Park $15,000 in a Philippine bank and stay as long as you like
The SRRV Classic is open to Americans 40 and up, run by the Philippine Retirement Authority, and paid for with a deposit you get back when you leave.
This is the long-stay route for people who bring their income with them. Two questions set your price: are you 50 yet, and does a pension land in your account every month? Keep the deposit in place and pay the yearly fee, and the visa keeps going.
The deposit PRA asks for, as of September 2026
$15,000
Age 50 and up, with a pension
Covers you plus two dependents
$30,000
Age 50 and up, no pension
Savings or investment income
$25,000
Age 40 to 49, with a pension
Covers you plus two dependents
$50,000
Age 40 to 49, no pension
Each extra dependent adds $15,000
Who it fits
A pension halves the deposit
PRA counts you as a pensioner if you can prove $800 a month on your own, or $1,000 for a family. Applicants report that 401(k) drawdowns don't always pass, so bring proof of a lifetime pension if you have one.
- You must be 40 or older; the floor dropped from 50 in September 2025
- A spouse and children 20 and under can join as dependents
- Not a fit if you need a Philippine paycheck or can't leave the cash untouched
Special Resident Retiree's Visa (SRRV) Classic
The Philippine Retirement Authority's main program for foreigners aged 40 and up. You park a time deposit in a PRA-accredited bank and get indefinite stay with multiple-entry privileges, with no visa renewals as long as the deposit is kept and the annual fee is paid. It also comes with some tax and customs exemptions on household goods.
- Government cost
- $1,500
- Timeline
- Indefinite stay while the deposit is maintained and the annual PRA fee is paid
- Difficulty
- Easy
Key requirements
- Age 40 or older (lowered from 50 on 1 September 2025)
- Time deposit: US$15,000 (age 50+ with pension) or US$30,000 (50+ without pension); US$25,000 or US$50,000 for ages 40-49
- Pensioner option requires a monthly pension of at least US$800 (US$1,000 with dependents)
- Deposit must be remitted from a foreign bank into a PRA-accredited bank
- Medical certificate, police clearance from home country, and Bureau of Immigration Clearance Certificate (NBI clearance if you have stayed 90+ days)
- Documents issued abroad must be in English and apostilled
What the SRRV gets you
Multiple entries, no end date
Come and go on one visa, with no exit clearance or re-entry permit from the Bureau of Immigration.
No yearly immigration check-in
Holders are exempt from the bureau's annual report and the Alien Certificate of Registration.
Pensions arrive untaxed
PRA lists pensions and annuities among the income you won't pay Philippine tax on.
$7,000 of household goods
One shipment of household goods and personal effects comes in free of customs duties and taxes.
A special PhilHealth rate
SRRV holders can join PhilHealth, the national health insurer, at a special rate.
A condo instead of cash
PRA can let you move the deposit into a condo worth at least $50,000, titled in your name.
Filing it
Fly in, wire the money, then wait on two agencies
You file in the Philippines, not at a U.S. consulate. Americans can stay visa-free for 30 days, and PRA wants at least 30 days left on your stay when you file.
- Apostille your U.S. police clearance and other papers; the police and medical certificates expire after 6 months
- Wire the deposit from a U.S. bank to a PRA-accredited bank such as PNB, BDO or Unionbank
- Get a Bureau of Immigration Clearance Certificate (₱1,010) for you and your spouse
- PRA quotes 10 working days, plus immigration time on top; applicants report about six weeks and say the government holds your passport meanwhile
The fees, and what keeps the visa alive
$1,500
Application fee, main applicant
Plus $300 per spouse or dependent
$360
PRA fee, every year
$100 more per dependent past two
2 years
How long the PRA ID card lasts
Lapses can land you on a BI watchlist
$10,000
U.S. foreign-account reporting trigger
The deposit alone crosses it
Here's the catch
The deposit stays your money, but it's parked until you quit the program, and the $360 fee runs every year you hold the visa. A condo can replace the cash; land can't, since foreigners still can't own it. Work is the gray area. PRA's own page says holders don't need separate work permits, while an older Philippine Embassy guide says you need an Alien Employment Permit. If a Philippine paycheck is in your plan, get PRA's answer in writing before you wire anything.
