The Philippine Retirement Authority (PRA) is expected to officially announce a significant change to the Special Resident Retiree’s Visa (SRRV) program: the minimum age requirement will be reduced from 50 to 40 years old, starting September 1, 2025.
About the SRRV
The SRRV offers eligible foreign nationals the opportunity to live in the Philippines long-term, with benefits such as multiple-entry privileges, investment flexibility, and optional tax incentives.
Background
Before October 2020, the SRRV was available to applicants as young as 35 years old. However, in late 2020, the minimum age was raised to 50, limiting access for younger early retirees and long-term residents. The upcoming adjustment marks a partial return to the previous policy and is seen as a positive development for those seeking more flexible residency options in the Philippines.
Updated Deposit Requirements
Under the expected implementation:
- Ages 50 and above
➤ Bank deposit: USD 30,000
(currently still USD 20,000) - Ages 40 to 49
➤ Bank deposit: USD 50,000
⚠️ Transitional Note
The current deposit requirement of USD 20,000 for applicants aged 50 and above remains in effect until the new policy takes place. Applicants interested in applying under the existing terms are encouraged to complete their submission before September 1, 2025.
📌 Stay tuned for the PRA’s official announcement.
If you’re considering applying for the SRRV or want to prepare in advance, now is a good time to evaluate your options.