Stealth007 Posted December 4, 2016 Share Posted December 4, 2016 Special Resident Retiree's Visa (SRRV) The Special Resident Retiree's Visa (SRRV) is issued by the Bureau of Immigration (link is external) (BI) of the Republic of the Philippines under the Retirement Program of the Philippine Retirement Authority (link is external) (PRA) to foreigners and overseas Filipinos. It entitles the holder to multiple-entry privileges with the right to stay permanently/indefinitely in the Philippines. Who may apply for Special Retiree's Resident Visa (SRRV)? 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 1. With Pension - 50 years old and above - the required time deposit is US$10,000.00 plus a monthly pension of US$800.00 for a single applicant and US$1,000 for couple. 2. Without Pension 35 to 49 years old - US$50,000.00 time deposit 50 years old and above - US$20,000.00 time deposit Former Filipino Citizens (at least 35 years old, regardless of the number of dependents - US$1,500.00) Ambassadors of Foreign Countries who served and retired in the Philippines, current and former staff members of international organizations including ADB (at least 50 years old) - US$1,500.00 3. 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$15,000.00 per child. The said time deposit however, is subject the same and conditions with that of the principal deposit. This does not apply to former Filipino Citizens. What is the validity of SRRV? The holder of the SRRV may reside in the Philippines without securing extensions of his stay from the Bureau of Immigration. Are SRRV holders exempted from Travel Tax? PRA members who are holders of valid SRRV are exempted from paying travel tax provided they have not stayed in the Philippines for more than one year from the date of last entry into the country. Can SRRV holder own real property in the Philippines? No. If he or she is legally married to a Philippine citizen, he or she may construct a residential unit on a parcel of land owned and/or registered in the name of Philippine spouse. Natural-born former Filipinos whose SRRV has been issued may own/acquire a maximum area of 5,000 square meters of urban land and three (3) hectares of agricultural land. Is the dollar deposit convertible to other currency? The dollar deposit may be converted into peso after 30 days upon issuance of the Special Resident Retiree's Visa (SRRV). Where do I get the approval of the SRRV? The approval of your application will come from the Bureau of Immigration. The pre-evaluation of the application is made by the Philippine Retirement Authority where applications are filed. How long is the processing time? Processing time takes seven to ten working days upon receipt of complete requirements. Can my spouse and unmarried minor children be granted an indefinite privilege to reside in the Philippines? Yes. Your spouse and a legitimate or legally adopted unmarried child under twenty-one (21) may be given an indefinite status if they are accompanying or joining you soon after your admission into the country as such. Is there an additional deposit for unmarried children if they are following or accompanying me? Yes. There is an additional deposit of US$15,000.00 or any equivalent acceptable foreign currency for each additional legitimate or legally adopted unmarried child under twenty-one (21) years of age. What are the benefits with SSRV? Permanent non-immigrant status with multiple-entry privileges through the Special Resident Retiree's Visa; Exemption from customs duties and taxes for the importation of personal effects; Exemption from Exit Clearance and Re-entry Permits; 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; Conversion of the requisite deposit into active investments, including purchase of condominium unit; 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; and Guaranteed repatriation of the requisites deposit including invested profits, capital gains and dividends accrued from investments, upon compliance with Bangko Sentral rules and regulations. Requirements for SRRV Completed Philippine Retirement Authority application form (link is external); Valid passport; DFA Medical Examination Form No. 11 accomplished by a licensed physician from the applicant's place of origin, including AIDS Test, duly authenticated by the Philippine Embassy/Consulate posted there or PRA Medical Certificate (RSSC Form No. 002) accomplished by a licensed physician in the Philippines; Certification by PRA shortlisted bank of the requisite deposit in the following categories; A. With Pension - 50 years old and above - the required time deposit is US$10,000.00 plus a monthly pension of US$800.00 for a single applicant and US$1,000 for couple. B. Without Pension 35 