Factors to Consider When Looking for Retirement Visa in the Philippines

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SRRV (Special Resident Retiree’s Visa)

Just because of the geographical peculiarities and the lower cost of living, many people decide to spend their retired life in the Philippines. Taking into account this existing scenario, the immigration department of the country has constituted a program, which they have named as the SRRV. Foreign nationals and Filipinos working abroad can apply for the Retirement Visa Philippines.

The main purpose of this arrangement is to pay the way for the arrival of foreigners and the Filipinos who live outside the country. By utilizing this method, such persons can live in the country and also can buy properties as an investment. Entitled individuals can stay in the country either permanently or for an indefinite period.

The privileges include multiple-entry and exit and the legal entitlement to live in the country. Apart from these, SRRV holders will be entitled to get PhilHealth benefits and related rights. To attract more individual retirees, the Philippine government has given more concessions. Such persons who opt for this visa can enjoy exemption from the exit clearance, annual registration, re-entry, travel tax, etc. Besides, they will be allowed to carry household goods worth US$7,000/- for individual use. There will not be any need for the SSP (Special Study Permit) for the dependent children.

Factors to Consider When Looking for Retirement Visa in the Philippines

  • The main criterion is that the applicant must be a foreign national, who wishes to invest in Philippines property for retirement settling or as an investment option.
  • The applicant for the Retirement Visa Philippines can be either a foreigner or an ex-Filipino citizen who would like to return to the country.
  • He or she must be 35 years and above.
  • If married, the partner must be a legally recognized partner to the applicant.
  • As far as the children are concerned, the applicant must have legally adopted them and must not have reached 21 years of age.
  • The Retirement Visa Philippines applicant must deposit a fixed amount in one of the PRA- approved bank in the country. The method of depositing must be inward remittance. The presently required amount is US$1,400/- for the applicant and US$300/- for the individual dependant. Apart from this, there will be an annual fee, which will come to US$360/- for the applicant and two dependants.
  • There are some primary documents which the applicant will have to produce while applying. These include.
  • Legal Passport, which is stamped with a temporary visa.
  • Official PRS application.
  • Medical clearance certificate
  • The applicant must also produce a clearance certificate from the police department of the country, from where the applicant comes.
  • There is also the need of NBI (National Bureau of Investigation) certificate, in case the applicant is in the Philippines for more than 30 days from the entry date.
  • The applicant must include 12 (2”x2” sized) photos.
  • The required caution deposit (inwardly deposited).
  • One time processing fee.
  • Marriage certificate in case of married applicants.
  • Birth certificate of children.

You must be aware that the validity of both the medical and police clearance certificates will expire within a few months. The expiry date is six months from the issue date. If the original certificate is in any other languages, the applicant must have translated those into English with the proper attestation from the Embassy of Philippines or consular office, whichever is nearest to the residence of the applicant.

Pick a Professional Agency for Retirement Visa Philippines

It will be practically advantageous for you to seek the professional assistance of an agency that is well experienced and knows the ways to make things easier for you. There will be a lot of paperwork to do; these documents must be clear and precise. You must make sure that the agency that you approach to get the Retirement Visa Philippines operates both in the Philippines and USA. This arrangement will make the process of procuring the visa easy and swift. However, you must also ensure that the provided services are supreme, and the price is not inflated. You can peruse the testimonials provided by the existing customers to assess the professional competence and the ethics of the company.

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