Special Resident Retiree's Visa (SRRV)
SRRV FAQ: Visa Deposit
1. How much is the visa deposit? When should I remit the visa deposit?
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For SRRV CLASSIC - For 50 years old and above: US$10,000 (with pension*) or US$20,000 (without pension)
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For SRRV HUMAN TOUCH - US$10,000 (with pension of at least US$1,500) and a health insurance policy accepted in the Philippines
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For SRRV COURTESY - US$1,500
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For SRRV EXPANDED COURTESY - US$1,500 (with pension of at least US$1,000)
*Required pension of at least US$ 800 for single and US$1,000 if with dependents
Ideally, the visa deposit should be remitted to PRA's designated bank account a month prior to application. This way, the waiting time for the money to be reflected in PRA's system is reduced.
2. Can I use my property in the Philippines as visa deposit?
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If you have SRRV CLASSIC, it is possible to convert your visa deposit into an investment. The value of the property must at least be US$50,000.00.
3. What kind of property can I use for the visa deposit conversion?
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For foreigners, PRA only allows visa deposit conversion for Ready-For-Occupancy (RFO) condominium units or long term lease of at least 20 years.
4. Please give me information about the visa deposit conversion.
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Please click here.
5. How do I remit money from my home country to PRA's designated bank accounts?
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Please click here.