SRRV Retirement Visa

Old Feb 23rd 2014, 8:16 am
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Default Re: SRRV Retirement Visa

Originally Posted by quiltman
Re exemption from UK tax for holders of SRRV. We have recently emigrated here to Cebu and before we left I corresponded with HMRC. Although there is a double taxation agreement with the Philippines it does NOT apply to any pensions classed as Government pensions. This includes State Pensions, Teachers Pensions and similar. It does apply to private pensions.
In my case I have a couple of smallish private pensions so I can apply to receive these gross BUT HMRC take tax due on my state pension from these private pensions.So the difference will not be large but still welcome!You have to have been away from UK for a full tax year in order to claim.
Yes you still get the annual increase and just last month I got the winter fuel allowance credited to my UK account even though both HMRC & DWP know we live here. Maybe next year it won't appear! I also got the 10 pound Xmas bonus!

Also you can join PhilHealth as an individual paying subscriber. This gives you various discounts on hospital treatment and may be worth it for expats who cannot afford full medical insurance. The latest cost I have is 2500 pesos a year.

Does anyone know if the Philippine government have actioned their decision to grant SRRV holders similar privileges as senior citizens? This includes 20% discount on prescriptions, free parking etc. The PRA published a notice last year that the government was going to implement this.
Unless travelling outside the country on a regular basis i see no advantage in SRRV, a 13A is more than adequate, or if unable to marry officialy, due to wives being married previously, a quota visa is the one, and yes, in PI only monies earned here are taxed, relax and enjoy.
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Old Feb 23rd 2014, 9:43 am
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Default Re: SRRV Retirement Visa

Hi Swazza,
you would be correct re the 13A visa except it does not apply in my case as my wife is English! We retired here to live with our sons so the SRRV is currently the best for us.
We could keep renewing our tourist Visa every 60 days and leave the country every 16 months or so for a long weekend I suppose.

Visas are a bit of a minefield no matter what country you live in!
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Old Feb 23rd 2014, 10:16 am
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Default Re: SRRV Retirement Visa

Since I'm planning to scale down work in China and slowly move my base to the Philippines, for the time being 59-day tourist visas are my favoured option, simply because they involve less expense and bureaucracy. In a few years' time, with the possibility of being 'snagged' and of less mobility, I may well revise my opinion.
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Old Feb 23rd 2014, 9:49 pm
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Default Re: SRRV Retirement Visa

Originally Posted by quiltman
Hi Swazza,
you would be correct re the 13A visa except it does not apply in my case as my wife is English! We retired here to live with our sons so the SRRV is currently the best for us.
We could keep renewing our tourist Visa every 60 days and leave the country every 16 months or so for a long weekend I suppose.

Visas are a bit of a minefield no matter what country you live in!
Sorry about that quiltman, i assumed a Pinay, you are on the right track, it will all work out in the end, patience is a virtue. Only last year i believe they actually extended the renewal program for Tourist visas, it`s certainly up to two years, and possibly over. Call Leo the immigration specialist in Swagman travel, ask him the max allowable stay, 09157277138. If you are staying indefinitely get a visa, it`s easier and cheaper in the long haul, those renewals add up!
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Old Apr 26th 2014, 3:07 am
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Default Re: SRRV Retirement Visa

I'm assessing the SRRV visa on behalf of my mother as an option for moving out of the UK. My wife and I live in Australia but we have family on her side in the Philippines so it's looking like a good half way house for us all her pension will obviously go a lot further.

I had just one question - It seems the SRRV Smile and Classic both suggest that you need to deposit between $10,000 and $20,000 and this is 'locked-in' in the bank - Is this correct? So your effectively purchasing the visa for this price and only get the money back should you leave?

Is there a way around this? Or rather than make a deposit could a Philippines citizen act as a guarantor?
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Old Apr 26th 2014, 5:06 am
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Default Re: SRRV Retirement Visa

Originally Posted by attrition
I'm assessing the SRRV visa on behalf of my mother as an option for moving out of the UK. My wife and I live in Australia but we have family on her side in the Philippines so it's looking like a good half way house for us all her pension will obviously go a lot further.

I had just one question - It seems the SRRV Smile and Classic both suggest that you need to deposit between $10,000 and $20,000 and this is 'locked-in' in the bank - Is this correct? So your effectively purchasing the visa for this price and only get the money back should you leave?

