SRRV/SIRV bank, criminal background questions

[Saint Pat]

Thanks Happy. 

Appreciate the information.

Have most of what's required including an SRRV Registration form.

 

 

[earthdome]

The first step in getting an SRRV should be getting in contact with a representative of the PRA (Phillippine Retirement Authority). A PRA staff member will help walk you through the process.

[Huggybearman]

I am also thinking of applying for an SRRV as I am not married my filipina girlfriend of 10 years. It seems to have several advantages over the existing TV extension arrangement.

We are though in the process of buying a plot of land with the intention of building a house. Does anyone here know if it is possible to use the required SRRV deposit amount to partially fund the purchase of land or subsequent construction costs of the building?  A possible stumbling block may of course be the fact that the land would not be in my name, however, as we are not married, then a legal lease of the land in my name, between my GF and I, would be possible. Has that route been explored by any forumites? 

Ken

Edited March 30, 2018 by Huggybearman

[Jollygoodfellow]

27 minutes ago, Huggybearman said:

then a legal lease of the land in my name, between my GF

I could be wrong but from past posts I thought that was not allowed or perhaps it was between married couples? 

[Jack Peterson]

Just now, Jollygoodfellow said:

I could be wrong but from past posts I thought that was not allowed or perhaps it was between married couples? 

The lease is OK between the G/F and the OP the problem Comes if they get married as this will change everything

[Huggybearman]

3 hours ago, Jack Peterson said:

The lease is OK between the G/F and the OP the problem Comes if they get married as this will change everything

Absolutely right, Jack. Husband and wife are treated as a single entity so one cannot lease to the other. 

At the risk of going off topic, an interesting spin-off for married couples who own land in the wifes name is if the filipina wife dies before the ex-pat husband. My research has thrown up two opposing effects.

The first is, as a foreigner cannot own land then, following her death the foreign husband has a period of time in which to dispose of the property.

However, it would appear that if you inherit the property then it is possible to legally own the land. So if you are named as the beneficiary of your wifes estate then that would be allowed.

Quote: 'Exceptions to the restriction on foreigners acquisition of land in the Philippines Include: Acquisition through hereditary succession if the foreigner is a legal or natural heir'

It seems one regulation allows it, the other prevents it!

Ken

 

[Jollygoodfellow]

1 hour ago, Huggybearman said:

Absolutely right, Jack. Husband and wife are treated as a single entity so one cannot lease to the other. 

At the risk of going off topic, an interesting spin-off for married couples who own land in the wifes name is if the filipina wife dies before the ex-pat husband. My research has thrown up two opposing effects.

The first is, as a foreigner cannot own land then, following her death the foreign husband has a period of time in which to dispose of the property.

However, it would appear that if you inherit the property then it is possible to legally own the land. So if you are named as the beneficiary of your wifes estate then that would be allowed.

Quote: 'Exceptions to the restriction on foreigners acquisition of land in the Philippines Include: Acquisition through hereditary succession if the foreigner is a legal or natural heir'

It seems one regulation allows it, the other prevents it!

Ken

 

I believe our forum CEO posted an in depth topic covering this so if we can find it Im sure it will be an interesting read. 

[Huggybearman]

1 hour ago, Jollygoodfellow said:

I believe our forum CEO posted an in depth topic covering this so if we can find it Im sure it will be an interesting read. 

Thanks Tom. That would indeed be a very interesting read if you are able to locate it.

Ken

[Jollygoodfellow]

2 hours ago, Huggybearman said:

Thanks Tom. That would indeed be a very interesting read if you are able to locate it.

Ken

I think its this topic I was thinking of.  Sorry if its not it.  

 

[Gary D]

My take is that you could inherite as long as the wife dies intestate, and assuming no other joint hiers. You can't be willed the land.