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Visa

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kenpic
  4/27/2017 11:08 EST

Thanks for your response.
One more question. On the retire visa does the money have to stay in the bank or can you use it. If you go below the initial deposit, then what happens?
Thanks again

surfingcebu
  4/27/2017 11:18 EST

yes, I had a question on that too . Is it tracked closely ? could you deposit 10 k (USD/CND?) , get the visa ....then buy a condo at a later date , or ?? 55 years old is the line on that ? ..either way the PH would be smart if they issued more retired visa - the retired people would spend much needed money !

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draks
  4/27/2017 20:21 EST

You deposit your $10,000 dollars (if you are 55) and you cannot touch it. You can invest that $10k in a condo but it has to be ready to move into, you can't invest that money into an off plan condo. I think the yearly charge is about $350 for that visa. If you want to leave the country you have to inform the authorities in writing first not sure of the details on that. The srrv does allow you to invest into a business here minimum $50,000, and normal rules apply, i e you can only own 40% of the company the other 60% has to be owned by a Philippine national. Most men have their wife as partner. The srrv allows you indefinite stay without having to renew every 2 or 6 months.

draks
  4/27/2017 20:30 EST

The government will issue the srrv to anyone that applys as long as they can pass all the requirements. It suits some people and not others.
If you marry a filipina you can apply for a 13a visa that gives you much what the Srrv does, this i think is the most popular here. Also if you are married to a filipina you can get the balackbeyan stamp which allows you to stay in Philippines for one year as long as you enter the country with your wife. After the year or just before actually leave the country for 24 hours return together and get another yearly stamp, no cost. Except your trip of course

TeeJay4103
  4/27/2017 20:50 EST

Allow us to give you a background on the retirement program of the Philippine government.

The Philippine Retirement Authority (PRA) is a government-owned and controlled corporation mandated to attract foreign nationals and former Filipino citizens to make the Philippines their second home or retirement destination. PRA’s core product is the Special Resident Retiree’s Visa (SRRV) – a special non-immigrant, multiple-entry, indefinite-stay visa which allows holders to stay in the Philippines for as long as they wish to stay in the Philippines without giving up their citizenship.
Other benefits include:

1. Multiple Entry Privileges
• They may come in and go out of the country anytime
2. Exempted from the following:
• Philippine Bureau of Immigration Annual Certificate of Registration (ACR) / I-Card:
• Alien Registration (AR);
• Emigration Clearance Certificate (ECC);
• Re-entry Permit (RP); and
• Special Return Certificate (SRC).
• Customs Duties and Taxes for the importation of household goods and personal effects up to US$7,000.00;
• Tax from pension and annuities;
• Travel tax, if stay in the country is less than one year from the last entry date;
• Student Visa/Special Study Permit for children-dependent; and
• Purchasing of Return Ticket.
3. Access to Greet and Assist Program at the NAIA, Cebu and Davao Airports
4. Free subscription of the PRN (PRA Newsletter)

As SRRV holders, they are entitled to discounts from accredited PRA Merchant Partners. PRA may also assist them to obtain basic documents from other government agencies, including but not limited to:

• Alien Employment Permit (AEP) from the Department of Labor and
Employment (DOLE) in case of employment in the Philippines;
• Driver's License from the Land Transportation Office (LTO);
• Tax Exemption/Extension Certificate from the Department of Finance (DoF) in availing the tax importation of household goods and personal effects;
• Tax Identification Number (TIN) from the Bureau of Internal Revenue (BIR) in case of setting-up a business in the country;
• Clearance from the National Bureau of Investigation (NBI).

Applicants may choose from the different SRRV Options that would suit his/her lifestyle and needs. Following are the basic features of the different SRRV Options:

1) SRRV SMILE – for active / healthy principal retirees 35 years old and above who would just like to maintain their Visa deposit of US$20,000.00 in any of the PRA designated banks;

2) SRRV CLASSIC – for active / healthy principal retirees who would opt to use their Visa deposit of US$10,000.00/US$20,000.00 (50 years old & above) or US$50,000.00 (35 to 49 years old) to purchase condominium units or use for long term lease of house and lot;

3) SRRV HUMAN TOUCH – for ailing principal retirees, 35 years old and above, who are shown to have medical/clinical needs and services. Under this option, the retiree only needs to have a Visa deposit of US$10,000.00, a monthly pension of at least US$1,500.00 and a Health Insurance Policy; and

4) SRRV COURTESY – for former Filipinos (35 years old & above), and foreign nationals (50 years old & above) who have served in the Philippines as diplomats, ambassadors, officers/staff of international organizations. The visa deposit is US$1,500.00.

