SRRV is a special multiple entry visa program of the Philippine government that grants foreigners and former Filipinos non-immigrant permanent resident status and vests them the privilege to own real estate properties or proprietary golf shares, put up and conduct business, work, study and reside permanently anywhere in the Philippines.
Once you become a member of the Program or a holder of the Special Resident Retiree’s Visa (SRRV), you will enjoy the following perks and privileges:
- Permanent non-immigrant status with multiple-entry privileges;
- Exemption from customs duties and taxes for the importation of personal effects, appliances and household furniture worth US$7,000.00;
- Exemption from exit clearance and re-entry permits from the Bureau of Immigration;
- Exemption from payment of travel tax provided the SRRV holder has not stayed in the Philippines for more than one year from date of latest entry into the country;
- Conversion of the required time deposit to active investments which may take the form of shares of stocks in existing or to be organized corporations (except those traded in the country’s stock market), proprietary club or golf shares, long-term lease of real property, construction of residential house on a leased property or on the property of a former Filipino spouse, and a purchase of condominium units for commercial or residential use;
- Foreign currency time deposit in the name of the SRRV holder can be converted to Philippine peso deposit and earns interest credit to the holder subject to withholding tax;
- Pension and annuities remitted to the Philippines are tax-free;
- Guaranteed repatriation of the requisite deposit, including invested profits, capital gains and dividends accrued from investments upon compliance with Bangko Sentral (Central Bank of the Philippines) rules and regulations;
- Holders of SRRV are exempted from getting the Student’s Visa/Special Study Permit;
- Former Filipinos have the option under the Foreign Investments Act (RA 8179) to acquire lands limited to 5,000 square meters in urban areas or not more than three (3) hectares in agricultural areas for business or residential purposes.
II. QUALIFICATIONS AND REQUIREMENTS
QUALIFICATIONS: Citizenship and Age
- All foreign nationals (except those from countries with no diplomatic ties to the Philippines or are classified as Restricted by the Department of Foreign Affairs);
- Former Filipinos who are how holders of foreign passports;
- Provided they are at least 35 years old.
Why hire Ultimate Visa Corporation?
- Ultimate Visa Corporation is a multi-awarded visa and immigration services provider.
- Ultimate Visa Corporation is backed by a legal counsel (immigration lawyer) to address and assist any legal concern regarding our clients’ application. This is a service you won’t normally avail when you apply for a visa at any government institution or embassy (as a walk-in applicant).
- The rates of Ultimate Visa Corporation are competitive where our staff will do all the complex paperwork and leg work. This means that our clients can spend most of their time on other things that matter to them instead of the tedious application process.
- We also prepare and brief the applicants for the interview at the embassies. Guiding the applicants in each stage of the visa application makes it less complex and stressful for clients.
- Ultimate Visa Corporation is a private corporation, licensed under the Philippine Securities and Exchange Commission is not affiliated with the Philippine Bureau of Immigration. The Philippine laws do not require Ultimate Visa Corporation to register and be affiliated with the Bureau of Immigration to perform its business. In fact, Ultimate Visa Corporation is registered with the Bureau of Internal Revenue for tax purposes and has secured business and mayor’s permits from the government of Cebu City and Makati City for its head and branch offices.
- Though most of the forms are available for free or at a lower cost (where applicable) from the government or embassy of the country you would apply for, Ultimate Visa Corporation offers free assessment for all applicant and they are not obliged to take any of our services. Here is the official website of the Philippine Bureau of Immigration.