Angeles City, Philippines—Despite Typhoon Carina, the event honoring the expats must go on. This coincides with the 39th anniversary of the Philippine Retirement Authority (PRA).
The PRA commemorated its anniversary on July 24, 2024, with a grand event titled the “Multinational Peace, Friendship, and Cultural Day,” also known as Expat’s Day. The celebration, held at the Premier Ballroom on the 5th floor of the Best Western Plus Metro Clark in Angeles City, honored four decades of dedicated service to PRA members, industry partners, and stakeholders.
The event was initially set to be led by PRA General Manager/CEO Roberto Zozobrado, but despite his efforts to travel by land and air, bad weather prevented his attendance. Consequently, the Central Luzon (Clark-Subic) Satellite Office, headed by Officer-in-Charge Scarlet Sky Lachica, emphasized the PRA’s commitment to promoting peace, friendship, and cultural exchange among expatriates in the region.
The PRA, a government agency under the Department of Tourism, is dedicated to attracting foreign nationals and former Filipino citizens to retire, invest, and permanently reside in the Philippines.
Among the top foreign retirees in the Philippines are individuals from China, South Korea, India, the United States, Taiwan, and Japan.
Addressing over a hundred Special Resident Retiree’s Visa (SRRV) holders in a previous event spearheaded by Zozobrado, he urged investors to develop retirement facilities in the Philippines. He stated, “I encourage investors to build retirement facilities here, as our country, despite its numerous tourist attractions, still lacks such amenities.” He also noted that a retirement township in Medellin, Cebu, is currently under construction but is expected to take around ten years to complete. “We need more facilities, and the PRA is committed to supporting this investment opportunity,” he added.
The SRRV provides numerous advantages, including permanent residency in the Philippines, multiple-entry and exit privileges, a free PRA newsletter subscription, discounts from PRA-accredited merchants, assistance with government transactions, and PhilHealth premium entitlement. SRRV holders are also exempt from various fees and taxes, such as the Annual Alien Certificate of Registration Identity, exit/re-entry permits, customs duties on household goods up to $7,000, travel tax, and additional work/student visa or permits.
Zozobrado conveyed his appreciation to the expatriates, stating, “I am delighted that you have chosen our country over others, and we are honored to have the opportunity to serve you during your retirement years.”