How to Apply for the Philippine Special Resident Retiree’s Visa (SRRV): Requirements, Cost, and Timeline

Jurisdiction & date note. This guide is written for the Philippines and reflects the rules and agency practices commonly in effect up to mid-2024. The Philippine Retirement Authority (PRA) and Bureau of Immigration (BI) sometimes revise categories, age limits, deposits, and fees. Treat all peso/dollar amounts as indicative and verify current figures directly with PRA before committing funds. This is general information, not legal advice.

What is the SRRV?

The Special Resident Retiree’s Visa (SRRV) is a multiple-entry, indefinite-stay visa administered by the Philippine Retirement Authority (PRA). It allows qualified foreign nationals (and certain former Filipinos) to live in the Philippines long-term, bring eligible dependents, and—subject to other rules—convert a required time deposit into approved investments (commonly a condominium or long-term leasehold).

Core benefits typically include:

Indefinite stay with multiple-entry privileges.
Exemption from several Bureau of Immigration (BI) permits that tourists need (e.g., re-entry permits, exit clearance in ordinary cases).
Ability to include a spouse and minor, unmarried children as dependents (limits/extra deposits may apply).
Option to convert the time deposit (in certain categories) into a qualifying investment after approval.
Access to some customs and travel-related concessions (subject to program rules and cut-off periods).

Who qualifies? (Eligibility snapshot)

Nationality: Most foreign nationals may apply. Former Filipino citizens have a special track (“Courtesy”).
Age: Historically 50+ for most open categories. A younger bracket existed pre-2020 but has been suspended for years. As of mid-2024, plan for 50+ unless PRA announces otherwise.
Good character: Police clearance from your country of residence/nationality; NBI clearance if you’ve stayed in the Philippines ≥30 days before filing.
Medical fitness: Basic medical exam and proof of health insurance valid in the Philippines.
Financial capability: A US-dollar time deposit in a PRA-accredited bank and/or a verifiable retirement pension (amounts vary by category).

SRRV Categories (what they mean and typical deposits)

Amounts and criteria below are long-standing baseline figures widely referenced through mid-2024. PRA can tighten, relax, or suspend categories. Always confirm current deposit levels and pension thresholds.

SRRV Classic
- For: Healthy retirees, typically 50+.
- With pension: Indicative deposit US$10,000 if you can document a monthly pension (often quoted around US$800 for a single applicant or US$1,000 for a couple).
- Without pension: Indicative deposit US$20,000.
- Conversion: After visa issuance, you may convert (part of) the deposit into an approved investment (e.g., condo title or long-term house-and-lot lease), subject to PRA rules on minimum property value and retention of a minimum balance (commonly cited as US$10,000) on the deposit. Paperwork and prior PRA approval are required.
SRRV Human Touch
- For: Retirees 50+ who require medical/clinical care.
- Indicative deposit: US$10,000, plus proof of higher monthly pension (often cited around US$1,500) and adequate health insurance. Additional medical documentation is expected.
SRRV Courtesy (Former Filipinos)
- For: Former Filipino citizens (and often their foreign spouses).
- Indicative deposit: Frequently cited at US$1,500.
- Notes: Documentary proof of former Philippine citizenship is needed (e.g., old Philippine passport, birth certificate, or reacquisition/retention documents).
SRRV Expanded Courtesy (Retired foreign military / certain allied categories)
- For: Typically 50+ retired foreign military officers (and in some implementations, retirees from certain intergovernmental organizations/foreign service).
- Indicative deposit: Commonly cited US$1,500.
- Notes: Proof of honorable discharge and pension required; country-eligibility and category scope are narrowly defined—check the latest PRA guidance.
SRRV Smile (historical)
- For: Healthy retirees (younger bracket) with a US$20,000 deposit and no pension requirement.
- Status: Widely reported as suspended since the 2020 program review; do not assume availability unless PRA reinstates it.

Dependents & extra deposits. PRA has long applied specific rules on who counts as a dependent (spouse and unmarried children under 21; step/adopted children require legal proof) and whether additional deposit (often cited as US$15,000 per extra dependent) is needed. These thresholds and “how many dependents are covered” rules can vary by category and period—confirm with PRA before wiring funds.

