What are the requirements for a Special Resident Retiree’s Visa?

by Kia Marie Emanel Pano

The Special Resident Retiree’s Visa (SRRV), is a special non-immigrant visa which entitles the holder to reside in the Philippines.

The basic requirements for the application of SRRV are the following: 1) Original Passport with valid/updated Temporary Visitor’s Visa; 2) Accomplished Philippine Retirement Authority (PRA) application form; 3) Original valid Medical Certificate; 4) Original Valid Police Clearance from country of origin, and an additional National Bureau of Investigation (NBI) clearance if applicant has stayed in the Philippines for over 30 days from last date of entry; 5) Photos (8 pieces, 2×2); 6) SRRV deposit that is inwardly remitted; 7) Processing/Service Fee of US $1,400.00 for the Principal Applicant, and an additional US $300.00 for each Dependent Applicant; 8) Annual Fee of US $360.00 for the Principal and two dependents if there are any.

There are four (4) SRRV options which you can choose from. First is SRRV SMILE which is intended for active/ healthy retirees, who opt to maintain their SRRV deposit of US $20,000.00 in any of the PRA Accredited Banks. Second is SRRV CLASSIC which is for active/healthy retirees, who opt to use their SRRV deposit into active investment such as the purchase of condominium unit or long-term lease of house and lot. The SRRV deposit is US $10,000.00 for 50 years old and above with a pension and US $20,000.00 for those without pension. For those who are 35 to 49 years old, the SRRV deposit is US $50,000.00.

On the other hand, for those ailing retirees who are 35 years old and above and who need or require medical/clinical care, a monthly pension of at least US $1,500.00, a health insurance policy accepted in the Philippines, and an SRRV deposit of US $10,000.00 are required to avail of SRRV HUMAN TOUCH. And lastly, SRRV EXPANDED COURTESY is available for foreign nationals who are 50 years old & above and who are also retired Armed Force officers of foreign countries with existing military ties and/or agreement with the Philippine Government. A monthly pension of at least US $1,000.00 and an SRRV deposit of US $1,500.00 are required. The SRRV deposit includes the principal applicant and 2 dependents. Additional dependent, entails additional SRRV deposit of US $15,000 each (except for former Filipinos). CHILDREN must be legitimate or legally adopted by the Principal Retiree, unmarried and below 21 years old upon joining the program.

Source: Philippine Retirement Authority (pra.gov.ph)