to 49 years old - US$50,000.00 time deposit 50 years old and above - US$20,000.00 time deposit Former Filipino Citizens (at least 35 years old, regardless of the number of dependents - US$1,500.00) Ambassadors of Foreign Countries who served and retired in the Philippines, current and former staff members of international organizations including ADB (at least 50 years old) - US$1,500.00 Police Clearance, duly authenticated by the Philippine Embassy/Consulate, issued abroad or National Bureau of Investigation (NBI) Clearance, issued in the Philippines; Photographs, 2.4 cms and 5 cms. six (6) pieces each; If the spouse is joining the applicant, Marriage Certificate or Marriage Contract if the applicant's marriage was solemnized in the Philippines or Marriage Certificate duly authenticated by the Philippine Embassy/Consulate nearest the applicant's residence abroad if the marriage was contracted abroad (under PRA rules, should the resident retiree suffer an untimely demise, the surviving spouse who is a holder of SRRV has the option to become the principal retiree using the original principal dollar deposit as his/her qualifying deposit. If he/she chooses not to, the law on succession shall apply); If dependent/s is/are joining the applicant, Birth Certificate/s of dependent/s born in the Philippines or Birth Certificate/s or Household Register duly authenticated by the Philippine/Consulate nearest the applicant's residence abroad; and Payment 3,600 NOK) https://www.philembassy.no/consular-services/visa/special-resident-retirees-visa-srrv 2 Quote Link to comment Share on other sites More sharing options...
The Special Resident Retiree's Visa (SRRV) is issued by the Bureau of Immigration (link is external) (BI) of the Republic of the Philippines under the Retirement Program of the Philippine Retirement Authority (link is external) (PRA) to foreigners and overseas Filipinos. It entitles the holder to multiple-entry privileges with the right to stay permanently/indefinitely in the Philippines. Who may apply for Special Retiree's Resident Visa (SRRV)? 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 1. With Pension - 50 years old and above - the required time deposit is US$10,000.00 plus a monthly pension of US$800.00 for a single applicant and US$1,000 for couple. 2. Without Pension 35 to 49 years old - US$50,000.00 time deposit 50 years old and above - US$20,000.00 time deposit Former Filipino Citizens (at least 35 years old, regardless of the number of dependents - US$1,500.00) Ambassadors of Foreign Countries who served and retired in the Philippines, current and former staff members of international organizations including ADB (at least 50 years old) - US$1,500.00 3. 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$15,000.00 per child. The said time deposit however, is subject the same and conditions with that of the principal deposit. This does not apply to former Filipino Citizens. What is the validity of SRRV? The holder of the SRRV may reside in the Philippines without securing extensions of his stay from the Bureau of Immigration. Are SRRV holders exempted from Travel Tax? PRA members who are holders of valid SRRV are exempted from paying travel tax provided they have not stayed in the Philippines for more than one year from the date of last entry into the country. Can SRRV holder own real property in the Philippines? No. If he or she is legally married to a Philippine citizen, he or she may construct a residential unit on a parcel of land owned and/or registered in the name of Philippine spouse. Natural-born former Filipinos whose SRRV has been issued may own/acquire a maximum area of 5,000 square meters of urban land and three (3) hectares of agricultural land. Is the dollar deposit convertible to other currency? The dollar deposit may be converted into peso after 30 days upon issuance of the Special Resident Retiree's Visa (SRRV). Where do I get the approval of the SRRV? The approval of your application will come from the Bureau of Immigration. The pre-evaluation of the application is made by the Philippine Retirement Authority where applications are filed. How long is the processing time? Processing time takes seven to ten working days upon receipt of complete requirements. Can my spouse and unmarried minor children be granted an indefinite privilege to reside in the Philippines? Yes. Your spouse and a legitimate or legally adopted unmarried child under twenty-one (21) may be given an indefinite status if they are accompanying or joining you soon after your admission into the country as such. Is there an additional deposit for unmarried children if they are following or accompanying me? Yes. There is an additional deposit of US$15,000.00 or any