The Philippine Retirement Authority (PRA) has reduced the deposit requirements for “current and former staff of international organizations recognized by DFA (i.e., Department of Foreign Affairs) including ADB.” What used to be a hefty sum of $50,000 to obtain the Special Resident Retiree’s Visa (SRRV) is now only $1,500. This amount has to be deposited with one of the PRA-accredited local banks.
In return, PRA provides an unlimited resident visa for the applicant, spouse, and dependents. Applications can be online or in person at PRA’s Manila Office, 29th Floor, Citibank Tower, Makati City. Check details on PRA’s website www.pra.gov.ph. Staff who previously paid a higher amount are not entitled to the current lower amount.