SRRV Retirement Visa
#3
BE Enthusiast
Joined: Mar 2005
Location: Island and Province of Cebu-Philippines
Posts: 562
Re: SRRV Retirement Visa
Under "3"
Benefits of SRRV Holder (Special Resident Retiree's Visa)
More from the Philippine Retirement Agency website PRA: Philippine Retirement Authority
Being a holder of Special Resident Retiree's Visa (SRRV) , one can have the following benefits:
1. Option to Retire Permanently
• You may live, work and study in the Philippines
2. Multiple Entry Privileges
• You may travel outside the Philippines and re-enter anytime
3. Exemptions from:
• Income tax over your pension and annuities;
• Exit and re-entry permits of the Bureau of Immigration;
• Annual registration requirement of the Bureau of Immigration;
• Customs Duties and Taxes with regard to the importation of household goods and personal effects up to US$7,000.00;
• Travel tax, if you stay in the Philippines is less than one year from the last entry date; and
• I-Card
As an SRR Visa holder, the PRA can assist you in obtaining basic documents from other government agencies. These include, but are not limited to:
• Alien Employment Permit
• Driver's License
• Tax Exemption/Extension Certificate
• Tax Identification Number
• National Bureau of Investigation (NBI) Clearance
Benefits of SRRV Holder (Special Resident Retiree's Visa)
More from the Philippine Retirement Agency website PRA: Philippine Retirement Authority
Being a holder of Special Resident Retiree's Visa (SRRV) , one can have the following benefits:
1. Option to Retire Permanently
• You may live, work and study in the Philippines
2. Multiple Entry Privileges
• You may travel outside the Philippines and re-enter anytime
3. Exemptions from:
• Income tax over your pension and annuities;
• Exit and re-entry permits of the Bureau of Immigration;
• Annual registration requirement of the Bureau of Immigration;
• Customs Duties and Taxes with regard to the importation of household goods and personal effects up to US$7,000.00;
• Travel tax, if you stay in the Philippines is less than one year from the last entry date; and
• I-Card
As an SRR Visa holder, the PRA can assist you in obtaining basic documents from other government agencies. These include, but are not limited to:
• Alien Employment Permit
• Driver's License
• Tax Exemption/Extension Certificate
• Tax Identification Number
• National Bureau of Investigation (NBI) Clearance
#4
Re: SRRV Retirement Visa
Hi Tropic, have you got a link to the Government website? Just thinking this would be a useful "sticky" in the Philippines section for folks thinking about retirement in the 'Peens.
#5
Forum Regular
Thread Starter
Joined: Nov 2008
Posts: 63
Re: SRRV Retirement Visa
Thanks guys for your quick response.I had seen the PRA SRRV Classic benefits listed and had previously looked at the Philippine Tax web site,both saying pensions are Exempt from income tax,but wanted to be sure.The $360 annual fee is the only recurring cost I see mentioned.So as long as the annual cost remains at that level the SRRV Visa is a very good deal for me.
#6
BE Enthusiast
Joined: Mar 2005
Location: Island and Province of Cebu-Philippines
Posts: 562
Re: SRRV Retirement Visa
This relates to the Philippine Retirement Authority:
http://pra.gov.ph/main/srrv_program2/2?page=1
I am seriously considering paying tax in the Philippines as pensions would be exempt.
This does not apply to "Government Pensions" See List:
http://www.hmrc.gov.uk/manuals/intmanual/INTM343040.htm
This seems to exclude UK State Pension.
I am checking out the situation regarding the 13A visa and taxation on pensions. It seems clear on the SRRV pay $360 a year, and you pay no tax on your pension from abroad.
http://pra.gov.ph/main/srrv_program2/2?page=1
I am seriously considering paying tax in the Philippines as pensions would be exempt.
This does not apply to "Government Pensions" See List:
http://www.hmrc.gov.uk/manuals/intmanual/INTM343040.htm
This seems to exclude UK State Pension.
I am checking out the situation regarding the 13A visa and taxation on pensions. It seems clear on the SRRV pay $360 a year, and you pay no tax on your pension from abroad.
#8
Forum Regular
Joined: Jun 2012
Posts: 228
Re: SRRV Retirement Visa
double taxation or something like that and between UK and The Philippines you only pay once,,,,,,,unless its changed. Maybe all the British pensioners in Australia should come here to get the yearly increase , not sure about the winter allowance i think we miss out on that
#9
Re: SRRV Retirement Visa
If your Filipino wife has a foreign passport she can join the SRRV as a "returning Filiipino" for something like 300$. This sum stays in the bank as a bond and there is no annual fee.
The wife is the principal Visa holder and he husband is the dependent.
The renewal is 3 years and cost is minimal for the card.
What we like about the SRRV is the community spirit, they arrange togethers at Christmas and such like.
The Filipino wife under her foreign nationality is allowed to purchase a plot of land but we found that only the Makati land office are aware of the facility and its easier to use her Filiipino nationality.
The wife is the principal Visa holder and he husband is the dependent.
