SRRV Retirement Visa
#61
BE Forum Addict
Joined: Nov 2012
Posts: 1,643
Re: SRRV Retirement Visa
Just an update, additional 3 hours in new bank, 41 signatures and 43 pieces of paper, then they got it wrong so had to return for another hour. Closing the old savings account was nearly 2 hours as no one could find the code which allowed them to close an account, plus another 8 pieces of paper and 11 signatures.
So to move 1 bank account and close a savings account it took 11 hours, 164 pieces of paper and 109 signatures. I love it when things go smoothly.
So to move 1 bank account and close a savings account it took 11 hours, 164 pieces of paper and 109 signatures. I love it when things go smoothly.
Now that will not happen, UK probate with 'wills' is easy enough and no IHT between husband and wife.
SRRV(the old one that cost 320 pesos pa to renew) is a good visa for those who do not have to have family considerations and save money on airport exit fees.
#62
Forum Regular
Joined: Apr 2017
Posts: 155
Re: SRRV Retirement Visa
ladies and Gents... can someone please direct me to a thread on this forum discussion value proposition of getting an SRRV vs sticking to a renewable tourist visa.. especially if your long term goals are not philipines oriented ?
Thanks in advance,
S.
Thanks in advance,
S.
#64
BE Forum Addict
Joined: Nov 2012
Posts: 1,643
Re: SRRV Retirement Visa
When resident of the Philippines but NOT a CITIZEN you may have overseas earnings and capital gains exempt from Philippines tax.
You may be liable to tax in the countries where the income and capital gains arise subject to any allowances in place.
You may be liable to tax in the countries where the income and capital gains arise subject to any allowances in place.
#65
Just Joined
Joined: Apr 2018
Posts: 14
Re: SRRV Retirement Visa
Under "3"
Benefits of SRRV Holder (Special Resident Retiree's Visa)
More from the Philippine Retirement Agency website PRA: Philippine Retirement Authority
Being a holder of Special Resident Retiree's Visa (SRRV) , one can have the following benefits:
1. Option to Retire Permanently
• You may live, work and study in the Philippines
2. Multiple Entry Privileges
• You may travel outside the Philippines and re-enter anytime
3. Exemptions from:
• Income tax over your pension and annuities;
• Exit and re-entry permits of the Bureau of Immigration;
• Annual registration requirement of the Bureau of Immigration;
• Customs Duties and Taxes with regard to the importation of household goods and personal effects up to US$7,000.00;
• Travel tax, if you stay in the Philippines is less than one year from the last entry date; and
• I-Card
As an SRR Visa holder, the PRA can assist you in obtaining basic documents from other government agencies. These include, but are not limited to:
• Alien Employment Permit
• Driver's License
• Tax Exemption/Extension Certificate
• Tax Identification Number
• National Bureau of Investigation (NBI) Clearance
Benefits of SRRV Holder (Special Resident Retiree's Visa)
More from the Philippine Retirement Agency website PRA: Philippine Retirement Authority
Being a holder of Special Resident Retiree's Visa (SRRV) , one can have the following benefits:
1. Option to Retire Permanently
• You may live, work and study in the Philippines
2. Multiple Entry Privileges
• You may travel outside the Philippines and re-enter anytime
3. Exemptions from:
• Income tax over your pension and annuities;
• Exit and re-entry permits of the Bureau of Immigration;
• Annual registration requirement of the Bureau of Immigration;
• Customs Duties and Taxes with regard to the importation of household goods and personal effects up to US$7,000.00;
• Travel tax, if you stay in the Philippines is less than one year from the last entry date; and
• I-Card
As an SRR Visa holder, the PRA can assist you in obtaining basic documents from other government agencies. These include, but are not limited to:
• Alien Employment Permit
• Driver's License
• Tax Exemption/Extension Certificate
• Tax Identification Number
• National Bureau of Investigation (NBI) Clearance
#67
Just Joined
Joined: Sep 2017
Posts: 28
Re: SRRV Retirement Visa
The monthly pension requirement. Is it enough to have a document from the UK Pension office confirming a pension or must it be paid monthly to a Philippine bank?
Thanks for any details experience you have on this
Thanks for any details experience you have on this
#68
BE Forum Addict
Joined: Feb 2014
Location: Capiz
Posts: 1,646
Re: SRRV Retirement Visa
If it is not long term, then I would stick to tourist visa. SRRV only really comes into it's own when you no longer can make the yearly trip to the BI. I only got mine because he 13a said that they did not accept my wife's UK divorce from her UK husband, along with the suggestion that money may make this problem go away.
#69
BE Forum Addict
Joined: Dec 2013
Location: Consolacion,Cebu
Posts: 1,931
Re: SRRV Retirement Visa
If it is not long term, then I would stick to tourist visa. SRRV only really comes into it's own when you no longer can make the yearly trip to the BI. I only got mine because he 13a said that they did not accept my wife's UK divorce from her UK husband, along with the suggestion that money may make this problem go away.
#70
BE Forum Addict
Joined: Dec 2013
Location: Consolacion,Cebu
Posts: 1,931
Re: SRRV Retirement Visa
There is no rule saying you have to remit it every month - many often remit every quarter for example. I do a monthly transfer, but not necessarily of the full pension, it depends on my needs that month!
