FAQs on the Philippine Special Retiree's Residence Visa (SRRV)

1. 1. What is the Special Retiree’s Residence Visa?

   The SRRV is a multiple-entry visa granted to foreign expatriates and returning Filipinos who wish to spend their retirement in the Philippines.

   2. What are the types of SRRV?
   1. WITH PENSION – Granted to a foreign retiree who is 50 years old and above, receiving pension of at least $800 monthly and has a time deposit of at least US$10,000.00

    

   2. WITHOUT PENSION – Granted to a foreign retiree who is not receiving monthly pension, ages correspond to the required amount of time deposit:
   • 35-49 years old – US$50,000.00
   • 50 years old – US$20,000.00
   • Former Filipinos who are at least 35 years old – US$1,500.00
   • Ambassadors of different countries who have worked in the Philippines, at least 50 years old – US$1,500.00
   3. What are the requirements in filing an SRRV?

    

   Requirements are as follows:

   • Valid passport
   • Marriage certificate (if applicable)
   • Medical certificate
   • Police clearance
   • Proof of dollar remittance to accredited banks
   • Proof of retirement benefits

   The officer may require additional documents if deemed necessary. Also, all documents issued in the home country of the applicant should be notarized by the nearest Philippine Embassy or Consulate General.

   • Where to lodge the application?

   All applications must be filed at the Philippine Retirement Authority in Makati City, Philippines.

   • How much is the application fee?

   The application costs $1400. Dependents are charged $300.00 each. However, additional fees will be charged.

   • How long is the validity of the SRRV?

   As long as the visa holder can financially support himself while staying in the Philippines, the SRRV will be honored.

   • Can SRRV holders bring their spouse/unmarried children (below 21 years old) with them?

   Yes, provided that it is included in the application and fees are paid.

   • When do dependants lose their status?              

   Dependents will only lose their status if the principal applicant’s SRRV is no longer valid. Turning 22 years old will not make any difference.

   • What are the benefits of an SRRV holder?

   Holders of the Philippine Special Retiree’s Resident Visa may work, establish a business, study, or even marry while in the Philippines.

   • Are SRRV holders exempted from paying taxes?

   Yes. SRRV holders are not required to pay the following taxes:

   • Income tax over properties and annuities
   • Exit taxes of the Bureau of Immigration
   • Annual registration requirements of the Bureau of Immigration
   • Customs duties and taxes (importation of household/personal goods and effects up to $7,000.00
   • Travel tax
   • I-Card
   • Should the SRRV holder renew its PRA ID?

    

   Yes. Renewal of the ID card shall take place yearly. However, 3-year validity may be applied in the presence of a Deed of Undertaking stating that the money cannot be withdrawn in three (3) years.

   • Are there any fees to pay yearly?

   Yes, the Annual Visitorial Fee. Specific documents should be submitted to the PRA and paying certain amount is a must.

   • What if the SRRV holder changes address while in the Philippines?

   In this case, the SRRV holder should inform the PRA of the changes.

   •  Can the SRRV be cancelled?

   Yes. To cancel, the SRRV holder should send a written notice to the PRA of the termination at least 30 days before the cancellation.

   • Where can a SRRV holder invest?

   Retirees are allowed to invest on:

   • Condominium units
   • Leased house and lot, condominium, townhouses
   • Residential unit on a leased land
   • Membership in golf clubs

   Former Filipinos are given the opportunity to own a maximum of 5,000 square meters of land in urban areas, and a maximum of three (3) hectares of land in rural areas.

   • Can SRRV holders apply for Philippine Citizenship?

   Yes. Any foreigner/former Filipino who retired and have continuously stayed in the country for ten (10) years may apply for naturalization. It is reduced to five (5) years if any of the following qualifications is met:
   Former Filipinos shall apply for Reacquisition of Philippine Citizenship.