The Philippine Retirement Authority (PRA) is a government owned and controlled corporation established in 1985, under Executive Order 1037. Its vision is to make the Philippines a globally competitive and preferred retirement destination in Asia. And its mission is to provide excellent and world class services centered towards customer-valued quality of life that is easy, pleasant and beneficial to foreign retirees and global Filipinos, as a channel of accelerating the socio-economic development of the country.

The PRA offers the Special Resident Retiree’s Visa (SRRV) to qualified foreign retiree-enrollees to the program. The SRRV is a lifetime visa that allows the holder to permanently reside, gain employment or study in the Philippines. It also grants the holder to have multiple entry to the Philippines at any time. It likewise provides exemptions from income tax over the members’ pension and annuities, and specific customs duties and taxes.

Aside from its aggressive promotions to entice foreigners to retire and invest in the country, the PRA likewise has partnered with its various industry stakeholders, both locally and offshore. This partnership hopes to offer an excellent opportunity for foreign investors to venture in setting up a global retirement facility that would showcase the country’s retirement industry. An investment in this facility that would bring our world-class medical services and care to the retirees aims to boost the country’s image as the premiere retirement destination.

The PRA currently adopts a more wholistic approach to its marketing and service to its retirees. It also consolidates the participation various government agencies and private sector partners in the retirement industry.



Business Opportunities in the Retirement Industry

• I. As a foreign retiree-member
  • ISSUANCE OF SPECIAL RESIDENT RETIREES VISA
  • MULTIPLE-ENTRY PRIVILEGES
  • EXEMPTED from the Bureau of Immigration Exit Clearance and Re-entry Permits;
  • EXEMPTED from the Bureau of Immigration's Annual Registration requirement;
  • EXEMPTED from the Bureau of Immigration's I-Card
  • EXEMPTED from the Custom's Duties and Taxes for the importation of personal effects and household goods up to US$7,000.00;
  • EXEMPTED from Travel Tax, if stay in the Philippines is less than one year from the last entry date;
  • EXEMPTED from Student Visa (Dependent-members)
  • TAX-FREE remittance of Annuities and Pensions;
  • REPATRIATION of the Requisite Deposit still under the PRA Account.


• II. As an Accredited Marketer
  • An Accredited MARKETER of the PHILIPPINE RETIREMENT AUTHORITY shall promote the retirement programs and inform all applicants of the rules, regulations & existing policies of the Authority.
  • BENEFITS:
    - US$500.00 commission for every SRRV Principal Retiree enrolled into the program
    - Discount/Privileges from PRA accredited Merchant Partners


• III. As an Accredited and Participating Business Partner
  • Merchant Partner
  • Service Provider
  
  
  • An Accredited Merchant Partner of the PHILIPPINE RETIREMENT AUTHORITY shall manifest its willingness to enroll its products/services in the list of establishments/companies offering discount/privileges to PRA cardholders who will be acknowledged through the use of PRA ID Cards issued to members, marketers and employees of the PRA.
  
  
  • BENEFITS/Advantages:
        Be advertised for Free
  • Service Provider


• IV. As an Investor
  • Foreign Investors are encouraged to venture in setting up a global retirement facility. Investment in such may avail and enjoy several government incentives. This includes:
  • SALIENT FEATURES OF PEZA RESOLUTION NO. 06513
    - Discount/Privileges from PRA accredited Merchant Partners

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