Philippines SRRV: Age 50, $10,000 Deposit and $1,400 Fee for Retiree Visa

Foreign nationals planning to retire in the Philippines can apply for a Special Resident Retiree's Visa (SRRV), a long-stay option that comes with age, deposit and income requirements. The classic variant is described as the most attractive option, but applicants need a bank deposit, proof of pension and several fees to secure it.

Key facts

• Applicants for the classic SRRV must be at least 50 years old.
• Minimum deposit: $10,000 in a Philippine bank for those with a guaranteed monthly income, covering the applicant and two dependents.
• Pension proof required: at least $800 a month, or $1,000 for applicants with dependents.
• One-time application fee: $1,400 for the head of household plus $300 per additional family member.
• Annual renewal fee: $360, plus a yearly Alien Certificate of Registration card at $50.

Who qualifies for the SRRV?

The classic SRRV option has four main conditions. You must be at least 50 years old, deposit at least $10,000 in a Philippine bank if you have a guaranteed monthly income — an amount that covers you and two dependents — and pay $15,000 for each additional dependent. You also need proof of a pension paying at least $800 a month, rising to $1,000 for applicants with dependents.

The term "pension" can cover most sources of retirement income, including Social Security benefits.

How much does it cost?

The one-time visa application fee is $1,400 for the head of household, plus $300 for every additional family member. After that, an annual fee of $360 applies to renew the visa. That renewal fee covers you, your spouse and one child, with $100 charged for each additional child.

Separately, you must hold an Alien Certificate of Registration (ACR-I) card. The card carries a microchip with biometric data and your fingerprints, costs $50 and must be renewed each year.

What documents do I need to re-enter?

The ACR-I card serves as your re-entry permit, together with a valid passport containing a visa stamp. Both are needed when travelling in and out of the country.

Can I buy property?

Foreign retirees face restrictions on direct land ownership: foreigners cannot own land. They can, however, buy condominiums provided foreign ownership in a building does not exceed 40%. Another route is leasing land under long-term contracts of up to 50 years, with a 25-year renewal.

Buying through a Philippine spouse allows joint ownership of a house, although the land must remain in the spouse's name. Retirees may also set up a domestic corporation, where at least 60% of shares are held by Philippine citizens.

What this means for travellers

Anyone considering the SRRV should check that they meet the age threshold and can show the required deposit and monthly pension before planning a move. The fees are payable on application and again at each annual renewal, and the ACR-I card must also be renewed every year.

What living costs look like

Numbeo, an economic conditions database, reported in February 2025 that rent prices in the Philippines were 82.9% lower than in the United States, consumer prices including rent were 64.6% lower, restaurant meals 72.4% lower and groceries 52% lower. International Living, a magazine covering living costs abroad, reports that most expats can live comfortably on $1,500 a month, including housing and leisure.