Updates on the Philippines' retirement visa program

The Special Resident Retiree's Visa (SRRV) has been one of the Philippines' flagship programs for attracting foreign retirees. Introduced through Letter of Instruction No. 1470 in 1985, the SRRV grants qualified foreign nationals and former Filipinos with permanent residence and multiple-entry privileges, allowing them to settle in the Philippines long-term.

- NAPOLEON L. GONZALES III

The program offers several benefits that make the Philippines an appealing choice for retirees. SRRV holders are granted indefinite stay and may enter and exit the country freely without the need to renew their visas, provided that the required visa deposits are maintained. They also enjoy exemptions from certain taxes and customs duties, including on the importation of household goods and personal effects. For many retirees, the relatively low cost of living, warm climate, and the hospitality of local communities make the Philippines a practical and welcoming choice.

Data from the Philippine Retirement Authority (PRA) shows that the number of active SRRV holders as of July is approximately 60,000. Many of these retirees come from countries such as China, South Korea, India, and the United States. This figure highlights the program's role as a stable source of long-term tourism and investment that supports local economies across the country.