· NextMigrate Team
Philippines SRRV: Retirement Visa Requirements, Deposit and Fees
Getting to this question means the Philippines is on your retirement shortlist and you want to know what the SRRV really asks of you. This page is for retirees weighing the deposit, not for people seeking work visas.
Imagine you are 55, with a modest pension and some savings. In most countries, a retirement visa asks you to prove a monthly income. The Philippines works differently. It asks you to park a dollar deposit in a local bank, and then it lets you stay for as long as you like.
The short answer: As of November 2026, the Philippine Retirement Authority (PRA) offers the Special Resident Retiree's Visa (SRRV) from age 40. The main option, SRRV Classic, needs a deposit of US$15,000 to US$50,000, depending on your age and whether you get a lifetime pension of at least US$800 a month (US$1,000 with dependants). You also pay a US$1,500 processing fee and a US$360 yearly fee (Philippine Retirement Authority, November 2026). The visa gives multiple entry and indefinite stay. It does not make you a citizen.
The SRRV at a glance
| Rule | Figure (checked November 2026) | Source |
|---|---|---|
| Minimum age (principal) | 40 | PRA |
| Classic deposit, age 50+, pensioner | US$15,000 | PRA |
| Classic deposit, age 50+, non-pensioner | US$30,000 | PRA |
| Classic deposit, age 40 to 49, pensioner | US$25,000 | PRA |
| Classic deposit, age 40 to 49, non-pensioner | US$50,000 | PRA |
| "Pensioner" means | Lifetime pension of US$800 a month (single) or US$1,000 (with dependants) | PRA |
| PRA processing fee | US$1,500 | PRA |
| Fee per joining dependant | US$300 | PRA |
| Classic yearly fee | US$360 (principal and 2 dependants), plus US$100 per extra dependant | PRA |
| Extra deposit per dependant beyond two | US$15,000 | PRA |
| Home bought or leased with the deposit | At least US$50,000 | PRA investment checklist |
The deposit is the big number. The fees are smaller, but the yearly fee never stops while you hold the visa.
The three SRRV options today
The PRA's page lists three options. Older options called SRRV Smile and Human Touch still appear on some PRA forms, but they are not on the current list of options (PRA, November 2026).
SRRV Classic: the option most retirees use
Classic is open to any foreign national aged 40 or over, with or without a pension. A "pensioner" must prove a lifetime pension of at least US$800 a month if single, or US$1,000 with dependants. If you meet that, your deposit is lower:
- Age 50 or over: US$15,000 with a pension, US$30,000 without.
- Age 40 to 49: US$25,000 with a pension, US$50,000 without.
Classic is also the option that lets you use the deposit for an approved investment, such as a home (see below).
SRRV Courtesy for foreign nationals
This is for special groups: retired diplomats, officers of international organisations recognised by the Department of Foreign Affairs, retired military from countries with recognised bilateral relations, and high achievers in fields like business, arts, sports or philanthropy. The deposit is US$1,500 from age 50. From 40 to 49 it is US$3,000 with a pension or US$6,000 without. The yearly fee is US$100 (PRA, November 2026).
SRRV Courtesy for former Filipinos
This is for Filipinos who became citizens of another country and have not taken back Filipino citizenship. The deposit is US$1,500 from age 50 and US$3,000 from 40 to 49. The yearly fee is US$50.
Can you get the SRRV under 50?
Yes, from 40. But it costs more. A 45-year-old with no pension needs US$50,000, which is more than three times the US$15,000 a 50-year-old pensioner needs. Under 40, the SRRV is not open to you at all (PRA, November 2026).
If you are 48 or 49, it may be worth asking yourself a simple question. Is the move urgent, or could waiting a year or two cut your deposit in half?
What the SRRV costs: a worked example
Here is our own sum from the PRA's published fees, for a single pensioner aged 55 on SRRV Classic:
- Deposit: US$15,000 (you get it back if you leave the programme)
- Processing fee: US$1,500 (paid once)
- First yearly fee: US$360
That is US$16,860 to start, of which US$1,860 is spent. Each year after, you pay US$360. A married couple aged 50 or over with no pension would need US$30,000, plus US$1,500, US$300 for the spouse and US$360, which is US$32,160 to start. Your spouse and up to one more dependant are covered by your deposit. Each dependant beyond two adds US$15,000 (PRA, November 2026).
To see how this compares with income-based visas elsewhere, try our retirement visa finder.
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What the SRRV gives you
According to the PRA, SRRV holders get (PRA, November 2026):
- Permanent residency status, with multiple entry and indefinite stay.
- No Bureau of Immigration annual report, and no need for the ACR I-Card.
- No exit and re-entry permits.
- A one-time import of household goods and personal effects free of customs duties and taxes, up to US$7,000.
- An exemption from tax on pensions and annuities, and from travel tax.
- No separate work visa or student visa needed.
- A special PhilHealth rate and discounts from PRA partner businesses.
Spouses and children can join. A spouse must be legally married to you. Children must be unmarried and under 21 when they apply.
Using the deposit to buy or lease a home
On Classic, you do not have to leave the deposit in the bank forever. After 30 days from the date your SRRV is issued, you can ask the PRA to convert it into:
- A condominium unit in your own name, worth at least US$50,000 (PRA checklist, February 2025).
- A long-term lease of a house and lot, townhouse or condo for at least 25 years, worth at least US$50,000 (PRA checklist, February 2025).