The renewal is 3 years and cost is minimal for the card.
What we like about the SRRV is the community spirit, they arrange togethers at Christmas and such like.
The Filipino wife under her foreign nationality is allowed to purchase a plot of land but we found that only the Makati land office are aware of the facility and its easier to use her Filiipino nationality.
#11
Forum Regular
Thread Starter
Joined: Nov 2008
Posts: 63
Re: SRRV Retirement Visa
Sunnydays thanks for the reply that SRRV option you mention is great for married folks.However I have been married too many times and have made it clear to the g/f in the Phil that marriage is off the menu.Its a pity I shall miss-out on that huge SRRV saving.
#12
Forum Regular
Joined: Jun 2012
Posts: 228
Re: SRRV Retirement Visa
SRRV you don't need to be married no ACR no reporting to immigration first 2 months each year if you do leave in under 1 year no travel tax. Good for a single man if you can put the deposit down and not cry when you go to collect your interest....The 1 off fee you would in time pay for tourist visa to extend plus in time you have to leave yes come back next day and start again
#14
Just Joined
Joined: Dec 2013
Posts: 1
SRRV Retirement Visa. Seal from embassy London.
This may be useful to anyone seeking a seal on their "No Trace" police record doc. from the London Philippine embassy (necessary for the SRRV).
Email received 3 Dec 2013.
With reference to your email, I wish to inform you that prior to authentication by the Philippine Embassy in London, all British public documents, including police clearance certificates must have already been legalized by the British Foreign and Commonwealth Office (FCO). Please note that some documents need to be legalized first by a Notary Public before these can be legalized by the FCO. For more information on the FCOs legalization procedures, its website is www. fco.gov.uk/legalisation and contact details are TEL. NO. 037 00 00 2244; FAX NO. 01908 295122; EMAIL [email protected].
Once the documents requiring authentication have been legalized by the FCO, the fee charged by the Embassy is 18.00 (per document) payable in cash British postal money order or international bank draft to the Philippine Embassy. There is no application form required, just send the original document with one photocopy and a pre-paid self-addressed registered or special delivery envelope for its return.
Philippine Embassy
London
Email received 3 Dec 2013.
With reference to your email, I wish to inform you that prior to authentication by the Philippine Embassy in London, all British public documents, including police clearance certificates must have already been legalized by the British Foreign and Commonwealth Office (FCO). Please note that some documents need to be legalized first by a Notary Public before these can be legalized by the FCO. For more information on the FCOs legalization procedures, its website is www. fco.gov.uk/legalisation and contact details are TEL. NO. 037 00 00 2244; FAX NO. 01908 295122; EMAIL [email protected].
Once the documents requiring authentication have been legalized by the FCO, the fee charged by the Embassy is 18.00 (per document) payable in cash British postal money order or international bank draft to the Philippine Embassy. There is no application form required, just send the original document with one photocopy and a pre-paid self-addressed registered or special delivery envelope for its return.
Philippine Embassy
London
#15
BE Forum Addict
Joined: Dec 2013
Location: Consolacion,Cebu
Posts: 1,931
Re: SRRV Retirement Visa
Re exemption from UK tax for holders of SRRV. We have recently emigrated here to Cebu and before we left I corresponded with HMRC. Although there is a double taxation agreement with the Philippines it does NOT apply to any pensions classed as Government pensions. This includes State Pensions, Teachers Pensions and similar. It does apply to private pensions.
In my case I have a couple of smallish private pensions so I can apply to receive these gross BUT HMRC take tax due on my state pension from these private pensions.So the difference will not be large but still welcome!You have to have been away from UK for a full tax year in order to claim.
Yes you still get the annual increase and just last month I got the winter fuel allowance credited to my UK account even though both HMRC & DWP know we live here. Maybe next year it won't appear! I also got the 10 pound Xmas bonus!
Also you can join PhilHealth as an individual paying subscriber. This gives you various discounts on hospital treatment and may be worth it for expats who cannot afford full medical insurance. The latest cost I have is 2500 pesos a year.
Does anyone know if the Philippine government have actioned their decision to grant SRRV holders similar privileges as senior citizens? This includes 20% discount on prescriptions, free parking etc. The PRA published a notice last year that the government was going to implement this.
In my case I have a couple of smallish private pensions so I can apply to receive these gross BUT HMRC take tax due on my state pension from these private pensions.So the difference will not be large but still welcome!You have to have been away from UK for a full tax year in order to claim.
Yes you still get the annual increase and just last month I got the winter fuel allowance credited to my UK account even though both HMRC & DWP know we live here. Maybe next year it won't appear! I also got the 10 pound Xmas bonus!
Also you can join PhilHealth as an individual paying subscriber. This gives you various discounts on hospital treatment and may be worth it for expats who cannot afford full medical insurance. The latest cost I have is 2500 pesos a year.
Does anyone know if the Philippine government have actioned their decision to grant SRRV holders similar privileges as senior citizens? This includes 20% discount on prescriptions, free parking etc. The PRA published a notice last year that the government was going to implement this.