What information you need to know about retirees?

SPECIAL RESIDENT RETIREE’S VISA

(SRRV)

QUESTION: What is S.R.R.V.?

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- S.R.R.V. is the antonym of Special Resident Retiree’s Visa

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QUESTION: What is S.R.R.V. for?

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- Option to retire permanently. This means, retiree may live, work, and study in the Philippines like a Philippine citizen

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- Multiple Entry Privileges. This means retiree may travel outside the Philippines and re-enter anytime

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Exemption from:- Income tax over your pension and

annuities;- Exit and re-entry permits of the

Bureau of Immigration;- Annual registration requirements

of Bureau of Immigration

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Exemption from:- Customs Duties and Taxes with

regard to the importation of household goods and personal effects up to US$7,000.00;

- Travel tax, if stay in the Philippines is less than one year from the last entry date;

- I-Card

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- PRA can assist you in obtaining basic documents from other government agencies like:

DOLE – Alien Employment Permit LTO – Driver’s License DOF – Tax Exemption / Extension

Certificate NBI - Clearance

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QUESTION: How will a retiree enroll?

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A retiree who applies for a (SRRV) has the option to enroll to the program based from his retirement status.

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STATUS #1: w/ Pension AGE: 50 yrs. old & upTIME DEPOSIT: US$ 10,000.00 MONTHLY PENSION: US$ 800.00 (single applicant) and US$ 1,000.00 (couple)

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STATUS #2: w/o PensionAGE: 35 to 49 yrs. old TIME DEPOSIT: US$ 50,000.00MONTHLY PENSION: none

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STATUS #2: w/o PensionAGE: 50 yrs. old and aboveTIME DEPOSIT: US$ 20,000.00MONTHLY PENSION: none

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STATUS #2: w/o Pension and Former Filipino CitizensAGE: at least 35 yrs. oldTIME DEPOSIT: US$ 1,500.00MONTHLY PENSION: none

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STATUS #2: w/o Pension and Ambassadors of foreign countries who served and retired in the Philippines, current and former staff members of international organizations including ADBTIME DEPOSIT: US$ 1,500.00MONTHLY PENSION: none

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STATUS #3: Resident retiree can bring with him, without additional deposit, his spouse and a child who is unmarried and below 21 yrs. old or if the spouse is not joining, two (2) children (provided they are unmarried and under 21 yrs. of age)

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STATUS #3: Resident retiree can bring with him additional children with the same qualifications may also be allowed to join the principal retiree provided there is an additional deposit of US$ 15,000.00 per child. The said time deposit however, is subject the same and conditions with that of the principal deposit. This does not apply to former Filipino Citizens.

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NOTE: The PRA Accredited banks agree to accept any acceptable foreign currency equivalent to the requisite amount for deposit in the accounts, provided that it shall be credited to the account as the United States Dollars or Philippine Pesos equivalent.

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QUESTION: Who are eligible to avail?

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- At least 35 yrs. Old- Without criminal record- Meeting medical standards- Meeting the investment

requirement

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QUESTION: Where will the retiree avail?

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- Personally appear at the PRA office located at the 29th floor Citibank Tower, Paseo de Roxas, Makati City

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QUESTION: What are the requirements?

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1. Principal Retiree Applicant2. Spouse3. Dependent/s

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QUESTION: What is the Principal Retiree Applicant?

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1. Duly accomplished SRRV Application Form2. Original Passport with Valid Entry Visa3. Medical Examination Clearance4. Police Clearance (from country of origin)5. NBI Clearance6. 12 pcs. – 2x2 ID Pictures7. Additional Proof of Relationship for joining

Spouse / Child8. Bank Certificate of Time Deposit Inwardly

Remitted to any PRA Accredited Banks

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QUESTION: How much are the Application Fees?

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1. US$ 1,400.00 for the principal2. US$ 300.00 for each Spouse /

Child

NOTE: One-time payment only

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QUESTION: What is the Monetary Obligations of the

retiree?

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1. US$ 360.00 PRA Annual Fee upon enrolment and every year thereafter (inclusive of principal, and two dependents)

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2. US$ 100.00 for each dependent in excess of two

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QUESTION: Where will the retiree deposit his

obligations?

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Development Bank of the Philippines (DBP)

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“Think BIG about what you want to achieve.

Think SMALL about how to achieve it.”

- SUN TZU, Strategies for Marketing

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