Share
Type of Visa: Rtirement
ReportQuestion
Please briefly explain why you feel this question should be reported.
What is a retirement visa in the Philippines?
smokeymountain
Lost your password? Please enter your email address. You will receive a link and will create a new password via email.
What is a retirement visa in the Philippines?
Answers ( 2 )
Please briefly explain why you feel this answer should be reported.
There are several different types of visa to allow you to stay in the Philippines. Retirement is one option and it has two possibilities, depending on whether you are receiving a pension or not. Both types require a bank deposit to be made. With a pension coming in you need to deposit 10k USD. Without a pension you must deposit 20K. In both cases the deposit can then be used to purchase property but you have to make the deposit, get that registered with the authorities and then use it. If you buy a property first you cannot then claim that you made the deposit earlier. It has to appear on a bank statement and be verified. When you have a retirement visa, or any visa lasting 60 days or more, you also need to register for an ACR-I card. This is a plastic ID which you are required to carry with you at all times and it will be colour coded according to your visa type. The visa and the ACR must be renewed annually and of course there is a cost for this. You can do the job yourself or you can pay an agency to do it for you, but you will pay a lot more than necessary if you do that. I have been quoted upwards of 1000 USD for this. To put that in perspective the ACR renewal is 50USD only. But it will take half a day to get through the process. You may feel 1000 is worth it in saving your time but I guarantee it’s not! Visa fees vary but expect to pay a similar amount for annual renewal.
Please briefly explain why you feel this answer should be reported.
A retirement visa is many different things to many different people. I can only speak to my experience. I was a U.S. goverment employee for 30 years and then I recieved a pension. 10 of those years was on active duty with the U.S. Navy. I came to Baguio City in the Philippines last year and submitted my application with various fees to the Local Philippine Retirement Authority office. As part of my application I deposited $1,500 (because I had military service) in a local Bank as sort of garantee that the Philippine goverment would have the money to show me the door if things when south for me. The visa I have is the Special Resident Retiree Visa. It is absoultely the BEST thing you can have if you want to live and freely come and go as you please in the Philippines with the least amount of hassle and paperwork. Hell, you could even work if you wanted to. (No need for me to work, tough.) Let’s say something horrible happens and you need to leave, no problem, just go and once things return to normal, you can come back and pick up where you left off with no administrative hoops to jump. I could go on and on, but the short verison is – IF you can qualify, you SHOULD consider it. Happy to help.