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Blogs > bruno10 > Thoughts of a Barrio Lass


bruno10 59F
25 posts
9/21/2009 5:19 pm
Retirement in the Philippines

Special Resident Retirement Visa (SRRA) 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.

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 16 to 20 years old.
• Php: 7,350 for 14 to 15 years old.
• Php: 6,850 for 13 years old and below
• PLRA ID card ($10) for spouse and/or dependent
• Immigration express fee of Php 500 per person (elective)
Note: The required investment money (US$ 50,000 for 50 years old & above, $75,000 for 35 to 49 years) to avail of the Special Resident Retirement Visa (SRRA) must be deposited in a bank accredited by the Philippine Retirement Authority. This deposit can be withdrawn after 6 months but must be invested in the Philippines. It can be used to buy properties (condominiums) stocks, securities, etc.

Online Application is available at the Phil. Retirement Authority site.

bruno10 59F
44 posts
9/22/2009 2:40 pm
    Quoting slowhand4u:
    So Foreigners can buy properties in the Philippines ?, now all I need to know is can I stand the heat
Yes, foreigners can buy properties under the privilege of the SRRA Visa. We only have 2 seasons here, summer (dry) and rainy (wet) season. For the heat, we put air conditioners in our houses and buildings.


bruno10 59F
44 posts
9/22/2009 2:27 pm
    Quoting hoosey22:
    This sounds a very risky policy indeed,why would you need to deposit money in PI bank ? i wonder ? slow condo only me friend
SRRA Visa is a privilege granted to foreigners who meets the requirements/qualifications enumerated. To avail of this Special Resident Retirement Visa (SRRA), the required investment money must be deposited in a bank accredited by the "Philippine Retirement Authority". This deposit can be withdrawn after 6 months but must be invested in the Philippines. It can be used to buy properties (condominiums) stocks, securities, etc.

You can check out the accredited banks at the PRA - "Philippine Retirement Authority" website. It may include banks located in your place.


hoosey22

9/22/2009 11:53 am

 This sounds a very risky policy indeed,why would you need to deposit money in PI bank ? i wonder ? slow condo only me friend


slowhand4u 63M
12 posts
9/22/2009 11:22 am

 So Foreigners can buy properties in the Philippines ?, now all I need to know is can I stand the heat




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