The Philippine Retirement Authority offers the SRRV to people who wish to retire permanently in the Philippines. These are the benefits:
1. Ability to live, work and study in the Philippines.
2. Ability to travel outside and re-enter the country at your own leisure, multiple times without the need for a permit.
3. Exemption from the following:
- Income Tax
- Travel Tax (within a one year limit from last entry date)
- Customs, duties and taxes on household goods and personal effects with a maximum value of US$7,000
- Annual registration requirement at the Bureau of Immigration
- Needing the ACR I-Card