They are missing the complete fun of their lives by not registering as permanent resident aliens in Dujmaguete through a special non-immigrant Visa , noting that only 374 out of an estimated 3,000 foreign residents in Negros Oriental are accounted for by the Philippine Retirement Authority.
This prompted the big wigs of the PRA to fly into town and announce incentives to expatriates and retirees about attractive packages for them (aside from simply retiring with some native partner and come and go out of the country)
In fairness to Dumaguete City, which has been established as peaceful and a most conducive place to retire, many of the alien retirees prefer to live in the rustic ambiance in the countryside.
You can see them enjoy either the bounties of inland Nature, or quietly savouring the sandy beaches of Negros.
Duly registered foreign Retirees can now gainfully make use of their retirement funds and can now invest here with a corporate 60-40 sharing in the return of investment. They can build their houses and businesses without fear of being abandoned due to domestic problems.
The SRRV is a lifetime visa and its holders are exempt from Bureau of Immigration requirements. SRRV-holders are also eligible to work, study or invest in the Philippines.
All they have to do is register with the PRA, comply with simple reqjirements and be educated about its operation.
According to the PRA (SRRV) is a special non-immigrant visa for foreign nationals who would like to make the Philippines their second home or investment destination.
As holders of SRRRV, retirees can enjoy indefinite stay with multiple-entry/exit privileges; exemption from customs duties & taxes for one time importation of household goods & personal effects worth up to US$7,000.00 Tax from pensions & annuities; exemption from the Bureau of Immigration ACR I-Card; conversion of the requisite deposit ranging from $ 10, 000 up to $ 50, 000 into active investments under the retiree’s name; pensions and annuities remitted to the Philippines are tax-free; exemption from securing the student’s visa study permit; free assistance in securing documents from other government agencies, among other benefits.
This prompted the City Government and the PRA to establish a HELP DESK with a trained staff who could be tapped to campaign and increase registration of alien retirees through a Memorandum of Agreement that Mayor Felipe Antonio Remollo and PRA General Manager and CEO Bienvenido K. Chy signed in the presence city officials.
Pursuant to the newly forged MOA, a PRA help desk will be established at the City Tourism Office that will offer assistance and services to potential and existing clients, partners and other stakeholders.
It is expected that with this partnership, accreditation of more local business establishments, retirement facilities and other service providers is expected as an outcome concurrent with the possible surge of foreign and local retirees.
In 2018, PRA deemed the City of Dumaguete as the Best Place to Retire in the Philippines as it scored 97.48 in accordance with the criteria set by international organizations like the United Nations, World Health Organization and International Living.
The MOA signing paves the way for a stronger tie and long-term partnership as both PRA and the City are expecting the influx and registration of retirees who would like to become permanent residents in Dumaguete City and Negros Oriental without necessarily giving up their citizenship.