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Retirement Visa Best Posts in Thread: Special Resident Retirement Visa (SRRV)

  1. Jack Peterson

    Jack Peterson DI Forum Luminary Highly Rated Poster SC Connoisseur Veteran Air Force

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    There is a Little misconception along the way I feel, If you have been here for more that 6 months you only need a Current NBI Clearance,
    Less than 6 months then yes, you will need a Home Police ( FBI) Clearance :nailbiting: of course YMMV
    We have had much Discussed here on this and maybe one of those going for this Visa will step in :thumbsup:
     
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  2. johncarson

    johncarson DI Member Veteran Army

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    I'm afraid you're right, Dave. I am lucky in that they only have $1,500 deposit from me. It would be so much worse if I had put up $10,000 or $20,000. If they were interested in returning the deposit, they would make it possible through an embassy or consulate. I have written several letters to PRA Cebu, but the response is always this is what you have to do. No concessions if one is incapacitated. I'm afraid if I send them my passport, I may never see it again. Plus all the other extras I must do, it is certainly quite burdensome.
     
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  3. Dave_Hounddriver

    Dave_Hounddriver DI Forum Patron Highly Rated Poster

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    Sorry to hear about your prostate cancer, Johncarson, but thanks for confirming that once they get our money its all but impossible to get it back. So it seems to be more of a fee than a deposit.
     
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  4. johncarson

    johncarson DI Member Veteran Army

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    One thing that hasn’t, I believe, been mentioned in this thread: what if you have to leave the Philippines on short notice for medical or other reasons, and are not able to return? In my case, I was ill with what turned out to be Stage 4 Prostate Cancer for which I am receiving chemo therapy in the US. I will not be able to return to the Philippines. Since I am former military, my SRRV deposit was $1,500. I made the foolish assumption that I could go to the Philippine Consulate with my passport, SRRV id card, and letter of resignation, and that they could process my resignation so that the $1,500 could be returned to me. At the PH Consulate in LA, they had no idea what to do with my request, so they provided me with several worthless forms which I had delivered to PRA in Cebu. The bottom line is this: in order to complete the resignation, I must send my passport to PRA Cebu. They supposedly will submit it to Immigration for invalidation. I must designate an “attorney-in-fact” to retrieve my passport from the Cebu office and mail it back to me in the States. There is another requirement, that I must appear at a PRA office to personally sign my Exit Interview. If I were deceased, perhaps a family member could cut off a finger or toe, and send that to PRA. Sending my body there would be a costly and stinky process. In short, it is far easier to obtain an SRRVisa than it is to resign from it. I suppose I will send them my passport, and request a waiver on the Exit Interview, but it is a shame that a Philippine Consulate cannot handle this. If you are a holder of an SRRV and find you must leave the country, try by all means to stop by a PRA office on your way out. Below are the requirements for resignation the Cebu PRA office provided:

    1) LETTER OF INTENT (state the reason for cancellation) & BANK INSTRUCTION (must be US Dollar account abroad) with the following details: Account Name, Account Number, Bank Name, Bank Branch, Bank Address, & Swift Code.


    2) Affidavit of QUITCLAIM - NOTARIZED BY LAWYER (If done abroad, must be AUTHENTICATED by PH Embassy)



    3) EXIT INTERVIEW Form (duly accomplished) - must be signed PERSONALLY at any PRA Office, if not possible, write a letter-justification


    4) PRA I.D. cards - including members of the family, if any


    5) Original PASSPORT/S where the SRR Visa is stamped (if Passport where SRR Visa was stamped is already expired, current valid Passport will be needed even if the SRR Visa is not stamped in the said Passport), including members of the family who are likewise issued the SRR Visa


    6) FEES (for each member): PLEASE DEPOSIT YOUR PAYMENT TO LBP MAIN BRANCH CEBU CITY

    a) P500.00 - Immigration Express Lane/Cancellation fee

    b) P3,510.00 - 59 day Tourist Visa/Downgrading to Tourist Visa - ONLY IF RETIREE IS IN THE PH


    c) US$10.00 - PRA Cancellation Service Fee

    d) US$10.00 - PRA Downgrading Service Fee - ONLY IF RETIREE IS IN THE PH


    e) Php150.00 - Courier Fee (only if the retiree is in the Philippines);
    If not practical for the retiree to come at PRA Office, additional documents required for representative/agent to submit:
    a) Notarized Special Power of Attorney executed by the retiree (In case SPA was executed abroad, it must be authenticated by the Philippine Embassy/Consulate).
    b) Three (3) pieces of photo ID of representative/agent
    c) Two (2) passport photos of representative/agent
     
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    Last edited: Nov 3, 2016
  5. BobBski

    BobBski DI Member Showcase Reviewer

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    This is the one I'll be applying for....was very glad to learn about it. :smile:
     
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  6. AlwaysRt

    AlwaysRt DI Forum Patron Highly Rated Poster Blood Donor Veteran Air Force Marines

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    It is pretty obvious - for those familiar with the fact SRRV is not one but four similar Visas. A new person reading that blanket statement may then never bother to look at or know exactly what his options are. There is not one Visa that is a bad idea for Everyone, just like there is no Visa that is best for Everyone. Different backgrounds, different current circumstances, and living in different locations with different access to BI offices makes it a personal decision for everyone.
     
