SRRV is a special multiple entry visa program of the Philippine government that grants foreigners and former Filipinos non-immigrant permanent resident status and vests them the privilege to own real estate properties or proprietary golf shares, put up and conduct business, work, study and reside permanently anywhere in the Philippines.
Once you become a member of the Program or a holder of the Special Resident Retiree’s Visa (SRRV), you will enjoy the following perks and privileges:
- Permanent non-immigrant status with multiple-entry privileges;
- Exemption from customs duties and taxes for the importation of personal effects, appliances and household furniture worth US$7,000.00;
- Exemption from exit clearance and re-entry permits from the Bureau of Immigration;
- Exemption from payment of travel tax provided the SRRV holder has not stayed in the Philippines for more than one year from date of latest entry into the country;
- Conversion of the required time deposit to active investments which may take the form of shares of stocks in existing or to be organized corporations (except those traded in the country’s stock market), proprietary club or golf shares, long-term lease of real property, construction of residential house on a leased property or on the property of a former Filipino spouse, and a purchase of condominium units for commercial or residential use;
- Foreign currency time deposit in the name of the SRRV holder can be converted to Philippine peso deposit and earns interest credit to the holder subject to withholding tax;
- Pension and annuities remitted to the Philippines are tax-free;
- Guaranteed repatriation of the requisite deposit, including invested profits, capital gains and dividends accrued from investments upon compliance with Bangko Sentral (Central Bank of the Philippines) rules and regulations;
- Holders of SRRV are exempted from getting the Student’s Visa/Special Study Permit;
- Former Filipinos have the option under the Foreign Investments Act (RA 8179) to acquire lands limited to 5,000 square meters in urban areas or not more than three (3) hectares in agricultural areas for business or residential purposes.
II. QUALIFICATIONS AND REQUIREMENTS
QUALIFICATIONS: Citizenship and Age
- All foreign nationals (except those from countries with no diplomatic ties to the Philippines or are classified as Restricted by the Department of Foreign Affairs);
- Former Filipinos who are how holders of foreign passports;
- Provided they are at least 35 years old.