Philippine Retirement Authority

What Philippine Retirement Authority does

The Philippine Retirement Authority (PRA) is a Government Owned and Controlled Corporation (GOCC) of the Republic of the Philippines, attached to the Department of Tourism under Republic Act No. 9593 (Tourism Act of 2009). Established on July 4, 1985 via Executive Order No. 1037 and headquartered in Makati City at the 29th Floor of BDO Tower (Valero Condominium Corporation), PRA administers the Special Resident Retiree's Visa (SRRV) program, a non-immigrant visa issued by the Bureau of Immigration through PRA that grants qualifying foreign nationals aged 40+ and former Filipino citizens indefinite stay in the Philippines. The SRRV product line includes multiple variants — SRRV Classic (USD 15,000-50,000 visa deposit depending on age and pensioner status), SRRV Courtesy (USD 1,500-6,000, for diplomats, international organization officers, retired military, and high achievers), SRRV SMILE, SRRV Human Touch, and SRRV Expanded Courtesy — supported by ISO 9001:2015-certified operations (since 2018).

PRA monetizes through one-time SRRV processing fees (USD 1,500 plus USD 300 per joining dependent), recurring annual visitorial fees ranging from USD 50 to USD 360 per holder tier, ID services and miscellaneous transaction fees (USD 5-10), and holds required visa deposits in eight-plus accredited banks including DBP, PNB, BDO, Security Bank, UnionBank, Bank of Commerce, KEB Hana Bank, Shinhan Bank, and Yuanta Savings Bank. Distribution runs through the Makati headquarters, four satellite offices (Baguio, Clark-Subic, Cebu, Davao), an online E-Services portal (registration, ID renewal, payment status, statements, bank transfer, certification requests), a network of 281+ accredited third-party marketers (travel agencies, law firms, brokers), and merchant partners offering lifestyle, healthcare, and hospitality discounts. PRA has been self-sustaining as a GOCC since the 1992-1998 period, employs 51-100 staff, and operates under a current leadership team led by General Manager/CEO Roberto Z. Zozobrado (appointed February 15, 2024) with the Department of Tourism Secretary serving as Board Chairperson.

Name

Philippine Retirement Authority

Legal name

Philippine Retirement Authority

Website

https://pra.gov.ph

Company type

Private

Founded year

1985

Operating status

Operating

Headcount range

51–100 employees

Short description

The Philippine Retirement Authority is a Philippine government-owned corporation that administers the Special Resident Retiree's Visa (SRRV) program, offering indefinite-stay retirement residency to qualifying foreign nationals aged 40+ and former Filipino citizens through a network of HQ, satellite offices, accredited banks, and 281+ marketers.

Ownership category

akta.pro rank

Product category

Retirement Visa and Residency Services

NAICS

Services for the Elderly and Persons with Disabilities (624120)

akta.pro primary industry

Pensions & Retirement Benefits Administration (BPAIAKAA)

Keywords

• Retirement visa services
• Special resident visa
• Government retirement authority
• Retiree immigration program
• Retirement residency permits

Headquarters

HQ city

Manila

HQ country

Philippines

HQ region

Asia

Offices5 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Marketing or Sales, Technology or R&D, Infrastructure, Others

Revenue model

1. SRRV Processing Fees: One-time processing fee of USD 1,500.00 for SRRV applications, payable upon submission of requirements. Additional USD 300.00 fee for each joining dependent.
2. Annual PRA Fees: Annual visitorial fees charged to SRRV holders for membership maintenance. SRRV Classic: USD 360.00 for principal + 2 dependents; SRRV Courtesy: USD 100.00 for foreign nationals, USD 50.00 for former Filipinos. Additional fees for extra dependents.
3. Visa Deposits: Required dollar deposits held in PRA-accredited banks as security for SRRV membership. SRRV Classic requires USD 15,000-30,000 for pensioners/non-pensioners aged 50+; SRRV Courtesy requires USD 1,500-6,000 for qualifying retirees.
4. ID Services and Miscellaneous Fees: Fees for ID renewal (USD 10/member under old schemes), ID replacement (USD 10/retiree), SRRV re-stamping (USD 10 + PHP 1,010 Bureau of Immigration fee), and certification services (USD 5/member).

