The Special Resident Retiree’s Visa (SRRV) is designed to attract foreign nationals and former Filipino citizens to make the Philippines their second home or retirement destination.
The SRRVisa is the Philippine Retirement Authority’s core product, offering multiple-entry privileges and an indefinite stay in the country, along with various other benefits for retirees.
This comprehensive visa program has been operational since 1993, though it has undergone several policy changes over the years to serve the retiree community better.
If you are looking to invest as an expat or high-net-worth individual, you can email me (hello@adamfayed.com) or WhatsApp (+44-7393-450-837).
Esto incluye si busca una cartera de expatriados gratuita revise para optimizar sus inversiones e identificar perspectivas de crecimiento.
Algunos hechos podrían cambiar desde el momento de la redacción. Nada de lo aquí escrito constituye asesoramiento financiero, jurídico, fiscal ni de ningún tipo, ni es una invitación a invertir ni una recomendación de ningún producto o servicio específico.
What Are the Requirements for Retirement in the Philippines?
As per the Philippine Retirement Authority (PRA), there are two different types of SRRVisa options, namely:
- SRRV Classic
- SRRV Courtesy
This specialized visa program was established under Order 1037 (July 4, 1985).
SRRV Classic
Under this program, active/healthy retirees must use their visa deposit for either buying a condominium unit or leasing a house/lot for the long term.
The visa deposit must be at least:
- USD 20,000 for applicants of 50 years or older without a pension
- USD 10,000 for applicants of 50 years or older with an active pension
- USD 800 per month for single applicants
- USD 1,000 per month for applicants with dependents
SRRV Courtesy
This visa is specified for former Filipinos or foreigners, both aged 50 years or above. They must have served as ambassadors or diplomats in the Philippines.
The visa deposit for this program is US$1,500.
SRRV Expanded Courtesy
In 2013, the SRRV Courtesy program was expanded to include:
- Honorary consuls
- Retirees from international organizations
- Former military officers
Applicants must be at least 50 years old for this program and receive a monthly pension of at least US$1,000.
They should also be able to remit a visa deposit of US$1,500.
All applicants must submit various documents and pay the required fees to the PRA as part of the application process.
Additional requirements apply for dependents, including spouses and children, who wish to join the principal retiree in the Philippines.
How Do I Get a Retirement Visa in the Philippines?
Obtaining an SRRV involves a straightforward but specific process administered by the Philippine Retirement Authority.
Special Resident Retiree’s Visa Requirements
- Completed SRRV Application Form
- Medical Certificate (valid 6 months) from licensed physician
- Police Clearance from country of origin (valid 6 months, authenticated/apostilled)
- NBI Clearance (if stayed in the Philippines over 30 days)
- Original passport with a valid tourist visa (minimum 1 month validity)
- 8 recent 2×2 photos
- Bank Certification showing visa deposit remitted from abroad to PRA-designated banks (Development Bank of Philippines or other accredited banks)
- Deposit amount varies by SRRV option chosen
- Additional US$15,000 per dependent beyond two dependents
SRRV Fees
- Application Fee: US$1,400 (one-time, non-refundable once submitted to Immigration)
- PRA Annual Fee: US$360 (paid yearly, plus US$100 per additional dependent over two)
Other Philippines Retirement Visa Requirements
- SRRV Classic with Pension: Proof of lifetime pension (US$800/month single, US$1,000/month with dependents)
- SRRV Courtesy (Former Filipino): Old Philippine passport or PSA birth certificate
- SRRV Expanded Courtesy: Proof of qualification plus US$1,000/month lifetime pension
Dependent Requirements
Each dependent needs:
- Application forms
- Medical certificate
- Police/NBI clearance (if 18+)
- Proof of relationship (authenticated)
- Passport with a valid visa
- Photos
- US$300 application fee
Note: The procedure takes approximately one month after the document is submitted. The applicant must be physically present in the Philippines throughout the process.
Is SRRV Suspended?
In October 2020, the Board of Trustees of the Philippine Retirement Agency directed the PRA to suspend the issuance of the SRR Visa.