And the necessary documents and fees that must be submitted and paid to PRA by a joining principal applicant are as follows:

a) Accomplished SRRV Application Form (downloadable at www.pra.gov.ph) – Information must be typed written and ensure that all information requested are answered;

b) Medical Certificate (downloadable at www.pra.gov.ph) – may be secured from the country of origin. However, said document must be translated in English, if necessary, and authenticated by the Philippine Embassy/Consular Office nearest the place where the Certificate was secured from. Applicant may opt to secure the Certificate in the Philippines from any licensed physician/clinic/hospital. If the certificate has been secured in the Philippines, there is no need for any authentication. A Medical certificate is only valid within 6 months from the date it was secured. PRA has an accredited clinic and we can assist you in securing said certificate;

c) Police Clearance – an Applicant need to secure this clearance from the country of origin. Said document must be translated in English, if necessary, and authenticated by the Philippine Embassy/Consular Office nearest the place where the Clearance was secured from. The validity of this document is for 6 months only;

d) NBI Clearance – in addition to the Police Clearance, a NBI Clearance (Philippine Document) is needed when an applicant has stayed in the Philippines for more than 30 days prior to his application for the SRRVisa. PRA can accompany the applicant in securing this document;

e) Bank Certification - A visa deposit must be remitted to PRA’s designated bank which is the Development Bank of the Philippines (DBP). The Bank will send PRA a notarized Bank Certification after the remittance has been received by the Bank. The amount of the Visa deposit depends on the SRRV Option that the applicant has chosen (Remittance instruction may be downloaded from the PRA Website).
A principal applicant may include in his application his spouse, and children who are below 21 years old and unmarried, as his dependents. In cases that the Principal applicant will include more than two (2) dependents, an additional visa deposit of US$15,000.00 for each additional dependent must be remitted under the name of the Principal applicant;

f) Original Passport with valid stay in the Philippines - in cases where the tourist visa expires while the SRRV is being processed, the applicant must have it extended. PRA may assist in the extension of the tourist visa;

g) Photos – 2x2 (12 pieces);

h) Application Fee of US$1,400.00 – this application fee or processing/service fee is a one time payment only and this encompasses all other fees for the Bureau of Immigration and PRA in relation to the application for the SRRVisa. In case that an applicant discontinues his/her application, the Application Fee may be reimbursed but the amount of US$200.00 will be deducted as service fee. However, if in a case wherein the applicant discontinues while the documents are already with the Bureau of Immigration, application fee is non-refundable already. In cases wherein the processing must be discontinued (needs to return to his country or for any other emergency reasons), the documents including the passport may be pulled out from the Bureau of Immigration. The applicant may proceed with his application later on but needs to pay an additional revalidation fee of Php5, 520.00 (Bureau of Immigration required fee);

i) PRA Annual Fee (PAF) of US$360.00 – this fee is payable upon joining the program and every year thereafter as long as the retiree is a holder of the SRR Visa. A principal Applicant must pay US$100 for each additional dependent in excess of two (2);

j) For joining dependents (spouse and children), as dependents they need to submit and pay the following:

a. Accomplished SRRV Application Form;
b. Medical Certificate;
c. Police Clearance (and NBI Clearance, if necessary) for Spouse, and for children who are 18 years old and above;
d. Marriage Certificate for the spouse and Birth Certificate for the child;
e. Original Passport with valid stay in the Philippines;
f. Photos;
g. Application Fee of US$300.00 for each joining dependent.
All documents coming from outside of the Philippines must be translated into English, if necessary and authenticated by the Philippine Embassy/Consulate.

k) Applicant must submit the above original documents and 2 sets of photocopied documents.

After applicant has submitted all documents and paid all fees in the Office, PRA will process the application papers and bring all documents to the Bureau of Immigration. PRA may only process and submit to the Bureau of Immigration the SRRV application if the applicant is here in the Philippines. The processing of the application usually takes 10 to 15 working days.

After the SRR Visa has been stamped on the passport, PRA will request the presence of the retiree-applicant in the PRA Office to take his Oath of Affirmation as a retiree member.

For more information, please visit our website at www.pra.gov.ph.

Thank you.


Very truly yours,


NOEHL D. BAUTISTA
Department Manager, Marketing

TeeJay4103
  4/27/2017 21:08 EST

Conversion of SRRV deposits:

http://www.pra.gov.ph/main/conversion_deposits?page=1

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draks
  4/28/2017 09:15 EST

Very thorough teejay lots of info. I did get in touch with the Philippine Embassy n London and they sent all the information, exactly as on your post.

kenpic
  4/28/2017 11:41 EST

Thank you so much that was very informative and I'll take that under advisement thank you

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