Special Resident Retiree’s Visa (SRRV) — Application Requirements for Retirees in the Philippines (Comprehensive Legal Guide, 2025 Edition)
1. Legal Foundations
| Instrument | Key Points |
|---|---|
| Executive Order (EO) 1037 (1985) | Created the Philippine Retirement Authority (PRA) and authorized issuance of the SRRV. |
| EO 26 (1993) | Liberalized age and deposit rules; allowed investment of the visa deposit in government‐approved projects. |
| Bureau of Immigration (BI) – PRA Joint Implementing Rules | Align SRRV privileges with BI entry/exit controls and annual alien reporting. |
| Republic Act 7042 (Foreign Investments Act) & Constitution (Art. XII) | Cap foreign ownership of land at 40%; affects how SRRV holders may invest their visa deposit in real property. |
| Data Privacy Act (2012) & Anti–Money Laundering Act (AML) | Govern handling of personal data and remittance of the dollar‐time deposit. |
Practice tip: Cite these instruments in your cover letter or compliance memo to show familiarity with the regulatory ecosystem.
2. SRRV Packages & Who Qualifies
| Package | Eligible Age | Dollar Time-Deposit (TD) at PRA-accredited bank * | Pension Requirement (if any) | Typical User |
|---|---|---|---|---|
| SRRV Classic – Smile | 35 + | US $50,000 (35-49 yrs) | US $20,000 (50 +) | None | Early retirees investing in condo/house later. |
| SRRV Classic – Lifestyle/Pension | 50 + | US $10,000 | Proven monthly pension ≥ US $800 (single) / US $1,000 (couple) | Retirees with steady pension stream. |
| SRRV Courtesy | 50 + former Filipino / ex‐service diplomats | US $1,500 | None | Balikbayans, former Fil-citizens. |
| SRRV Expanded Courtesy | 50 + retired foreign military officers | US $1,500 | Monthly pension ≥ US $1,000 | U.S., JGSDF, ROK veterans, etc. |
| SRRV Human Touch | 35 + with chronic/terminal illness | US $10,000 | Monthly pension ≥ US $1,500 and PhilHealth/HMO coverage | Medical retirees needing Philippine care. |
* Amounts are principal; dependants add +US $15,000 each (not required for Courtesy variants).
3. Core Documentary Requirements (All Packages)
| Category | Specific Documents | Formalities |
|---|---|---|
| Identity & Travel | - Passport, valid ≥ 1 yr; - Latest visa stamp (if already in PH) |
Photocopy all visa pages; notarize if submitted by representative. |
| Background Check | - National Police Clearance from country of residence (apostilled/consularized, issued ≤ 6 mo); - NBI Clearance if in PH ≥ 6 mo. |
Submit in original; electronic copies not accepted. |
| Medical | - PRA Form 002 (Medical Exam Report); - Chest X-ray plate or radiologist’s report; - HIV, Hep-B, Hep-C serology. |
Must be signed by a licensed Philippine physician; foreigners may submit overseas report plus local “Fit-to-Enter” counter-sign & license seal. |
| Financial | - Proof of inward remittance (SWIFT advice or bank certificate) for TD; - Pension proof (bank slips or SSA/VA letter) if applicable. |
Bank certificate must specify “For SRRV under PRA”—required by AML rules. |
| Application Forms & Photos | - PRA Form 001 (SRRV Application); - PRA Deposit Acknowledgment; - 12 pcs. 2×2 photos, white background. |
Sign all pages; photo back-printed with name & signature. |
| Legal Undertakings | - Affidavit of Support for dependants; - Marriage & Birth Certificates (PSA or apostilled foreign copies). |
Filipino spouse’s PSA copy suffices; foreign certificates must be apostilled. |
| Fees | - One-Time Repatriation & Processing: US $1,400 principal + US $300/dependant; - Annual PRA Membership: US $360 per family. |
Cash, USD draft, or peso equivalent at PRA cashier. |
4. Application Flow
- Pre-Entry (optional): Open a PRA-accredited TD account remotely; wire the dollar deposit under the applicant’s name with “for SRRV” notation.
- Entry to the Philippines: Arrive on tourist Visa-Waiver (EO 408) or 9(a). SRRV applicants are exempt from overstaying fines once the PRA letter of acceptance is issued.
- Appointment & File Review: Book online through the PRA “e-Appointment” portal, submit physical dossier at PRA One-Stop Shop (OSS), SM Mall of Asia Complex, Pasay City or Cebu/Davao satellite.
- Medical & NBI Routing: PRA counter-staff issue LOEs (letters of endorsement) to partner clinics and NBI. Results feed back electronically to the OSS.
- Bank Certification & Deposit Hold: Within five (5) banking days after PRA acceptance, present your TD certificate to PRA Finance Division.