People to call before you wire the deposit
Hunter Schultz
Healthcare Coach
Healthcare coach who helps you match your medical needs to the hospitals and doctors near where you plan to live.
ExpatInsure
Global Health Insurance
International health insurance partner. They compare global plans and find coverage that fits your age, health and budget.
Moneycorp
Currency Exchange
Currency exchange and international transfers from the U.S., including large one-time wires.
MyExpatTaxes
U.S. Expat Tax Service
Tax filing for Americans abroad, including the FBAR that a foreign bank deposit adds to your list.
SRRV questions Americans ask us
How long does the SRRV take to process?
PRA quotes 10 working days for its part when you file at its head office, and that doesn't include Bureau of Immigration processing. Applicants report about six weeks in total, and a Philippine law firm puts it at 6 to 10 weeks depending on how ready your documents are. Applicants also say the government holds your passport while the visa is processed.
How much do I have to deposit for the SRRV Classic?
As of September 2026, it depends on your age and whether you have a pension. At 50 and older, it's $15,000 with a qualifying pension and $30,000 without one. From 40 to 49, it's $25,000 with a pension and $50,000 without. The deposit covers the main applicant and two dependents, and each additional dependent needs another $15,000.
What counts as a pension for the SRRV?
The Philippine Retirement Authority asks for proof of a pension of at least $800 a month for a single applicant or $1,000 a month for a family, but it doesn't publish a list of qualifying income. Applicants report trouble when the payments aren't a lifetime pension, and 401(k) drawdowns may not qualify. Ask PRA to confirm your income counts before you wire the deposit.
Where do I apply for the SRRV?
In the Philippines, with the Philippine Retirement Authority. PRA's checklist asks for your passport with a tourist visa valid for at least 30 more days, so you file while you're in the country as a visitor. U.S. citizens don't need a visa for stays of 30 days or less.
Can I buy property with my SRRV deposit?
You can buy a condo, but not land. PRA's checklist allows the SRRV Classic deposit to be converted into a condo worth at least $50,000, titled in the main applicant's name, starting 30 days after the visa is issued. Land ownership stays off-limits to foreigners.
Do I have to report my SRRV deposit to the U.S. government?
Yes. A U.S. person whose foreign accounts total more than $10,000 at any time during the year must file an FBAR, FinCEN Form 114. You file it electronically with FinCEN, separately from your tax return. It's due April 15, with an automatic extension to October 15.
Do I get the SRRV deposit back?
Yes. The deposit sits in your name in a PRA-accredited Philippine bank and is released when you cancel the SRRV. If you converted it into a condo, the title carries a note that selling or mortgaging the unit needs PRA approval.
Do I need a work permit on the SRRV?
Sources disagree. PRA's own page lists an exemption from separate work or student permits among SRRV privileges, while an older Philippine Embassy guide says holders need an Alien Employment Permit from the Department of Labor to work. If you plan to take a Philippine job, get PRA's answer in writing first.
Other ways to live in the Philippines
The Philippines 13(a) marriage visa: permanent residence for Americans married to Filipinos
Your Filipino spouse petitions, you spend a year on probation, then the status becomes permanent. No investment or deposit required.
Hired by a Philippine company? Your 9(g) visa starts with a newspaper ad
Your employer gets a DOLE work permit after showing no suitable Filipino applied, then backs your Bureau of Immigration petition for a visa of one to three years.
A Philippine residence visa tied to a $75,000 investment
The Special Investor's Resident Visa (SIRV) covers you, your spouse and unmarried kids under 21. Condos and land don't count, and pulling the money out ends the visa.
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