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**What is the Philippines Retirement Visa SRRV Program?**
The Special Resident Retiree's Visa (SRRV) program, administered by the Philippine Retirement Authority (PRA), allows foreign nationals and former Filipinos to obtain long-term residency in the Philippines. It's designed to attract retirees and investors, offering various options based on age and financial capabilities.
**Who is Eligible to Apply for the Philippines Retirement Visa SRRV?**
Eligibility criteria vary depending on the specific SRRV plan chosen. Generally, applicants must be at least 35 years old and meet financial requirements, such as a minimum deposit or proof of a sufficient pension. Those with criminal records are ineligible.
**What are the Benefits of the Philippines Retirement Visa SRRV?**
Benefits include indefinite stay with multiple entry and exit privileges, exemption from certain immigration requirements (like the ACR I-Card), tax exemptions on certain income, and access to various discounts and privileges from PRA-accredited establishments.
**What is the Minimum Age Requirement for the Philippines Retirement Visa SRRV?**
The minimum age requirement depends on the chosen SRRV plan. Some plans require applicants to be at least 35 years old, while others have a higher minimum age requirement of 50.
**Can Foreigners Under 50 Years Old Apply for the Philippines Retirement Visa SRRV?**
Yes, some SRRV plans are available to foreigners under 50, but they typically require a larger initial deposit.
**What are the Different Options Under the Philippines Retirement Visa SRRV?**
The PRA offers several SRRV options, including:
* **SRRV Smile:** Requires a deposit, typically $20,000, which remains in a designated bank account. Age 35+.
* **SRRV Classic:** Requires a deposit (amount varies based on age and pension status) that can be converted into an investment after a waiting period. Age 35+.
* **SRRV Courtesy:** For former Filipinos and certain foreign nationals (e.g., retired diplomats). Lower deposit requirement. Age 35+.
* **SRRV Human Touch:** For retirees with health concerns requiring medical care. Age 35+.
Specific requirements and deposit amounts vary for each plan.
**What is the Classic Plan Under the Philippines Retirement Visa SRRV?**
The SRRV Classic plan is a popular option allowing applicants to invest their deposit (amount varies based on age and pension) in Philippine properties (condominiums, long-term leases) after a waiting period. It's a more flexible option than SRRV Smile, which requires maintaining the deposit in a bank account.
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