What happens if an SRRV holder passes away

Can SRRV holders open a business in the Philippines

Yes, SRRV holders are allowed to open and operate businesses in the Philippines. They must register their company with the Securities and Exchange Commission (SEC) or the Department of Trade and Industry (DTI), and comply with BIR taxation and local business permits.

Can a foreigner on SRRV buy a condominium in the Philippines
Yes, SRRV holders may purchase condominium units in their name as long as the building’s foreign ownership does not exceed 40%. This is one of the most popular investment options for retirees.

What happens if an SRRV holder passes away
If the principal SRRV holder dies, dependents may apply to convert their dependent visa into a principal SRRV or another legal visa category. The deposit may also be released to legal heirs, following PRA and bank procedures.

Are SRRV holders exempt from annual immigration reporting
Yes, SRRV visa holders are exempt from the Bureau of Immigration’s annual reporting requirement, as long as their visa is active and they maintain their PRA membership.

Can SRRV holders travel freely in and out of the Philippines
Yes, SRRV holders enjoy multiple-entry privileges and can enter or exit the country anytime without additional visa applications. However, travel tax applies if staying in the Philippines for more than one year.

Can I transfer my SRRV deposit to another bank
The SRRV deposit must remain in the PRA-accredited bank (currently DBP or LANDBANK). Transfer between accredited banks is possible only with PRA approval and for valid reasons, such as account consolidation or relocation.

Can same-sex partners apply as SRRV dependents
Yes, if the couple is legally married in a country where same-sex marriage is recognized, the spouse can be listed as a dependent under the SRRV program, subject to submission of certified marriage documents.

Are SRRV holders eligible for PhilHealth
Foreigners with SRRV visas may voluntarily enroll in the Philippine Health Insurance Corporation (PhilHealth) to access government health coverage at local hospitals and clinics.

Can I include adopted children as dependents in my SRRV
Yes, legally adopted children can be included as dependents under the SRRV, provided the adoption is recognized under Philippine law and all relevant documents are authenticated.

Is the SRRV valid for life even after many years abroad
Yes, the SRRV is a lifetime visa. Even if you stay abroad for years, you can return anytime without losing the visa, provided you maintain the deposit and remain in good standing with the PRA.

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