Menu

Home / Cities / Manila

The SRRV: how Americans retire to the Philippines on a deposit

Updated 2026-11-06 · 7 min read

Drawing for the SRRV retirement visa in the Philippines: the word RETIRE, a passport, a beach chair and a piggy bank.
The SRRV: a passport, a beach chair and a deposit that stays put.

If you're 40 or older and can park a US dollar deposit in a Philippine bank, the Special Resident Retiree's Visa gets you permanent residence with no annual trips to immigration.

The short version

  • The Special Resident Retiree's Visa (SRRV) is run by the Philippine Retirement Authority (PRA), not the Bureau of Immigration. It gives permanent residence with multiple entries and an indefinite stay [1].
  • PRA's current application page lists two options: SRRV Classic and SRRV Courtesy. The minimum age for both is 40 [1].
  • The Classic deposit runs from USD 15,000 (pensioners 50 and up) to USD 50,000 (non-pensioners aged 40 to 49) [1].
  • Everyone pays a USD 1,500 application fee, plus USD 360 a year for a Classic principal and up to two dependents [1].
  • SRRV Smile, Human Touch and Expanded Courtesy still show up in PRA's fee table for existing holders, but they aren't on the current application page. Ask PRA before you plan around them [1][2].

How the SRRV works

Most retirement visas around the world want proof of income every year. The SRRV is built differently. You send a fixed US dollar deposit from a bank abroad to a PRA-accredited bank in the Philippines, and as long as that deposit and your annual fee stay in good order, you keep permanent resident status [1].

PRA, a government corporation, processes the application and works with the Bureau of Immigration on the visa itself. When a holder abroad wants to cancel an SRRV, for example, PRA endorses the request to the Bureau [4]. Its main office is open to the public Monday to Thursday, 7:00 a.m. to 3:30 p.m., and closed to walk-ins on Fridays, according to an advisory on PRA's homepage dated March 24, 2026 [3].

Think of it as a 401(k)-sized commitment, not a 401(k) investment. The money is yours, but it's tied to the visa. PRA's page says the deposit is used "for investment purposes allowed under the SRRV program" and doesn't spell out on that page when or how you can withdraw it or convert it [1]. PRA does list retirement facilities that accept deposit conversions [3]. Get the conversion and withdrawal rules in writing from PRA before you wire a cent.

SRRV Classic: deposits by age and pension

SRRV Classic is the main route for most Americans. The deposit depends on your age and on whether you can prove a lifetime pension [1].

Applicant Age 50 and up Age 40 to 49
Pensioner USD 15,000 USD 25,000
Non-pensioner USD 30,000 USD 50,000

To count as a pensioner, you need proof of a lifetime pension of at least USD 800 a month if you're single, or USD 1,000 a month if you're bringing dependents [1]. Social Security retirement benefits and a US government or military pension are the obvious candidates, but the pension proof has to satisfy PRA, so ask what form of SSA or pension letter it accepts.

Annual fee and dependents

  • Annual fee: USD 360 covers the principal plus two dependents. Each extra dependent adds USD 100 a year [1].
  • Dependents: a spouse and children can join. Each joining dependent pays a USD 300 application fee [1].
  • Extra deposit: each dependent beyond two needs an additional USD 15,000 deposit (former Filipinos are exempt from this) [1].

SRRV Courtesy: for a narrower group

SRRV Courtesy has much smaller deposits, but you have to fit one of PRA's categories. For foreign nationals, those are retired diplomats, officers of recognized international organizations, retired military members from countries with recognized bilateral relations with the Philippines, and high achievers in fields like academics, business, the arts, sports and philanthropy [1].

That military line is the one US veterans should read twice. If you retired from the US armed forces, ask PRA whether your retirement orders and pension statement qualify you.

Courtesy category Age 50 and up Age 40 to 49 Annual fee
Foreign nationals USD 1,500 USD 3,000 (pensioner) or USD 6,000 (non-pensioner) USD 100 for principal plus 2 dependents [1]
Former Filipinos USD 1,500 USD 3,000 USD 50 for principal plus 2 dependents [1]

A heads-up on the foreign-national figures: the deposit table on PRA's page is laid out awkwardly, so confirm the exact amount for your age bracket with PRA directly.

