Special Resident Retiree’s Visa
The Special Resident Retiree’s Visa (SRRV) hereinafter referred to as the “Retiree’s Visa”, is a special non-immigrant visa separate and distinct from the existing visa categories defined by the Philippine Immigration Act of 1940, as amended, and allied laws. (Sec. 1, Rule II of LOI 1470)
LOI 1470, as a supplemental statute to E.O. 1037 was passed on July 4, 1985 aimed at:
- Developing and promoting the Philippines as a preferred retirement haven for former Filipinos and foreign nationals;
- Attracting foreign exchange; and
- Directing the issuance of the Special Resident Retiree Visa (SRRV).
The issuance of the SRRV to qualified PRA applicants, entitles the holder to reside in the Philippines for an indefinite period with multiple-entry privileges as long as the required minimum deposit investment subsists. (Sec. 2, Rule II of LOI 1470)
Moreover, the SRRV offers benefits which includes the exemption from the Exit Clearance, Re-Entry and Annual Registration requirements of the Bureau of Immigration, Travel Tax (provided the retiree has not stayed in the Philippines for more than a year from date of last entry) Special Study Permit, importation of household goods/personal effects worth US$7,000 for family use and other value added services.
The SRRV, characterized by its being indefinite with multiple-entry privileges, partakes the nature of a permanent and/or “lifetime” visa. Thus, guaranteeing the principal retiree and family members the privilege to settle permanently in the Philippines and enjoy the best quality of life in the most attractive package. This is the Authority’s international commitment and is the true meaning of “Smiling at Life” in the Philippines.
SRRV Members Benefits
- Option to Reside Permanently – may live, retire and invest in the Philippines
- Multiple Entry Privileges – may travel outside the Philippines, and re-enter anytime
- Exit clearance and re-entry permits of the Bureau of Immigration
- Annual registration requirement of the Bureau of Immigration
- Customs Duties and Taxes for the importation of personal effects and household goods up to US$7,000.00
- Travel tax, if stay in the Philippines is less than one year from the last entry date
- Special Study Permit
- Assistance in securing/obtaining documents from other Government Agencies such as:
- Department of Labor & Employment (DOLE)- Alien Employment Permit
- Land and Transportation Office (LTO) – Driver’s License
- National Bureau of Investigation (NBI)
- Department of Foreign Affairs (DOF)- Tax Exemption/ Extension Certificate
- Bureau of Internal Revenue (BIR) – Tax Identification Number
- Tax-Free remittance of Annuities and Pensions
- Guaranteed Repatriation of the Requisite Time Deposit
Programs for SRRV Members
SRRV Application One Stop Shop
The SRRV applicants can now proceed to our new PRA One-Stop-Shop assistance and processing center at the 29th floor of Citibank Tower (PRA Office). Applicants may undergo the initial requirements compliance in the center such as the local NBI Clearance, Medical Examination and the like. Our help desk representatives are there to evaluate and verify the documents presented.
Once the documentary requirements are satisfied and the necessary fees are settled, the endorsement for the SRR Visa Application is prepared and transmitted to the Bureau of Immigration for approval. The SRR Visa normally takes 5 to 7 working days to get approved. After the approval of the SRR Visa, the PRA I.D. card is issued. This card serves as the Alien Certificate of Registration (ACR) of legitimate SRRV holders which exempts them from the Annual Registration requirement, Exit Clearance and Re-Entry Permit, and the Application for the I-Card as required by the Bureau of Immigration
Greet and Assist
Designed purposely to showcase our hospitality to our guests is the introduction of the “Greet and Assist” program where prospective retirees and/or active participants are accorded the needed assistance during their entries and departures as convenient as possible.
Legitimate visa holders have special express lanes at the Immigration Area that speed up immigration procedures.
Easy Access to Quality but Affordable Education for your Children
Upon establishment of retiree-participants’ residence in the Philippines, having been granted the lifetime SRR Visa, dependent children who are likewise holders of the SRR Visa may pursue their studies in the Philippines without the need of a Special Study Permit (SSP).
You can work in the Philippines
For principal members who want to engage in a gainful employment in the Philippines, the Servicing Division extends their assistance in securing the Alien Employment Permit (AEP) with the Department of Labor and Employment.
Retiree Services and Assistance
The after-membership services are extended up to the application/issuance of the Local Driver’s License, Tax Identification Number and other concerns with the Bureau of Internal Revenue (BIR) on matters pertaining to income taxation, pension, gratuities and other similar benefits
Business and Pleasure- The Lifestyle Visa
The issuance of the SRR Visa does not restrict the holders from traveling back to their country of origin. They can travel in and out of the country free from Travel Tax provided they have not stayed in the Philippines for more than a year from date of last entry.
