SRRV -worth it or not?

[bigpearl]

19 hours ago, Jack Peterson said:

Not wanting to burst any bubbles BUT I don't see how a Lease in whosoever name has a tangible equity for a deposit. Any money paid on a lease for for a specific issue. A lease surely  has no resale value as would land etc

 Just a thought 

The truth is out Jack and we hear you but from my experience a lease especially a long term 25+25 is a sellable commodity providing it is written into the lease, sellable, bequeathment should be included, subletting and the simple right to have free reign with: 1/ developments and improvements that meet local standards and fees paid accordingly. 2/ unencumbered and uninterrupted use of the land, (existing and future buildings and improvements owned by the lessor) again written into the lease and plethora of other stuff as suits your needs. After 25 years I probably won't be around to renew the lease but wish to give my family the option.

The PRA recognise and approve long term leases and it is clearly expressed on their site/s. Time will tell though Jack as we are some 18 months away from the SRRV venture.

Cheers, Steve.

[Jack Peterson]

3 hours ago, bigpearl said:

Time will tell though Jack

AS is But and I always say there is a but, If you sell part of the lease it is less than maybe is needed to satisfy the Deposit and also reduces the hold you have on the thing/Land it was paid for, Sorry but i would need more than this to satisfy myself it is Up Front, we know cash is king here so? 

[MikeB]

7 hours ago, mogo51 said:

Yes I see your point, whilst I agree mostly, there are a few problems.  First being whenever you travel, the costs are doubled as you have to have spouse with you.  That does not suit me, as I travel mainly back to Oz solely.  Getting a visa to Oz is a total rob as my  fellow Aussies will no doubt agree with.  If there was a 30 day free period like most other countries, then it would not be such an issue.

Also getting an ACR card, when I went to BI (should be BS) all they were interested in was getting me onto a 13A.  

I agree the application fee then the yearly slog, which is not much less than 12 months of tourist visa extensions, make it a lot less attractive.  But my main objection is $10kUS in the hands of Philippine banks.

There is no perfect solution, you have to pick what works best for you. For me it would be as I said because I want nothing to do with BI. I would not go through the 13a again. Besides all the forms and fees I find this probationary/permanent thing absurd. When we were interviewed for the 2nd time by the same woman lawyer she asked my wife in the lingo if I went out drinking and running around at night. Of course I didn't know that and didn't find out until much later. Would that disqualify me from their precious permanent resident visa when 99% of the male population does exactly that? Or would that qualify me because it would prove that I truly belong?

[Jollygoodfellow]

6 hours ago, MikeB said:

When we were interviewed for the 2nd time by the same woman lawyer she asked my wife in the lingo if I went out drinking and running around at night. Of course I didn't know that and didn't find out until much later. Would that disqualify me from their precious permanent resident visa when 99% of the male population does exactly that? Or would that qualify me because it would prove that I truly belong?

I guess you need to look at it in another perspective. Its their country and if their citizens are like that then why should they import more of the same ?  Honestly I dont see your point as no matter what country you may try to live permanently they have questions and restrictions. 

[MikeB]

12 minutes ago, Jollygoodfellow said:

I guess you need to look at it in another perspective. Its their country and if their citizens are like that then why should they import more of the same ?  Honestly I dont see your point as no matter what country you may try to live permanently they have questions and restrictions. 

If it's an honest open question why wasn't it asked in the common language of English, which we all understood and how we started off, instead of Cebuano slang between the kabayans? 

If you bring your spouse to Aus do they ask you if she screws around and drinks before deciding to grant him/her residency? Maybe so, I know nothing about Aus immigration. They don't for the US visa, I've been through that one. It's almost 100% financial requirements. Anyway it wasn't just that it was a lot of things. And since I left, like most others do (eventually), it was a waste of time and money. The point is that it's not a one-size-fits-all, whatever suits your situation.

 

 

[MikeB]

On 12/1/2017 at 7:08 AM, Clermont said:

When you apply for the 13 A all that information goes to BI and they cross check your answers with the US embassy, every country has a dossier in their computers of their citizens.

I don't believe they're cross-checking with the US embassy and I never said that all the US was interested in is financial security. They required the NBI clearance and some other stuff, really can't remember. I consider the line of questioning about going out at night to be highly inappropriate. Let's leave it at that.

 

.   

[Tukaram (Tim)]

13 hours ago, MikeB said:

There is no perfect solution, you have to pick what works best for you. For me it would be as I said because I want nothing to do with BI. I would not go through the 13a again. Besides all the forms and fees I find this probationary/permanent thing absurd. When we were interviewed for the 2nd time by the same woman lawyer she asked my wife in the lingo if I went out drinking and running around at night. Of course I didn't know that and didn't find out until much later. Would that disqualify me from their precious permanent resident visa when 99% of the male population does exactly that? Or would that qualify me because it would prove that I truly belong?

They just want to see if you will fit in here.  My standard answer to the "do you have family?" is "I am married ...but don't have a girlfriend yet".  It is the most Filipino thing I could think of to say. All the locals get a good laugh out of it. They know what they are like ha ha.

To most of us, those questions are tactless, and no ones business, and of course they would never ask such things in an US interview. But... this ain't the US! They know nothing of tact here. 

[mogo51]

11 hours ago, MikeB said:

If it's an honest open question why wasn't it asked in the common language of English, which we all understood and how we started off, instead of Cebuano slang between the kabayans? 

If you bring your spouse to Aus do they ask you if she screws around and drinks before deciding to grant him/her residency? Maybe so, I know nothing about Aus immigration. They don't for the US visa, I've been through that one. It's almost 100% financial requirements. Anyway it wasn't just that it was a lot of things. And since I left, like most others do (eventually), it was a waste of time and money. The point is that it's not a one-size-fits-all, whatever suits your situation.

 

 

I agree with you Mike, I think the questions were totally inappropriate.  

[bigpearl]

20 hours ago, Jack Peterson said:

AS is But and I always say there is a but, If you sell part of the lease it is less than maybe is needed to satisfy the Deposit and also reduces the hold you have on the thing/Land it was paid for, Sorry but i would need more than this to satisfy myself it is Up Front, we know cash is king here so? 

Yep there is always a "but" factor especially in PH. Long term leases from an unrelated person are recognised by the PRA no different to buying a brand new condo with a projected 50 year life span, selling part of a lease is an interesting thought especially if leasing larger blocks but unrealistic from my thoughts no different to selling part of a condominium, the whole lease sellable as well as buildings, chattels and improvements, turn it over, move on no different to a condo I suppose. Our hands are tied as we foreigners will never own land unless it predates the 1935 constitution changes from what my limited research leads me to believe.

With limited ways to secure tenure in PH for foreigners and of course other asian countries and then some, one must learn and play by the rules that suit individual situations. As said we have the lease in place but not the SRRV which should come seamlessly but theres the but as you say. Stay tuned. Thanks for your thoughts Jack, refreshing.

Cheers, Steve.

[bigpearl]

On 30/11/2017 at 12:19 PM, Happyhorn52 said:

The other big benefit of the SRRV Visa is that you shipment of household goods is tax exempt up to a $7,000 limit. For me this benefit offset the cost of keeping $10,000 in a Philippines bank earning 1% interest. 

There in lies another story after research with limited and no forthcoming answers from PRA or BIR. Plenty of info within this and other sites on this particular subject if you take the time to look. 

Cheers, Steve.