{"id":23241,"date":"2024-01-09T09:46:13","date_gmt":"2024-01-09T09:46:13","guid":{"rendered":"https:\/\/globalresidenceindex.com\/?p=23241"},"modified":"2024-11-15T12:26:50","modified_gmt":"2024-11-15T12:26:50","slug":"philippines-residence-visa-guide-sirv-srrv","status":"publish","type":"post","link":"https:\/\/globalresidenceindex.com\/philippines-residence-visa-guide-sirv-srrv\/","title":{"rendered":"Philippines Residence Visa Guide: SIRV & SRRV"},"content":{"rendered":"

Philippines Residence Visa Guide: SIRV & SRRV<\/span><\/h1>\n

The Philippines is a favored destination for retirees and investors, offering a low cost of living and diverse investment opportunities. Its stunning islands, pristine beaches, volcanic landscapes, and world-class diving spots make it an appealing location for both travel and long-term residency. Additionally, the country provides attractive residency-by-investment options, sometimes referred to as golden visas<\/a>, for foreigners seeking to establish a base in this tropical paradise.<\/p>\n

Special Resident Visas (residence by investment visas) are issued to foreign nationals coming to the Philippines for an indefinite stay or permanent living, whether for work, employment generation, investment, or retirement purposes. Classifications of the resident visa may vary from investment conditions and types of retirement.<\/span><\/p>\n

If the Philippines might be an exciting option for you as an investor or a possible retiree, read the guide below. We hope to provide you with helpful information, and if you would like to request a consultation, then don’t hesitate to each out.<\/span><\/p>\n

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Special Resident Retiree\u2019s Visa (SRRV)<\/span><\/h2>\n

\u200b\u200bThe Special Resident Retiree’s Visa (SRRV) entitles the holder to reside in the Philippines anytime during his lifetime, permitting multiple entry privileges, so long as the visa requirements remain in the Philippines. The Bureau of Immigration issues the SRRV upon endorsement of the Philippine Retirement Authority (PRA).\u00a0<\/span><\/p>\n

The SRRV program of the PRA requires foreign nationals to have a certain amount of deposit in any PRA-accredited bank in the Philippines. The amount has to be deposited via inward remittance.\u00a0\u00a0<\/span><\/p>\n

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Eligibility for SRRV<\/span><\/h3>\n

There are different SRRV Programs available. The amount of bank deposit requirement depends on the program being applied for. Any foreigner at least fifty years of age can apply for an SRRV, provided they meet at least one of the SRRV programs’ requirements.\u00a0\u00a0<\/span><\/p>\n

There are four options available to retirees:\u00a0<\/span><\/p>\n

SRRV Smile\u00a0<\/span><\/h4>\n

Applicants who are at least thirty-five years old and above. They must make a minimum deposit of $20,000 in a PRA-designated bank account;<\/span><\/p>\n

SRRV Classic<\/span><\/h4>\n

The primary retiree deposits $50,000 (thirty-five to forty-nine) or $10,000 to $20,000* (fifty years and above) that can be used to purchase an apartment or use for a long-term lease. The investment cannot be in an off-plan or construction phase.<\/span><\/p>\n

*allows retirees to apply without a pension. The pension requirement for a $10,000 deposit is $800 or $1,000 for a couple.\u00a0<\/span><\/p>\n

SRRV Human Touch<\/span><\/h4>\n

For potential retirees above thirty-five years old who require consistent medical or clinical assistance. Applicants under the Human Touch need to deposit $10,000 into a bank account and have a monthly pension of $1,500. The last requirement is to hold Health Insurance usable in the Philippines.<\/span><\/p>\n

SRRV Courtesy<\/span><\/h4>\n

Former Filipinos (thirty-five plus) and foreigners (fifty years or older) who served in the Philippines as diplomats, ambassadors, or staff in international organizations. They only require a deposit of $1,500.<\/span><\/p>\n

SRRV Expanded Courtesy<\/span><\/h4>\n

Foreigners (fifty years or older) receive a monthly pension of $1,000 and a deposit of $1,500. The expanded courtesy allows for two dependents; however, an additional deposit of $15,000 for each. The added deposit for dependents is waived for former Filipinos.\u00a0<\/span><\/p>\n

The investor can choose to invest their deposit through the following means:\u00a0<\/span><\/p>\n