Guzman Tañedo & Acain - Philippine Immigration Lawyers

Primary Contact

316 Mile Long Building

Amorsolo Street

Legaspi Village

Makati City

1200 Philippines

Telephone: (632) 8941441

TeleFax: (632) 8124296

e-mail: gtalaw@gtalawphil.com

Office Hours

9:30AM to 5:30PM PH Time

Monday - Friday

www.gtalawphil.com

Special Retirees Resident Visa (SRRV)

Overview of Our Services

Our Firm evaluates and, if complete, endorses the application to the Philippine Retirement Authority for the issuance of the visa. We will also help the applicant complete and/or prepare the documentary requirements if necessary.

What is the SRRV?

The Special Resident Retiree's Visa (SRRV) is issued by the Bureau of Immigration (BI) of the Republic of the Philippines under the Retirement Program of the Philippine Retirement Authority (PRA) to foreigners and overseas Filipinos. It entitles the holder to multiple-entry privileges with the right to stay permanently/indefinitely in the Philippines.

Who may apply?

A. Citizenship

1. Any foreign national, except those nationals of countries with which the Philippines does not have diplomatic relations and those nationals considered restricted by the Department of Department of Foreign Affairs (DFA).
2. Overseas Filipinos who are immigrants or under a visa category allowing them legal stay abroad and have resided therein continuously for at least seven (7) years, prior to their application for enrolment in the Program and should not have stayed a maximum total of sixty (60) days in a year in the Philippines.

B. Age/Deposit Requirements

All foreign nationals below 50 and at least 35 years of age are required to deposit the amount of US$75,000.00 dollars with any PRA short-listed bank. Those aged 50 and above are required to deposit the amount of US 50,000 dollars. Former Filipinos who are now holders of foreign passports are required to deposit US 1,500.00 dollars; the deposit amount of US50,000.00 shall be required from an applicant who is at least 35 years of age and belongs to any of the following:

1. Retired military personnel of governments recognized by the Philippines; or

2. Former members of foreign diplomatic corps who have served for at least three (3) years in their respective posts, or

3. Retired officer and employees of international organizations such as the United Nations and its affiliate agencies, the World Health Organization, World Bank, International

Labor Organization and other similar organizations.

Benefits of SRRV

1. Permanent non-immigrant status with multiple-entry privileges through the Special Resident Retiree's Visa;

2. Exemption from customs duties and taxes for the importation of personal effects;

3. Exemption from Exit Clearance and Re-entry Permits;

4. Exemption from payment of travel tax provided the retiree has not stayed in the Philippines for more than one year from date of his last entry into the country;

5. Conversion of the requisite deposit into active investments, including purchase of condominium unit;

6. Interest on the foreign currency deposit is tax-free and payable to retiree in Philippine Pesos;

7. Foreign currency time deposit can be converted into Philippine Pesos deposit, but interest is subject to withholding tax;

8. Pension, annuities remitted to the Philippines are tax-free; and

9. Guaranteed repatriation of the requisites deposit including invested profits, capital gains and dividends accrued from investments, upon compliance with Bangko Sentral rules and regulations.

Contac Us

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Guzman Tañedo & Acain

Alexander Llanes Acain, Jr.

Immigration Litigation Head

Telephone: 8941441

TeleFax: 8124296

alexacain@gtalawphil.com