Guide to Invest, Retire and Live in Manila with Your Philippine Green CardFebruary 26, 2018
You have been working most of your life. You have been saving up for the future. And you have been dreaming of living abroad with your family. The Philippines is the best place to invest, retire and live the life you have always dreamed of. Let us tell you more about the Special Resident Retirement Visa(SRRV), Megaworld Manila is offering. This is also known as the “Philippine Green Card”, or the “Retirement Visa/Student Visa”. This visa is a special non-immigrant visa that will be issued by the Philippine Retirement Authority which is owned and controlled by the Department of Tourism.
Megaworld Manila is offering the Classic Special Retirement Resident Visa (SRRV). This is for active and healthy retirees 35 years old and above. They will be required to maintain a visa deposit from PRA designated banks the amount of USD10,000 / USD20,000 for 50 years old and above, and USD 50,000 for Principal members who are 35 to 49 years old. This amount will be deductible from the purchase of condominium or project of their choice from Megaworld Manila.
Who can apply?
Principal Applicants should be Foreign nationals and former Filipino citizens who are 35 years old can apply. Dependents must be a legal spouse married to the retiree. For the children of the principal applicant, must be legitimate or legally adopted by the Principal applicant. The children should be unmarried and below 21 years old upon joining the program.
What are the benefits?
With the Special Resident Retirement Visa (SRRV), visa holders will be able to choose from any of the pre-selling and ready for occupancy condominium Megaworld Manila is offering. You may choose from projects in Manila, Makati, Taguig, Quezon City, and in Cebu. Thus, also entitling the principal member and his/her dependents to reside in the Philippines indefinitely with multiple-entry and exit privileges.
Holders of this visa have access to our meet and greet assistance from our friendly staff. Assistance in transacting with other local government agencies to fulfill the requirements will also be provided–Land Transportation Office (LTO) for driver’s license, National Bureau of Investigation (NBI) clearance, Tax Identification Number (TIN), Medical Clearance, Police Clearance, etc. Discount privileges are also given for services offered by accredited PRA Merchant Partners. Exemption will be given to the following — Custom duties and taxes for the importation of house hold goods and personal effects up to USD 7,000.00; tax on pensions and annuities; travel tax if stay in the in the country is less than one year from the last entry date; and student visa/special study permit.
What are the requirements?
- Original of the valid passport with valid/updated visa In the Philippines
- Accomplished PRA Application Form
- Original Medical Clearance
- Original Police Clearance from the country of origin
- 12pcs 2”x2” Photos
- Visa deposit inwardly remitted to any of the PRA designated banks
- One time processing / service fee: Principal Applicant US$1,400 Each Dependent US$300
- PRA Annual Fee US$360 (covers 3 family members)
- Marriage Certificate for joining spouse and Birth Certificate for joining children
NOTE: Documents obtained outside of the Philippines must be translated into English, if necessary and authenticated by the Philippine Embassy/Consulate.
We at Megaworld Manila would love to offer you a live, work, play, learn and shop lifestyle in our Megaworld Townships. We would love to let you experience our exceptional customer service and be part of the happy owners of Megaworld Properties. For inquiries, you may contact us thru the following:
Call /SMS: +63 915 843 2462