Can I apply for the SRRV if I am still working but planning to retire soon?
Yes, individuals aged 35 and above can apply for the SRRV even if they are still employed, as long as they meet the financial requirements and intend to retire in the Philippines. Many applicants choose to secure the SRRV early so they can enjoy long-term residency and tax advantages while preparing for full retirement.
Is the SRRV deposit refundable if I decide to leave the program?
Yes. The time deposit required under the SRRV program is fully refundable if you decide to withdraw from the program, provided there are no outstanding obligations or violations. The Philippine Retirement Authority (PRA) will process the refund after the visa is officially canceled.
Can I purchase a condominium under my own name as an SRRV holder?
Yes, SRRV holders are legally allowed to purchase condominium units under their own name in the Philippines. This is one of the most popular options for retirees who wish to have a permanent home without worrying about ownership restrictions on land.
Is it mandatory to live in the Philippines full-time under the SRRV?
No, SRRV holders are not required to reside in the Philippines permanently. They may leave and return freely without losing their visa status, as long as they maintain their annual PRA membership and meet the necessary compliance requirements.
Can same-sex couples apply together for the SRRV program?
Yes, same-sex couples can apply for the SRRV program, provided they have a legally recognized marriage certificate or proof of long-term partnership that is accepted under Philippine law or international conventions. Each case is reviewed by the PRA for verification.
Do SRRV holders have to report to immigration every year?
No, SRRV holders are not required to personally report to the Bureau of Immigration. The PRA manages the record of SRRV holders and acts as the liaison between the retiree and the immigration authorities, making the process more convenient.
What are the annual fees for maintaining the SRRV?
The PRA charges a small annual fee of USD 360 for the principal applicant and up to two dependents. This fee covers visa maintenance and PRA support services. Additional dependents are charged USD 100 per person per year.
Can I transfer my SRRV deposit from one bank to another?
Yes, it is possible to transfer the SRRV deposit to another PRA-accredited bank, but it must be coordinated through the PRA. The transfer process ensures that the deposit remains valid and compliant with SRRV regulations.
Is there a dress code or conduct guideline for SRRV holders?
While there is no official dress code, SRRV holders are expected to follow Philippine laws and respect local customs. Good moral conduct and compliance with local regulations are essential to maintaining your SRRV privileges.
What assistance does PRA offer to SRRV members after approval?
The PRA provides continuous assistance to SRRV holders, including help with renewing SRRV IDs, updating records, securing clearances, and connecting retirees with healthcare, housing, and investment opportunities. PRA offices in Manila, Cebu, and Davao are available to support retirees year-round.
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