The Philippine Retirement Authority (PRA) is a government agency under the Department of Tourism that is mandated to attract foreign nationals and former Filipino citizens to retire, invest and reside in the Philippines. Its core product is the Special Resident Retiree’s Visa (SRRV) which is a non-immigrant, multiple-entry, indefinite-stay visa.
A retiree may opt to choose one SRRV option that may suit heir needs, lifestyle and preferences.
These options are:
1. SRRV SMILE
For active/healthy principal retirees, 35 years old and above, who would just like to maintain their Visa deposit of US$20,000.00 in any of the PRA designated banks;
2. SSRV CLASSIC
For active/healthy principal retirees who would opt to use their Visa deposit of US$10,000.00 for with pension / US$20,000.00 for without pension (50 years old & above) or US$50,000.00 (35 to 49 years old) to purchase condominium units or use for long term lease of house and lot;
3. SSRV HUMAN TOUCH
For ailing principal retirees, 35 years old and above, who are shown to have medical/clinical needs. Under this option, the retiree only needs to have a Visa deposit of US$10,000.00, a monthly pension of at least US$1,500.00 and a Health Insurance Policy; and
4. A) SRRV COURTESY
For former Filipinos (35 years old & above), and foreign nationals (50 years old & above) who have served in the Philippines as diplomats, ambassadors, officers/staff of international organizations. The visa deposit is US$1,500.00.
4. B) EXPANDED SRRV COURTESY
For foreign nationals (50 years old & above) who are retirees of UN, WHO, IMF; recipients of Nobel Prize, Ramon Magsaysay; scientists, physicists & top rated engineers; professors of US, European, Australian, Canadian and Japanese Universities; Peace Corps Volunteers; International philanthropists & other group of individuals. ( Please see complete list under PRA Circular no.12, series of 2013- Expanded Scope of SRRV Courtesy at www.pra.gov.ph )
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