Pricing tiers

Go-to-market motion2 records

Distribution channels5 records

Marketing channels6 records

Core offering

Philippine Retirement Authority is a government-owned and controlled corporation that administers the Special Resident Retiree's Visa (SRRV) program, the only government-backed retirement visa in the Philippines. The SRRV allows foreign nationals aged 40+ and former Filipino citizens to obtain indefinite-stay residency in the Philippines with multiple-entry privileges, tax exemptions on pensions, customs duty exemption on household goods up to USD 7,000, and access to PhilHealth special rates. Supporting services include ID card issuance/renewal, re-stamping, certifications, bank transfers, and online processing through the E-Services portal and four satellite offices.

Product overview

The Philippine Retirement Authority (PRA) operates a government-mandated retirement visa program centered around the Special Resident Retiree's Visa (SRRV). The SRRV is a special non-immigrant visa that allows foreign nationals and former Filipino citizens to live and retire long-term in the Philippines. The core SRRV product includes multiple variants: SRRV Classic (requiring USD 15,000-50,000 deposit), SRRV Courtesy (for diplomats, military, and high achievers at USD 1,500-6,000), SRRV SMILE, SRRV Human Touch, and SRRV Expanded Courtesy. Supporting the visa program are service offerings including ID Services (ID renewal, replacement), Servicing Request Services (re-stamping, certifications, bank transfers, investment conversions, cancellations), Request for Assistance (helping retirees obtain AEP, driver's licenses, tax exemptions from various government agencies), and an E-Services Portal for online transactions. The organization maintains ISO 9001:2015 certification for quality management.

Differentiator

Problem solved

Functional benefit

Brands

• SRRV (Special Resident Retiree's Visa): A special non-immigrant visa issued by the Bureau of Immigration through the Philippine Retirement Authority, allowing retirees to enter, stay, and experience the Philippines as a retirement destination. Options include SRRV Classic, SRRV SMILE, SRRV Courtesy, and SRRV Human Touch.

Products and services

• SRRV (Special Resident Retiree's Visa) A special non-immigrant visa issued by the Bureau of Immigration through the Philippine Retirement Authority, allowing foreign nationals and former Filipino citizens to enter, stay, and experience the Philippines as a retirement destination with indefinite stay and multiple-entry privileges, tax exemptions on pensions, and customs duty exemption on household goods up to USD 7,000.
• SRRV Classic An SRRV option for principal retirees, pensioners or non-pensioners aged 40+, who may opt to use the Visa Deposit/Requisite Dollar Time Deposit for investment purposes. Requires USD 15,000-50,000 visa deposit depending on age band (40-49 vs. 50+) and pensioner status, with USD 1,500 processing fee and USD 360 annual fee for principal + 2 dependents.
• SRRV Courtesy An SRRV option for retired diplomats, officers of international organizations recognized by DFA, retired military service members, and high achievers in academic, business, arts, culture, music, sports, and philanthropy. Also available to former Filipino citizens naturalized in other countries. Requires USD 1,500-6,000 deposit with annual fees of USD 50-100.
• SRRV SMILE SRRV product line rebranded under the SMILE Program offering retirement visa services with special benefits and incentives for retirees.
• SRRV Human Touch SRRV variant designed for retirees with a humanistic, personalized approach to retirement services and member support.
• SRRV Expanded Courtesy Extended SRRV Courtesy option providing visa benefits to additional qualifying categories of foreign nationals beyond the original Courtesy criteria.
• ID Services Services for printing, updating, and renewing SRRV ID cards including ID replacement in cases of loss or damage. PRA ID Cards are issued with two-year validity pursuant to PRA Circular No. 004 dated 30 June 2025. Fees include USD 10/member for renewal under old schemes, USD 10/retiree for replacement, USD 5/member for certifications.
• Servicing Request Services Member-related requests including re-issuance/restamping of SRRV, request for certifications, bank transfers, conversion of visa deposit into active investment, cancellation of SRRV, and other member services. Includes SRRV re-stamping fees of USD 10 plus PHP 1,010 Bureau of Immigration fee.
• Request for Assistance Assistance services for SRRV holders in obtaining basic documents from Philippine government agencies including Alien Employment Permit (AEP) from DOLE, conversion of foreign driver's license to Philippine license from LTO, tax exemption certificates from DOF, and TIN from BIR.
• PRA E-Services Portal Web-based online platform enabling SRRV applicants and holders to register, login, request services, check payment status, access statements of account, and transact with PRA through the internet. Services include Letter of Introduction, ID Renewal, ID Restamping, Payment Status, Bidding Documents, Statement of Account, Certificate of Employment, ID Replacement, and Bank Transfer. Available 24/7 with secure login authentication.