Bring Your Personal Effects to Your New Home Tax Free!
Having established their residential units in the Philippines, legitimate principal members have the option to avail of the tax-free importation of household goods/personal effects worth US$7,000. This is a one-time privilege per family and the stuffs and goods are only for family use and not for commercial purposes.
Member Support Desk
As part of the PRA family, services extended to its retiree-participants continue upon their immersion to the local communities. Problems and concerns with the community, local government units, business partners/associates, NGA’s and NGO’s are given priority attention by the PRA Servicing Center with dispatch until the same is resolved or terminated. In some instances, even in judicial and quasi-judicial bodies PRA makes representations to show its all-out support to the retiree concerned.
Efficient Health Care Services and Pre-Need Plans
Health care services and pre-need plans for active members and their families are under negotiation with the concerned pre-need institutions as a manifestation of our growing interest to protect the welfare of our participants.
Evidently, this is how sincere the Philippine Retirement Authority is in its commitment to its members of good standing.
Why retire in the Philippines?
Smile at Life in the Philippines.” This is our invitation to our former Filipino citizens and foreign nationals to choose the Philippines as their second home. Famous for our vibrant culture, hospitality, friendly English-speaking population, natural attractions, and tropical climate, retirees can expect the good life in the Philippines at an affordable cost.
The Philippines is an archipelagic nation made up of 7,107 islands spanning 1,840 kilometers north to south. It is part of the Southeast Asian region, and is bordered by Taiwan to the north, Indonesia and Malaysian Borneo to the south, the South China Sea to the west, and the Pacific Ocean to the east. The Three main Philippine Island groups are Luzon, Visayas, Mindanao. The Capital is Manila. Time Zone is GMT +8 hours.
Generally, Philippines has a tropical climate. March to May is hot and dry. June to October is rainy, November to February is cool. Average temperatures: 78F/25C to 90F/32C; humidity is 77%.
Understanding each other will not be a problem between the retirees and our people. Almost every Filipino can understand and speak some English. In fact, we are the third largest English-speaking nation in terms of population.
Two official languages are Filipino and English. Filipino which is based on Tagalog is the national language. English is widely used and is the medium of instruction in higher education. Eight (8) major dialects spoken by majority of the Filipinos: Tagalog; Cebuano; Ilocano; Hiligaynon or Ilonggo, Bicol, Waray, Pampango, and Pangasinense.
Some 83% of Filipinos are Catholic. About 5% are Muslim. The rest are made up of smaller Christian denominations and Buddhist.
COST OF LIVING
The principal appeal for retirement in the Philippines is the lower cost of living. Housing, food, and labor costs are quite reasonable. Global Filipinos and foreign retirees can retire in the Philippines and enjoy not only the lower cost of living but also the very favorable currency exchange rate.
The Philippines’ monetary unit is the Peso. Foreign currency may be exchanged at any hotels, most large department stores, banks and authorized money changing shops accredited by the Central bank of the Philippines. International credit cards such as Visa, Diners Club, Bank Americard, Master Card, and American Express are accepted in major establishments.
WORLD-CLASS MEDICAL AND HEALTH SERVICES
In terms of medical services, our facilities are comparable to the best anywhere else. Our highly trained medical personnel and caregivers are in demand all over the world not only for their competence and expertise but most especially for the care and compassion they show to their wards. Healthcare, a top priority of the senior market, is an expertise of the Filipino who is world-renowned for his excellent healthcare practitioners.
Filipinos are naturally warm, friendly and hospitable. We have a ready smile for everybody and our religious background that is predominantly Catholic makes service to others an innate trait.
Every retiree can avail of the country’s continuously improving telecommunication facilities. They can keep abreast of what is happening around the world and keep in touch with their relatives and friends back home.
Philippines can provide the retirees endless choices of world-class destinations that will bring them closer to Mother Nature with clean air and beautiful sceneries. The white sand beaches of Boracay and Panglao and the virgin islands of Palawan often referred to as “the last frontier” are truly unforgettable places that entice the visitors to come back in the Philippines.
The Philippine Retirement Authority (PRA) prides itself on the after-membership service that it provides to the retirees. During their stay in the country, they can consider PRA as their second family. PRA helps them address their needs. If and when they encounter any problem, PRA is with them every inch of the way.