SRRVSpecial Resident Retiree Visa (Bureau of Immigration; Republic of the Philippines)
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The SRRV is a special non-immigrant visa for foreigners who intend to make the Philippines their retirement home or investment destination.
The PRA positions the Philippines as a retirement destination through the SRRV, which is a special non-immigrant lifetime visa given to foreign nationals planning to retire and rest in the country.
The SRRV emerges from the central portion of the hilum on the anterior surface of the renal pelvis, crosses anteriorly the MRRV, turning medial-superiorly toward the IVC.
Century Properties Group (CPG), a Philippine Stock Exchange-listed real estate developer, offered to assist balikbayans and expats seeking to gain permanent residence through the SRRV together with their spouses and dependents.
An SRRV holder enjoys multiple-entry privileges and exemption from securing an Alien Certificate of Registration I-Card from Bureau of Immigration; exemption from paying travel tax at airports; and exemption from student's permit or visa for their dependent-children who may study in the country.
Megaworld is accredited by the Philippine Retirement Authority (PRA) to provide Special Resident Retirement Visas (SRRV) to foreigners such as Chinese, Japanese, Korean, Taiwanese, and US nationals who want to settle down and retire in the Philippines.
Even those as young as 35 years old and of any foreign nationality may avail of the SRRV. It has no expiry and the visa can be used either as a work visa, study visa, or retirement visa.
This foreign retiree happened to be one of those SRRV holders who dared to stand up against the BCDA, which issued an order to the Camp John Hay locators, including the foreign retirees, to vacate their residences.
According to Elma Corbeta, chief of the Cebu satellite office of the Philippine Retirement Authority (PRA), Pope's SRRV application was approved after he submitted clean police and medical records and paid a visa deposit of $50,000.
In March 2011, Pope sought the cancellation of his SRRV and wanted to withdraw his visa deposit since he needed the money to pay for medication for a heart ailment and to pay the tuition of the children he was supporting.
Daubenbuechel's study indicated that from 1987 to April 2009, 7,147 principals enrolled for the SRRV program, bringing 7,447 spouses/dependents with them.
"Data on SRRV enrollees are not sufficient to be able to conclude how many participants are enrolled for the purpose of retiring in the Philippines.