The former Filipino category is for Filipino retirees naturalized abroad who haven't reacquired Philippine citizenship [1]. If that's you or your spouse, compare it with dual citizenship under Republic Act 9225, which gives the full rights of a citizen, including owning land. The SRRV doesn't.

What about Smile, Human Touch and Expanded Courtesy?

PRA's ID services page still lists SMILE, Human Touch and Courtesy/Expanded Courtesy as schemes in its annual fee table. Smile and Human Touch carry a USD 360 annual fee, and Courtesy/Expanded Courtesy a USD 10 ID renewal per member [2]. But the current SRRVisa page describes only Classic and Courtesy for new applicants [1]. If someone tells you about a cheaper Smile or a Human Touch visa for retirees with health conditions, check with PRA that it's still open to new applicants before you rely on it.

What you get

PRA lists these benefits for SRRV holders [1]:

  • Permanent residence, with multiple entries and an indefinite stay
  • Exemption from the Bureau of Immigration's annual report and the ACR I-Card, and from exit and re-entry permits
  • No separate work or student visa or permit needed
  • Duty- and tax-free import of household goods worth up to USD 7,000, one time
  • No Philippine tax on pensions and annuities
  • Exemption from the travel tax
  • A special PhilHealth rate, help with other government agencies, and discounts from PRA merchant partners

That ACR and annual report exemption alone saves a trip to immigration every January. Your SRRV ID card replaces it. PRA's own page is inconsistent on how long the card lasts: one section cites a PRA circular of June 30, 2025 for two-year validity, while its FAQ cites an October 2024 circular for one year. A replacement card costs USD 10 [2]. Ask which applies when you get yours.

How to apply, step by step

PRA's documentary checklist for a principal applicant [1]:

  1. Passport with a valid tourist visa, valid for at least one month while PRA processes your case.
  2. PRA application form.
  3. Medical certificate issued within six months of filing.
  4. Police clearance from your home country or country of residence, covering the last six months and issued within six months. For most Americans that means an FBI Identity History Summary, authenticated for use abroad.
  5. Bureau of Immigration Clearance Certificate (BICC).
  6. NBI clearance if you've already been in the Philippines more than 90 days.
  7. Eight 2x2-inch photos on a white background, taken within three months.
  8. Proof of the deposit: a bank certificate or proof of inward remittance.
  9. The USD 1,500 processing fee and the first annual fee.

Pensioners add proof of a lifetime pension. Former Filipinos add an old Philippine passport or PSA birth certificate [1].

The deposit has to arrive as an inward remittance from a bank abroad to a PRA-accredited bank. You can't hand over cash or move money already sitting in a Philippine account. If you pick an accredited private bank, request a Letter of Introduction from PRA first [1]. Dependents need their own forms, medical certificate, police clearance (spouses and children 18 and over), BICC, and an apostilled marriage or birth certificate [1].

The American angle: taxes, Social Security and Medicare

  • Uncle Sam still wants his return. The SRRV's exemption on pension tax is a Philippine rule. The IRS taxes US citizens on worldwide income wherever they live, so your pension and Social Security still go on your Form 1040.
  • Your deposit is a foreign bank account. If your Philippine accounts top USD 10,000 combined at any point in the year, you file an FBAR, and larger balances may trigger Form 8938 [5]. A USD 15,000 deposit alone clears the FBAR bar.
  • Social Security. SSA says country-specific restrictions apply to payments abroad and lists contacts for services outside the US [6]. Check your own case before you count on deposits arriving in Manila.
  • Medicare generally doesn't cover care outside the US. Plan on private cover or the SRRV PhilHealth rate, and think hard before dropping Part B.

A US expat tax preparer can check how your pension and the deposit interest fit on your return. And before you choose an option, ask our community group for Americans in the Philippines how their PRA paperwork went. A first-hand account of the deposit process is worth a lot.

Sources

  1. Philippine Retirement Authority: SRRVisa (options, deposits, fees, requirements, benefits)
  2. Philippine Retirement Authority: ID Services and SRRV fee table
  3. Philippine Retirement Authority: homepage (office hours advisory of March 24, 2026; accredited banks and retirement facilities)
  4. Bureau of Immigration: Citizen's Charter 2026, 1st Edition (Main Office)
  5. IRS: Comparison of Form 8938 and FBAR requirements
  6. Social Security Administration: Payments outside the United States

Keep reading

Chat with us