Costs & recurring fees (typical line-items)

PRA one-time processing fee: historically around US$1,400 for the principal + US$300 per dependent.
Annual PRA fee (APAF): commonly US$360 per year (covers principal + up to a set number of dependents), with an added fee per extra dependent (often cited ~US$100).
Bank fees: International wire charges, bank service fees on the time deposit, possible currency conversion costs if remitting in non-USD.
Philippine clearances & exams: Medical exam (local clinic/hospital), NBI fee if applicable.
Document legalization: Apostille (Philippines is a Hague Apostille Party) or consular authentication as required.
Photographs, photocopies, translations (if any), courier costs.
Property or lease costs if you convert the deposit to investment (title/transfer taxes, condo dues, notarial and registration fees).

Taxes. SRRV does not by itself exempt you from Philippine taxes on Philippine-sourced income. Foreign-sourced income is generally not taxed in the Philippines for aliens (resident or non-resident), but Philippine-sourced income (e.g., local rentals, business profits, employment) is taxable. Your tax status (resident vs non-resident alien) typically depends on days of physical presence in the Philippines. Obtain professional tax advice for your specific facts.

Step-by-step application process

1) Decide your category and map your funding

Confirm you meet any age and pension thresholds.
Decide if you plan to keep the deposit in the bank or convert it later to an investment (Classic route).

2) Prepare your documents

Expect (titles may vary):

Passport (with ample validity and visa pages).
Police clearance (home country / country of residence), apostilled. Time-limit typical (e.g., 6 months) at filing.
NBI clearance if you’ve been in the Philippines 30+ days before filing.
Medical examination report on PRA form or from a DOH-accredited facility.
Proof of pension (if your category requires it): pension statements, bank crediting history.
Proof of relationship for dependents: marriage certificate; birth certificates for children; adoption decrees as applicable—apostilled.
Health insurance accepted in the Philippines.
PRA application forms, data/privacy scripts, and ID photos to spec.

Apostille tip. Make sure names, dates, and numbers match your passport exactly. Any discrepancies (accent marks, middle names, suffixes) should be reconciled with affidavits or corrected civil registry documents before filing.

3) Place the SRRV Time Deposit

Remit the US-dollar deposit to a PRA-accredited bank (e.g., state-owned banks historically used by PRA). Use the exact reference details provided by PRA/your handler.
Keep SWIFT/remittance proofs and bank certifications showing the funds are under the PRA hold.

4) Submit your PRA application

Pay the processing fee.
PRA reviews completeness and may coordinate with BI for clearance/visa issuance.
Keep your temporary status (e.g., 9(a) tourist) valid during processing by timely extensions.

5) Approval, SRRV issuance & card

On approval, PRA/BI will endorse issuance of the SRRV stamp/sticker and a PRA ID (SRRV card).
You then enjoy the SRRV privileges; if using the Classic conversion path, you can start the deposit-to-investment process after PRA’s written go-signal.

Converting the deposit to a qualifying investment (SRRV Classic)

Why convert? Many retirees prefer to place funds into a condo or long lease instead of leaving everything idle in a time deposit.

Typical pathway:

Choose qualifying asset (commonly a condominium titled in your name; foreigners cannot own land, so for houses you’re generally looking at a long-term lease such as 50 years renewable by 25).
Show minimum asset value (PRA has historically required a minimum property value—commonly cited is US$50,000—and a minimum deposit retention (often US$10,000) remaining with the bank).
Secure PRA pre-approval before any release of funds from the time deposit.
Submit title/lease and tax proofs (e.g., condo Transfer Certificate of Title in your name, tax declarations, receipts).
Bank releases the convertible portion directly for the purchase when PRA authorizes it. You generally can’t use the deposit as personal cash; it moves from the PRA hold to the investment seller under PRA control.

Heads-up: Allowed investments and mechanics are policy-sensitive. Get PRA’s written confirmation on your intended asset before you pay reservations or sign deeds.

Rights, limits, and practical life admin

Stay & reentry. You may reside in the Philippines indefinitely and re-enter freely while your SRRV remains in good standing (deposit/fees maintained and no disqualifying events).
BI annual report. SRRV holders are typically exempt from the BI Annual Report required of many aliens, but you must keep your PRA annual fee current and update personal data when it changes.
Work & business. The SRRV itself does not automatically grant the right to work. To take up employment, you normally need a separate Alien Employment Permit (AEP) and possibly additional immigration endorsements depending on your setup. Owning shares in a Philippine corporation is generally permitted (respecting constitutional foreign ownership caps—e.g., 40% on companies owning land).
Property ownership. Foreigners may own condominium units (subject to the 60/40 Filipino/foreign ownership ratio at the building level); they may not own land, but may enter long-term leases.
Importation of household goods. SRRV historically allowed one-time duty-free import of household goods up to a capped value (commonly cited as US$7,000) within a fixed window after issuance. Verify the current cap and deadline before shipping.
Driver’s license & banking. The SRRV card and passport usually suffice to obtain an LTO driver’s license and to open local bank accounts (each bank’s compliance rules vary).
Tax residency & double tax. Spending >180 days in a calendar year often makes you a resident alien for Philippine tax purposes (still taxed only on Philippine-sourced income). Consider tax treaty relief where relevant and keep precise day-counts.

