The Philippines is consistently ranked among the world's top retirement destinations — and Boracay, with its world-class beach, accessible healthcare, low cost of living, and thriving international community, is one of the most sought-after retirement locations within the Philippines.
The Special Resident Retiree Visa (SRRV)
The Philippines Retirement Authority (PRA) administers the Special Resident Retiree Visa (SRRV), which grants foreign retirees the right to live in the Philippines indefinitely with multiple-entry privileges. The SRRV is one of the most attractive long-stay visa programmes in Southeast Asia.
| SRRV Type | Age Requirement | Deposit Requirement | Key Feature |
|---|---|---|---|
| SRRV Classic | 50 years (with pension) / 35 years (no pension) | USD 20,000 (with pension) / USD 50,000 | Broadest eligibility; deposit convertible to property purchase |
| SRRV Smile | 35 years+ | USD 20,000 | Available for working foreigners with active income |
| SRRV Human Touch | 50 years+ | USD 10,000 | For medical tourists; shorter validity |
| SRRV Courtesy | Various | Various | Former Filipino nationals and diplomats |
SRRV Benefits
Indefinite stay right in Philippines with no annual renewal required
Multiple-entry privilege — exit and re-enter Philippines freely
Tax exemption on pension, annuity, and retirement benefits from abroad
One-time duty-free importation of personal effects up to USD 7,000
Access to Philippine national health insurance (PhilHealth) coverage
Spouse and children under 21 can be added as dependents
Combining SRRV with Boracay Property Investment
The most important interaction between SRRV and property ownership: the deposit required for SRRV Classic (USD 20,000 or USD 50,000) can be converted into a real property investment in the Philippines, effectively letting you satisfy the visa requirement by purchasing a Boracay property.
Deposit conversion to property: How it works
SRRV holders with an active pension can convert the USD 20,000 deposit into a PRA-approved condominium unit or retirement village unit. This allows the visa requirement to be met while simultaneously building a Philippine property asset. The property must remain under the retiree's name for the duration of the visa.