Retiring at 40? Choose the Philippines and Get a Special Retiree’s Visa

The Philippine government through the Philippine Retirement Authority (PRA) and the Bureau of Immigration grants a special non-immigrant visa known as the Special Resident Retiree's Visa (SRRV) for retirees with the age of 40 and above. Promotion to settle and enjoy a long-term retirement in the Philippines is the main objective of this initiative for foreigners and former Filipino citizens. For retirees seeking a peaceful and enjoyable life in the Philippines, the SRRV provides comfort, investment opportunities, and the warm hospitality of the Filipino people.

The Special Resident Retiree’s Visa (SRRV) serves as a comprehensive residency program designed to provide foreign retirees with a secure and convenient pathway to permanent residence in the Philippines. Beyond functioning as a visa, the SRRV confers permanent resident status, granting the holder the privilege to reside in the country indefinitely with multiple-entry rights, without the requirement for annual immigration reporting or the need to secure exit and re-entry permit.

The program provides both financial and lifestyle benefits to qualified retirees. These include tax exemptions on certain foreign-sourced incomes such as pensions and annuities, and a one-time duty-free importation of personal effects valued up to USD 7,000 to facilitate relocation. Additionally, SRRV holders may participate in investment and business ventures in the Philippines and are entitled to coverage under the national health insurance program, PhilHealth. In essence, the SRRV framework combines the benefits of residence, mobility, and financial advantage, while promoting the integration of retirees into the economic and social life of the Philippines.

As of July 2025, data from the Philippine Retirement Authority (PRA) shows that around 60,000 retirees are active holders of the Special Resident Retiree’s Visa (SRRV). Many of these residents come from countries such as China, South Korea, India, and the United States, reflecting the SRRV’s growing international appeal. The program continues to play a vital role in promoting long-term tourism and foreign investment, generating local economic activity across different regions of the Philippines.

The SRRV program has been upgraded with clearer eligibility thresholds, streamlined application procedures, and structured deposit tiers. Under the new rules, applicants aged 40 to 49 are now eligible, although they must meet higher deposit requirements than those aged 50 and above. For instance, under the SRRV Classic option, retirees aged 50+ who receive a pension must remit US $15,000, or US $30,000 if they do not have a pension. Those aged 40–49 need to remit US $25,000 (pensioners) or US $50,000 (non-pensioners). In the SRRV Courtesy category designed for former Filipinos, retired diplomats, military personnel and other “high achievers” the deposit is US $1,500 for applicants aged 50+, and either US $3,000 or US $6,000 for the 40–49 age group depending on pension status. Additional dependents beyond two incur an extra US $15,000 per person (except for former Filipino citizens). All deposits must be remitted from abroad into a PRA-accredited Philippine bank and maintained for the duration of the stay.

In addition to the financial requirements, the PRA now emphasizes documentation that applicants from certain countries must submit apostilled or authenticated original documents such as birth certificates, national IDs or social insurance records and obtain a Clearance Certificate from the Bureau of Immigration. The one-time principal application fee has also been increased to US $1,500. These changes reflect the authority’s effort to widen access, support younger retirees, and strengthen compliance across the board.

Those who are interested to avail themselves of the SRRV program may contact us at ask@reinamesalaw.com for assistance and further information.