We are Jennifer Terri Visa Consultancy, a PRA-accredited SRRV service provider that has assisted many retirees worldwide in successfully obtaining their Special Resident Retiree’s Visa (SRRV) and settling in the Philippines with ease.
The principle of the SRRV is simple: You give the Philippine government a deposit, and in return, you receive a lifetime visa to live in the Philippines.
Many retirees have questions about this deposit:
How much is the deposit?
How do I transfer this money?
What can I do with it?
Can I withdraw it?
In this post, I will explain everything you need to know about the SRRV Visa Deposit — from the required amount and transfer process to how it can be used, withdrawn, or converted.
🏦 Purpose of the Deposit — Why PRA Requires It
The SRRV program aims to boost foreign direct investment in the Philippines — a key contributor to our nation’s economic growth and development.
The visa deposit also serves as financial security for the Philippine government — proof that retirees are self-sufficient and will not become a public burden.
💰 How Much is the Visa Deposit?
The required amount depends on your SRRV category and age.
SRRV Classic
Applicant Type | Deposit Amount (USD) |
Age 40–49, without pension | $50,000 |
Age 40–49, with pension | $25,000 |
Age 50 and above, without pension | $30,000 |
Age 50 and above, with pension | $15,000 |
SRRV Courtesy
Applicant Type | Deposit Amount (USD) |
Age 40–49, without pension | $6,000 |
Age 40–49, with pension | $3,000 |
Age 50 and above | $1,500 |
Not sure which SRRV type applies to you? Head to https://www.srrvguide.com/
💱 Can I Pay the Deposit in Pesos?
No. The deposit must be received in U.S. Dollars (USD).
If your bank account is not in USD, don’t worry — our team provides practical tips to save on conversion and transfer fees.
👩❤️👨 What if My Spouse or Children Apply with Me?
Your primary deposit covers two dependents — your spouse and/or two children under 21 years old. They can enjoy the same privileges as you do!
For additional dependents, an extra deposit of USD 15,000 is required per person.
🌍 How Do I Transfer the Money?
The visa deposit must come from a foreign source — funds outside the Philippines. Most clients transfer their deposit through wire transfer (SWIFT) or a remittance service directly to the PRA’s accredited bank, usually the Development Bank of the Philippines (DBP).
You don't want to make a mistake in this process. Dont worry, we will guide you in making the visa deposit transfer easy and safe.
🧾 How the Deposit Process Works
You wire your deposit to the PRA’s designated bank account.
PRA confirms receipt, and the bank issues your Deposit Certificate, which becomes part of your SRRV file.
We will track your deposit trasnfer and confirm once the process is complete.
💸 Can I Withdraw My Deposit?
Yes — under certain circumstances:
Cancellation of SRRV – If you decide to withdraw from the SRRV program.
Conversion (for SRRV Classic) – When your deposit is used to purchase or lease a property under PRA rules.
Involuntary Withdrawal – In the event of the retiree’s death, the deposit is released to the next of kin or distributed according to the retiree’s will.
🏡 What Can I Do with My Deposit?
If you hold an SRRV Courtesy, your deposit (USD 1,500–6,000) stays with the government. It cannot be converted into a property investment.
However, if you are under the SRRV Classic, your deposit (USD 15,000–50,000) can be converted while keeping your visa active.
Two conversion options are allowed:
Purchase of a Condominium Unit– The condo unit must be ready for occupancy and valued at USD 50,000 or more.– The deposit is released to you, the visa holder.
Long-Term Lease of a Property – The property can be a condo, house, or townhouse, as long as it’s ready for occupancy and has a minimum value of USD 50,000. The lease must be valid for 25 years. Once the PRA approves the lease contract, your visa deposit is released directly to the lessor.
This is an excellent option for foreigners who have built or invested in a home. Since foreigners cannot own land in the Philippines, having a secure, government-approved lease offers the best protection.
🔐 Is My SRRV Deposit Safe?
Yes. The SRRV deposit is not a fee or government income. It remains in a PRA-supervised account under your name, held in a government bank.
PRA only monitors and verifies the account — it never uses or reallocates your funds.
You may request a copy of your Deposit Certificate from the bank or PRA anytime for peace of mind.
📞 Need Expert Help?
If you’re unsure which SRRV category fits you best or how to safely transfer your deposit, our team at Jennifer Terri Visa Consultancy can guide you step-by-step.
We handle everything — from deposit coordination to application tracking — so you can focus on planning your retirement life in the Philippines.
Want to start?
📧 Email: info@srrvguide.com🌐 Sign up: www.SRRVGuide.com
