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| More from the Philippine Retirement Agency website PRA: Philippine Retirement Authority Being a holder of Special Resident Retiree's Visa (SRRV) , one can have the following benefits: 1. Option to Retire Permanently • You may live, work and study in the Philippines 2. Multiple Entry Privileges • You may travel outside the Philippines and re-enter anytime 3. Exemptions from: • Income tax over your pension and annuities; • Exit and re-entry permits of the Bureau of Immigration; • Annual registration requirement of the Bureau of Immigration; • Customs Duties and Taxes with regard to the importation of household goods and personal effects up to US$7,000.00; • Travel tax, if you stay in the Philippines is less than one year from the last entry date; and • I-Card As an SRR Visa holder, the PRA can assist you in obtaining basic documents from other government agencies. These include, but are not limited to: • Alien Employment Permit • Driver's License • Tax Exemption/Extension Certificate • Tax Identification Number • National Bureau of Investigation (NBI) Clearance click here for on-line application PRA: Philippine Retirement Authority |
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| I've been looking into this as I had a retirement visa in Thailand and was interested in doing the same thing in the Philippines. A friend of my has one and suggested I take a look. you do have to make a cash investment in my case I heard it was 20k US. I wrote to someone that handles the paper work for this and this was part of his reply: In answer to your queries the amount invested varies according to the circumstances and age of the applicant and ranges from USD10,000 to 50,000. These funds may be either left in a PRA accredited bank in the form of a CD which gains interest or used for various investments including purchase of a condo unit or long-term lease of a townhouse. I think that it is best that you visit my office and decide for yourself whether or not it is to your advantage to apply for an SRRVisa. I don't have a problem with making a 20K deposit. In Thailand you have to do the same and it has to remain untouched for 3 months. after the visa is issued you can use the money. But in this case YOU have to leave the money invested... personally I don't want to buy a condo or lease a town house or buy a market account. So I'm not sure for me it's a way to go. Maybe just stick with the ARC card and doing immigration every 2 months |
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