A guide to retiring in the Philippines as foreign national.
Are you looking to trade dull grey skies for beautiful beaches? Do you see yourself spending plenty of time relaxing in the sun? Are you looking for a peaceful place to retire? If you’re asking yourself any of these questions then you may be interested in the Philippines as a retirement destination.
For many years the Philippines has been a popular country for tourism. However, beyond the holiday spots and resorts, the Philippines is also a great country for long-term settlement and living. The amazing culture, climate and people have encouraged many people to think about spending their twilight years across the islands of the Philippines.
To help make the process easier, we’ve put together a guide to retiring in the Philippines.
The Philippines are perfect for retirees who want to get away from the loud city lifestyle and enjoy the crystal clear beaches and beautiful tropical weather. There are currently more than 64,000 foreign retirees living in the Philippines. Foreign nationals who want to make the Philippines their second home can easily obtain a retirement visa through the Special Residence Retiree’s Visa (SRRV) program. With a Philippines retirement visa, you are eligible to work, study or invest in the Philippines.
Below you’ll learn about:
Who can apply for a Philippines retirement visa?
If you are a foreign national you will need a visa to retire in the Philippines. So, before you get started with anything it’s worth knowing whether you can qualify for a Philippines retirement visa.
The first thing you need to learn about if you want to retire to a second home in the Philippines is the Special Resident Retiree’s Visa (SRRV) program.
The SRRV program allows foreign nationals to obtain a retirement visa in a way that is relatively straightforward and inexpensive.
You are free to apply for a Philippines retirement visa through the SRRV program if:
You are at least 35 years old and deposit at least £39,500 in a bank account in the Philippines; or
You are at least 50 years old and have a pension
You can financially support yourself and any dependent family members that may join you
You have no criminal record.
What documents do you need to submit for a retirement visa?
As with many administrative processes there are plenty of documents to get together and have ready before you submit your application. To apply for a retirement visa you should have the following documents:
As with many administrative processes there are plenty of documents to get together and have ready before you submit your application.
To apply for a retirement visa you should have the following documents:
A valid passport (plus an updated Temporary Visitor’s Visa)
Valid medical clearance form
Eight original ID format photographs (2-inch by 2-inch)
Inwardly remitted SRRV deposit
A completed PRA application form
Any relevant marriage or birth certificates for dependent spouses or children
Proof of paid visa fee
There may be further requirements depending on your individual case so we’d recommend gathering as much relevant information as possible before you begin the visa application process.
How do you apply for the retirement visa?
The steps for actually applying for the retirement visa are quite simple. As we have mentioned, if you’re an expat looking to retire in the Philippines you need to register for the SRRV program.
The procedure for doing so is as follows:
Make an appointment at the Philippine Retirement Authority (PRA)
Choose the retirement option that suits you (we will discuss this in further detail below)
Gather the correct documents
Send the completed application to the PRA
Which retirement option is right for you?
There are a variety of retirement options in the Philippines. For expats looking to start a new life the option you choose will depend on your retirement status, the SRRV program and your lifestyle. Here are the retirement options:
SRRV Classic - the main retirement option for healthy retirees who choose to use their visa deposit to purchase property or a long-term house lease in the Philippines.
SRRV Smile - for healthy retirees who keep their SRRV deposit in any of the banks recommended and accredited by the PRA.
SRRV Human Touch - for retirees in bad health over the age of 50 who will need medical or clinical care when in the Philippines.
SRRV Courtesy- The option for former Filipinos or foreign nationals over the age of 50 who have retired from their role within International Organisations recognised by the Philippines Department of Foreign Affairs (DFA)
SRRV Expanded Courtesy - Same as above but expanded to apply to retired Armed Forces officers from countries that have military ties/agreements with the Philippines.
The benefits of retiring in the Philippines
So, why should you go through all this administrative hassle to retire in the Philippines? Is retiring to the Philippines a good idea? Here are a few of the main benefits:
First and foremost, the benefits of retiring in the Philippines are that it's the Philippines! The beautiful sunny beaches, the wonderful food, and the welcoming people make the Philippines one of the most popular retirement destinations in the world.
Indefinite stay with multiple-entry and exit allowances.
Exemption from customs duties and taxes for certain imports
Greet & Assist program at certain Philippine airports
Access to PHILHEALTH benefits and privileges
Any dependent children can study in the Philippines without needing to get a visa.
Best Places to Retire in the Philippines
The cost of living is one of the key factors when looking for a place to retire. The Philippines is not an expensive destination, which makes it a top choice for retirees all around the world.
To help you decide where to locate, we have selected some of the best places to consider in the Philippines, click here.
For full information of how to apply a retirement visa, contact the Philippines Embassy or the Philippine Retirement Authority.