Philippines Special Resident Retiree's Visa (SRRV)

The Special Resident Retiree's Visa (SRRV) is a special non-immigrant visa issued by the Bureau of Immigration and run by the Philippine Retirement Authority (PRA). It gives multiple entry and indefinite stay to foreign nationals and former Filipinos aged 40 years or older who place a dollar deposit in a Philippine bank.

Under the current rules two options take new applicants: SRRV Classic, for most foreign nationals, and SRRV Courtesy, for former Filipinos and some retired officials and high achievers. The older SRRV Smile and SRRV Human Touch options no longer take new applicants.

It suits people over 40 who want a long-term base in the Philippines without renewing a visa every few months. The deposit and annual fee make it a commitment rather than a short-stay option.

• Age: the principal applicant must be 40 years or older. Deposits are higher for applicants aged 40 to 49.
• Classic, pensioner rate: a lifetime pension of at least $800 a month for a single applicant, or $1,000 a month with dependents, qualifies for the lower deposit.
• Classic, non-pensioner: no pension is needed, but the deposit is higher.
• Courtesy: former Filipinos who have not reacquired Filipino citizenship, and retired diplomats, officers of international organizations, retired military officers and high achievers, with smaller deposits.
• Dependents: a legally married spouse and unmarried children under 21 at the time of application, legitimate or legally adopted.

The PRA checklist for the principal applicant asks for:

• the original passport with a valid tourist visa or visa-free stay
• the PRA application form and a medical certificate
• a police clearance from the country of origin or last residence
• a Bureau of Immigration clearance certificate, plus a National Bureau of Investigation (NBI) clearance for applicants who have stayed in the Philippines more than 90 days before filing
• eight 2x2-inch photos
• proof that the deposit arrived by inward remittance at a PRA-accredited bank
• proof of pension, for the pensioner rate

Dependents file their own passport, medical and clearance documents plus apostilled or authenticated proof of the relationship, such as a marriage or birth certificate.

Fees

• PRA processing fee: $1,500 for the principal, or the peso equivalent.
• Each joining dependent: $300.
• PRA annual fee: $360 a year for SRRV Classic, covering the principal and two dependents, with a smaller fee for SRRV Courtesy.

Deposit, SRRV Classic

• Aged 50 or older, with a qualifying pension: $15,000.
• Aged 50 or older, without a pension: $30,000.
• Aged 40 to 49, with a qualifying pension: $25,000.
• Aged 40 to 49, without a pension: $50,000.

The deposit covers the principal and two dependents. Each further dependent adds $15,000 to the deposit, per the PRA, except for former Filipinos.

Deposit, SRRV Courtesy

Former Filipinos: USD 1,500 (50 and over) or USD 3,000 (40 to 49). Retired diplomats, international organization officers, retired military and high achievers: USD 1,500 (50 and over) or USD 3,000 pensioner / USD 6,000 non-pensioner (40 to 49).

The deposit stays the holder's money. SRRV Classic holders may use the deposit for investments allowed under the SRRV program. Medical exams, clearances, apostilles and bank charges are extra.

With the Philippine Retirement Authority in the Philippines, while holding a valid tourist visa or visa-free stay; the deposit is remitted from a bank abroad to a PRA-accredited bank.

1. Enter the Philippines on a tourist visa or a visa-free stay.
2. Remit the deposit from a bank abroad to a PRA-accredited bank in the Philippines.
3. File the application and documents with the PRA and pay the processing fee.
4. The PRA endorses the file to the Bureau of Immigration, which issues the visa.

The PRA publishes no fixed overall processing time, and the Bureau of Immigration's step comes on top of the PRA's own review.

Length of stay: Indefinite stay with multiple entry while the deposit is maintained and annual fees are paid.

Renewal: No renewal. The visa stays valid while the holder keeps the required deposit and pays the PRA annual fee each year.

Status: The SRRV itself gives permanent residency with indefinite stay; the PRA lists it as a benefit. Legally it remains a special non-immigrant visa, not immigrant status.

Family: Yes. A spouse and unmarried children under 21 can join as dependents.

Work: Yes. The PRA lists an exemption from separate work or student visas and permits.

The PRA also lists exemptions from the Bureau of Immigration's annual report and Alien Certificate of Registration identity card, and from the travel tax.

SRRV holders are exempt from tax on pensions and annuities, and from customs duties on a one-time import of household goods up to USD 7,000.

Other income follows the general rules of the National Internal Revenue Code. Foreign nationals are taxed only on income from Philippine sources. A nonresident foreigner who stays more than 180 days in a calendar year is treated as doing business in the Philippines and taxed at regular rates on that income. Whether a foreigner counts as resident depends on residence, not a day count.

SRRV holders with income from Philippine work or business should confirm their position with the Bureau of Internal Revenue.