The Philippines is a retirement haven for Singaporeans. This is thanks to the pleasant weather, stunning scenery and high quality of life there - along with a surprisingly affordable cost of living.
If you’re considering retiring to the Philippines, read on. We’ve put together a handy guide covering everything you need to know about getting a retirement visa for the Philippines, which is the first step to relocating there.
We’ll look at the requirements and documents needed, how to apply and of course, how much it costs to get your visa.
We’ll even give you a hot tip for covering visa application fees and other relocation costs - a free multi-currency Wise account. With just one powerful borderless account, you can send money between Singapore, the Philippines and many other countries worldwide with low fees and fair exchange rates.
But more on that later - let’s start by looking at which Philippines visas are available for retirees from Singapore.
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If you’re a Singapore resident looking to spend your post-work years in the Philippines, you’ll need to apply for a Special Resident Retirees Visa (SRRV). You’re eligible for the SRRV if you are at least 35 years old¹.
This is a special, non-immigrant visa granting foreign retirees an indefinite stay in the country, with multiple entry and exit privileges. So basically, you can come and go as much as you like with this visa, which is very handy if you have family and friends back in Singapore.
There are quite a few different routes you can take with the SRRV. These include¹:
- SRRV Smile - for retirees willing to maintain an investment of 20,000 USD in a local Philippines bank
- SRRV Classic - this requires retirees to invest in Philippines property worth 10,000 to 50,000 USD (amount varies depending on your age group).
- SRRV Human Touch - for people looking to retire in the Philippines for medical reasons
- SRRV Courtesy - for former Filipinos or foreign nationals aged 50 or over who’ve served in the Philippines as diplomats
- SRRV Expanded Courtesy - for foreign nationals who are retired Armed Force officers of foreign countries (with ties or agreements with the Philippines government), able to make a minimum visa deposit of 1,500 USD and who receive a monthly pension of at least 1,000 USD.
To apply for a Philippines SRRV, you’ll need to provide the following:¹
- Original, valid passport
- Valid or updated Temporary Visitor’s Visa for the Philippines
- Original medical and police clearance documents from Singapore
- Recent, passport-sized photographs of yourself
- A completed application form
- Marriage certificate and/or birth certificate for your spouse or any children who will be joining you in the Philippines.
You must make sure that all your paperwork and documents are translated into English.
The first step to apply for your SRRV for the Philippines is to head to the Philippine Retirement Authority (PRA) website to download an application form. You’ll also find lots of information about the SRRV and how to apply.
Once you’ve completed your application form, you’ll need to submit it along with supporting documents to a PRA office. There are PRA addresses in Makati, Baguio City, Angeles, Cebu City and Davao City².
It can vary from case to case, but on average it takes from 15 to 30 working days³ to process retirement visa applications in the Philippines.
Tip - it can be quicker if you submit your application to the main PRA office rather than one of its satellite offices.
There’s a fee when applying for a Philippines SRRV, and this is the processing or service charge of around 1,400 USD (around 1,850 SGD) for the principal applicant. If a dependent is also applying to come and live with you in the Philippines, there’s an additional fee of 300 USD (around 400 SGD). ¹
Lastly, there’s an annual fee of 360 USD (around 475 SGD) to pay. ¹
If you’re getting ready to relocate to the Philippines from Singapore, you’ll need a cost-effective way to send money there in advance of your move. For example, to pay your retirement visa application fees or a deposit on your accommodation.
Take a couple of minutes to open a free Wise multi-currency account online and you can start sending money internationally with low fees and one of the fairest exchange rates around.
You can do it all from your Wise account - send and receive money between Singapore and the Philippines, spend like a local with your Wise multi-currency card and even manage your money on the move using the handy Wise app.
So, that’s everything you need to know about applying for a Philippines retirement visa from Singapore. You now have the lowdown on eligibility, the documents you’ll need, how to start an application and the fees you’ll have to pay. You should be all set for retirement bliss in this beautiful island nation. The best of luck with the big move!
Sources used for this article:
- Philippine Retirement Authority - SRRV
- Philippine Retirement Authority - Contact
- Philippine Retirement Authority - SRRV Information Guide
Sources checked on 23 February 2021
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