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Retirement

SRRV Requirements 2026: A Practical Guide to the Philippine Retirement Visa for Foreigners

By Rodel Lacorte, CPAAs of 26 October 2026

Rules and fees here come from the Philippine Retirement Authority's (PRA) own published materials, viewed on 26 October 2026. PRA can change them at any time, so confirm with PRA before you send money or file anything.

The Special Resident Retiree's Visa (SRRV) is the usual route for foreigners retiring in the Philippines, and also the topic with the most outdated information online. PRA restructured the program, and its processing guide was revised in September 2025. Many websites, and even an older page on PRA's own site, still describe options new applicants can no longer choose. Here is what PRA currently publishes, plus the planning points I check as a CPA.

Key takeaways

  • Minimum age is now 40 for the principal applicant (foreign nationals and former Filipinos).
  • Only two options remain for new applicants: SRRV Classic and SRRV Courtesy. The old Smile, Human Touch and Expanded Courtesy options are no longer listed on PRA's current SRRV page.
  • Visa deposits range from USD 1,500 to USD 50,000, depending on the option, your age and whether you have a qualifying pension.

What the SRRV is

PRA describes the SRRV as a special non-immigrant visa, issued by the Bureau of Immigration (BI) under PRA's retirement program, for foreign nationals and former Filipino citizens who want to live and retire long-term in the Philippines. It gives permanent residency with multiple-entry privileges (PRA SRRV page).

Who qualifies in 2026

  • Principal applicant: at least 40 years old, either a foreign national or a former Filipino citizen.
  • Dependents: your legally married spouse, plus unmarried children (legitimate or legally adopted) below 21 at the time of application.
  • Disqualified: operators or workers of Philippine Offshore Gaming Operators (POGO) or Internet Gaming Licensees. PRA states the visa will be cancelled immediately if such involvement comes to light after issuance (Expanded SRRV Program).

SRRV options and visa deposits

Option50 years and above40–49 years
Classic – PensionerUSD 15,000USD 25,000
Classic – Non-pensionerUSD 30,000USD 50,000
Courtesy – Foreign nationals (special categories)USD 1,500USD 3,000 (pensioner) / USD 6,000 (non-pensioner)
Courtesy – Former FilipinosUSD 1,500USD 3,000

Source: PRA SRRV page and PRA processing guide, revised Sept 2025.

A few details matter here:

  • Classic Pensioner requires proof of a lifetime pension of at least USD 800 a month (single) or USD 1,000 a month (with dependents).
  • Courtesy for foreign nationals is limited to retired diplomats, retired officers of DFA-recognized international organizations (such as the UN, ADB, World Bank, IMF and WTO), retired military personnel who aided or trained the Philippine military under a defense treaty or similar agreement, and high achievers in academics, business, arts, culture, music, sports and philanthropy. Applicants aged 40–49 also need proof of a pension or similar benefit of at least USD 1,000 a month.
  • Courtesy for former Filipinos requires proof of former Filipino citizenship, such as an old Philippine passport, a PSA birth certificate or a certificate of naturalization.
  • Each deposit covers the principal and two dependents. Every additional dependent needs another USD 15,000 (except under Courtesy for former Filipinos).

PRA fees

FeeAmount
Application/processing fee, principalUSD 1,500
Application fee, each spouse/dependentUSD 300
Initial annual PRA fee, ClassicUSD 360 (principal + 2 dependents; USD 100 per extra dependent)
Initial annual PRA fee, Courtesy (foreign nationals)USD 100 (+ USD 10 per extra dependent)
Initial annual PRA fee, Courtesy (former Filipinos)USD 50 (+ USD 10 per extra dependent)

PRA says the processing fee is non-refundable if you discontinue your application.

Documents PRA asks for

Based on PRA's current page and its September 2025 processing guide, the basic checklist is:

  1. Passport with a valid, convertible tourist visa (at least 30 days' validity, extended if it runs out during processing). Holders of a 9A visa marked "No Conversion", or who entered using what PRA calls an "AJACKSSUK" visa (an American, Japanese, Australian, Canadian, Schengen, Singapore or UK visa), cannot apply directly.
  2. PRA application form, typed and signed.
  3. Medical certificate on PRA's examination form, issued within the last six months. It can be done at a hospital in the Philippines or abroad.
  4. Police clearance from your country of origin or residence, issued within the last six months (for applicants 18 and older).
  5. Bureau of Immigration Clearance Certificate (principal and spouse).
  6. NBI clearance if you have stayed in the Philippines for 90 days or more before filing.
  7. Eight 2x2-inch photos, white background, taken within the last three months.
  8. Bank certificate of the visa deposit, showing it was remitted inward from a bank abroad.
  9. Proof of relationship for dependents (marriage or birth certificate, adoption papers), plus proof of pension or Courtesy eligibility where applicable.

Documents issued abroad must be translated into English and apostilled (or authenticated by a Philippine embassy or consulate). PRA may ask for more, especially from applicants from countries it has identified.

