The PRA is mandated to develop and promote the Philippines as a retirement haven and as a means of accelerating the social and economic development of the country. The SRRV program provides an attractive quality of life package to targeted retirees whilst at the same time strengthening the Philippines foreign exchange position.
COVID-19 SRRV Monitoring System:
Travel Pass/Entry Exemption for existing SRRV holders
Vision
To make the Philippines the preferred retirement destination in Southeast Asia by 2022.
Mission
To provide a globally competitive retirement program in the Philippines for foreign nationals and former Filipinos that will strengthen the socio-economic development of the country.
Core Values
In pursuit of the PRA’s Vision and Mission, the employees of the Philippine Retirement Authority bind themselves to develop and shape their actions in accordance with the following core values:
Execution
- Service Excellence
- Innovation
- Teamwork
- Integrity
- Discipline
- Good Governance
- Social Responsibility
1. What Is It?
The Special Resident Retiree’s Visa (SRRV) is a special non-immigrant visa for foreign nationals who would like to make the Philippines their second home or investment destination.
2. Benefits
Indefinite stay with multiple-entry/exit privileges
Exemption from:
• Philippine Bureau of Immigration ACR-I Card (Annual Report)
• Customs duties & taxes for one time importation of household goods & personal effects worth up to US$7,000.00 Tax from pensions & annuities
• Travel Tax, if retiree has not stayed in the Philippines for more than 1 year from last date of entry
• Student Visa/Study Permit
Access to the Greet & Assist Program at selected Philippine airports
Free subscription to the PRA Newsletter
Discount privileges from PRA accredited Merchant Partners
Free assistance in transacting with other government agencies
Entitlement to PHILHEALTH benefits & privileges.
3. Options
For active/healthy retirees, who opt to maintain their SRRV deposit of US$20,000.00 in any of the PRA Accredited Banks.
For active/healthy retirees, who opt to use their SRRV deposit into active investment such as the purchase of condominium unit* or long term lease of house & lot. The SRRV deposit is as follows:
50 years old & above:
US$ 10,000.00 (with a pension)**
US$ 20,000.00 (without pension)
*The value of the property must at least be US$50,000.00
**Required pension of at least US$ 800 for single / US$1,000 for couple
For ailing retirees, 50 years old & above, who need/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.
For former Filipinos, 50 years old & above. For foreign nationals, 50 years old & above, who are retired officers of International Organizations recognized by the Department of Foreign Affairs (DFA). An SRRV deposit of US$1,500.00 is required.
For foreign nationals, 50 years old & above, who are 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 an additional SRR Visa 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.
4. Do you qualify?
PRINCIPAL APPLICANTS Must be foreign nationals (expats) or former Filipino citizens who are at least 50 years old. DEPENDENT SPOUSE must be legally married to the Principal Applicant. CHILDREN must be legitimate or legally adopted by the Principal Applicant, unmarried and below 21 years old upon joining the program.
Basic Requirements
- Original valid Passport with valid /updated Temporary Visitor’s Visa
- Completed PRA Application Form
- Original valid Medical Clearance
- Original valid Police Clearance from country of origin, and an additional NBI Clearance, if applicant has stayed in the Philippines for over 30 days from last date of entry
- Photos (8 pieces, 2″x2″)
- SRRV deposit that is inwardly remitted
- Marriage Certificate for joining dependent spouse
- Birth Certificate for joining dependent-child.
Fees
Processing/Service (one-time payment)
US$1,400.00 Principal applicant
US$ 300.00 Dependent applicant
Annual Fee
US$360.00 (for the Principal & 2 dependents)
NOTE! As of August 2023 the Annual Fee can be paid up to 2 years in advance to reduce admin/PRA office visits. Please Read: 3 Easy steps to renew your SRRV
Noteworthy
Additional requirements may be requested depending on the SRRV Visa Option to be chosen by the SRRV applicant. The Medical and Police Clearances are valid up to 6 months from date of issuance. All documents issued outside of the Philippines must be translated in English (if necessary) and authenticated by the Philippine Embassy/Consular Office nearest the applicant’s residence.
5. Accredited PRA banks
Bank of Commerce
Contact Person: Mr. Peter M. Co
Contact Number: +632-8-840-3261
+632-8-982-6000 loc.7801
Accredited Branches: ALL
BDO Unibank Inc.
Contact Person: Kimberly Inumerable
Theresa Capati
Contact Number: +63-2-811-5938
+63-2-811-5937
+63-2-811-5939
Accredited Branches:
PACIFIC STAR – MAKATI
G/F Pacific Star Bldg.,
Sen. Gil Puyat Avenue cor. Makati Avenue
Makati City
CEBU – ASIATOWN IT PARK
G/F TGU Tower,
Salinas Drive cor. J.M. Del Mar St.,
Asiatown IT Park, Apas,
Cebu City
Development Bank of the Philippines
Intermediary/Correspondent Bank Option 1:
JP Morgan Chase Bank, NY
Swift Code: CHASUS33
Intermediary/Correspondent Bank Option 2:
Citibank NA, NY
Swift Code: CITIUS33
Beneficiary Bank and Address: Development Bank of the Philippines
Makati Ave., corner Sen. Gil Puyat Ave.,
Makati City, Philippines
Swift Address: DBPHPHMM
Beneficiary Name and Address: Philippine Retirement Authority
29th Floor, Citibank Tower, 8741 Paseo de Roxas,
Makati City, Philippines
Account No. : 0405-027438-100
Remittance Purpose: PRA SRRV Deposit of (FULL NAME OF RETIREE-as shown on passport bio-page and DATE OF BIRTH)
*Include at least US$50 to cover bank charges. Any amount received in excess of the required visa deposit shall be credited to the retiree-applicant’s account.
KEB Hana Bank (Formerly Korea Exchange Bank)
Contact Person: Ms. Cres Agbisit
Contact Number: 848-1988 loc 102
Philippine National Bank
Contact Person: Ms. Sheena Pascual
Contact Number: +63-2-816-3311 loc 3358
Accredited Branches: ALL
Shinhan Bank
Contact Person: Josefino A. Velasco
Contact Number: 8405-6330
Union Bank
Contact Person: Mr. Jeff Bartoloso
Contact Number: +63-2-667-6388 loc. 8670
Accredited Branches: ALL
6. PRA Merchant Partners
Recommended Reading:
SRRV holders are NOT permitted to work in the Philippines