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  7. Edward K

    Edward K DI Senior Member Veteran Navy

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    Sorry, SilverBullet, but i don't feel the SRRV is useless. I NEVER have to go to an Immigration office again, the PRA in Cebu will renew once a year by email (chatted with Jacquie at PRA two days ago in cebu).... I got my bank account with the SRRV card, get senior discounts at most places without the city document, it suffices EVERYWHERE as gummint ID, is one of two ID's needed to get an S&R membership, and costs the least, since i'm ex-Navy (kept the dd214). Exempt from taxes, exempt from exit visas, whatever that crap is. I know there are other advantages, but i'd have to dig too deep in the PRA website. If that's useless, sorry but what the hell is useful, other than having a FIRST cousin on Duterte's staff.
     
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  8. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    You should take a look at this thread for first hand experience. The OP hasn't arrived yet but there is still a lot of good information on there. Not sure if you are retired military or not but most of the process will be the same.
    COURTESY SRRV FOR VETERANS (US VETS AND OTHERS) | Dumaguete Info
     
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  9. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    Forgot one. There is an SSRV for military folks as well. This falls under the "Courtesy SRRV" above and is NOT covered on the PFA Website (at least none of the pages that I linked).

    For this visa you must be 50 years old, served in the Military, have a DD 214 / retired military ID and have a pension (or disability check) greater than $1,000 (USD). Note: You do NOT have to be retired from the military to get this visa. You just need to have served honorably and meet the financial requirements.

    The Visa Bank Deposit is $1,500 and the application fee is $1,400.

    To learn more about this program you can contact the PRA at cebu_pra@yahoo.com (isn't it reassuring when government agencies have yahoo and gmail accounts :wink: ).

    You can find the PRA contact information for their other field offices here.

    There is no mention on their website that I can find about this program for some reason but I did personally go to a PRA meeting up in Subic a year or so ago to learn about this visa when I was up there for a visit. (I walked out half way in when I heard the age requirement was 50.)
     
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  10. Rye83

    Rye83 with pastrami Admin Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    Special Resident Retirement Visa (SRRV)

    The SRRV is a retirement visa for foreign nationals.

    Benefits:
    Option to Retire Permanently
    • You may live, work and study in the Philippines

    Multiple Entry Privileges
    • You may travel outside the Philippines and re-enter anytime

    Exemptions from:
    • Income tax over your pension and annuities
    • Exit and re-entry permits of the Bureau of Immigration
    • Annual registration requirement of the Bureau of Immigration
    • Customs Duties and Taxes with regard to the importation of household goods and personal effects up to US$7,000.00
    • Travel tax, if you stay in the Philippines is less than one year from the last entry date
    • I-Card

    As an SRR Visa holder, the PRA can assist you in obtaining basic documents from other government agencies. These include, but are not limited to:
    • Alien Employment Permit
    • Driver's License
    • Tax Exemption/Extension Certificate
    • Tax Identification Number
    • National Bureau of Investigation (NBI) Clearance


    There are 4 options for the SRRV:
    1. SRRV Smile
    2. SRRV Classic
    3. SRRV Courtesy/Expanded Courtesy
    4. SRRV Human Touch

    1. SRRV Smile:
    For active and healthy retirees.
    • Age requirements - 35 years old and above.
    • Visa Bank Deposit - $20,000 (USD)
    • Convertibility of Visa Deposit: Must be maintained with the PRA Designated/Accredited Bank and may only be withdrawn upon cancellation of the SRRV or to satisfy end of terms needs or catastrophic obligations.

    2. SRRV Classic:
    For active and healthy retirees.
    • Age requirements - 35 years old and above.
    • Visa Bank Deposit:
      • Ages 35 - 49 years old: $50,000 (USD)
      • Ages 50 and above:
        • With Pension: $10,000 (USD)
        • Without Pension: $20,000 (USD)
    • Convertibility of Visa Deposit:
      • May be used for investment/s in RFO Real Estate Properties.
      • Investment value must be at least US$50,000.00
    • Additional Documentary Requirements:
      • Certficate of Retirement Benefits, equivalent to at least US$800/month (single applicant) or US$1,000/month (couple).
      • Documents obtained / issued outside of the Philippines must be translated into English, if necessary, and authenticated by the Philippine Embassy / Consulate.
    3. SRRV Courtesy / Expanded Courtesy:
    This Visa is for Former Filipinos and Diplomats. You can read more about this one at the PRA website if it applies to you.

    4. SRRV Human Touch:

    For ailing retirees.
    • Age requirements: 35 years old and above.
    • Visa Bank Deposit: $10,000 (USD)
    • Convertibility of Visa Deposit: Must be maintained with the PRA Designated/Accredited Bank and may only be withdrawn upon cancellation of the SRRV or to satisfy end of terms needs or catastrophic obligations.
    • Additional Documentary Requirements:
      • 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.
      • Documents obtained / issued outside of the Philippines must be translated into English, if necessary, and authenticated by the Philippine Embassy / Consulate.
    Cost: Application fee of $1,400 (USD) with the PRA. (This is not part of the Bank deposits/investments that need to be made to qualify.)

    To Apply: PRA Online Application.

    For more information please visit PFA Website .
     
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