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Immigration FAQ | SRRV Special Resident Retirement Visa

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  • Immigration FAQ | SRRV Special Resident Retirement Visa

    Click image for larger version  Name:	Philippines-Retirement-Visa.jpg Views:	1 Size:	48.7 KB ID:	3071
    The different SRRV retirement visas are the choice for expats and digital nomads thinking about retiring in the Philippines. The visa's selling point is the flexibility to use your deposit for investment. Investments can include real estate for a primary residence or condo, as well as membership shares into a golf club or country club.
    • SRRV Smile - Currently not available
      The Smile visa is the simplest visas to obtain as long as you are healthy, active, and able to deposit US$ 20.000 in an approved Filipino retirement account and keep it there unless and until you choose to cancel your SRRV. Anyone 35 to 49 years old can apply. Unlike other SRRV programs, the Smile program does not allow you to deploy your capital into an investment. It is, however, relatively straightforward. Your US$ 20.000 deposit allows you to live in the Philippines on an annually renewable basis and you can pay extra for dependents. And the list of requirements to apply is pretty short: a medical clearance and police clearance in the Philippines are as bad as it gets.
    • SRRV Classic | 50 years +
      Anyone 50 or over can qualify with a deposit of just US$ 10,000 for those who can prove a guaranteed monthly income of US$ 800.00 for individuals or US$ 1,000 for couples. Those 50 or over who cannot prove monthly income can still obtain the visa by depositing $20,000. Guaranteed monthly income can include your retirement pension plan.
    • SRRV Courtesy
      The Courtesy visa is for former Filipinos who are 35 years of age or older, as well as for foreign nationals age 50 or above who have served as diplomats, ambassadors, or as officers or staff of an international organization (like the UN or the Asian Development Bank) in the Philippines. If you are married to a former Filipino citizen who lost their citizenship, you could reclaim their citizenship through the Philippines dual citizenship program; however, if they only want to reside in the Philippines, you could save thousands of dollars by having your spouse apply for the Courtesy visa instead and include you in their application as a dependent. Between the application fees (US$ 1400.00 for the main applicant and US$ 300.00 for the spouse) and the reduced deposit amount of just US$ 1500.00, you could obtain two residencies in under two weeks and for less than US$ 3500.00. Even compared to the US$ 10.000 deposit required for the Classic visa, this is a deal.
    • SRRV Human Touch
      The Human Touch visa is for retirees 35 years old and above who have a need for medical or clinical services. If you have a pre-existing medical condition, the Philippines Retirement Authority offers a solution in the form of the SRRV Human Touch Visa. This program is the same as the basic retirement program, but it reduces the non-convertible deposit to US$ 10.000 on the basis that you’ll be paying to receive care in the Philippines. You just need a small monthly pension. The Philippines is not the best in the region for health care (those honors go to Malaysia and Thailand). However, you can find care in the big cities that rivals that of many American and European countries.
    • Indefinite stay with multiple-entry/exit privileges;
    • Exemption from:
      - Philippine Bureau of Immigration ACR-I Card (Annual Report)
      - Customs duties & taxes for one time importation of household goods & personal effects worth up to US$ 7.000
      - Tax from pensions & annuities
      - Travel Tax, if retiree has not stayed in the Philippines for more than 1 year from last date of entry
    • Access to the Greet & Assist Program at selected Philippine Airports
    • Free subscription to the PRA Newsletter
    • Discount privileges from PRA accredited Merchant Partners
    • Free assistance in transacting with other government agencies;
    • Entitlement to PHILHEALTH benefits & privileges.