THE Philippines targets to increase the issuance of Special Resident Retiree’s Visa (SRRV) by 4,000 this year, targeting to attract nationals from Europe, the United States, and Canada.
SRRVs is a non-immigrant visa that allows multiple-entry and indefinite stay in the Philippines to qualified foreigners aged 50 and above.
“Our target now is really more Europeans and more from North America – both the US and Canada,” said Philippine Retirement Authority (PRA) General Manager and Chief Executive Officer Roberto Zozobrado in a phone interview on Friday, drawing comparison to the growing number of European and American retirees in neighboring Thailand.
The PRA is actively participating in international expositions that cater to retirees and pre-retirees, such as the Salon des Séniors 2025 in Paris last March, where it secured about a hundred leads.
Based on the latest PRA data, some 3,812 foreigners enrolled for an SRRV last year, up from the 3,108 recorded in 2023.
Chinese nationals are still the top SRRV applicants, making up 40 percent of the total 2024 figures, followed by US citizens, Indians, and Koreans, Zozobrado said.
“2024 was a very good year for us. This is in spite of the problems we had with POGOs (Philippine Offshore Gaming Operators) and things like that,” he said, citing cancellations from Chinese applicants when the issue erupted a year ago.
The Senate last year raised alarm over the POGO workers who were discovered staying in the country using SRRVs.
Rigorous screening
Zozobrado assured that a strict vetting process is in place to screen all applicants and ensure that they do intend to retire in the country.
“Because of that POGO problem, we applied more security measures, monitoring measures just to be sure that we are safe,” he said.
The official, who assumed office at the height of government investigations and congressional hearings into Chinese nationals linked to illegal POGOs, said PRA contracted more personnel focused on checking the applicant’s background.
The Philippines issued close to 80,000 SRRVs since 1987, with around 60,000 still in active use.
Filipino hospitality is a top consideration for most of these retirees when asked why they decided to choose the Philippines as a retirement destination instead of other Southeast Asian countries like Indonesia, Thailand or Malaysia, Zozobrado said.
“Their number one reason is always, ‘I like the way Filipinos take care of old people, of course, the hospitality of the Filipinos, English communication, lower cost of living and then easy access to nature — that’s up there in the list,” he added.
The PRA sustains a program that provides various Filipino experiences to SRRV holders.
It also partnered with about 400 hotels, restaurants, resorts, and wellness centers to provide these foreign retirees a special discount, given that they are not entitled to the 20 percent discount privileges for Filipino citizens. (PNA)