equivalent acceptable foreign currency for each additional legitimate or legally adopted unmarried child under twenty-one (21) years of age. What are the benefits with SSRV? Permanent non-immigrant status with multiple-entry privileges through the Special Resident Retiree's Visa; Exemption from customs duties and taxes for the importation of personal effects; Exemption from Exit Clearance and Re-entry Permits; 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; Conversion of the requisite deposit into active investments, including purchase of condominium unit; 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; and Guaranteed repatriation of the requisites deposit including invested profits, capital gains and dividends accrued from investments, upon compliance with Bangko Sentral rules and regulations. Requirements for SRRV Completed Philippine Retirement Authority application form (link is external); Valid passport; DFA Medical Examination Form No. 11 accomplished by a licensed physician from the applicant's place of origin, including AIDS Test, duly authenticated by the Philippine Embassy/Consulate posted there or PRA Medical Certificate (RSSC Form No. 002) accomplished by a licensed physician in the Philippines; Certification by PRA shortlisted bank of the requisite deposit in the following categories; A. With Pension - 50 years old and above - the required time deposit is US$10,000.00 plus a monthly pension of US$800.00 for a single applicant and US$1,000 for couple. B. Without Pension 35 to 49 years old - US$50,000.00 time deposit 50 years old and above - US$20,000.00 time deposit Former Filipino Citizens (at least 35 years old, regardless of the number of dependents - US$1,500.00) Ambassadors of Foreign Countries who served and retired in the Philippines, current and former staff members of international organizations including ADB (at least 50 years old) - US$1,500.00 Police Clearance, duly authenticated by the Philippine Embassy/Consulate, issued abroad or National Bureau of Investigation (NBI) Clearance, issued in the Philippines; Photographs, 2.4 cms and 5 cms. six (6) pieces each; If the spouse is joining the applicant, Marriage Certificate or Marriage Contract if the applicant's marriage was solemnized in the Philippines or Marriage Certificate duly authenticated by the Philippine Embassy/Consulate nearest the applicant's residence abroad if the marriage was contracted abroad (under PRA rules, should the resident retiree suffer an untimely demise, the surviving spouse who is a holder of SRRV has the option to become the principal retiree using the original principal dollar deposit as his/her qualifying deposit. If he/she chooses not to, the law on succession shall apply); If dependent/s is/are joining the applicant, Birth Certificate/s of dependent/s born in the Philippines or Birth Certificate/s or Household Register duly authenticated by the Philippine/Consulate nearest the applicant's residence abroad; and Payment 3,600 NOK) https://www.philembassy.no/consular-services/visa/special-resident-retirees-visa-srrv
Pdoggg Posted December 4, 2016 Share Posted December 4, 2016 19 minutes ago, Stealth007 said: 50 years old and above - US$20,000.00 time deposit Great info Stealth! Approx the same amount of money for a 50+ guy as in Thailand. But in the PI the money MUST be in a Time Deposit while in Thailand it CAN'T be in a Time Deposit. Same same but different! 1 Quote Link to comment Share on other sites More sharing options...
kijang Posted December 7, 2016 Share Posted December 7, 2016 As an alternative to a SRRV, some might opt (as I did) for a 'quota' visa This is a permanent immigrant visa that conveys all privileges - bank accounts, right to work, etc - except land ownership and citizenship Once obtained, the only requirements are - accomplish your annual 'report' to any BI office in the first quarter of each year (a requirement for all resident aliens in the RP); and - renew your 'I'card prior to its expiration every five years http://www.immigration.gov.ph/visa-requirements/immigrant-visa/quota-visa# No need to marry a Filipina lol No need to invest a large sum in a time deposit account If you are interested, some suggestions - - avoid the many 'scams' by those who represent their ability to obtain this highly sought visa (only 50 per year) - instead, look for a law firm or attorney in private practice with experience in immigration matters to handle your quota visa application For my part, I am happy to provide a reference to the attorney who took good care of me years ago PM please if you are interested All the best 2 Quote Link to comment Share on other sites More sharing options...
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