Fantasizing about spending the rest of your life in a tropical retreat while sipping coconut juice at one of the Philippines’ beautiful islands? It is possible as the country will welcome you with open arms.
Once you are deeply decided to retire in the Philippines, the first thing that you must do is to apply for the Special Resident Retiree’s Visa (SRRV). You can apply for the SRRV if you are an overseas Filipino who was formerly a citizen or a foreigner who wants to settle in the country.
Armed with the SRRV, you are entitled to stay permanently in the country and have multiple-entry privileges. This is issued by the Bureau of Immigration and comes in different options including SRRV SMILE, SRRV CLASSIC, SRRV COURTESY, and SRRV HUMAN TOUCH.
The initial application fee is US$1,400 for the principal applicant and US$300 for each additional individuals such as the spouse and dependents. All the payments and dollar deposits are translated into the United States’ currency. You may convert it into Philippine Peso only after 30 days upon issuance of the SSRV. Let us get started with the mandatory requirements.
1. Completed Philippine Retirement Authority (PRA) application form,
2. Valid Passport (with valid tourist visa in the Philippines)
3. Department of Foreign Affairs (DFA) Medical Examination Form No. 11 or PRA Medical Certificate (RSSC Form No. 002) that is accomplished by a licensed physician in the country,
4. Police Clearance issued overseas or by the National Bureau of Investigation (NBI),
5. 12 pieces of 2″ x 2″ photographs,
6. Certification by the PRA shortlisted bank with the required amount of deposit. For example, the SRRV classic entails:
a. With Pension
The designated time deposit for individuals aged 50 and above is US$10,000 including a pension of US$800 for a single applicant and US$1,000 for a couple.
b. Without Pension
Individuals aged 35 to 49 – US$50,000
Aged 50 and above – US$20,000
Individuals who were former Filipino Citizens – US$1,500
Ambassadors of foreign countries who served in the Philippines – US$1,500
|SRRV Classic with Pension * Certficate of Retirement Benefits, equivalent to at least US$800/month (single applicant) or US$1,000/month (couple). NOTE: Documents obtained / issued outside of the Philippines must be translated into English, if necessary, and authenticated by the Philippine Embassy / Consulate.||Former Filipinos * NSO Birth Certificate or Old Philippine Passport SRRV Courtesy * Certificate of Employment stating position and duration of employment SRRV Expanded Courtesy * Certificate by the concerned agency/organization pertaining his/her achievement * Proof of monthly pension or any other similar benefits of at least US$1,000.00 NOTE: Documents obtained / issued outside of the Philippines must be translated into English, if necessary, and authenticated by the Philippine Embassy / Consulate.||* Medical Certificate showing pre-existing medical condition; * Certificate of Retirement Benefits, equivalent to at least US$1,500; and * Health Insurance Policy acceptable in the Philippines. NOTE: Documents obtained / issued outside of the Philippines must be translated into English, if necessary, and authenticated by the Philippine Embassy / Consulate.|
Source: Philippine Retirement Authority
1. For an applicant whose spouse is joining the program, the Marriage Certificate or Marriage Contract is needed. It can either be solemnized in the Philippines or be duly authenticated by the nearest Philippine Embassy/Consulate.
2. For an applicant whose dependents are joining the program, proof of dependency (e.g., Birth Certificates) and payment of the fees are needed.
Once you get all your requirements sorted, you must know that the processing time takes 7 to 10 working days. The pre-evaluation of your application is made by the PRA.
However, the approval of your application will come from the Bureau of Immigration. Being patient and diligent is necessary when it comes to the application of the SRRV.