Special Resident Visas in the Philippines (SRRV & SIRV): Eligibility, Benefits, and How to Apply

Philippine legal context • Comprehensive guide • Last substantively updated: mid-2024. Rules and fees change; verify key details with the Philippine Retirement Authority (PRA), Board of Investments (BOI), and Bureau of Immigration (BI) before filing. This is general information, not legal advice.

The Landscape at a Glance

The Philippines offers two flagship “special resident” pathways for long-term stay without becoming an immigrant or citizen:

Feature	SRRV — Special Resident Retiree’s Visa	SIRV — Special Investor’s Resident Visa
Administered by	Philippine Retirement Authority (PRA) (in coordination with BI)	Board of Investments (BOI) (visa issued by BI)
Core idea	“Retire-and-reside” status in exchange for a time deposit (and, in some cases, a pension) that may be invested under specific rules	Resident status tied to an investment in BOI-registered enterprises or listed Philippine companies
Typical capital threshold	US$10,000–20,000 time deposit for most new applicants (varies by category)	US$75,000 investment (start with a bank placement then deploy into a qualifying investment)
Minimum age	Generally 50+ for new applicants (with limited courtesy categories)	No age minimum under the investment rules (subject to nationality restrictions)
Work rights	Not a work visa; business ownership/directorship allowed; employment needs a separate authority unless category grants an exception	May work in or manage the invested enterprise (subject to company and labor compliance)
Dependents	Spouse + unmarried children (often to age 21)	Same
Stay & entry	Indefinite stay while in good standing; multiple-entry	Indefinite stay while the investment is maintained; multiple-entry
Reporting	PRA membership annual fees, info updates (generally no BI Annual Report)	Usually BI Annual Report required (January–February), plus BOI confirmations on the investment
Best for	Retirees wanting low capital outlay, healthcare access, condo/lease options	Entrepreneurs and portfolio investors willing to deploy capital into Philippine enterprises

Part I — SRRV (Special Resident Retiree’s Visa)

What SRRV Is

A special non-immigrant, multiple-entry, indefinite-stay visa granted by the Philippine Retirement Authority. It’s a membership-style program: you maintain a qualifying time deposit and comply with PRA rules; in exchange, PRA facilitates your long-term stay and certain immigration conveniences.

Main SRRV Categories (most used)

Names and availability have evolved; PRA occasionally suspends or retires categories. The core mechanics below have been stable.

SRRV Classic
- Who: Generally 50+ retirees.
- Deposit:
  - US$10,000 if you can show a lifetime pension (commonly ~US$800/month for a single, ~US$1,000/month for a couple, figures vary).
  - US$20,000 if no pension (for most applicants 50+).
- Use of deposit: May be converted (subject to PRA rules/approvals) into an approved condominium purchase or long-term lease; otherwise remains as a restricted time deposit.
SRRV Courtesy / Expanded Courtesy
- Who:
  - Former Filipinos (natural-born) who have taken foreign citizenship.
  - Certain retired foreign military/diplomatic personnel.
- Deposit: Often US$1,500 (significantly reduced).
- Notes: Proof of status (e.g., PSA birth certificate for former Filipinos; service records for retirees) required.
SRRV Human Touch
- Who: Applicants 50+ needing long-term medical treatment in the Philippines.
- Deposit: Typically US$10,000 + valid health insurance + medical documentation.

Programs like “Smile” have been restricted or closed to new applicants at various times; always confirm current availability with PRA.

Baseline Eligibility (most applicants)

Age: Generally 50 years or older for new filings.
Nationality: Open to most foreign nationals (subject to foreign policy/security restrictions).
Clean record: Police clearance from country of residence and, if you’ve stayed in the Philippines long enough, NBI clearance.
Medical fitness: Basic medical exam; additional documentation for Human Touch.
Funds: Inwardly-remitted US dollar time deposit placed with a PRA-accredited bank.
Insurance: Valid health insurance (local or international) accepted by PRA.
Civil status proof: Marriage certificate for spouse; birth certificates for dependents.

Who You Can Bring

Spouse (legally married).
Unmarried children, typically under 21, including those of the principal or spouse (legitimated/adopted recognized with proper documents). Some categories allow differently; verify current PRA rules.

Key Benefits

Indefinite stay and multiple entry without frequent renewals.
PRA assistance with immigration formalities; SRRV holders are generally exempt from the BI Annual Report and Exit Clearance Certificate for ordinary departures.
Ability to open bank accounts, obtain local IDs (e.g., ACR I-Card/PRA ID), purchase condos or do long-term leases (land ownership remains restricted to Filipinos/qualified entities).
Tax position: SRRV is an immigration status only. Your tax residency depends on presence and circumstances (see “Tax” section).

