^that was posted by Tizme in 2017.
New change this year: Philippines has removed the 35-49 year old category for SRRV. Only ppl 50 years old & above can apply. The monetary requirements are still the same.
However, one cannot apply for the SRRV (retirement visa) from abroad right now and PH is not accepting foreign tourists at the moment.
^yup, correct.
SRRV = special resident retirees visa
Previously, people aged 35-49 could apply, but they had a higher monetary requirement. This was targeted to mainly Korean & American military retirees. (I think in USA, one could retire after 20 years of service? So if one entered the military at 18, he/she could retire at 38 & be eligible for the SRRV program. I think there's a similar policy for South Koreans.)
However, in recent years there have been a lot of relatively young Chinese people using the SRRV. Some Senators expressed concern over this - that it might be a security risk. There was also the issue of the Chinese working here & not paying the proper taxes. To my knowledge, the SRRV doesn't allow one to work.
So the PH govt suspended the SRRV program late last year (Sept or Oct?) - subject to review.
The SRRV program is now open again, but they've removed the option for younger retirees (35 to 49 years old). One must be 50+ y.o. to apply, and must be in-country.
There's a category of SRRV (SRRV Courtesy, I think) which is for military veterans of countries that PH has agreements with (USA, etc). The bank deposit for that one is only 1,500 usd.
The PRA (Philippine Retirement Authority) which handles the SRRV conducts zoom orientations once in a while (to my knowledge). If interested, visit their website.
Great information, thanks.
Philippines could well be the best choice for North American, British and North European people. People speak English and have open mind to foreigners. Problems are the infrastructure, or rahter lack of it - you really don't want to walk half a mile in total darkness - and crime. No guns signs outside schools tell a story that many in the US want to escape.
But considering everything, Philippines is a great place and I could live there.
Easiest place to live? In their finest hour, Thailand had it. But that's all gone. Now Philippines, Cambodia, Myanmar - Philippines for relative safety and Cambodia and Myanmar for the adventurous. Cambodia business visa compared with Thai... no contest. Malaysia is harder and Singapore is a very good first world option if you have a good well paying job and live there.
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