The Philippine Leisure and Retirement
Authority (PLRA) offers a retirement program for overseas Filipinos
and qualified foreigners who would like to spend their retirement
years in the Philippines.
Who May Participate
Foreign nationals, except those
classified as restricted aliens by the Department of Foreign
Affairs, and former Filipinos who are holders of foreign passports,
who are physically healthy, with no derogatory record and are at
least 35 years old.
1. The applicant or his / her
representative gets an application form from the Philippine Embassy
2. The applicant submits the
accomplished form together with the required documents to the PRA,
and pays the following fees:
a. Application fee of -
- USD1,300 for applicants who are 50
years old and above, including former Filipinos
- USD1,800 for applicants between 35
to 49 years old
b. Service fee of USD200.00 for each
principal applicant and USD100.00 for each spouse/dependent
effective 01 April 2001
c. Conversion fee for change of
admission status for spouse and dependent specified as follows -
- PHP7,600.00 for spouse and
dependents 16 years old and above
- PHP7,350.00 for 14-15 years old
- PHP6,850.00 for 13 years old and
d. Processing fee of USD10.00 per ID
card per person
e. ½ % visitorial fee per annum of the
Philippine Peso equivalent of the deposit converted into actual
investment. This fee was increased to 1% for those retirees whose
SRRV are issued starting 16 September 2001.
f. Corresponding visa fee for SRRV. See
information on SRRV.
3. The documents will be transmitted to
the Department of Foreign Affairs which will in turn transmit these
to PLRA. PLRA evaluates the documents to ensure that everything is
complete and in order, and submits the evaluation to the Department
of Foreign Affairs in Manila.
4. If the application is approved, the
Philippine Embassy/Consulate issues a Special Resident Retiree's
Visa (SRRV) to the applicant within 3 to 5 working days.
5. The applicant must enter the
Philippines within one (1) year from date of issuance of the visa.
Upon arrival in Manila, PLRA shall recommend to the Bureau of
Immigration (BI) the conversion of Special Resident Retiree's single
entry visa to multiple indefinite-entry visa.
1. Philippine Retirement Program
2. Photocopy of passport page showing date of birth
3. Department of Foreign Affairs (DFA) Medical Examination form
accomplished by a licensed physician abroad, notarized, and duly
authenticated Ministry of Foreign Affairs and the Philippine Embassy
or Consulate of the country where the document was notarized.
4. Certification by PLRA accredited bank of deposit made by the
5. Police clearance issued abroad and translated in English,
notarized and duly authenticated by the Ministry of Foreign Affairs
and the Philippine Embassy or Consulate of the country where the
document was issued.
6. ID photographs, 6 pieces of 2.54 x 2.54 cm and 6 pieces of 5.08 x
7. Passport valid for more than six (6) months, including photocopy
showing passport details and current visa.
8. If the spouse is joining the applicant, marriage certificate or
marriage contract translated in English and duly authenticated by
the Ministry of Foreign Affairs and Philippine Embassy or Consulate
nearest the applicant's residence if the marriage was contracted
abroad. If the marriage was solemnized in the Philippines, original
9. If dependent/s is/are joining the applicant, original birth
certificate/s of dependent/s or household register translated in
English and duly authenticated by the Philippine Embassy/Consulate
nearest the applicant's residence abroad.
All applicants must open a US dollar
time deposit for a term of six (6) months at any PRA short-listed
bank. The amounts of required deposits are as follows:
|1. Former Filipinos
|2. Foreign Nationals 50 years old
|3. Foreign Nationals 35-49 years
|4. Applicants from the following
- Retired military personnel of
governments recognized by the Philippines.
- Former members of foreign diplomatic
corps who have served for at least three (3) years in their
- Retired officers/employees of
international organizations such as the UN and its affiliate
agencies, the WHO, World Bank, ILO and similar organizations.
5. Retired ADB employees (pilot
The balance of USD25,000.00 shall be filled in by pre-existing
investment in real properties.
PLRA Short Listed Banks
- Bank of Commerce
- Equitable-PCI Bank
- Bank Wise
- Export Bank
- Permanent non-immigrant status with
multiple-entry privileges through the Special Resident Retiree's
- Exemption from customs duties and
tax from the importation of personal effects, appliances and
household furniture worth USD7,000.00 in one shipment within
ninety (90) days from date of issuance of SRRV
- Exemption from Exit Clearance and
- Exemption from payment of travel
tax, provided the retiree has not stayed in the Philippines for
more than one (1) year from date of latest entry into the country
- Conversion of the required time
deposit to active investments, including the purchase of
condominium units and proprietary golf membership shares;
- May convert foreign currency time
deposit to Philippine Peso deposit after the issuance of SRR Visa
(interest subject to withholding tax)
- Pension and annuities remitted to
the Philippines are tax free
- Guaranteed repatriation of requisite
deposit, including invested profits, capital gains and dividends
accrued from investments upon compliance with Bangko Sentral rules
- Exemption from securing Student's
Visa or Special Study Permit.
Note: Effective 01 January 1998,
interest income received by an individual tax payer (except
non-resident individuals) on foreign currency deposit is subject to
7.5% final withholding tax under R.A. 8424. Interest income on
foreign currency deposit of PRA retirees are paid in Philippine
For further information, please
Philippine Leisure and Retirement
29/F Citibank Tower
8741 Paseo de Roxas, Makati City
Tel. No. +(63 2) 848-1412 to 20
Fax No. +(63 2) 848-1411