SRRVisa OPTIONS...

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SRRVisa OPTIONS...


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Old 23rd February 2015, 11:30 AM
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Default SRRVisa OPTIONS...

I ran across a great article outlining the various types of SRRV Options, (Special Resident Retiree's Visa), and the specific requirements for each type of retiree Visa as designated by the Philippine Retirement Authority, (PRA). The purpose of these requirements by the Philippine Government is to establish that no foreigner will burden the existing social/economic structure for the community he or she will reside in. I thought this would be very beneficial to many of the Forum Members.



SRRV CLASSIC -

This Visa option is designated for active and healthy principal retiree's aged 50 years or above who can complete at least one of the following financial obligations by purchasing a condominium unit or long term lease of a house and lot.

(1) - invest $10,000.00 US Dollars, (or equivalent), with proof of a monthly pension.
(2) - invest $20,000.00 US Dollars, (or equivalent), without proof of a monthly pension.

-OR-

(3) - if between the ages of 35 and 49, invest $50,000 US Dollars, (or equivalent), towards the purchase of a condominium unit or long term lease of a house and lot.



SRRV SMILE -

This Visa option is designated for active and healthy principal retiree's, 35 years old and above who deposit a minimum of $20,000.00 US Dollars, (or equivalent), into a PRA approved Philippine bank account. You are unable to withdraw or otherwise use this deposit without having your Visa revoked. These deposits will draw the appropriate interest rates offered by the financial institute at the time of the deposit.



SRRV HUMAN TOUCH -

This Visa option is designated for medically ailing principal retiree's, 35 years old and above who are shown to have medical or clinical needs and fulfilling these three obligations: (1) - deposit a minimum of $10,000.00 US Dollars, (or equivalent), into a PRA approved Philippine bank account, interest will apply, (2) - show proof of a pension of at least $1,500.00 US Dollars, (or equivalent), per month, (3) - show proof of a currently existing health insurance policy.



SRRV COURTESY -

For former Filipino's age 35 and above or foreign nationals age 50 and above, who have served in the Philippines as diplomats, ambassadors, officers or staff of international organizations and making a minimum deposit of $1,500.00 US Dollars, (or equivalent).


These are the only four SRRV options currently available from the Philippine Government as of February 1st, 2015. Additional Information is available at PRA: Philippine Retirement Authority for those wishing to pursue these retiree Visa options further.
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Old 23rd February 2015, 11:53 AM
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There is an update on the SRRV COURTESY that is not posted on their web site. Starting last year if you are retired military, you qualify for this type of visa. It costs you about $1400 plus the $1500 and then you are gold. It took a good friend of mine a couple of months to acquire this.

This is the cheapest option out of all of the above.
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Old 23rd February 2015, 10:24 PM
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Originally Posted by jon1 View Post
There is an update on the SRRV COURTESY that is not posted on their web site. Starting last year if you are retired military, you qualify for this type of visa. It costs you about $1400 plus the $1500 and then you are gold. It took a good friend of mine a couple of months to acquire this.

This is the cheapest option out of all of the above.
Please note that you do not have to be RETIRED Military, only to have served in the Military. I am in the process if doing this now and I served from 1956 -1967.

I stated that I am in the process now, but may decide to forgo it as the banking system, as required by the SRRV, puts so many restrictions on how the account is handled that I am not so comfortable with it. I may still decide to abandon this and remain in my Balikbyan status.

Fred
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Last edited by fmartin_gila; 23rd February 2015 at 10:34 PM.
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Old 23rd February 2015, 11:27 PM
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Quote:
Originally Posted by fmartin_gila View Post
Please note that you do not have to be RETIRED Military, only to have served in the Military. I am in the process if doing this now and I served from 1956 -1967.

I stated that I am in the process now, but may decide to forgo it as the banking system, as required by the SRRV, puts so many restrictions on how the account is handled that I am not so comfortable with it. I may still decide to abandon this and remain in my Balikbyan status.

Fred


Hi Fred,

I was planning on doing this also after I finally get settled in. My application, financial and background documentation is complete (I think) except for the medical clearance, which I don't feel will be too hard to complete.

What are these financial restrictions they are placing on you that you are uncomfortable with? I really hate surprises....in PI???? lol. I know they don't explain WHERE the money will be kept very well, so hopefully the deeper i get into the process, the clearer iit will become.

Thanks for taking the lead on this.

JM101
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Old 24th February 2015, 08:38 AM
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I was planning on doing the SRRV for military (also not retired). Since it is only $1,500 I don't care what they do with the money. I just hit 50... but still don't qualify until I get $1,000 a month. Can't wait until I actually retire

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Old 24th February 2015, 09:04 AM
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Quote:
Originally Posted by fmartin_gila View Post
Please note that you do not have to be RETIRED Military, only to have served in the Military. I am in the process if doing this now and I served from 1956 -1967.

I stated that I am in the process now, but may decide to forgo it as the banking system, as required by the SRRV, puts so many restrictions on how the account is handled that I am not so comfortable with it. I may still decide to abandon this and remain in my Balikbyan status.

Fred
If you are on a balikbayan why are you pursuing a SRRV surely a 13a would be more appropriate.

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Old 24th February 2015, 09:30 AM
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SRRV Courtesy is still only "For former Filipino's " correct?

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Old 24th February 2015, 10:10 AM
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SRRV Courtesy is still only "For former Filipino's " correct?
SRRV is for everyone that is on a non filipino passport who is not married to a citizen. If married to a citizen one of the 13 series is more usual.

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Old 24th February 2015, 11:10 AM
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SRRV is for everyone that is on a non filipino passport who is not married to a citizen. If married to a citizen one of the 13 series is more usual.
Interesting, I assume this is new and not yet updated to their website?
"1.) 35 Years Old and above for Former Filipino citizens = US$1,500.00

2.) 50 Years Old and above for Ambassadors / Retired Diplomats who served in the Philippines = US$1,500.00
Is there anywhere this new information is posted that I can read? Appreciate it.

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Old 24th February 2015, 11:48 AM
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Quote:
Originally Posted by Jim151 View Post
Interesting, I assume this is new and not yet updated to their website?
"1.) 35 Years Old and above for Former Filipino citizens = US$1,500.00

2.) 50 Years Old and above for Ambassadors / Retired Diplomats who served in the Philippines = US$1,500.00
Is there anywhere this new information is posted that I can read? Appreciate it.
I don't think 1 is applicable anymore as for the last fews year after the law was changed to allow dual citizenship any former Filipino citizens just reaquire there citizenship and retires as any other citizen. And 2 I don't think applies to many either.

The SRRV is for non-citizens and hasn't changed since its introduction.
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