Special Resident Retiree’s Visa, Classic
A refundable dollar deposit in a PRA-accredited Philippine bank buys indefinite multiple-entry stay for the applicant, a spouse and unmarried children under 21.
The PRA calls this permanent residency. In immigration law it is not. The SRRV is a special non-immigrant visa issued under Section 47(a)(2), so years on it count for nothing toward naturalisation and give no residence credit at all. What you are buying is permission to stay indefinitely without renewing a visa, which is a real and unusually generous thing. It is not a path to a Philippine passport. The second correction is the price: the USD 10,000 and USD 20,000 tiers that still appear on agent sites were abolished in the September 2025 restructure, along with SRRV Smile and SRRV Human Touch. Only Classic and Courtesy exist for new applicants.
Programme snapshot
| Item | Current rule |
|---|---|
| Main audience | Foreign nationals and former Filipino citizens aged 40 and over |
| Route family | Retirement |
| Validity | Indefinite stay, multiple entry |
| Stay per entry | No limit while the visa is valid |
| Threshold | USD 15,000 (50+, pensioner), USD 25,000 (40 to 49, pensioner), USD 30,000 (50+, non-pensioner), USD 50,000 (40 to 49, non-pensioner). 2026 schedule |
| Threshold form | Fixed USD deposit in a PRA-accredited bank, converted to pesos. Pensioner tiers also require a lifetime pension of USD 800 a month single, USD 1,000 with dependents |
| Renewal | None. Annual PRA fee and annual ID renewal instead |
| Settlement | Direct, at approval |
| PR clock | None. Non-immigrant status |
| Citizenship clock | None |
| Family | Spouse and unmarried children under 21 at application |
| Local employment | Only with an Alien Employment Permit from DOLE. The visa is not a work authorisation |
| Tax headline | PRA states exemption from tax on pensions and annuities. Other Philippine-source and worldwide income follows ordinary resident-alien rules. Confirm with a local accountant |
| Processing | No published service standard. Bank certification of the inward remittance takes 7 to 10 working days; practitioners report 4 to 8 weeks end to end |
Application flow
- Enter the Philippines on a valid tourist visa. You cannot start this from abroad.
- Choose the tier that matches your age and whether you hold a qualifying lifetime pension.
- Open an account at a PRA-accredited bank and remit the deposit as an inward remittance. The bank certifies the funds to the PRA, which takes 7 to 10 working days.
- File the SRRV application with the PRA while in the country.
- The Bureau of Immigration issues the visa. Pay the annual fee and collect the ID.
- Renew the ID and pay the fee every year. There is no visa renewal.
Good fit
A 55-year-old with a genuine lifetime pension and USD 15,000 who wants to stop dealing with immigration altogether. Former Filipinos who want to come and go without giving up the new passport. Anyone over 40 with idle dollars who values a fixed, published rule over a discretionary one, and who does not need to work locally or become a citizen.
Poor fit
A 42-year-old remote worker with savings but no pension. That applicant needs USD 50,000 parked, still cannot take local work without an AEP, and gets no residence credit for any of it. Also poor fit: anyone who needs the deposit liquid, anyone who expects the money to earn a market return, and anyone who reads “permanent residency” as a step toward citizenship.
Watchpoints
- The deposit is refundable only on cancellation. And then only after PRA and BI clearance, with fees deducted. It is a deposit rather than a fee, but it is not government-guaranteed. If the bank fails, the PRA is not standing behind it.
- Property conversion is far narrower than agents suggest. Only Classic deposits qualify. Only 30 days after issuance. Only a PRA-accredited project worth at least USD 50,000, and the deposit can only settle the final payment. A pensioner with USD 15,000 cannot use this route at all.
- Conversion requires a surety bond equal to the full deposit. The Condominium Certificate of Title must be delivered within 180 days, annotated with a PRA restriction. Miss the deadline and the withdrawn amount has to be repaid.
- The annual fee is charged whether you use anything or not. USD 360 for the principal plus two dependents, then USD 100 per extra dependent.
- You must be in the country to file. The visa is issued against a tourist visa already in the passport, so the process starts with a flight, not a form.
- Pensioner tiers have an income test, not just a deposit. USD 800 a month single or USD 1,000 with dependents, and it must be a lifetime pension. A high savings balance does not substitute.
Sources
- Philippine Retirement Authority, SRRV programme page, https://www.pra.gov.ph/SRRVisa, checked 2026-10-22
- Philippine Retirement Authority, 2026 deposit schedule and September 2025 restructure advisory, checked 2026-10-22
- Bureau of Immigration, Section 47(a)(2) visa issuance, checked 2026-10-22