Special Resident Retirement Visa
One type of Resident Visa is know as the SRRV or Special Resident Retiree Visa. You are required to leave the money in the bank. Recently 800 people were deported and blacklisted for withdrawing their funds.
The requirements are as follows:
• At least 35 years old
• Without criminal record
• Meeting medical standards
• Meeting the investment requirement
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$1,000.00 for couple
2.Without Pension
o35 to 49 years old – US$50, 000.00 time deposit
o50 years old and above – US$20, 000.00 time deposit
oFormer Filipino Citizens (at least 35 years old, regardless of the number of dependents – US$1,500.00)
oAmbassadors 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 a 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.
For additional details and to apply online visit: http://www.pra.gov.ph/
The benefits of the SRRV is you can have a business in the Philippines and you are a resident. You don’t have to leave every 16 months and no bi-monthly trip to the Bureau of Immigration to your visa extended.
Your funds can be invested in a home and some other qualifying investments.
I hope to obtain the Special Resident Retirement Visa.
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I am a Bangladeshi national resident in kualumpur, Malaysia. I am retired from my job, like to know dtals of how to get a long time resident visa in Phil.
I don’t know the answer to your question. The article you left your comment on should provide some information or resources to find out. There are several factors that come into play. One of those is the country that issued you your passport. The BI site will have that info though.
Rusty, It seems from this post of your that if a person has had the misfortune of having had trouble with the law in his past that he will not qualify for a visa to stay in the Phil’ tell me is there any way around this?
You PROBABLY wont have a problem on a tourist visa. I would contact the embassy in your home country and ask or you could send an email to BI. Click on the Immigration menu and go to that page. A link to their site is there.
Some people have been denied entry in the last year. The Philippines added a connection to networked computers, I think FBI? That gives them the information. So it might be worth checking into before buying a ticket. i will try to research this area more. I plan to add much more about immigration to my eBook but it is such an overwhelming endeavor, if I go beyond copy and paste.
It depends on the type of crime. I know someone that is here and he spent 3 months in the county lock up for drunk driving.
A tourist visa means just a stamp in your passport
I suggest that anyone with similar questions contact the Philippines Retirement Authority in Makati direct. They are very helpful. Contact is:
Annalyn A. Eria
Officer-In-Charge
Processing Division
Resident Retiree Servicing Center
Email :processing@pra.gov.ph
Telephone No.: (+32) 848-1411
I am engaged to a philipina, if I get married do I qualify for some sort of permanent residency ? Or do I have to still make visa runs?
Hi Richard
You will likely qualify for a 13A and you will not have to renew every two months and you will not have to make expat runs.
Hello Rusty
How do has the time deposit money remain in the bank?
As long as you live here but there are certain things you can withdraw it for. You have to get permission from the Philippines Retirement Authority before you do so. A few years ago 700 Koreans were deported and blacklisted for removing the funds.