Megaworld Makati Offers Special Resident Retirement Visa (SRRV) Assistance

Special Resident Retirement Visa (SRRV) is a privilege granted to foreigners who would like to have a permanent resident status in the Philippines. For investing in the Philippines, foreigners can enter and leave the country as many times and as long as one wishes, including family members. With a Special Resident Visa, a holder can live, do business, study in the Philippines indefinitely.

The Special Resident Retiree’s Visa (“SRRV”) is a visa issued by the Bureau of Immigration through the Philippine Retirement Authority (“PRA”). The SRRV is a special non-immigrant visa that provides its holders with multiple-entry privileges and indefinite stay in the Philippines and is especially designed for those who wish to live in the Philippines on an extended or permanent basis.

It is valid for so long as the visa holder remains a member of good standing of the Program AND provided his investment exists in the Philippines unless visa is being cancelled. Any Foreigner with entry visa issued by the Philippine Embassy who is at least 35 years old or former Filipino citizens who are now holders of foreign passports and at least 35 years old are eligible to apply for the SRRV. However, it must be noted that the SRRV requires a specific investment in the Philippines, real estate investment will be applicable provided that the property is accredited with the PRA.

What are the benefits of the Special Resident Retirement Visa?

A foreigner who holds a SRRV is entitled to reside permanently in the Philippines. In addition, he shall enjoy the following benefits.

1. Multiple entry privileges. 2. Exemption from the Exit Clearance and Re-Entry requirements of the Bureau of Immigration (BI). 3. Exemption from Travel Tax, provided the SRRV holder has not stayed in the Philippines for more than a year from date of last entry. 4. Tax-free importation of household goods/personal effects worth US$7,000.00. 5. Privilege to study in the Philippines. 6. Privilege to work in the Philippines upon issuance of the Alien Employment Permit. 7. Tax from pension and annuities. 8. Return ticket.

And to qualify for the SRR Visa an applicant must be:

* 35 years old and above * Of good standing and no criminal record * Submit the required documents * Comply the US Dollar Visa Depository requirement

Note: Please be informed that the money should be deposited to the authorized and accredited bank only like Development bank of the Philippines and the money must come from other country or country of origin to be deposited via wire transfer. Philippine Retirement Authority will not honor and accept if the money is coming from the Philippines.

Requirements for Special Resident Retirement Visa

Principal Applicant: -Application Form -Passport with valid entry to the Philippines -National Bureau of Investigation (NBI) Clearance or Police Clearance (to be authenticated by the Philippine Embassy) from the country of origin -Medical Clearance (if applicant is abroad, this clearance must be authenticated by the Philippine Embassy -6 pieces 6" x 6" pictures· 6 pieces 1" x 1" pictures -Bank Certification from an accredited bank of the Philippine Retirement Authority of bank deposit (US$ -50,000 for 50 years old & above, $50,000 for 35 to 49 years) Development Bank of the Philippines.

Spouse / Dependent: -Application Form -Passport with valid entry to the Philippines -NBI Clearance or Police Clearance (to be authenticated by the Philippine Embassy for 18 years old and above) -Medical Clearance (if applicant is abroad, this clearance must be authenticated by the Philippine Embassy) -6 pieces 6" x 6" pictures· 6 pieces 1" x 1" pictures -Marriage Certificate (authenticated by the Philippine Embassy) for spouse -Birth Certificate (authenticated by the Philippine Embassy) for dependents. -In Lieu of Marriage or Birth Certificates -Family Register (for Koreans) -Household Register (for Taiwanese) -Certificate of Relationship (for P.R.O.C.)

Processing Fee:

-US$ 1,5001. 35 - 49 Years Old -US$50,000.002. 50 Years Old & Above -Without Pension - US$20,000.00 -With Pension - US$10,000.00

NOTE: Additional Visa deposit - US$15,000.00 per dependent in excess of two (2).Show proof of monthly pension remitted to the Philippines (US$800.00 for single applicant and US$1,000.00 for married couples)

Fees: 

Service fee of $300 each for spouse or dependent (up to 3 dependents)

For families with more than 3 dependents, additional $ 15,000/dependent

Immigration conversion fee:

-Php: 7,600 for spouse and children 16 to 20 years old. -Php: 7,350 for children 14 to 15 years old. -Php: 6,850 for children 13 years old and below. -PLRA ID card ($10) for spouse and/or dependent. -Immigration express fee of Php 500 per person (elective)

The money deposited to the accredited bank of the Philippines Retirement Authority can be use to buy condominiums accredited by the PRA.

Source: www.makaticondoforsale.com.ph

For free consultations, call or text Mr. Jao Elegado at +63 906 495 6972

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