium unit, long term lease of house and lot, or any property in the country, and be able to deposit a US $10,000 to US $20,000.
- SRRV Human Touch is offered to ailing retirees who need medical or clinical care. They must have a monthly pension of at least US $1,500.00 and a health insurance policy accepted in the Philippines. They are also required to deposit a US $10,000.
- SRRV Courtesy is granted to former Filipino citizens and foreign nationals who are retired officers of International Organizations, recognized by the Department of Foreign Affairs (DFA). They are required to deposit a US $1,500.
- SRRV Expanded Courtesy is issued to foreign nationals who are retired Armed Force officers of the USA. They must have a monthly pension of at least US $1,000 and must deposit a US $1,500.
Frequently Asked Questions:
Who is eligible to apply for a Special Resident Retiree’s Visa (SRRV)?
Any foreign nationals who are at least fifty (50) years old can apply for SRRV, provided that they can meet the required bank deposit.
What are the requirements for a Special Resident Retiree's Visa (SRRV) application?
The following documents are required to be submitted:
- Duly accomplished Philippine Retirement Authority (PRA) application form
- Original passport with valid entry status (you must downgrade your existing visa if you do not hold a Tourist Visa before applying for the retirement program)
- Medical Examination Clearance
- National Bureau of Investigation (NBI) Clearance
- 6 copies of 1×1 and 2×2 pictures
- Bank Certification of Dollar Time Deposit – Inward Remittance to PLRA Accredited Banks
- Required deposit fee
How long does it take to get a Special Resident Retiree’s Visa (SRRV)?
Processing a SRRV usually takes at least one (1) month.
What is the validity period of a Special Resident Retiree’s Visa (SRRV)?
A SRRV allows its holder to stay permanently in the Philippines, and can also enter and exit the country anytime they want, without being required to obtain an Exit Clearance and Re-Entry Permit from the Bureau of Immigration (BI).
What are the benefits of a Special Resident Retiree's Visa (SRRV) holder?
The Philippines offer the following benefits for a SRRV holder:
- Indefinite stay with multiple-entry/exit privileges
- Free subscription to the PRA Newsletter;
- Discount privileges from PRA accredited partners;
- Free assistance in transacting with government agencies; and
- Access to PhilHealth benefits and privileges.
Additionally, they are exempted from:
- Philippine Bureau of Immigration ACR-I Card (Annual Report);
- Income tax over their pension and annuities earned abroad;
- Customs duties regarding importation of household goods and personal effects worth up to US $7,000.00; and
- Travel Tax, if stayed in the Philippines for less than one (1) year from last date of entry.
Duran & Duran-Schulze Law Can Help
Visa Application Assistance
We can assist you in preparing and compiling the required documents for your SRRV application. This includes completing forms, gathering financial statements, and obtaining any supporting documents. We can also submit the SRRV application on your behalf. More importantly, we ensure that all documents are accurate and complete to prevent any delays.
Legal Representation
In case of any issues or complications during the application process, such as requests for additional information or interviews, our knowledgeable lawyers can represent your interests on your behalf and guarantee to come up with a favorable outcome.
Resolve Visa Concerns
Our goal is to keep our clients informed about potential risks and guide them on providing solutions. With our expertise, our legal team can answer your queries and address your concerns promptly.
