Unveiling the Mystery of Special Retirement Immigrant Visa SRRV in Philippines

One of the reasons why the Philippines has become an important choice for overseas investors is because of the extremely cost-effective green card. As we all know, the Philippines used to have the most economical way of immigration in the world. It only costs 20,000 US dollars to obtain permanent residency in the Philippines. There is no need to provide a source of funds, and there is no language and academic requirements. In the past, you can apply as long as you have reached the age of 35. Moreover, the process is relatively simple. It only takes 1-2 months to complete the process. One person applying for a family of three can obtain the second overseas status and enjoy the local advantages and benefits.

This kind of visa is the famous Philippine special retirement immigrant visa. The full name is Special Retiree Residence Visa, generally referred to as SRRV, and many people simply call it a pension immigrant visa. This visa is an immigration policy introduced by the Philippine Retirement Immigration Agency in 1985. The purpose is to attract more foreigners to invest in the Philippines and promote its economic and social development.

However, this special retirement immigrant visa SRRV, which is loved all over the world, was suspended in October last year and was not reopened until last year! According to official sources in the Philippines, the Philippine Retirement Agency has made a decision to restore the SRRV application process for applicants aged 50 and above in accordance with the latest Resolution No. 4.

Generally speaking, foreigners who choose to immigrate to the Philippines are divided into three situations:

1. People with children's educational needs

International schools in the Philippines have a pure American English atmosphere, the quality of education in European and American countries, and the price of education in Southeast Asia. The advantage of immersion language atmosphere is the same as that of the common IB academic system of Philippine International School, which is the same as that of European and American countries. It is convenient to apply for further study in well-known universities in Europe and America. The application pass rate is high and the Philippine International School is used as a springboard for famous European and American universities.

2. People who need recuperation and old-age care

The environment of the Philippines is suitable for living and comfortable. It is the first choice for the elderly in Asia. The cost of living is only the level of the domestic second and third-tier market, and you can enjoy a high-quality life at low cost. For those who need recuperation, they can also invite live-in nannies to take care of their lives and family nurses for daily care, and enjoy cost-effective medical care services.

3. People with special needs for overseas asset allocation and overseas identity planning

Non-CRS countries, can open overseas bank accounts. Start-up enterprises enjoy tax incentives to facilitate the development of overseas markets. Family PLAN B, convenient to transfer to a third country, transit travel.

So how should SRRV be handled?

(1) Deposit US $20,000 to the designated account of the Retirement Department (20,000 yuan is enough for a family of three, and the fourth person needs an increase of US $15,000);

(2) Preparation 1400 360 = US $1760 for handling fees. According to the real-time exchange rate conversion on that day, an extra US $360 will be paid for each additional person;

(3) At least 50 years old, no criminal record, meet health standards, meet investment requirements.

After the reopening of P.S., only 1-year cards are now issued.

Information required:

(1) Crime-free double certification (Philippine Embassy of the Ministry of Foreign Affairs of China);

(2) Medical examination report of designated institution;

(3) the original passport visa page (travel visa 9A, can be successfully processed, if it is a 9G work visa, need to be reduced to 9A can be processed)

(4) 12 2*2 white color photos (family members need to provide double authentication of kinship with the main applicant for handling together, members must provide double authentication of no crime when they reach the age of 18, and everyone needs to prepare photos)

Duration: 1 month to get the card