Condo Investing: What is the Philippine Retirement Authority

Mar 16, 2022

When you're in your 20s or 30s, retirement seems so far away that it doesn't seem real. It's one of the most common excuses for not saving for retirement. You may not make a lot of money when you first start, but there's one thing you have that older people don't: It's the Time. Saving for retirement becomes far more pleasurable and exciting when you have time on your side.

A government agency in the Philippines called the Philippine Retirement Authority can help you or your older relatives on the way. The Philippine Retirement Authority's mission is to promote and develop the Philippines as a retirement haven to advance the country's social and economic growth, increase its foreign exchange position, and deliver the highest quality of life to the targeted retirees in a cost-effective package.

Agencies accredit residences and condominiums, so your retirement investment is made more accessible. A Real Estate Accreditation by the Philippine Retirement Authority (PRA) means that they can be accredited as their partner retirement facility. Retirees can choose the accredited facilities as their investment.

What is a Real Estate Accreditation?

Accreditation is a formal, third-party assessment of a program's or institution's ability to fulfill set quality standards and perform particular conformity assessment activities. Testing, inspection, and certification are only a few examples of conformity assessment tasks. With PRA, accredited real estates are authorized by the agency to carry out tasks under their regulations. 

Accreditation is typically required by government agencies such as PRA to check the technical competence of organizations like laboratories, inspection bodies, and certification agencies. Building real estate departments, hospitals, schools, and police and fire agencies, among others, seek accreditation to verify their competence and reliability. 

Accreditation has been used as the gold standard for appraising organizations and institutions for more than 50 years, and it is now used by all of the world's major economies, as well as many developing nations.

With this, the PRA offers a special resident retiree's visa (SRRV) for foreign nationals who would like to retire and make the Philippines their second home as an investment destination.

SRRV Benefits:

The SRRV is a permanent visa that exempts its holders from Bureau of Immigration regulations. SRRV holders can also work, study, and invest in the Philippines. 

Stay for an indefinite period of time with various entry/exit privileges; 

Exemption from: 

• ACR-I Card from the Philippine Bureau of Immigration (Annual Report) 

• Customs duties and taxes on one-time imports of household items and personal things valued up to US$7,000.00. Tax on pensions and annuities 

• Travel Tax, if the retiree has not been in the Philippines for more than one year from the date of the last arrival. 

• Visa/Study Permit for Students 

At several Philippine airports, they have access to the Greet & Assist Program; 
PRA Newsletter subscription is free; 
Benefits from PRA-accredited Merchant Partners' discounts; 
Assistance with dealings with other government agencies is provided at no cost; 
PHILHEALTH perks and privileges are available to you.

What are the Qualifications of SRRV?

The dependent spouse must be legally married to the Principal Retiree. Principal Applicants must be foreign nationals or former Filipino citizens who are at least 50 years old. When they join the program, the children must be legitimate or lawfully adopted by the Principal Retiree, unmarried, and under the age of 21.


1. Original passport with current/updated Temporary Visitor's Visa; 

2. PRA Application Form completed; 

3. A valid medical clearance; a legitimate medical clearance; a valid medical clearance; 

4. If the applicant has been in the Philippines for more than 30 days from the last date of entrance, an original valid Police Clearance from the country of origin, as well as an extra NBI Clearance, is required. 

5. 8 photos (2′′x2′′ each); 

6. SRR Visa deposit that is remitted inwards; 

7. Fees

8. For the purpose of combining dependent spouses, a marriage certificate is required. For dependent-child enrollment, a birth certificate is required.

Here is the List of Retirement Facilities accredited by PRA, 

Retiree investors can invest in residences or condominiums with real estate accreditation by the PRA. A condo in Manila is available from several real estate developers. If you are looking for a retirement facility or a condo in Mandaluyong, you may check out PRA's official website. You may also look for Vista Residences' projects if you are looking for a condo in Pasig and other areas like Makati and Taguig.

Pinehill Condominium by Vista Residences is also one of their partnered retirement facilities. 

The Pinehill Condominium is a 12-story building with studio and one-bedroom rooms. It's far enough away from the city center to avoid the crowds and traffic. The Mansion, Wright Park, Mines View Park, Baguio Country Club, Teachers Camp, and Camp John Hay are all walking distance. Numerous pine tree reservations and a magnificent view of the mountains surround the property. 

Other condominiums around Quezon City like the Pinecrest and The Symphony Towers are also included in the retirement facilities of PRA. Along the bustling Katipunan Avenue, Vista Residences has a pre-sale project called Hawthorne Heights, a part of PRA's retirement facility. It has studio units ranging from 19.50 to 21.00 square meters and one-bedroom units ranging from 37.60 to 43.14 square meters, ideal for students and families. All of the units come completely furnished. Commercial apartments, parking units, amenities, and residential units make up this 41-story pre-selling building. 

Outside the Metro, a condo in Cebu is also accessible. Suarez Residences, a condo in Cebu by Vista Residences, is a premier mixed-use condominium that has a shopping center, hotel, and residential hub all in one tower. The 29-story towers will rise along Gorordo Avenue, providing easy access to the city's government buildings, commercial and recreational districts, office buildings, major hospitals, universities, and schools. 

It's best to start saving for retirement as soon as possible. Because compound interest is in your favor when you start early, you can afford to put away less money per month. "Getting started is the most crucial thing for Millennials regarding saving," says Stephen Rischall, co-founder of 1080 Financial Group.

For more information on Vista Residences, email [email protected], follow @VistaResidencesOfficial on Facebook, Twitter, Instagram, and YouTube, or call the Marketing Office at 0999 886 4262 / 0917 582 5167.

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