Retirement for Foreigners in the Philippines
The Philippine Retirement Authority has a Special Resident Retiree’s (SRR) Visa that can be availed by foreigners wanting to retire here. They have to however be foreign nationals or former Filipino citizens who are at least 35 years old.
The benefits of participating in this program are:
1. Option of Permanent Residency, Multiple-entry and Indefinite Stay in the Philippines.
2. Exemption from exit clearance & Re-entry permits.
3. Exemption from Custom Duties & Taxes for the importation of personal effects worth $7000.
4. Exemption from Travel Tax, if stay is less than a year from the last entry date.
5. Option of including dependents to the program.
6. Exemption from obtaining a Special Study Permit.
7. Exemption from the Bureau of Immigrations Annual Registration Requirement.
8. Assitance in securing an Alien Employment Permit.
9. Tax Free Remittance of Annuities and Pensions.
10. Guaranteed repatriation of the deposit/investment
Documentary Requirements:
1. Accomplished PRA Application form.
2. Original or Valid Passport with Valid Entry.
3. Medical Certificate.
4. Philippine Police or National Bureau of Investigation clearance.
5. Time deposit Certification from any PRA accredited bank of inward
US dollar Remittance.
6. 1″x1″ & 2″x2″ photographs (6pcs each)
Deposit/Investment Requirements
$1,500 - former Filipino Citized
$50,000 - foreign nationals 50 yrs & above.
$75,000 - foreign nationals 35~49 yrs old.
One time fees
Principal - $1500
Spouse/Dependent - $300.00 each
Other fees
ID Card Renewal - $10.00
A foreigner is not allowed to own land in the Philippines, they may however use these avenues instead in order to acquire dwellings:
1. Invest in a corporation that can purchase land.
2. Buy a condominium
3. Long term Lease.
Foreigner’s will also have no problem when it comes to transportation, as they are allowed to purchase and register vehicles in their name.
You can visit the Philippine Retirement Authority’s website or email them at inquiry_at_pra.gov.ph
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