Sen. Loren Legarda —Senate Public Relations and Information Bureau
MANILA, Philippines — Sen. Loren Legarda has called on the Philippine Retirement Authority (PRA) to review its policy of allowing retired foreigners to stay legally and indefinitely in the country for fees ranging from US$20,000 (around P1.1 million) to US$800 (around P45,000) saying the amounts were too small and open the door to criminal syndicates exploiting the regulation.
“I think this should be reviewed … this should be updated,” Legarda said during the Senate finance subcommittee hearing on next year’s proposed P3.394-billion budget of the Department of Tourism (DOT) and its attached agencies, including PRA.
READ: Sen. Binay presses need to review retirees’ visa
The senator also urged the PRA to verify and check the background of foreign nationals who signify their intention to make the Philippines their new home through the Special Resident Retiree Visas (SRRVs).
Based on the PRA website, foreign applicants aged 50 and above without a pension were required to pay a visa deposit of US$20,000, which they could use to buy a condominium unit or rent a house.
For those with pensions ranging from US$800 to US$1,200, PRA general manager Roberto Zozobrado said they must pay US$10,000.
Single applicants and those with dependents will be charged US$800 and US$1,000 monthly.
Benefit
For former Filipino citizens or foreign nationals aged 50 and above who served in the country as ambassadors or diplomats, the visa deposit is US$1,500, he added.
“That’s all they need. It’s a nonimmigrant visa that they get and they can stay for as long as they want, unless they want to change their status and go back to their countries. The benefit they get is they can enter and [leave] the country,” Zozobrado said.
Legarda, who chaired the subcommittee, noted that “this could be the reason why [there are] so many syndicates in the country,” adding: “No wonder … I don’t think that the figures are updated.”
“It’s a balancing act between attracting retirees and security issues brought about by foreign nationals who do criminal activities in our country .., security issues emanating from our porous borders … Imagine for only P1.5 million, they can legally stay here,” she said.
Zozobrado noted that there were around 58,000 foreigners, mostly from China and South Korea, who have retired in the Philippines since 1997.
Sought for comment, Tourism Secretary Christina Frasco said the DOT “fully supports President Marcos’ position of defending the sovereignty and security of our nation.”
Safeguards in place
She added that “security blankets” were in place to ensure that syndicates do not exploit this type of visa.
While assuring the Senate that the PRA would revisit its policies and update the fees being charged, Zozobrado said they also require foreign nationals to secure a police clearance from their country of origin.
In addition, the PRA has access to the database of the International Criminal Police Organization to check the profiles and backgrounds of foreign retirees, according to him.