1. With Pension – 50 years old and above – the required time deposit is US$10,000.00 plus a monthly pension of US$800.00 for a single applicant and US$1,000.00 for a couple
2. Without Pension

• 35 to 49 years old – US$50, 000.00 time deposit
• 50 years old and above – US$20, 000.00 time deposit
• Former Filipino Citizens (at least 35 years old, regardless of the number of dependents – US$1,500.00)
• Ambassadors of foreign countries who served and retired in the Philippines, current and former staff members of international organizations including ADB (at least 50 years old) -US$1,500.00

It must be emphasized that the required time deposit can be converted into enumerated areas of investment after one (1) month from the date of the issuance of the SRRV. The only allowed areas of investment are the following:

1. Purchase of condominium unit/s;
2. Long term lease of a house and lot, condominium or townhouse unit/s;
3. Construction of a residential unit on a leased parcel of land;
4. Purchase of Proprietary Membership/Golf shares in golf clubs;
5. For former Filipinos, purchase of a lot not exceeding 5,000 square meters in urban areas or three (3) hectares rural areas to be used for business or other purposes.

As for the documentary requirements and pursuant to the issuance of the PRA, the following must be submitted:

1. PRA application form;
2. Government Fee of US$1,400.00 for the principal and US$300.00 for each dependent (spouse/children).
3. Original passport with valid entry status;
4. Medical Examination Clearance: can be secured abroad (with English translation) duly authenticated by the Philippine Embassy/Consular Office. If the applicant is in the Philippines, this can also be secured at the PRA One-Stop Shop;
5. Bank Certificate of Dollar Time Deposit inwardly remitted to any PRA accredited banks;
6. Police Clearance only, for retiree-applicants whose stay in the Philippines is thirty (30) days or less from date of last entry, which must be secured from the applicant’s country of origin (with English translation) duly authenticated by the Philippine Embassy or Consular Office. Police Clearance (from the applicant’s country of origin) and National Bureau of Investigation (NBI) Clearance for retiree applicants whose stay in the Philippines is more than 30 days from date of last entry. This also applies to spouse and dependents 18 years of age and above;
7. Photographs, 12 pieces 2”x2”;
8. If the spouse is also applying for SRRV, Marriage Certificate or Marriage Contract translated into English (if necessary) and duly authenticated by the Philippine Embassy/Consulate nearest the applicant’s residence if the marriage was contracted abroad. If the marriage was solemnized in the Philippines, original Marriage Certificate; and
9. If dependent/s is/are also applying for the SRRV, original Birth Certificate/s of dependent/s born in the Philippines or Birth Certificate/s or Household Register translated into English (if necessary) and duly authenticated by the Philippine Embassy/Consulate nearest the applicant’s residence abroad.

Once you are an SRRV Visa holder, it opens the door to vast opportunities and benefits. These include:

1. Option to retire permanently: You may live, work, and study in the Philippines.
2. Multiple entry privileges: You may travel outside the Philippines and re-enter anytime
3. 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; and
• 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