Alien's Special Residence Retirement Visa Conversion in the Philippines

By: Land Asia Realty And Development  09-12-2011
Keywords: Real Estate

As Land Asia is in the business of serving clients real estate needs, we are incorporating also visa conversion assistance to retiring foreigners that may wish to retire here in the Philippines.

Visa conversion is a privilege granted to foreigners who would like to have a permanent resident status in the Philippines. For investing in the Philippines, foreigners can enter and leave the country as many times and as long as one wish, including family members. With a Special Resident Visa, a holder can live, do business, study in the Philippines indefinitely.

Requirements for Special Resident Retirement Visa

Principal Applicant:

  • Application Form
  • Passport with valid entry to the Philippines
  • NBI Clearance or Police Clearance (to be authenticated by the Philippine Embassy)
  • Medical Clearance (if abroad, must be authenticated by the Philippine Embassy)
  • 6 pieces 6" x 6" pictures
  • 6 pieces 1" x 1" pictures
  • Bank Certification from an accredited bank of the Philippine Retirement Authority of bank deposit (US$ 50,000 for 50 years old & above, $75,000 for 35 to 49 years)

Processing fee: US$ 1,500

Spouse / Dependent:

  • Application Form
  • Passport with valid entry to the Philippines
  • NBI Clearance or Police Clearance (to be authenticated by the Philippine Embassy for 18 years old and above)
  • Medical Clearance (if abroad, must be authenticated by the Philippine Embassy)
  • 6 pieces 6" x 6" pictures
  • 6 pieces 1" x 1" pictures
  • Marriage Certificate (authenticated by the Philippine Embassy) for spouse.
  • Birth Certificate (authenticated by the Philippine Embassy) for dependents.

In Lieu of marriage or Birth Certificates:

  • Family Register (for Koreans)
  • Household Register (for Taiwanese)
  • Certificate of Relationship (for P.R.O.C.)

Fees:

  • Service fee of $300 each for spouse or dependent (up to 3 dependents)
  • For families with more than 3 dependents, additional $ 15,000/dependent

Immigration conversion fee:

  • Php: 7,600 for spouse and children 16 to 20 years old.
  • Php: 7,350 for children 14 to 15 years old.
  • Php: 6,850 for children 13 years old and below

PLRA ID card ($10) for spouse and/or dependent

Immigration express fee of Php 500 per person

Note: The required money (US$ 50,000 for 50 years old & above, $75,000 for 35 to 49 years) deposited in the bank can be withdrawn after 6 months but must be invested in the Philippines. It can be used to buy properties (condominiums) stocks, securities, etc.

The information in this article was current at 06 Dec 2011

Keywords: Real Estate

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