This was done pending review and amendments of policies on age and visa deposit requirements.
The Board instructed the PRA to review its policies, particularly those related to minimum age requirements and dollar deposit requirements.
While the initial suspension announcement indicated that the Board would reconvene on November 6, 2020, to discuss these policy reforms.
Following amendments, the SRRV Classic and Courtesy programs have resumed and remain active, with only a brief internal-activity pause on May 16, 2025.
Prospective applicants should always confirm the current program status directly with the PRA.
Is the Philippines Good for Retirement?
The Philippines has gained recognition as an good retirement destination, particularly for expatriates seeking a tropical location with lower cost of living.
As of April 2025, the cost of living in the Philippines is approximately 53.5% lower than in the United States, making it extremely affordable for retirees from Western countries.
Beyond the economic advantages, the Philippines offers:
- Warm tropical climate
- Stunning natural landscapes ranging from pristine beaches to mountain retreats
- Predominantly English-speaking population that makes integration easier for foreign retirees
The Filipino culture is known for its hospitality and respect for the elderly, creating a welcoming environment for retirees.
How Much Money Do You Need to Retire in the Philippines?
A modest retirement can be achieved with a monthly budget of $1,000 to $1,500, which covers basic expenses such as housing, food, utilities, and healthcare.
This budget allows for comfortable living in most parts of the country outside premium urban locations.
For those seeking a more luxurious lifestyle or preferring to live in prime areas like Metro Manila, a monthly budget between $2,000 and $3,000 would be more appropriate.
This higher budget accommodates upscale housing, frequent dining out, household help, and more extensive leisure activities.
The cost breakdown for essential expenses, according to April 2025 data, shows:
- Rent for a one-bedroom apartment in city centers averages around 17,586 pesos (approximately $350) per month.
- Rent for a one-bedroom apartment outside city centers is about 10,011 pesos (approximately $200) per month.
- Monthly utilities for a standard apartment cost approximately 6,133 pesos (about $120).
- Internet service runs around 1,710 pesos (about $34).
En cost of living in the Philippines varies significantly depending on your lifestyle preferences and chosen location.
Where Is the Cheapest Place to Retire in the Philippines?
According to recent data, some of the inexpensive cities to live in the Philippines are:
- Baguio City
- Dasmariñas
- Cebu City
- Davao City
- Quezon City
- Bacolod City
- Iloilo City
- Dumaguete City
Davao City stands out particularly for its low costs for condominium rentals and utilities, making it especially attractive for budget-conscious retirees.
The city offers a range of affordable housing options while maintaining urban conveniences and amenities.
Additionally, Davao’s vibrant economy provides various opportunities for those seeking an active retirement with part-time engagement.
Baguio City, known for its cooler climate, provides affordable rental costs and inexpensive food and produce due to its agricultural surroundings.
Baguio City’s pleasant weather and lower costs make it particularly appealing to retirees seeking relief from the tropical heat common in most parts of the Philippines.
What Is the Safest City in the Philippines?
Safety is a primary concern for retirees considering relocation to the Philippines.
Según la Current Safety Index by City, Davao ranks impressively at number 67 globally with a safety score of 71.5.
This high ranking makes Davao not only one of the safest cities in the Philippines but also competitive on a global scale for safety.
Davao’s safety reputation stems from the strict implementation of local ordinances, effective policing, and community involvement in security measures.
The city has implemented various safety initiatives, including extensive CCTV coverage, quick emergency response systems, and stringent enforcement of laws.
However, caution is advised as no place is perfectly crime-free.
Conclusión
The Special Resident Retiree’s Visa program is an attractive retirement option for foreigners and former Filipino citizens.
The country presents compelling advantages for retirees seeking an affordable yet comfortable lifestyle.
Especially with the significantly lower cost of living compared to Western countries, varied affordable locations, improving safety conditions, and a structured visa program.
¿Le duele la indecisión financiera?
Adam es un autor reconocido internacionalmente en temas financieros, con más de 830 millones de respuestas en Quora, un libro muy vendido en Amazon y colaborador de Forbes.
