The Philippine Retirement Authority (PRA) today suspended the issuance of special visas for foreign retirees amid the ongoing review of its policies.
The PRA issued an advisory saying that beginning Oct. 23, it will not accept and process applications for new Special Retirees Residence Visa (SRRV) in its head and satellite offices.
PRA General Manager and Chief Executive Officer Bienvenido Chy said the suspension takes effect "until further notice" and "pending the ongoing review of the SRRV programs and the Authority's compliance with the directives set forth by the PRA's Board of Trustees."
Tourism Secretary Bernadette Romulo-Puyat, PRA Board of Trustees head, directed the agency to implement "an enhanced program to regularly monitor the profile and activities of active SRRV holders in coordination with other government agencies, such as the Bureau of Immigration (BI), Department of Justice, and the Department of Labor and Employment."
The DoT also ordered the PRA coordinate with the Tourism Promotions Board (TPB) to formulate its marketing and product development plans and the benchmarking of its retirement program with other countries.
Pending the compliance of the PRA, the DoT assured that SRRVs will not be issued to foreign nationals.
The PRA Board met earlier in the day to discuss the agency's policies in accepting foreign immigrants as retirees which had alarmed lawmakers.
Chy told senators during a budget hearing last Oct. 19 that the agency has been accepting foreign immigrants as retirees as young as 35. The PRA later said this policy had been implemented since 1993.
Under existing PRA policies, foreigners aged 35- to 49-years-old and wish to make the Philippines as a retirement or investment destination must secure an SRRV which would allow them the indefinite stay in the country with multiple entry and exit privileges.
Those granted SRRV are also entitled to other benefits such as exemption from Customs duties and taxes for a one-time importation of household and personal goods as well as travel tax.
They are also allowed to study in the Philippines.
PRA data said 27,678 or about 40 percent of the total foreign retirees in the country are Chinese nationals. It also showed that Chinese nationals likewise top the list of foreign retirees who belong in the 35- to 49-years-old age bracket.
Senators saw this as a national security concern amid the Philippine's territorial dispute with China, and a possible breach of labor laws for their possible engagement in offshore gambling operations.
"Having 27, 000 Chinese nationals retiring, with the average age of 35, that should be a red flag for our national security...If they are here illegally or through corrupt practices, they are undesirable aliens and should be deported," Sen. Francis Pangilinan tweeted today.