#71
Just Joined
Joined: Sep 2017
Posts: 28
Re: SRRV Retirement Visa
Have not read through all these replies, so forgive me if my questions has already been answered.
Exit Visa:
Have seen two answers to this on other forums. Exit visa is exempt within 1 year or 18 months?
If leaving and returning within/after the 12/18 month exemption period, does the clock start ticking again from your return date.
Philippines Bank account:
Amongst other services provided in the SRRV process, can the agents set you up with personal bank account. I have read in some forums that some expats have 'RECENTLY' been refused bank accounts even though they have a SRRV visa and many with ACR cards also refused. As a Retirement Guest I would expect that the SRRV would be a guarantee that you are entitled to a Philippine bank account
Thanks
Exit Visa:
Have seen two answers to this on other forums. Exit visa is exempt within 1 year or 18 months?
If leaving and returning within/after the 12/18 month exemption period, does the clock start ticking again from your return date.
Philippines Bank account:
Amongst other services provided in the SRRV process, can the agents set you up with personal bank account. I have read in some forums that some expats have 'RECENTLY' been refused bank accounts even though they have a SRRV visa and many with ACR cards also refused. As a Retirement Guest I would expect that the SRRV would be a guarantee that you are entitled to a Philippine bank account
Thanks
#72
BE Forum Addict
Joined: Nov 2012
Posts: 1,643
Re: SRRV Retirement Visa
You are expected to travel annually to maintain the free of charge exit clearance within the calendar year starting January 1st.
I have never known anyone to be turned away from a new bank account request when on an SRRV as it is a permanent residents visa for which you will receive the PRA ACR Card.
Why not open an account with the bank that accepts your SRRV deposit. once settled with address , bank statements and ACR card opening another account with another bank , should you need it will be easy enough.
I have never known anyone to be turned away from a new bank account request when on an SRRV as it is a permanent residents visa for which you will receive the PRA ACR Card.
Why not open an account with the bank that accepts your SRRV deposit. once settled with address , bank statements and ACR card opening another account with another bank , should you need it will be easy enough.
#73
BE Forum Addict
Joined: Feb 2014
Location: Capiz
Posts: 1,646
Re: SRRV Retirement Visa
I have never been asked for exit clearance fee while I have been on my SRRV, I was here for 4 years and then traveled to the UK for 1 year and just recently went for a boys weekend having not traveled out of the country for nearly 5 years. Neither time was I asked for any clearance fee.
#74
BE Forum Addict
Joined: Nov 2012
Posts: 1,643
Re: SRRV Retirement Visa
Stok
Looks like the terms and conditions have changed since I was on the SRRV. I left that to 13a in 2011. Up to then you did have to travel once a year to maintain the exemption from travel tax as opposed to exit clearance.
Looks like the terms and conditions have changed since I was on the SRRV. I left that to 13a in 2011. Up to then you did have to travel once a year to maintain the exemption from travel tax as opposed to exit clearance.
#75
BE Forum Addict
Joined: Jun 2014
Location: Philippines
Posts: 1,853
Re: SRRV Retirement Visa
Greetings!
If this aspect of the SRRV has been discussed before....then apologies.
Chatting to an US friend recently who is on SRRV, he states that as a US Vet he can avail the SRRV for only 1500 USD and then a yearly subscription of 250 USD. This is because under the provision of SRRV, those ex-military who come from countries that have formal defence agreements with the Philippines are entitled to this privilege. Obviously the US has close military ties with the Philippines.
Now, he reckons us Brits may be able to avail ourselves to the same privilege because according to a clip he showed me, the UK was renewing a defence agreement in London two years ago. If I remember correctly, there were discussions between Gove and a delegation from the Philippines. I have tried to research the outcome of this meeting to no avail....nor can I find out what the extent of the defence agreement is.
I suspect the link between the UK and the Philippines as far as any defence agreement is concerned is too insignificant to allow us to avail this discounted SRRV, but it maybe that someone out there may know better. Or, if starting the process of applying for SRRV might wish to pursue that avenue.
On the subject of SRRV.....I wonder what advantages that has over 13A.....if any?
Regards
If this aspect of the SRRV has been discussed before....then apologies.
Chatting to an US friend recently who is on SRRV, he states that as a US Vet he can avail the SRRV for only 1500 USD and then a yearly subscription of 250 USD. This is because under the provision of SRRV, those ex-military who come from countries that have formal defence agreements with the Philippines are entitled to this privilege. Obviously the US has close military ties with the Philippines.
Now, he reckons us Brits may be able to avail ourselves to the same privilege because according to a clip he showed me, the UK was renewing a defence agreement in London two years ago. If I remember correctly, there were discussions between Gove and a delegation from the Philippines. I have tried to research the outcome of this meeting to no avail....nor can I find out what the extent of the defence agreement is.
I suspect the link between the UK and the Philippines as far as any defence agreement is concerned is too insignificant to allow us to avail this discounted SRRV, but it maybe that someone out there may know better. Or, if starting the process of applying for SRRV might wish to pursue that avenue.
On the subject of SRRV.....I wonder what advantages that has over 13A.....if any?
Regards
Last edited by Philosophical 11; Mar 24th 2019 at 4:40 am.