The Special Resident Retiree’s Visa (SRRV) hereinafter referred to as the “Retiree’s Visa”, is a special non-immigrant visa separate and distinct from the existing visa categories defined by the Philippine Immigration Act of 1940.
LOI 1470, as a supplemental statute to E.O. 1037 was passed on July 4, 1985 aimed at:
1. Developing and promoting the Philippines as a preferred retirement haven for former Filipinos and foreign nationals;
2. Attracting foreign exchange; and
3. Directing the issuance of the Special Resident Retiree Visa (SRRV).
The issuance of the SRRV to qualified PRA applicants, entitles the holder to reside in the Philippines for an indefinite period with multiple-entry privileges as long as the required minimum deposit investment subsists. (Sec. 2, Rule II of LOI 1470)
Moreover, the SRRV offers benefits which includes the exemption from the Exit Clearance, Re-Entry and Annual Registration requirements of the Bureau of Immigration, Travel Tax (provided the retiree has not stayed in the Philippines for more than a year from date of last entry) Special Study Permit, importation of household goods/personal effects worth US$7,000 for family use and other value added services.
The SRRV, is characterized by its being indefinite with multiple-entry privileges, partakes the nature of a permanent and/or “lifetime” visa. Thus, guaranteeing the principal retiree and family members the privilege to settle permanently in the Philippines and enjoy the best quality of life in the most attractive package. This is the Authority’s international commitment and is the true meaning of “Smiling at Life” in the Philippines.
SRRV MEMBERS BENEFITS