The Philippines
Special Resident Retiree’s Visa
The Philippines Special Resident Retiree’s Visa
The Philippines Special Resident Retiree’s Visa (SRRV), also known as Retirement Visa, is a non-immigrant visa for foreign nationals to reside, work and conduct investment activities legitimately in Philippines. Applicants for this program can obtain a 2-year renewable identity card and a visa with permanent validity through making a deposit of USD 20,000 or investing USD 50,000 in condominium. On 17th May 2021, PRA announced acceptance for applicants aged 50 years old or above to apply for Classic Project.
Time to permit
2-3 months
Visa-free travel
35 countries and regions
Passport rank
65th in the world
Residency requirement
No residency requirement
Taxation
No Import Tax
Established time
Program launched in 2011
Application Requirements
To apply for Philippines Special Resident Retiree’s Visa, you need to satisfy following requirements:
1. The main applicant ages 50 years old or above;
2. All applicants have no criminal record and are in good health;
3. USD 20,000 in fixed deposits for a family of three applicants;
4. For families with more than three accompanying members, an additional deposit of USD 15,000 is required for each additional person starting with the fourth family member’
5. For those who can provide a proof of pension (Single applicant: USD 800/month; Couple: USD 1,000/month), the required amount of deposit can be lowered to USD 10,000.
Program Benefits
1. Easily-met Requirement: No requirement on source of funds, English proficiency, education background or management experience;
2. No Residency Requirement: No residency requirement for maintaining the status;
3. Short Processing Time: A direct access to permanent residence with a total processing time of 8-10 months;
4. Flexible Investment Option: Making deposit with SMILE program or purchasing local property with CLASSIC program;
5. Indefinite stay in the Philippines with multiple entries;
6.Entitlement to PHILHEALTH benefits & privileges;
7. The Philippines is one of the most favorable retirement destinations due to its warm climate all year round, beaches and low cost of living.
