One type of Resident Visa is know as the SRRV or Special Resident Retiree Visa. You are required to leave the money in the bank. Recently 800 people were deported and blacklisted for withdrawing their funds.
The requirements are as follows:
• At least 35 years old
• Without criminal record
• Meeting medical standards
• Meeting the investment requirement
A retiree who applies for a Special Resident Retiree Visa (SRRV) has the option to enroll to the program based from his retirement status.
Retirement Option and their Required Time Deposit
1. With Pension – 50 years. Old and above – the required time deposit is US$10, 000.00 plus a monthly pension of US$800.00 for a single applicant and US$1,000.00 for couple
2. Without Pension
o 35 to 49 years old – US$50, 000.00 time deposit
o 50 years old and above – US$20, 000.00 time deposit
o Former Filipino Citizens (at least 35 years old, regardless of the number of dependents – US$1,500.00)
o Ambassadors of foreign countries who served and retired in the Philippines, current and former staff members of international organizations including ADB (at least 50 years old) – US$1,500.00
3. A resident retiree can bring with him, without additional deposit, his spouse and a child who is unmarried and below 21 years old or if the spouse is not joining, two (2) children (provided they are unmarried and under 21 years of age.) Additional children with the same qualifications may also be allowed to join the principal retiree provided there is an additional deposit of US$15,000.00 per child. The said time deposit however, is subject the same and conditions with that of the principal deposit. This does not apply to former Filipino Citizens.
For additional details and to apply online visit: http://www.pra.gov.ph/
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I am a Bangladeshi national resident in kualumpur, Malaysia. I am retired from my job, like to know dtals of how to get a long time resident visa in Phil.
I don’t know the answer to your question. The article you left your comment on should provide some information or resources to find out. There are several factors that come into play. One of those is the country that issued you your passport. The BI site will have that info though.