Thank you for choosing the country as your second home. You truly deserve the best our islands can offer.

Being a PRA-accredited bank, we at Bank of Commerce, take pride in bringing you the generosity and hospitality that is distinctly Filipino.

Our hallmark service assures you a comfortable, worry-free sojourn in the country for a truly memorable stay. What's more, our extensive branch network allows you easy access to your finances wherever you may be.

Visit any of our branches for your Special Resident Retiree's Visa* deposit requirements and experience first-hand what we mean.

• To know more about the Retirement program, visit the Philippine Retirement Authority at 29/F Citibank Tower, 8741 Paseo de Roxas, Makati City, www.pra.gov.ph or e-mail at inquiry@pra.gov.ph

A fitting reward for your much-awaited retirement! It’s time you stop stressing and start living a blissful life. Here
are the benefits a PRA Retiree can avail of:

1. OPTION OF PERMANENT RESIDENCY - may live, retire and invest in the Philippines indefinitely;
   
2. MULTIPLE-ENTRY PRIVILEGES - may come in and go out of the Philippines, anytime;
   
3. EXEMPTED from the Bureau of Immigration Exit Clearance and Re-Entry Permits;
   
4. EXEMPTED from the Bureau of Immigration's Annual Registration requirement;
   
5. EXEMPTED from the Custom's Duties and Taxes for the importation of personal effects and householdgoods up to US$ 7,000.00;
   
6. EXEMPTED from Travel Tax, if stay in the Philippines is less than one year from the last entry date;
   
7. EXEMPTED from Special Study Permit;
   
8. ASSISTANCE in securing/obtaining documents from other Government Agencies, such as:
   
   • DOLE - Alien Employment Permit
     
   • NBI - NBI Clearance
     
   • BIR - Tax Identification Number
     
   • LTO - Driver's License
     
   • DOF - tax Exemption/Extensive Certificate
     
9. TAX-FREE remittance of Annuities and Pensions;
   
10. GUARANTEED REPATRIATION of the REQUISITE DEPOSIT still under the PRA ACCOUNT.
    
11. GREET and ASSIST at the NINOY AQUINO INTERNATIONAL AIRPORTS 1&2

 

1. With Pension – 50 years. Old and above – the required time deposit is US$10, 000.00 plus a monthly
   pension of US$800.00 for a single applicant and US$1,000.00 for couple
2. Without Pension
   
   • 35 to 49 years old – US$50, 000.00 time deposit
     
   • 50 years old and above – US$20, 000.00 time deposit
     
   • Former Filipino Citizens (at least 35 years old, regardless of the number of dependents – US$1,500.00
     
   • Ambassadors of foreign countries who served and retired in the Philippines, current and former staff
     members of international organizations including ADB - US$1,500.00
3. A resident retiree can bring with him, without additional deposit, his spouse and a child who is unmarried and below 21 years old or if the spouse is not joining, two (2) children (provided they are unmarried and under 21 years of age.) Additional children with the same qualifications may also be allowed to join the principal retiree provided there is an additional deposit of US$15,000.00 per child. The said time deposit however, is subject the same and conditions with that of the principal deposit. This does not apply to former Filipino Citizens.