Costs & Fees (typical, for planning only)

One-time application/processing: Often around US$1,400 (principal) + US$300 per dependent.
Annual PRA fee: Commonly US$360 covering principal + up to two dependents (extra dependents ~US$100 each).
Bank charges, medicals, document legalization/apostille, NBI, etc., are separate.

PRA periodically revises fees and inclusions.

Step-by-Step: SRRV Application

Choose your category (Classic, Courtesy, Human Touch) and confirm the current deposit & documentation list with PRA.
Pre-clear your documents:
- Passport (enough validity).
- Police clearance from your home/residence country (apostilled/consularized).
- Medical exam (PRA form or equivalent).
- Civil status evidence (marriage/birth certificates, apostilled).
- Health insurance proof.
Inward remittance of the time deposit to a PRA-accredited bank in the Philippines (often you’ll open the account after arrival on a tourist visa and convert status).
File with PRA: Application forms, photos, fees, bank certification of the deposit, and all supporting papers.
Clearances & BI processing: PRA coordinates issuance of the SRRV; you’ll receive your visa stamp and PRA ID (and, where applicable, ACR I-Card).
After approval:
- Keep PRA membership in good standing (pay annual PRA fee).
- Notify PRA of address/marital changes.
- Convert deposit into an approved investment only after PRA approval; maintain required minimums.

Maintaining & Using the SRRV Deposit

No unilateral withdrawals; funds are encumbered.
Conversion options commonly include condo purchase (in your name) or long-term lease; each has documentary and valuation rules.
If you divest (sell condo or end lease), you must replenish/restore the required deposit to remain compliant.

Changing/Cancelling Status

Voluntary cancellation: Secure clearances (PRA/BI, tax, bank) then release funds per PRA rules.
Involuntary loss: Criminal convictions, overstays, withdrawal or misuse of the deposit, or false statements can lead to revocation.
Dependents aging out (turning 21) may need their own status.
Death of principal: Spouse/dependents should coordinate quickly with PRA to convert or cancel status and address estate/bank release issues.

Practical Tips

Prepare apostilled civil documents before travel.
Keep consistent names across all records.
Maintain health insurance that actually covers treatment in the Philippines.
If planning a condo, verify the developer’s compliance, title status, and PRA acceptability before you convert the deposit.

Part II — SIRV (Special Investor’s Resident Visa)

What SIRV Is

A special non-immigrant resident visa tied to a capital investment in the Philippines, overseen by the Board of Investments with visas issued by the Bureau of Immigration. It’s designed to attract foreign investment.

Core Eligibility

Investment threshold: Typically US$75,000 minimum.
Qualifying placements:
- Equity in BOI-registered enterprises (new or existing), or
- Shares of Philippine Stock Exchange (PSE)-listed companies, subject to BOI rules, or
- Other BOI-approved instruments consistent with the program.
Nationality: Open to most, but restricted nationals may be ineligible or need special clearance (BOI observes foreign policy/security lists).
Clean record & medical fitness: Police/NBI clearances and medical exam.
Lawful remittance: Funds must be inwardly remitted through the Philippine banking system.

Typical SIRV Pathway (Two-Stage)

Probationary SIRV (≈6 months)
- You open a special account (commonly at a government bank) and park your US$75,000 while you finalize the target investment.
- BOI issues a probationary SIRV so you can stay, conduct due diligence, and complete the investment.
Indefinite SIRV
- After you deploy the funds into an eligible investment and submit proof, BOI endorses the conversion to indefinite SIRV.
- The visa remains valid as long as the qualifying investment is maintained.

If you fail to invest within the probationary period or divest without reinvesting within BOI’s prescribed period, the SIRV can be cancelled.

Dependents

Spouse and unmarried children under 21 may be included (standard documentary proof and clearances apply).

Work & Business

You may direct, manage, or be employed by the invested enterprise (ensure corporate, tax, and labor compliance).
For outside employment, obtain the proper ALIEN EMPLOYMENT PERMIT (AEP)/Special Work Permit, as applicable.

Compliance & Ongoing Duties

Investment maintenance: Keep holdings above the threshold and in qualified assets; report changes to BOI.
Visa compliance:
- BI Annual Report (usually every Jan–Feb).
- Keep passport/ACR I-Card current.
Reinvestment on divestment: If you sell or the company reorganizes, reinvest promptly as BOI requires to avoid cancellation.

Costs & Timelines (typical)

Government fees for BI entries/ACR I-Cards, BOI processing, bank fees, document apostilles, and clearances.
Timeline varies with due diligence, company setup, and markets; the probationary SIRV is built to bridge this window.

Investment Scope Notes

BOI may exclude activities on the Foreign Investment Negative List or sensitive sectors.
Real estate shares in PSE-listed developers may qualify; direct land ownership by foreign individuals remains restricted.
Consider corporate vehicles for governance, succession, and tax treaty access.