- BI Side-Channeling & Visa Stamping: PRA transmits your record to the BI SRRV Unit; you surrender your passport for SRRV sticker insertion (usually 5–7 working days).
- Induction & PRA ID Card Release: Attend the mandatory “PRA 101” orientation; sign the PRA Code of Conduct; receive SRRV ID valid for one (1) year, renewable annually.
Time-frame: Average 15–20 working days from complete filing to SRRV issuance (excluding delays for NBI hits or apostille deficiencies).
5. Post-Approval Obligations
| Obligation | Frequency | Mechanics |
|---|---|---|
| Annual PRA Membership Fee | Yearly | Pay US $360 (covers principal + dependants). |
| Annual Alien Registration / BI Report | January–March | Free of charge for SRRV; report via PRA OSS to avoid BI queues. |
| TD to Investment Conversion (Classic only) | Within 30 days of property purchase | Submit Deed of Sale, TCT/CCT in owner’s name, PRA Inspection Report; minimum conversion value = TD principal. |
| Change of Address / Civil Status | Within 10 days of event | File PRA Form 005 with supporting documents. |
| Exit & Re-Entry | Multiple | Present SRRV ID + passport; SRRV holders are exempt from Philippine Travel Tax if stay abroad ≤ 1 yr. |
Failing to comply may trigger cancellation, forfeiture of deposit, and inclusion in BI “watchlist.”
6. Rights, Benefits & Limitations
- Residency: Indefinite stay with multiple‐entry privileges.
- Tax: Exempt from Philippine customs duties on one-time importation of household goods (≤ US $7,000 CIF). Retirement pensions remitted to PH enjoy tax-free status under BIR RMC 31-2015.
- Work: No automatic right to engage in employment or foreign services; must secure AEP + 9(g) conversion if taking up local employment.
- Land Ownership: Same 40 % constitutional limit; can, however, lease land long-term (25 + 25 yrs). Condominium ownership is unrestricted by nationality quotas where project remains ≤ 40 % foreign‐owned overall.
- Dependants: Spouse and up to two children < 21 yrs (unmarried), or 21–25 yrs if enrolled full-time; additional child incurs extra TD.
- Firearms: Prohibited under RA 10591 §12(j).
- Voting: Not entitled to participate in Philippine elections.
7. Checklist (Print & Tick)
- Passport valid ≥ 12 months
- For dependants: passports + birth/marriage certs apostilled
- Police clearance (apostilled) issued within last 6 months
- Medical cert on PRA Form 002 (local MD)
- Twelve (12) recent 2×2 photos
- Bank inward remittance slip or existing TD certificate
- Proof of pension (if Classic-Lifestyle, Courtesy, Human Touch)
- Application fee: US $1,400 + dependants
- PRA Forms 001, 002, 003 duly signed
- Cover letter citing EO 1037 & EO 26 compliance
- Bank certificate endorsed to PRA Finance
8. Common Pitfalls & How to Avoid Them
| Pitfall | Prevention |
|---|---|
| Apostille/consularization errors | Verify Hague status of issuing country; staple apostille to original. |
| Using TD deposit as spending money | Deposit is encumbered; withdrawal before conversion or cancellation will nullify visa. |
| Under-declared pension | PRA cross-checks bank entries; present 6-month remittance history. |
| Late annual fee | Set calendar reminder; PRA imposes surcharge after 90 days. |
| Assuming SRRV equals Philippine citizenship | It does not waive foreign exchange controls or constitutional nationality limits. |
9. Frequently Asked Questions
Q1. Can I include my 26-year-old son? A. No. Dependants must be < 21, or up to 25 if enrolled as full-time students.
Q2. May I work remotely for my foreign employer? A. Yes, so long as the service is rendered outside the Philippine labor market (i.e., paid overseas) and no local hires or Philippine clients are involved.
Q3. Is the deposit safe? A. PRA requires placement in BSP-supervised banks (e.g., DBP, PNB); deposits enjoy PDIC insurance up to PHP 500k, and contractual safekeeping under EO 26.
Q4. What happens if I marry a Filipino? A. You may convert to a 13(a) immigrant visa, cancel the SRRV, and reclaim the full TD (less bank charges).
Q5. Can the deposit earn interest? A. Yes. Time-deposit interest accrues to your account, taxable at 15 % final withholding per NIRC §24(B)(1).
10. Final Word & Disclaimer
This article synthesizes the latest publicly released PRA manuals, BI circulars, and executive issuances up to June 9 2025 (Asia/Manila). The PRA periodically re-prices deposits and fees and may suspend packages (e.g., the 2020 pause on the 35-49 age band). Always secure a written fee quote and checklist from the PRA before remitting funds. For binding advice, consult a Philippine immigration lawyer or a PRA-accredited Marketing Partner.
Prepared by: [Your Name], Philippine immigration and investment counsel