Timeline: what’s realistic?

Assuming documents are ready and apostilled:

Document prep (abroad): 2–8 weeks (police clearance, apostille, pension proofs).
Deposit remittance: 1–5 banking days (plus time for bank certification).
Local clearances & medical: 3–10 business days.
PRA/BI processing: ~2–4 weeks after complete filing is accepted.
Card issuance/logistics: ~1–3 weeks.

Typical end-to-end: 4–8 weeks for well-prepared cases; 2–3 months (or more) is common if documents need correction, translations, or if offices have backlogs.

Common pitfalls (and how to avoid them)

Mismatched names/dates between passport and civil documents → fix or explain before apostille.
Expired police clearance by filing date → time your application so validity windows don’t lapse.
Banking channel errors (wrong reference, non-USD remittance) → use PRA’s exact instructions and keep SWIFT proofs.
Paying property reservations before PRA confirms convertibility → get written PRA clearance first.
Assuming a suspended category (e.g., SRRV Smile or under-50 variants) still exists → do not rely on old blog posts; check current PRA advisories.
Letting the annual PRA fee lapse → can lead to penalties or status issues.

Documents checklist (indicative)

Passport (original + data-page copies).
PRA application forms and privacy/consent forms.
Proof of SRRV Time Deposit (bank certificate under PRA hold).
Police clearance (apostilled); NBI if in PH ≥30 days pre-filing.
Medical exam report (PRA form or DOH-accredited facility).
Health insurance (policy/certificate of coverage).
Pension proofs (if your category requires it).
Dependents’ proof: marriage certificate; birth/adoption certificates (apostilled); passport copies.
ID photos to spec.
Payment receipts (processing fee; later, APAF).

Bringing family members

Spouse and unmarried children under 21 may usually be included.
Extra deposit may be required per additional dependent (commonly cited US$15,000), depending on your category.
Step/adopted children require final adoption orders or guardianship papers (apostilled).
School-age children will need the usual enrolment documents and, in some cases, a Special Study Permit (if they’re foreign nationals), issued separately by BI.

Changing category, suspending, or cancelling

Upgrading/downgrading (e.g., Classic → Courtesy after reacquiring PH citizenship; or moving from deposit-only to converted investment) is often possible on written request, updated proofs, and payment of any differential fees.
Voluntary cancellation/exit: Apply with PRA, settle dues, and obtain written authority to release the deposit. Banks usually release after PRA/BI clearances—expect several weeks.
Grounds for revocation: Fraud/misrepresentation, criminal issues, withdrawal of the deposit without authorization, or failure to maintain required insurance/fees.

Budgeting example (single applicant, Classic w/ pension) — illustrative only

PRA processing fee (principal): US$1,400
Annual PRA fee (APAF): US$360 / year
Time deposit: US$10,000 (kept or later converted—subject to rules)
Police clearance + apostille, medical exam, NBI: US$150–350
Bank/wire fees: US$40–120
Contingency (translations, extra copies, notarizations): US$100–300

Practical tips

Start with documents that take longest (police clearance, apostille).
Keep digital scans of every page you submit; label files consistently.
Stay on a valid visa (tourist 9(a) or otherwise) while your SRRV is pending.
Health insurance with PH coverage is essential—pre-clear plan terms (inpatient limits, age caps).
Ask PRA in writing about any unusual family situation or investment plan before moving money.

Final word

The SRRV remains one of Southeast Asia’s most straightforward retirement residence programs, but the details move—especially category availability, minimum age, and deposit thresholds. Before you wire funds or sign property documents, obtain PRA’s current written requirements for your exact category and family composition.

If you’d like, tell me your category (Classic with/without pension, Courtesy, or Human Touch), your dependents, and whether you plan to convert the deposit. I can draft a personalized, itemized checklist and timeline based on the above framework.