What are the Requirements for the Special Resident Retirees Visa?
The Special Resident Retiree’s Visa (SRRV) is issued by the Republic of the Philippines. The Bureau of Immigration (BI) issues it when it is endorsed by the Philippine Retirement Authority (PRA). If you wish to apply for the SRRV visa Philippines then you need to fulfill certain conditions.
The Requirements for the SRRV
A person with the SRRV is entitled to reside, work, and invest (with certain conditions) in the Philippines with the right to multiple entries to the country. There is also no need to apply for extensions to the SRRV visa.
The qualification –
To apply for the SRRV, first, you need to confirm to the authorities about your retirement status.
The deposit –
If you are 50 or over and someone earning a pension then you need to make a time deposit of US$ 10,000. You will also need to pay $800 for one applicant. The amount will be $1000 for couples.
If you do not earn a pension then you need to pay a time deposit of US$ 50,000 (for 35-49 age group) and US$ 20,000 (if you are 50 or above). If you are a former citizen of the Philippines and of at least 35 years of age, you will need to pay at least US$ 1500. The amount is irrespective of the depended members mentioned on your application.
If you are a former Ambassador who served in the Philippines and is now retired in the country, you will need to deposit US$ 1500. The same is applicable to former and current employees of international organizations. But the age criterion for these requirements is a minimum of 50 years.
If you are not a former citizen of the country, you will need to follow more guidelines. For the aforementioned deposit amounts, you can bring your spouse and one unmarried child. If you are not moving with your spouse then you are allowed to bring with you, two unmarried children. But the age of the kids in any situation need to be 21 years or less. For additional children (also unmarried and qualifying the age criterion), you will need to pay US$15,000 per child.
The documents –
You will need to fill the application form available at the PRA without any errors. You will need to produce a copy of your valid passport. You will need to submit a Medical Examination Form, which will need to be completed and authenticated by a licensed doctor at your place of residence. The form is authenticated by the Philippines Consulate or Embassy present in that country. Alternatively, you can obtain a medical certificate by a licensed doctor in the Philippines. The forms for the two will be different. You will also need to submit proof of the deposits made by you certified by one of the many banks shortlisted by the PRA.
You will also need clearance from the police. It can be in your current country of residence or in the Philippines. If it is in the former, it will be authenticated by the Philippines Consulate or Embassy present in that country. You will also need to produce a clearance certificate from the National Bureau of Investigation (NBI).
You will also need to produce a marriage certificate if your spouse will be joining you in the Philippines after you receive the SRRV. If you married outside the Philippines then the country’s Consulate or Embassy present in the country will authenticate the certificate.
If your kid/s will be joining you in the country with your SRRV status, you will need to produce their birth certificates. If the children were born outside of the Philippines then the country’s Consulate or Embassy office will authenticate the certificate.
You will need to pay a fee along with your application process.
The process –
The application will be processed once you have submitted all the documents and the relevant fees for the SRRV. It is important that you comply with the necessary steps without any errors for swift processing of your SRRV application.
The government of the Philippines encourages SRRV applications to bring more foreign currency and investments into the country. So, it is actually quite simple to apply for the SRRV.