Quantifiable outcome

• Permanent residency with multiple entries and indefinite stay in the Philippines
• +2 more outcomes

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature3 records

Partnerships

14 partnerships are on record, tiered core and minor.

• Development Bank of the Philippines (DBP)coreChannel Partner/ Reseller/ DistributorGovernment bank accredited by PRA to accept SRRV visa deposits. Provides intermediary/c correspondent bank services through JP Morgan Chase Bank NY and Citibank NA for international wire transfers. SRRV holders can maintain visa deposits at DBP with account number 0405-027438-100.
• Philippine National Bank (PNB)coreChannel Partner/ Reseller/ DistributorPrivate bank accredited by PRA to accept SRRV visa deposits. All PNB branches are authorized to process SRRV deposits. Contact: Ms. Sheena Pascual at +63-2-816-3311 loc 3358.
• BDO Unibank, Inc.coreChannel Partner/ Reseller/ DistributorPrivate bank accredited for SRRV deposits at Pacific Star (Makati) and Cebu-Asiatown IT Park branches only. Contacts: Kimberly Inumerable/Theresa Capati at +63-2-811-5938/5937/5939.
• Security BankcoreChannel Partner/ Reseller/ DistributorPrivate bank accredited for SRRV deposits. Contact person: Darwin S. Duque at [email protected]. SMS: +63 917 507 6390.
• KEB Hana BankminorChannel Partner/ Reseller/ DistributorFormerly Korea Exchange Bank. Accredited at Manila Branch (Makati Ave. Cor Paseo De Roxas). Contact: Ms. Cres Agbisit at 848-1988 loc 102.
• UnionBankcoreChannel Partner/ Reseller/ DistributorPrivate bank accredited for SRRV deposits at all branches. Contact: Mr. Jeff Bartoloso at +63-2-667-6388 loc. 8670.
• Bank of CommercecoreChannel Partner/ Reseller/ DistributorPrivate bank accredited for SRRV deposits at all branches. Contact: Mr. Peter M. Co at +632-8-840-3261 / +632-8-982-6000 loc.7801.
• Shinhan BankminorChannel Partner/ Reseller/ DistributorPrivate bank accredited for SRRV deposits at Manila Branch (RCBC Savings Corporate Center). Contact: Josefino A. Velasco at 8405-6330.
• Yuanta Savings BankminorChannel Partner/ Reseller/ DistributorPrivate bank listed as accredited for SRRV deposits. Status: Coming soon.
• PhilHealthcoreStrategic or Co-development PartnerPartnership agreement signed between PRA and PhilHealth for special health insurance rates for SRRV holders. Provides PhilHealth Insurance Special Rate benefit to retirees.
• Bureau of ImmigrationcoreStrategic or Co-development PartnerBureau of Immigration issues the SRRV through PRA and has a data sharing agreement with PRA. Also executes endorsement letters for SRRV cancellation, re-stamping, and other visa-related services.
• Department of TourismcoreStrategic or Co-development PartnerPRA is an attached agency of the Department of Tourism under Republic Act No. 9593 (Tourism Act of 2009). DOT Secretary serves as Chairperson of PRA Board. Retirement industry named as flagship project of National Government.
• INTERPOLminorStrategic or Co-development PartnerAgreement signed between PRA and INTERPOL for enhanced security and verification processes in SRRV administration.
• PRA Merchant PartnerscoreChannel Partner/ Reseller/ DistributorAccredited business establishments including diagnostic/medical clinics, nursing homes, hotels, resorts, restaurants, law firms, accounting firms, and lifestyle providers offering discounts and privileges to SRRV holders upon presentation of PRA ID card.

