Titled "Greed", the film is a satirical take on the world of the super-rich and the lavish lifestyles of the elite, perma-tanned billionaire businessmen who invests money into offshore tax havens, reported Contactmusic.
The 45-year-old actor will go through a complete physical transformation for the role.
"Sacha will have an almost uncanny resemblance to Philip and those close to the producers believes it's more than a nod to him. He'll look more portly, with balding grey hair which is left long at the back.
The film is being directed by British filmmaker Michael Winterbotton.