Retirement Law In The Philippines In Palm Beach
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FAQ
There are several programs available for emigrating to the Philippines, but the easiest one to go through as a senior US citizen is to apply for a Special Resident Retiree's Visa (SRRV).
RA No. 7641, commonly known as the Retirement Law, grants an employee retirement benefits upon reaching the age of 60 years but not beyond 65 years, which is the compulsory retirement age, provided such employee has served at least five years and the retirement benefits are availed of only once.
The visa deposit is US$1,500.00 Applicants under SRRV Expanded Courtesy must be at least 50 years old, receiving a monthly pension of at least US$1,000 and must remit a visa deposit of US$1,500.00.
There is a particular visa for international retirees called the Special Resident Retiree's Visa (SRRV), which requires you to meet the following criteria: 50 years of age minimum. Proof of a pension above $800 per month (Social Security benefits included). Deposit a minimum of $10,000 into a Filipino bank account.
