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Item details
Category OWNERSHIP
Retiring in the Philippines
Created Jun-4-2015
Owner admin
QUESTION Retiring in the Philippines
ANSWER

Retiring in 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)
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, $75,000 for 35 to 49 years)
Processing fee: US$ 1,500

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.)

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)

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 This deposit can be withdrawn after 6 months but must be invested in the Philippines.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.

Also see the Philippine Retirement Act from the Philippine Retirement Authority.