Special Resident Retiree Visa

There is a Resident Visa in The Philippines known as Special Resident Retiree Visa. An applicant is required to maintain a time deposit in a Philippine Bank.

The Requirements are as follows: Must be 35 years old and above, no criminal record, must meet medical records, must meet investment requirement.

Retirement Options and Required Time Deposit:

1. For those with pension, 50 years old and above, the required deposit is $10, 000 with a monthly pension of $800 for a single applicant and $1, 000 for a couple.

2. For those without pension, 35 to 49 years old must maintain $50, 000 time deposit. For 50 years old and above, must maintain $20, 000 time deposit. For former Filipino Citizens, at least 35 years old, regardless of the number of dependents must maintain $1, 500 time deposit. 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 must maintain $1, 500 time deposit.

A Resident Retiree applicant 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 below 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 $15, 000 per child. This does not apply to former Filipino Citizens.

The benefit of Special Resident Retiree Visa is that you can have a business in The Philippines and you are a resident. There will be no need for Visa extensions.