Yowzer

I am trying to find out more regarding the SRRV visa, I have contacted their website but not received a reply, just wondered if you knew how much a 62 year old would need to deposit, I think its 10,000 USD but not sure, also what happens to the money, can you actually get it back or is it a non refundable payment, thanks

mikemike

Yes that figure is correct and you do get it back in full if you leave the scheme. Can take a couple of days and it will be drawn on an overseas bank cheque that can take up to 40 days to clear

Yowzer

If I dont intend to leave the scheme and continue to live in the Philippines can I ever get this money back, or is it just paying for the privilege to live there, ie I just lost 10K

mikemike

Yowzer
To be a member of the SSRV you have to follow the rules which entails a deposit. If you do not want to follow the rules you leave the scheme and get your deposit back in full. So how do you lose anything, it is on a deposit account until YOU take it back by leaving the scheme. If you do not leave the scheme the funds stay on the SSRV deposit scheme


This is not difficult

Yowzer

I did say in my original post that I had contacted the website for details of the SRRV visa and as yet had not received any reply, therefore I dont know the rules of the scheme that was the purpose of posting in this forum, but many thanks for your assistance. I suppose once you actually know the rules and conditions its not difficult

quiltman

Send an email with your questions to [email protected] she is an information officer at the PRA in Manila and is very helpful. The rules are on the PRA website but that seems down for a few days whilst they do an update.

Meggiesman

Yowzer- I think - besides the $10K deposit there is a fee of $1400 - plus every year you have to renew at $360. Agreed there are certain benefits with a SRRV-Why not take the "Tourist" visa Route

Taking the " Tourist " visa route does involve some hassle of visiting BI offices to extend your visa and the subsequent ACR form- and the requirement of leaving Philippines after 3 years - then start all over again. There are fees along the way for this route - but very little difference compared to the $360 per year SRRV visa costs- but more importantly you have not tied up $10K.

I must point out I have not gone down the "Tourist " Visa route [yet] - I have travelled to the Philippines many times and seriously thinking of retiring there. [See thread about Life Certificate] My reply here is really based on advice from a couple of ex pat friends who live in Philippines

Yowzer

Many thanks appreciated, I am just trying to weigh up all the options as I am due to retire in two years, we already have a house bought, where we go as much as possible, but we are not married so 13A visa is out for the time being

Yowzer

Thank you for your advice

Yowzer

Thank you I just sent the email asking for details

Philosophical 11

Greetings!

Read on another forum yesterday that BI are actively considering "encouraging" foreigners who have a tourist visa and spending 90% of the time in the Philippines, to convert to a permanent visa. Guess that means SRRV or 13A. And screwing more money out of the foreigner. Timescale is for next year.

Enjoy the rest of your day....

LPR

I don't think we can complain about the tourist visa situation in the Philippines they are very relaxed about granting extensions. Try taking your LL on holiday to the UK, a very different story.

salgoud

On another track.

The lease you have as proof of residence for the SRRV application, how long can it be, 3 months or less.
When I eventually retire to the Philippines I intend to travel the islands for a year or two or maybe more before settling down. I will probably be staying between 3-6 months in each place. Would I need to submit to the BI SRRV office a change of address and a new lease each time I move?

On the annual renewal at the BI SRRV office would I have to show a new proof of residence lease?

Thanks

mikemike

You never used to have to produce anything. I gave them an address did not even have a lease at that time as I told them I was in a hotel waiting to get somewhere and needed the visa . After your first annual renewal you can then renew for 3 years at a time so no need to go to them for that period. When I renewed they just asked me to confirm the address they had on record to which I said 'yes'. I have not been a member since they employed this business consultant who jacked the annual fees up from 10$ pa.

I be surprised if the process has changed that much.

Stokkevn

Existing retirees are still on 10$ pa ( well at least I am ). I did not have to produce any proof of where I was living either, all they wanted was a postal address.