Philippines: the SRRV retirement visa among the most accessible

The Philippines issues a special resident visa for retirees, administered by a dedicated agency. It is open from a minimum age and is based on a fixed deposit in an accredited Philippine bank.

The required deposit varies according to the applicant's age and whether or not they receive a pension. Subject to conditions, it can be converted into an eligible real estate investment.

We do not publish the minimum age, the deposit amounts required for each category or the conditions for conversion into an investment: they do not appear in the official sources we have been able to verify. They must be confirmed with the competent agency.

What can be stated is that the permit is of indefinite duration as long as the conditions are met, and that it allows multiple entries and exits without formalities — two advantages that most Asian retirement visas do not offer.

It does not, however, confer the right to engage in paid work in the Philippines without a separate authorisation.

The required deposit is not an expense but capital tied up: it is refundable at the end of the stay, but it produces virtually no income for its entire duration. Its real cost is therefore measured by the return forgone, over a horizon that can exceed twenty years for a retiree.

The Philippine Constitution reserves land ownership for Philippine citizens and companies majority-owned by them. A foreigner cannot acquire land, whatever their residence permit.

They can acquire a condominium unit, within a quota set for each building: the share held by foreigners cannot exceed a fraction of the whole.

A house with land can therefore only be obtained through a long-term lease, whose remaining term determines its value, or through a Philippine spouse — which raises other questions in the event of separation or succession.

Arrangements using front companies or nominees are unlawful and expose the buyer to the loss of the property, with no effective recourse. This is the most serious risk in Philippine projects, and it is systematically played down.

The Philippines does not tax the foreign-source income of foreign residents, which is the main advantage for a retiree living on a French pension.

Philippine-source income is taxed on a scale ranging from 0%¹ to 35%², and dividends bear a final tax of 10%³.

The sale of real estate is subject to a levy of 6%⁴, based on the sale price or on the reference value if higher — a tax on the price, not on the gain.

Estate tax is 6%⁵ of the net value, with no progressive scale. This is a very low level by European standards.

Finally, the France–Philippines tax treaty determines how pensions are treated, with public pensions generally following a different rule from private pensions.

• The permit is of indefinite duration and allows multiple entries: this is its main strength.
• It does not confer the right to work locally without a separate authorisation.
• A foreigner cannot own land: only condominium ownership is open to them.
• A property sale bears 6%⁴ of the price, even at a loss.
• Estate tax is 6%⁵ of the net value.

Finally, two practical constraints weigh on a Philippine project and cannot be measured from a distance. The healthcare system often requires evacuation to Singapore or Bangkok for major procedures, which calls for insurance covering this risk, whose cost rises steeply with age. And the archipelago is among the territories in the world most exposed to both typhoons and seismic activity, which makes insuring property difficult and expensive.