The Special Resident Retiree’s Visa (SRRV) is a special non-immigrant visa separate and distinct from the existing visa categories defined by the Philippine Immigration Act of 1940, as amended, and allied laws. (Sec. 1, Rule II of LOI 1470).
The issuance of the SRRV to qualified PRA applicants, entitles the holder to reside in the Philippines for an indefinite period with multiple-entry privileges as long as the required minimum deposit investment subsists. (Sec. 2, Rule II of LOI 1470).
Moreover, the SRRV offers benefits which includes the exemption from the Exit Clearance, Re-Entry and Annual Registration requirements of the Bureau of Immigration, Travel Tax (provided the retiree has not stayed in the Philippines for more than a year from date of last entry) Special Study Permit, importation of household goods/personal effects worth US$7,000 for family use and other value added services.
Option to Reside Permanently – may live, retire and invest in the Philippines.
Multiple Entry Privileges – may travel outside the Philippines, and re-enter anytime.
Exit clearance and re-entry permits of the Bureau of Immigration.
Annual registration requirement of the Bureau of Immigration.
Customs Duties and Taxes for the importation of personal effects and household goods up to US$7,000.00.
Travel tax, if stay in the Philippines is less than one year from the last entry date.
Special Study Permit.
Assistance in securing/obtaining documents from other Government Agencies such as:
Department of Labor & Employment (DOLE)- Alien Employment Permit
Land and Transportation Office (LTO) – Driver’s License
National Bureau of Investigation (NBI)
Department of Foreign Affairs (DOF)- Tax Exemption/ Extension Certificate
Bureau of Internal Revenue (BIR) – Tax Identification Number
Tax-Free remittance of Annuities and Pensions
Guaranteed Repatriation of the Requisite Time Deposit