Where the deposit goes

The deposit must be sent as an inward remittance from a bank abroad to a PRA-accredited bank. PRA lists the Development Bank of the Philippines (DBP), plus private banks including PNB, BDO (Pacific Star and Cebu IT Park branches only), KEB Hana Bank Manila, UnionBank, Bank of Commerce and Shinhan Bank Manila. Private banks need a PRA Letter of Introduction first. DBP issues its bank certification within 7–10 working days, per PRA.

The process, step by step

  1. Pre-evaluate with PRA (head office, or satellite offices in Baguio, Clark/Subic, Cebu and Davao).
  2. Apostille your home-country documents before you fly. This is where most delays start.
  3. Enter on a convertible tourist visa and stay for the whole process.
  4. Remit the deposit and get your BI and (if needed) NBI clearances.
  5. File with PRA, pay the fees, then take the oath and receive your SRRV and PRA ID.

On timing, PRA's documents differ. The Expanded SRRV Program guide says 30 to 45 working days from receipt of complete documents, while the September 2025 citizen's charter lists a turnaround of about 10 working days for PRA's internal processing. I would plan around the longer figure.

Can the deposit buy a home?

Under the Classic option, PRA allows the visa deposit to be converted into an active investment for residential, personal or family use. That can be a condominium unit in your name, a long-term lease of at least 25 years on a ready-for-occupancy house and lot, townhouse or condo, or a ready-for-occupancy unit in a PRA-accredited project. Per PRA's checklists, the property or lease must be worth at least USD 50,000, and PRA annotates its restriction on the title (PRA conversion charter).

Foreigners cannot own land under the Constitution, but condo units are allowed while foreign ownership in the project stays within 40% (RA 4726; Hulst v. PR Builders). Check the title, developer and foreign-ownership quota before you sign.

Benefits PRA lists

PRA lists permanent residency plus exemption from: BI's annual report and ACR I-Card; exit/re-entry permits; duties on a one-time import of household goods up to USD 7,000; tax on pensions and annuities; travel tax; and separate work or student permits.

A CPA's view: what to check before you apply

The visa is the easy part. The money questions are where people get caught out:

  • Which income is taxed here. Under the Tax Code, foreign individuals are generally taxed only on Philippine-source income (NIRC Sec. 23).
  • Estate tax. The Philippines charges a flat 6% estate tax. For a resident alien, the gross estate includes property wherever located. For a non-resident alien, it covers only Philippine property (RR 12-2018). If you will be resident here, coordinate your will and estate plan with your home-country adviser.
  • Liquidity. A deposit tied to the visa or to property is money you can't easily spend. Budget for it separately.
  • Old information. Ignore any guide that quotes a USD 20,000 "Smile" deposit or a minimum age of 50. Those figures belong to the previous program.

Frequently asked questions

What is the minimum age for the SRRV in 2026? 40 for the principal applicant. Deposits differ for ages 40–49 and 50+.

Is the SRRV Smile still available? No. PRA's current SRRV page lists only the Classic and Courtesy options for new applicants.

How much is the SRRV deposit? USD 15,000 to USD 50,000 for Classic, depending on age and pension, and USD 1,500 to USD 6,000 for Courtesy, which is limited to special categories and former Filipinos. This is on top of the USD 1,500 processing fee and the annual PRA fee.

Do I have to stay in the Philippines while my SRRV is processed? Yes. PRA states that all applicants must be physically present in the Philippines for the whole application process, on a valid, convertible tourist visa.

Are SRRV holders taxed on their foreign pension? PRA lists exemption from tax on pensions and annuities as an SRRV benefit. Get advice on other income and your home country's rules.

Can I use my SRRV deposit to buy a condo? Under the Classic option, yes. PRA allows conversion into a condo purchase or a qualifying long-term lease worth at least USD 50,000, for residential use.

Plan your retirement with IPAC

From our office at Unit 1403 Medical Plaza Makati, IPAC helps foreign retirees and former Filipinos prepare documents, plan finances and tax, check property before buying or leasing, and coordinate with PRA. Read more on our Retire in the Philippines page and our services, or see who we are on the founder page.

Book a free consultation. Mobile: 0917 823 6858 Please text your full name, business name and business location first before calling.

IPAC is a consultancy. It is not a law firm, a government agency or a licensed investment or insurance provider. Visa approvals rest solely with the Philippine Retirement Authority and the Bureau of Immigration. This article is general information, not legal or tax advice for your specific situation.

About the author

Rodel Lacorte, CPA has been a Certified Public Accountant since 1993 and began his career at PwC Philippines (1992–1996). He has since run his own CPA practice, operated five Shell stations as a dealer for 20 years, founded Taza Mia Coffee in 2011, and led hydropower and land-development ventures. He founded IPAC to give business owners, investors and retirees practical, numbers-first advice. More about Rodel

Sources (viewed 26 October 2026)