The deposit is released in pesos. The title or lease must carry a PRA note, so you need PRA approval to sell or transfer it. If your deposit is US$15,000, you must add your own money to reach US$50,000. Ask a licensed Philippine lawyer to check any property before you sign.
Health and medical rules
The PRA does not list a health insurance requirement for the SRRV. It asks for a medical certificate issued within 6 months before you apply, and dependants need a PRA medical certificate (PRA, November 2026).
That is easier than Thailand, where the long-stay O-A visa needs large insurance. But no insurance rule does not mean no insurance need. Private hospital bills can be high. Read our guide to health insurance for retirees over 75 abroad, and compare it with retiring in Thailand on a retirement visa.
Is the SRRV suspended?
Not that we could find. The PRA's advisories page, checked in November 2026, has no suspension notice. Its latest advisory, from March 2026, is about closing the Clark satellite office from 15 April 2026, with services moving to Makati and a service caravan (PRA Advisories, November 2026). The Philippine Star reported in October 2020 that new SRRV issuance was paused while the PRA reviewed its policies. The visa is listed as open on the PRA's own page today. Check the advisories page again before you send money.
How to apply, step by step
You apply inside the Philippines. The PRA asks for your passport with a valid tourist visa, valid for at least 1 month while the SRRV is processed (PRA, November 2026).
- Enter the Philippines on a tourist visa and keep it valid during processing.
- Get your documents ready. The PRA form, a medical certificate, a police clearance from your home country covering the last 6 months, a Bureau of Immigration Clearance Certificate, an NBI clearance if you have been in the Philippines over 90 days, and eight 2x2 inch photos.
- Apostille and translate. Foreign documents must be in English (or translated) and apostilled, or authenticated by a Philippine embassy.
- Send the deposit. Wire it from a bank abroad to a PRA-accredited bank, such as the Development Bank of the Philippines or PNB. Private banks need a PRA letter of introduction first.
- Pay the fees. US$1,500 processing, US$300 per dependant, and the first yearly fee.
- Prove a pension if you claim the lower deposit. Bring proof of a lifetime pension of US$800 a month (single) or US$1,000 (with dependants).
If you ever leave the programme, you can cancel the SRRV and withdraw the deposit. The PRA lists a US$10 service fee and a 500 peso Bureau of Immigration fee per member to cancel (PRA termination checklist, July 2024).
The SRRV is not a path to citizenship
The SRRV gives you residence, not a passport. Philippine naturalisation is a separate process under the Revised Naturalization Law. It needs, among other things, at least 10 years of continuous residence, reduced to 5 years only for a few groups, such as people born in the Philippines (Commonwealth Act No. 473, Supreme Court E-Library, November 2026). Years on the SRRV do not lead there by themselves. Ask a licensed Philippine lawyer if citizenship matters to you.
Tax basics
The PRA lists an exemption from tax on pensions and annuities for SRRV holders. Other income, such as Philippine rent or interest, follows normal Philippine rules. Your home country may still tax your pension too. Talk to a regulated tax adviser, and compare countries that do not tax foreign pensions. For how state pensions travel, see pension and social security portability, and Americans should read retiring abroad with US Social Security and Medicare. UK readers can check UK State Pension frozen countries.
Who the SRRV is not for
- People under 40. You cannot apply yet.
- People who need the deposit to live on. It must stay in the bank or in an approved property.
- People who want a passport. The SRRV does not lead to citizenship.
- People who need a monthly-income route. Look at Malaysia's MM2H or Bali's second home visa, and at our list of the best countries to retire abroad.
Frequently asked questions
What are the SRRV Philippines requirements?
You must be at least 40, pass a medical check and a police check, and place a dollar deposit in a PRA-accredited bank. On SRRV Classic, the deposit is US$15,000 to US$50,000, depending on your age and pension. You apply in the Philippines on a valid tourist visa.
How much does the SRRV cost?
A single pensioner aged 50 or over on Classic pays a US$15,000 refundable deposit, a US$1,500 processing fee and a US$360 yearly fee. A non-pensioner aged 50 or over needs a US$30,000 deposit. Each joining dependant adds a US$300 fee.
Can I get the SRRV if I am under 50?
Yes, from age 40. Between 40 and 49, the Classic deposit is US$25,000 with a lifetime pension of at least US$800 a month, or US$50,000 without one. Under 40, you cannot apply.
Do I need health insurance for the SRRV?
The PRA does not list a health insurance requirement. You need a medical certificate issued within 6 months before you apply. SRRV holders get a special PhilHealth rate, but private cover is still wise.
Is the SRRV suspended?
We found no suspension on the PRA's advisories page in November 2026. The PRA lists the visa as open. Check the advisories page again before you send your deposit.
Does the SRRV lead to Philippine citizenship?
No. The SRRV gives permanent residence with indefinite stay, but citizenship is a separate court process under the naturalisation law, which needs at least 10 years of residence in most cases.
Your next step
The SRRV is simple on paper: one deposit, one yearly fee, and no income test if you choose the non-pensioner rate. The hard part is deciding whether that money is better parked in Manila or working for you elsewhere.
Want to know whether the Philippines or another country fits your income, health and plans best? Take our free migration assessment.
This article is general information, not legal, immigration or tax advice. Rules and figures change. Always confirm with the Philippine Retirement Authority and a regulated adviser before you act.