Is there a way around this? Or rather than make a deposit could a Philippines citizen act as a guarantor?
no way around except to buy a condo and use the deposit to fund that
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Old Apr 26th 2014, 7:46 am
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Default Re: SRRV Retirement Visa

the SRRV provides a cheap visa for "returning Filipinos" and so if the lady is a Filipino with foreign nationality she can enter under this ruling for a small cost of about $300. We did it this way and my wife is the principal visa holder with me as the dependent. We leave the $300 in the bank to rollover and we pay nothing to the SRRV people except a small fee for the 3 year renewal.

make sure that the lady is fit and can pass a medical???
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Old Apr 26th 2014, 10:43 am
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Default Re: SRRV Retirement Visa

Originally Posted by sunnydays
the SRRV provides a cheap visa for "returning Filipinos" and so if the lady is a Filipino with foreign nationality she can enter under this ruling for a small cost of about $300. We did it this way and my wife is the principal visa holder with me as the dependent. We leave the $300 in the bank to rollover and we pay nothing to the SRRV people except a small fee for the 3 year renewal.

make sure that the lady is fit and can pass a medical???
sorry you are correct i missed that part about being related as possible returning Filippina
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Old Jun 30th 2014, 3:33 am
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Default Re: SRRV Retirement Visa

Originally Posted by robbo462003
Hello everyone ,can anyone tell me are holders of the SVVR visa exempt from paying tax on pensions received from outside the phil?
YES as long as there is a Tax Agreement in place. Canada and the UK have one. Any income earned out side the Phils on which u have paid tax is not subject to a second tax
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Old Aug 9th 2014, 7:54 am
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Default Re: SRRV Retirement Visa

Not quite correct PaulHudson. I have an SRRV and been issued with a tax exemption order. I have a TIN (Tax Identification Number) here in PH.
Any monies I bring into PH from outside are free of tax, whether you have already paid tax in another country or not.
In my case I have two smallish private pensions in the UK which are currently lumped into my State Pensions for UK tax purposes.
Under the double taxation agreement, I can elect to pay tax on these private pensions here in PH. HMRC then issue instructions to the providers to pay them gross. As an SRRV holder, I am exempted from paying tax on them here. Effectively I am paying tax at zero percent here.
This, as i explained in earlier posting does NOT apply to State or government pensions as these are excluded from the double taxation agreements.
If you have a large private pension then it's well worth getting the SRRV just for the tax exemption privilege.
HOWEVER, any money in interest bearing accounts here is NOT covered and they will take the 20% withholding tax from the earned interest.
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Old Aug 9th 2014, 9:49 am
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Default Re: SRRV Retirement Visa

so assuming your occupational scheme is about 10,500 pa and your state scheme is 6000pa you would be subject to Uk tax on part of your income above your allowances.

If you have the double taxation agreement under the SRRV. The occupational scheme is now exempt from Uk taxes. Is the state pension also exempt as it now falls under the minimum tax threshold or does the tax threshold still get applied for total earnings with just the state part being taxable?

If so then I cannot see how the state pension would ever be taxable in the UK under a double taxation arrangement, no matter how much your occupational scheme is as it would always be exempt under the double taxation rule.

Last edited by mikemike; Aug 9th 2014 at 9:51 am.
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Old May 3rd 2016, 10:19 am
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Default Re: SRRV Retirement Visa

Can anyone tell me the full procedure on how to get a SRRV visa and the cost, for the Philippines, I am British retired living in the Uk.
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Old May 3rd 2016, 10:39 am
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Default Re: SRRV Retirement Visa

Have a look at My Philippine Life.com here is the link Philippine Retirement Visa: my experience with the SRRV | My Philippine Life

I would be interested to know your thoughts after you have read it.
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Old May 3rd 2016, 11:47 pm
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Default Re: SRRV Retirement Visa

Originally Posted by williambilly
Can anyone tell me the full procedure on how to get a SRRV visa and the cost, for the Philippines, I am British retired living in the Uk.
Come on Billy, just google the SRRV and read it up. There are some requirements that change over the years and so you must be up to date.

We did the SRRV but as a "returning Filipino" because my wife has a British passport. the cost was only $300 and it still is in the bank for their commission.

One important aspect is that the funds for the purchase of the visa must enter the Philippines via transfer methods and not cash in hand.

Have all the medical checks done here since it is cheaper and quicker.

We renew the visa every 3 years easy pesy
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Old May 4th 2016, 1:14 am
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Default Re: SRRV Retirement Visa

Originally Posted by sunnydays
Come on Billy, just google the SRRV and read it up. There are some requirements that change over the years and so you must be up to date.

We did the SRRV but as a "returning Filipino" because my wife has a British passport. the cost was only $300 and it still is in the bank for their commission.

One important aspect is that the funds for the purchase of the visa must enter the Philippines via transfer methods and not cash in hand.

Have all the medical checks done here since it is cheaper and quicker.

We renew the visa every 3 years easy pesy
Does this affect your wife's ability to hold a UK passport?
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