Some of the best beaches in the world are located in the Philippines. From the white sands and turquoise waters of Borocay to the luxury shopping in Makati, more and more people are choosing to retire in the Philippines. Before making the move, however, it’s important to do the proper research. Understanding the SRRV visa Philippines and income requirements, cost of living, where to live, and housing and healthcare will help individuals make a more informed decision.
What is the Special Resident Retiree’s Visa in the Philippines?
Foreigners and overseas Filipinos can apply for the Special Resident Retiree’s Visa (SRRV) in the Philippines, which is issued by the Bureau of Immigration of the Republic of the Philippines, under the Retirement Program of the Philippine Retirement Authority (PRA). Holders of the SRRV Visa in the Philippines are entitled to multiple-entry privileges with the right to reside in the Philippines either permanently or indefinitely.
Who can apply for the SRRV?
The SRRV is a special non-immigrant visa for foreign nationals who would like to make the Philippines their second home or investment destination.
• Must be foreign nationals or former Filipino citizens who are at least 35 years old.
• The 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.
What is the process for getting an SRRV?
The SRRV program of the PRA requires the foreign national to have a certain amount of money deposited in any PRA-accredited bank in the Philippines. The amount has to be deposited via inward remittance.
Basic SRRV requirements:
- Original valid Passport with valid /updated Temporary Visitor’s Visa;
- Accomplished PRA Application Form;
- Original valid Medical Clearance;
- Original valid Police Clearance from 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;
- Photos (12 pieces, 2″x2″);
- SRR Visa deposit that is inwardly remitted;
- Processing/Service Fees (one-time):
• USD 1,400 – Principal applicant
• USD 300 Dependent applicant
• Annual Fee of USD 360 (for the Principal & two dependents)
- Marriage Certificate for joining dependent-spouse
- Birth Certificate for joining dependent-child.
Additional requirements may be requested depending on the SRRV option to be chosen by the SRRV applicant.
The medical and police clearances are valid up to 6 months from 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.
What are the different types of SRRV?
Individuals interested in applying for an SRRV should consult the SRRV Info Guide for full details.
What are some of the benefits of the SRRV?
• Indefinite stay with multiple-entry/exit privileges;
• Access to the Meet & Assist Program at selected Philippine airports;
• Free assistance in transacting with other government agencies;
• Entitlement to PhilHealth benefits & privileges.
Living in the Philippines can be an amazing retirement experience. But it’s important first to understand the requirements and process of applying for the SRRV. Applicants can contact a PRA accredited marketer to ask questions or begin the process of applying.