Hi there bikerpat, welcome to the forum.

A good, stable income is a great start.

I would say that for someone in your situation the SRRV (Special Resident Retiree's Visa) route is probably the best option.

I'm sure you've done plenty of research, if you haven't then do it. You're considering a life-changing decision and you MUST be doing it for all the 'right' reasons.


1. Re the $10,000 I have to deposit in the bank for Srrv visa, I have already opened a bank account there with Bank of Philippines Islands.
The Dollar Time deposit must only be made in Philippine Retirement Authority PRA-Accredited Banks in the Philippines.
You can find a listing of PRA-Accredited Banks on their website here - Philippine Retirement Authority (PRA)



I understand this $10,000 is usable against condo rental?
No, not really.

Firstly, the convertibility of the time deposit into investment is only allowable after a period of 30 days from the date the SRRV gets issued.
At that time you have 3 options

1. Do not touch the money, just keep it in the USD deposit account with interest
2. Convert the Dollar time deposit to Philippine Peso time deposit for a better interest rate.
3. Convert for an active investment such as:-
a) Purchase investment in condominium (must be Ready For Occupancy) or
b) Long-term lease of house and lot, condominium or townhouse for a period not shorter than twenty (20) years.(must be Ready For Occupancy)

If you choose route 3 (a or b) you'll need to first secure permission from the PRA Board of Trustees and provide specific documentary proofs.
You also need to fully understand ALL those 'small print' clauses. Best practice is to check with the PRA for a definitive answer and be sure to get that in writing.
Just to give you a flavour of some of those 'small prints':-
- you must have a minimum of USD50,000 investment, and be registered under the PRA Classic program.
- The condo unit must be ready for occupancy and be purchased on a cash basis only
- All PRA programs (except the SRRV Courtesy Program) are subject to annual fee of USD360.00
- SRRV application fee for the principal is USD1,400
- Please see the PRA webpage here for their Schedule of Fees


2. What information have you re paying tax on my pension in Phils? Currently the Irish Revenue Commissioners deduct tax from my pensions at source. Is there some way to avoid this tax if I move to Phils or worse would I be double taxed?
Personally I can't help you with that question.
UK actually does have what is called a 'Double Taxation Agreement' with the Philippines and subject to certain conditions allows the switching of tax liability from UK to Philippines.
The benefit is that currently the tax rate on pensions within the Philippines is set to ZERO
(means for UK residents no tax payable on pensions)

Your best bet is to check with the Irish Revenue Commissioners.
At least your pension will not be subject to tax in Philippines unless the tax rate gets hiked at some point.

3. If I paid my pensions directly to BPI bank account, do I pay a tax on that?
See above. There'll be no tax to pay from BIR as long as it's pension income. Just be sure (as always) to keep your documentary evidence.

4. If I lodged a lump sum over and above the $10,000 in BPI is that taxable in Phils?
Well that all depends on a number of things including your tax status in Philippines how much you deposit, under what scheme and how BIR view any income.
I would just say to think very carefully about where you put such money.

5. What is a good and safe place to live outside Manila, preferably near the sea. Any views re condo/apartment lettings in or around the Boracay/Aklan/Bohol areas?
Have you spent time in the Philippines so that you’ll know if you’d really like to live there?
Whatever you decide, I would strongly caution against making a decision based solely on cost of living.

Plenty of good information here in the forum pages waiting for your search.

Since I don't live there I leave this for others to comment on.


6. What is the Philippine Retirement Authority all about?? Do I need to join this organisation to qualify for retirement visa?
See their website here Philippine Retirement Authority (PRA)


7. Is the retirement visa a permanent visa and is there any yearly fees to be paid to maintain the visa?
OK from the basic starting point, the SRRV is a special category of non-immigrant resident visa that allows multiple-entry and indefinite stay status.
Means reside permanently…or for as long as you want, hassle free. Exemption from the BI Exit & Re-Entry Clearances.
Also exemption from Travel Tax (as long as you didn't stay in the Philippines for more than 12 months from last entry.
Yes, to remain in the programme you will need to pay the annual fee of USD360 (think of the value of the benefits before deciding it's too much!!)

You allowed to work (just need the Alien Employment Permit (AEP) which PRA can get for you)
You can start own business. (Subject to local legal requirements PRA can help)

You can get the Tax-free importation of your household goods/personal effects (up to value of USD7,000)

It also allows the holder to certain Tax-Free incentives and privileges as well as special services and discounts/benefits from PRA partners
(Hotels, Resorts, Retirement Facilities,Restaurants etc)

There's a guaranteed repatriation of your Dollar Time Deposit if you decide to quit the scheme.
Means if you get lucky and find a wonderful lady you could get married and convert to a section 13a residence visa and get your USD10,000 back. Good luck with that option!!!

8 My budget pension wise would be about 100,000php a month.
Not sure if that's a question.
But really, no-one can tell you if that's going to be enough to support your planned lifestyle.
You'll get lots of great advice anyway
Everybody has a different view. My own (for me) is that anything above P50k will satisfy me.

Good luck