SSR VISA Options

SSR VISA IN THE PHILIPPINES

The Special Resident Retiree's Visa (SRRV) is a unique visa that allows foreign individuals to establish the Philippines as their second home or investment destination. This special non-immigrant visa provides a wide range of benefits for retirees and investors alike. With the SRRV, foreigners can enjoy the beauty and warmth of the Philippines while also taking advantage of the country's attractive investment opportunities. This visa offers retirees a comfortable and secure lifestyle, with access to healthcare, banking services, and other essential amenities. Additionally, investors can explore the potential of the Philippine market and contribute to the country's economic growth. The SRRV program is designed to attract foreign nationals who are seeking a vibrant and rewarding life in the Philippines, making it an ideal choice for those looking for a new beginning or a fulfilling retirement.

TYPES OF SSRV VISA

1. SMILE- This visa is specifically designed for retirees who are still active and healthy. These individuals choose to keep their SRR Visa deposit of US$20,000.00 in any of the PRA Accredited Banks. By maintaining the deposit, they can demonstrate their commitment to contribute to the local economy and abide by the country's regulations. This visa provides retirees with the flexibility to explore different opportunities and experiences while ensuring their financial security. Whether they wish to pursue their hobbies, engage in volunteer work, or simply relax and enjoy their surroundings, this visa offers them the freedom to live their retirement years to the fullest.

2. SSRV CLASSIC- Retirees who are active and healthy and wish to invest in real estate have the option of choosing the SRRV Classic program. This program allows them to use their SRR visa deposit to either purchase a unit in a condominium or lease a house and lot for a long-term period. For individuals who are 50 years old or above and have a pension, a deposit of $10,000.00 USD is required. The pension should amount to at least $800 USD for single applicants or $1,000 USD for married couples. On the other hand, applicants without a pension need to provide a deposit of $20,000.00 USD. Additionally, the value of the property being considered for purchase or lease should be at least $50,000.00 USD.

3. SSRV HUMAN TOUCH- Retirees who require medical care and are interested in living in the Philippines can apply for an SRRV Human Touch. To be eligible, the applicant must have a minimum monthly pension of $1,500.00 and possess a health insurance policy that is recognized in the country. Additionally, a deposit of $10,000.00 USD is required for the SRR visa. This visa option provides retirees with the opportunity to enjoy quality healthcare services in the Philippines while also benefitting from the country's vibrant culture and warm climate. With the SRRV Human Touch, retirees can have peace of mind knowing that their medical needs will be taken care of, allowing them to fully embrace their retirement years in this beautiful Southeast Asian destination.

4. SSRV COURTESY- This visa is designed for Filipinos who are 50 years old and above. It also applies to foreign nationals who are of the same age range, who have retired from their positions as officers in International Organizations recognized by the Department of Foreign Affairs (DFA). These individuals are eligible to obtain this visa by making a deposit of US$1,500.00 through an SRR Visa application process.

5. SSRV EXPANDED COURTESY- Retired Armed Force officers from countries that have military ties or an agreement with the Philippines can apply for the SRRV Expanded Courtesy. However, to be eligible, they must have a monthly pension of at least $1,000.00 USD and deposit $1,500.00 USD as an SRR visa deposit. It is important to note that the SRR visa deposit must be credited to one of the partner banks of the PRA. There are 7 different institutions accredited by the PRA for this purpose, including the Bank of Commerce, Banco de Oro (BDO), Development Bank of the Philippines (DBP), KEB Hana Bank, Philippine National Bank (PNB), Shinhan Bank, and Union Bank.

   The SRR Visa deposit includes the main applicant and two dependents, who are exempt from paying their own application fee. However, if you have any additional dependents, you will need to pay an extra SRR Visa deposit of US$15,000 for each one. It is important to note that this rule does not apply to former Filipinos. In order for children to be eligible for the program, they must be the legitimate or legally adopted children of the Principal Retiree. Furthermore, they must also be unmarried and below the age of 21 at the time of joining the program.

BENEFITS OF SSRV

An indefinite stay with multiple-entry/exit privileges is granted to individuals who meet the requirements. This includes exemption from the Philippine Bureau of Immigration ACR-I Card (Annual Report) and customs duties & taxes for one time importation of household goods & personal effects worth up to US$7,000.00. Retirees are also exempt from travel tax if they have not stayed in the Philippines for more than 1 year from their last date of entry. Additionally, they have access to the Greet & Assist Program at selected Philippine airports and receive a free subscription to the PRA Newsletter. They can enjoy discount privileges from PRA accredited Merchant Partners and receive free assistance in transacting with other government agencies. Lastly, retirees are entitled to PHILHEALTH benefits & privileges.