Updates on the Philippines’ retirement visa program

The Special Resident Retiree’s Visa (SRRV) has been one of the Philippines’ flagship programs for attracting foreign retirees. Introduced through Letter of Instruction No. 1470 in 1985, the SRRV grants qualified foreign nationals and former Filipinos with permanent residence and multiple-entry privileges, allowing them to settle in the Philippines long-term.

The program offers several benefits that make the Philippines an appealing choice for retirees. SRRV holders are granted indefinite stay and may enter and exit the country freely without the need to renew their visas, provided that the required visa deposits are maintained. They also enjoy exemptions from certain taxes and customs duties, including on the importation of household goods and personal effects. For many retirees, the relatively low cost of living, warm climate, and the hospitality of local communities make the Philippines a practical and welcoming choice.

Data from the Philippine Retirement Authority (PRA) shows that the number of active SRRV holders as of July is approximately 60,000. Many of these retirees come from countries such as China, South Korea, India, and the United States. This figure highlights the program’s role as a stable source of long-term tourism and investment that supports local economies across the country.

Effective Sept. 1, the PRA implemented revised guidelines governing the issuance of the SRRV. The changes include updated eligibility criteria, adjustments to visa deposit requirements, more stringent documentary requirements for certain nationalities, and improvements to the SRRV application process.

Under the new guidelines, foreign nationals aged 40 to 49 are now eligible to apply for an SRRV, subject to higher visa deposits than those required of applicants aged 50 and above. For the SRRV Classic, applicants aged 50 and above who receive a monthly pension must remit $15,000 or $30,000 if they are not pensioners. Meanwhile, those aged 40 to 49 must deposit $25,000, if they have a pension, or $50,000 if they do not.

For the SRRV Courtesy program, retired diplomats, military personnel, and “high achievers” must remit $1,500 if aged 50 and above. Those aged 40 to 49 must deposit $3,000 if they have a pension or $6,000 if they do not. Former Filipinos applying under the SRRV Courtesy program must remit $1,500 if aged 50 and above, or $3,000 if aged 40 to 49. For applicants with more than two dependents, an additional $15,000 per dependent is required, except for former Filipinos. All deposits must be inwardly remitted to a PRA-accredited bank and maintained throughout the duration of the retiree’s stay.

Applicants are now also required to obtain a Bureau of Immigration (BI) Clearance Certificate as part of the application process. The application fee for principal applicants has also increased from $1,400 to $1,500, while the fee for each joining dependent remains at $300.

During a briefing on Sept. 3, the PRA clarified that applicants from certain jurisdictions are now required to submit additional documents to establish the authenticity of their personal records. Chinese nationals, in particular, must submit original, English-translated, and apostilled or authenticated copies of their birth certificates, national IDs, and social insurance records. The PRA recognizes that some Chinese applicants may only possess a Household Registration Card instead of a birth certificate. In such cases, the card may be accepted if it is apostilled, translated into English, and accompanied by proof that the birth certificate cannot be obtained despite diligent efforts.

These reforms reflect a deliberate policy to keep the SRRV accessible to legitimate retirees while maintaining strong regulatory standards. If effectively implemented, these measures can help sustain the program’s economic contributions over the long term. Retirees who settle in the Philippines generate steady demand for housing, services, and local businesses, which can translate into broader economic benefits across the country. Taken together, these reforms lay the groundwork for a more sustainable retirement visa program, and reinforce the Philippines’ position as an attractive retirement destination.

The views and opinions expressed in this article are those of the author. This article is for general information and educational purposes and not offered as, and does not constitute, legal advice or legal opinion.

Napoleon L. Gonzales III is a senior associate of the Immigration Department of the Angara Abello Concepcion Regala & Cruz Law Offices (ACCRALAW).

nlgonzales@accralaw.com

(632) 8830-8000