# Retiree VISA



## FxDragons (Dec 7, 2012)

Anyone have experience with the retiree visa process? I am 53 and looking to retire in the PHILS and don't want to have to travel continuously out of the country.


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## richardsinger (Oct 30, 2012)

I have a retirement visa (SRRV) from PRA. The visa (stamp in your passport) has no expiry date, but the ID card that takes the place of ACR has to be renewed every year.

One of the conditions for SRRV is that you must make a US dollar time deposit into a bank approved by PRA. The amount depends on your age and whether you have a pension (best to check the PRA website for latest info). The rules are that after one month you can withdraw this money to use for an approved investment, but in practice it will take much longer and a process of hoop-jumping before you will get access to this money again. If you can afford to just keep the money on deposit it will be much less hassle, and the advantage of doing so is that the renewal fee for your SRRV ID card is only $10 per year. It is much higher if you have withdrawn the deposit.

In order to get a SRRV, you have to submit documents according to a list of requirements (check PRA website again). These include police clearance from your last country of residence and medical report (medical test can be done free after coming to Philippines). The process looks a bit involved at first glance, but in practice the people at PRA will guide you through it and it is fairly easy.

If you have any specific questions about SRRV please feel free to ask.

Richard


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## Asian Spirit (Mar 1, 2010)

Hi FX,

Here's a link to the Philippine Retirement Athority website that Richard indicated. It should have needed info that will help you along the way.

Question, Your "location" shows as "TBD". I'm from Calif originally but haven't heard of that. What area is that?


Gene


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## FxDragons (Dec 7, 2012)

*Thanks*

Thanks for the info. TBD, not sure why it shows that way. I am in Bahrain right now, though I am an american working for an american company. Will check the website for the info. Replies much appreciated.....


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## Zone199 (Oct 21, 2013)

richardsinger said:


> I have a retirement visa (SRRV) from PRA. The visa (stamp in your passport) has no expiry date, but the ID card that takes the place of ACR has to be renewed every year.
> 
> One of the conditions for SRRV is that you must make a US dollar time deposit into a bank approved by PRA. The amount depends on your age and whether you have a pension (best to check the PRA website for latest info). The rules are that after one month you can withdraw this money to use for an approved investment, but in practice it will take much longer and a process of hoop-jumping before you will get access to this money again. If you can afford to just keep the money on deposit it will be much less hassle, and the advantage of doing so is that the renewal fee for your SRRV ID card is only $10 per year. It is much higher if you have withdrawn the deposit.
> 
> ...


Richard

You say that the renewal fee for your SRRV ID card is only $10 per year if you keep your deposit money on deposit. I thought the renewal for the SRRV was now $360.00 per year.

But maybe the renewal of the ID card is a different charge and you still have to pay the $360 per year. Can you tell me which is correct?

Thanks
Maxx


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## richardsinger (Oct 30, 2012)

Zone199 said:


> Richard
> 
> You say that the renewal fee for your SRRV ID card is only $10 per year if you keep your deposit money on deposit. I thought the renewal for the SRRV was now $360.00 per year.
> 
> ...


Hi Maxx. At the time I posted that reply, I was not aware that PRA had changed the rules for new SRRV retirees. Yes I still pay $10 per year (it's around 600 pesos including courier charge for the card to be delivered to my house), but I understand that new members have to pay $360 per year, which is quite a leap up. I am sorry for posting out of date info.

Richard


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## Zone199 (Oct 21, 2013)

richardsinger said:


> Hi Maxx. At the time I posted that reply, I was not aware that PRA had changed the rules for new SRRV retirees. Yes I still pay $10 per year (it's around 600 pesos including courier charge for the card to be delivered to my house), but I understand that new members have to pay $360 per year, which is quite a leap up. I am sorry for posting out of date info.
> 
> Richard


No problem, things change fast. Thanks for your reply.

Maxx


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