Scale indicators5 records

Recent moves12 records

Expansion highlights5 records

Direct peers

• Ecuador Pensioner Visa: Ecuador offers a pensioner visa (9-II category) granting residency to retirees with lifetime pension income. It competes with SRRV in the Latin American/Southeast Asian retirement corridor for foreign retirees seeking low-cost residency in developing-market destinations.
• Thailand Privilege Card (Thailand Elite): Thailand Elite is a government-linked long-stay visa program offering membership-based residency privileges to foreign nationals, with multiple membership tiers by deposit level. It competes directly with PRA's SRRV for affluent retirees in the ASEAN retirement market, offering similar tax and residency benefits in a neighboring tropical destination.
• Panama Pensionado Program: Panama's Pensionado program offers lifetime residency to retirees with lifetime pension income, providing discounts on healthcare, transportation, and entertainment. It is a direct peer to PRA's SRRV in serving foreign retirees with pension-based qualifications through a government-administered visa pathway.
• Mexico Temporary Resident Visa: Mexico's Temporary Resident Visa offers residency to retirees and individuals with passive income or financial solvency, administered through Mexican consulates. It directly competes with SRRV for North American retirees seeking affordable tropical retirement residency in a geographically accessible destination.
• Malaysia My Second Home (MM2H) Program: MM2H is a Malaysian government program offering long-term residency visas to foreign retirees and high-net-worth individuals, requiring fixed deposits and offering multiple-entry residency privileges. It is a direct competitor to PRA for foreign retirees seeking Southeast Asian residency, with similar deposit-based qualification criteria.
• Costa Rica Pensionado Program: Costa Rica's Pensionado visa offers residency to retirees with lifetime pension income, with a similar low-deposit qualification model to SRRV Courtesy. It is a direct peer competing for foreign retirees seeking affordable tropical residency, though operating in a different geography.
• Belize Qualified Retired Persons Program: Belize's QRP program offers residency to retirees aged 45+ with demonstrated income from outside Belize, providing tax exemptions on foreign income. It is a direct peer to SRRV for foreign retirees pursuing low-cost tropical residency with government-administered visa pathways.

Broad incumbents

• Spain Non-Lucrative Visa: Spain's Non-Lucrative Visa grants residency to retirees and non-work individuals with sufficient passive income, administered through Spanish consulates. It is a broader EU incumbent offering residency-by-income functionality similar to SRRV, with the added benefit of EU mobility.
• Italy Elective Residence Visa: Italy's Elective Residence Visa grants residency to retirees and individuals with substantial passive income who choose to reside in Italy without working. It is a broader EU incumbent offering retirement residency similar in concept to SRRV, but operates within the EU and attracts a different retiree demographic.
• Portugal D7 Visa / Residency Program: Portugal's D7 visa offers residency to retirees and individuals with passive income, administered by Portuguese consulates. It is a broader EU-based incumbent offering similar residency-by-income functionality to SRRV, but operates within the Schengen Area, providing geographic advantages PRA cannot match.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/@PhilippineRetirementAuthority
• Facebookfacebook.com/PhilippineRetirementAuthorityOfficial

Compliance1 record

Revenue estimate

Valuation estimate

Number of profiles

Profiles10 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Philippine Retirement Authority