Immigration Mechanics You’ll Actually Feel

Multiple-entry, indefinite stay as long as you comply (both SRRV & SIRV).
ACR I-Card: Both routes lead to an Alien Certificate of Registration card; SRRV holders often rely on PRA ID/ACR combinations managed via PRA.
Annual Report:
- SRRV: Generally exempt (PRA members normally don’t line up at BI for the Jan–Feb report).
- SIRV: Required at BI.
Exit & re-entry: Routine departures typically don’t require Exit Clearance Certificates for SRRV; SIRV holders follow BI’s prevailing rules (ECC usually not needed for valid ACR holders, but exceptions exist).

Taxes (High-Level)

Visa ≠ tax status. SRRV/SIRV give you the right to stay; they do not determine how you’re taxed.
Tax residency in the Philippines depends mainly on physical presence and intention to reside. A foreigner who becomes a resident alien is typically taxed only on Philippine-sourced income; a non-resident alien engaged in trade/business (often >183 days presence in a year) is also taxed on Philippine-source income, with specific rates/withholding.
Investment income (dividends, interest, capital gains) is subject to Philippine final withholding or transaction taxes, with treaty reductions possible.
Share sales: Listed-share sales generally incur a stock transaction tax; unlisted shares and real property have distinct capital gains regimes. Action point: Coordinate early with a tax adviser on your personal presence pattern, treaty relief, and corporate structuring—especially for SIRV.

Choosing Between SRRV and SIRV

Choose SRRV if you mainly want a retirement base with lower capital and straightforward maintenance.
Choose SIRV if you’re ready to deploy US$75k+ into Philippine businesses and want hands-on management flexibility.
Former Filipinos who haven’t (or don’t want to) reacquire Philippine citizenship often find SRRV Courtesy the simplest residency bridge.
Entrepreneur couples sometimes combine: one spouse on SIRV (active investment), the other on SRRV (lifestyle/healthcare focus).

Application Checklists

SRRV (Classic) — Typical Set

Passport (6+ months validity)
PRA forms & photos
Police clearance from home/residence country (apostilled/consularized)
NBI clearance (if you’ve stayed in PH long enough before filing)
Medical exam (PRA format)
Proof of pension (if using the US$10k route)
Bank certificate of PRA time deposit (US$10k–20k) at PRA-accredited bank
Health insurance (local or international)
Marriage/birth certificates (apostilled) for dependents
Fees (application + annual PRA fee)

SIRV — Typical Set

Passport (6+ months validity)
BOI forms & photos
Police clearance (apostilled) + NBI as needed
Medical exam
Bank proof of inward remittance for US$75k (initial placement at designated bank)
Investment documentation (term sheet, BOI registration of target enterprise, or PSE broker/custody arrangements)
Corporate documents if investing via a vehicle
BI visa processing fees + ACR I-Card fees

Common Pitfalls (and How to Avoid Them)

Unapostilled civil docs → Get apostilles before traveling.
Opening the wrong bank account → Use PRA-accredited (SRRV) or BOI-designated (SIRV) channels; ordinary dollar accounts won’t qualify.
Assuming any condo qualifies → Pre-clear the property/developer with PRA before converting your SRRV deposit.
Letting dependents age out → Track birthdays; plan transitions early.
Divesting without reinvesting (SIRV) → Coordinate with BOI before selling; line up a replacement investment.
Assuming SRRV lets you work → It doesn’t by default; arrange proper work authority if you’ll be employed.
Forgetting annual obligations → PRA annual fee (SRRV) and BI Annual Report (usually for SIRV). Set reminders.

How Lawyers Typically Help

Structuring (especially for SIRV): choosing vehicles, treaty positions, and shareholder protections.
Document hygiene: apostilles, translations, name consistency.
Regulator liaison: PRA/BOI pre-clearance, category confirmation, and deposit/investment approvals.
Property diligence for SRRV deposit conversion (condo/lease).
Exit/cancellation planning (getting deposits released, tax clearances).

Final Notes & Quick Answers

Can I switch visas? Yes, with fresh filings/clearances (e.g., SRRV → SIRV or vice versa), but don’t cancel one before the other is secured unless advised.
Can a same-sex spouse be included? If the marriage is valid in the place where celebrated and documents meet Philippine rules, inclusion is commonly allowed; expect careful document review.
How long does it take? Highly variable: document collection and apostilles (weeks), bank setups (days to weeks), regulator processing (weeks).
Do I keep my citizenship? Yes; these visas don’t affect nationality. Former Filipinos may also consider reacquiring Philippine citizenship (R.A. 9225) as a separate path.

Disclaimer

This overview synthesizes commonly applied rules as of mid-2024. Specific deposit amounts, fees, categories, reporting, and investment eligibility can and do change. Before committing funds or travel, confirm current requirements with PRA, BOI, and BI, and consult qualified Philippine counsel—especially for SIRV investments and tax planning.