SRRV is a special multiple entry visa program of the Philippine government that grants foreigners and former Filipinos non-immigrant permanent resident status and vests them the privilege to own real estate properties or proprietary golf shares, put up and conduct business, work, study and reside permanently anywhere in the Philippines.

The Philippine Retirement Authority, created by Executive Order 1037 on 04 July 1985, is a government owned and controlled corporation that processes applications for Special Resident Retiree's Visa (SRRV) issued by the Bureau of Immigration. The Philippine Retirement Authority guarantees that the SRRV can be issued after five (5) working days from the date the complete documents and requirements are submitted.

I. BENEFITS

Once you become a member of the Program or a holder of the Special Resident Retiree's Visa (SRRV), you will enjoy the following perks and privileges:

6. Foreign currency time deposit in the name of the SRRV holder can be converted to Philippine peso deposit and earns interest credit to the holder subject to withholding tax;
7. Pension and annuities remitted to the Philippines are tax-free;
8. Guaranteed repatriation of the requisite deposit, including invested profits, capital gains and dividends accrued from investments upon compliance with Bangko Sentral (Central bank of the Philippines) rules and regulations;
9. Holders of SRRV are exempted from getting the Student's Visa/Special Study Permit;
10. Former Filipinos have the option under the Foreign Investments Act (RA 8179) to acquire lands limited to 5,000 square meters in urban areas or not more than three (3) hectares in agricultural areas for business or residential purposes.

II. DEPOSIT REQUIREMENTS

Principal applicants are required to open a US dollar time deposit for a term of at least six months at any of the four (4) PRA authorized bank in the Philippines: Equitable PCI-Bank, Bank of Commerce, Chintrust Banking and Metrobank. The bank deposit may be withdrawn after six months and converted into active investment.
Bank Deposit
1) Principal Applicant
1.a) Former Filipino 35 years old and above : US$1,500.00
1.b.)Foreign national
1.b.1. Age 50 and above : US$50,000.00
1.b.2 Age 35 - 49 : US$75,000.00
2) Foreign National married to former filipino and dependents below 21 yrs old joining the principal applicant : None

III. FEES

The following fees should be paid at the office of the Philippine Retirement Authority or can be deposited directly to its Land Bank of the Philippines US $ and Peso bank accounts:
ONE TIME FEES:

PROCESSING FEE
1) Principal Applicant
1.a) Former Filipino 35 years old and above : US$1,300.00
1.b.)Foreign national
1.b.1. Age 50 and above : US$ 1,300.00
1.b.2 Age 35 - 49 : US$ 1,800.00
2) Foreign National married to former filipino and dependents below 21 yrs old joining the principal applicant : None

SERVICE FEE
1) Principal Applicant
1.a) Former Filipino 35 years old and above: US$ 200.00
1.b.)Foreign national
1.b.1. Age 50 and above : US$ 200.00
1.b.2 Age 35 - 49 : US$ 200.00
2) Foreign National married to former filipino and dependents below 21 yrs old joining the principal applicant : US$ 100.00

BUREAU OF IMMIGRATION CONVERSION FEE
1) Principal Applicant
1.a) Former Filipino 35 years old and above : None
1.b.)Foreign national
1.b.1. Age 50 and above : None
1.b.2 Age 35 - 49 : None
2) Foreign National married to former filipino and dependents below 21 yrs old joining the principal applicant : US$ 7,600.00

BUREAU OF IMMIGRATION EXPRESS FEE
1) Principal Applicant
1.a) Former Filipino 35 years old and above : PhP 500.00
1.b.)Foreign national
1.b.1. Age 50 and above : PhP 500.00
1.b.2 Age 35 - 49 : PhP 500.00
2) Foreign National married to former filipino and dependents below 21 yrs old joining the principal applicant : PhP 500.00

PRA I.D.
1) Principal Applicant
1.a) Former Filipino 35 years old and above : PhP 250.00
1.b.)Foreign national
1.b.1. Age 50 and above : PhP 250.00
1.b.2 Age 35 - 49 : PhP 250.00
2) Foreign National married to former filipino and dependents below 21 yrs old joining the principal applicant : PhP 250.00

TOTAL FEE
3) Principal Applicant
1.a) Former Filipino 35 years old and above
US$1,500.00 (PhP750.00)
1.b.)Foreign national
1.b.1. Age 50 and above
US$1,500.00 (PhP750.00)
1.b.2 Age 35 - 49
US$2,000.00 (PhP750.00)
4) Foreign National married to former filipino and dependents below 21 yrs old joining the principal applicant
US$100.00 (PhP350.00)
If the Special Resident Retiree's Visa is issued by the Philippine Embassy/Consulate abroad, the applicant, his spouse and dependants shall pay the required visa fee.

ANNUAL FEES:
1. Visitorial fee of one-half percent (0.5%) per annum of the Philippine Peso equivalent of the deposit converted to actual investment;

IV. QUALIFICATIONS AND REQUIREMENTS
QUALIFICATIONS: Citizenship and Age

1. All foreign nationals (except those from countries with no diplomatic ties to the Philippines or are classified as Restricted by the Department of Foreign Affairs);
2. Former Filipinos who are how holders of foreign passports;
3. Provided they are at least 35 years old.

DOCUMENTS:
The Special Resident Retiree's Visa will be issued after five (5) working days upon submission of the following:
1. Accomplished PRA Retirement Program Application Form;
2. Original valid passport;
3. Department of Foreign Affairs Medical Examination Form #1 accomplished by a licensed physician abroad, duly authenticated by the Philippine Embassy/Consulate if the applicant is outside the Philippines or PRA Medical Certificate (RRSC Form # 002) accomplished by a licensed physician in the Philippines;
4. Certification by PRA short listed bank of the requirement deposit of US$ 50,000.00 or USA$ 75,000.00 or US$1,500.00 whichever is applicable;
5. Police clearance issued abroad duly authenticated by the Philippine Embassy/Consulate if the applicant is outside of the Philippines or the National Bureau of Investigation (NBI) Clearance issued in the Philippines;
6. 1" x 1" and 2" x 2" colored photographs (6 pieces each size);
7. If the spouse is joining the applicant, Original Certificate or Marriage Contract duly authenticated by the Philippine Embassy/Consulate nearest the applicant's residence if marriage was contracted abroad. If applicant's marriage was solemnized in the Philippines, original copy of the Marriage Certificate issued by the civil registrar;
8. If dependents are joining the applicant, original copy of Birth Certificate of dependents born in the Philippines or Birth certificates duly authenticated by the Philippine embassy/consulate nearest the applicant's residence abroad. Only dependents below 21 years old are eligible to join the program.

PROPERTIES
OUTSIDE BOHOL

BORACAY island properties

TAGAYTAY
sub-division lot