Reducing The Deposit For A Retirement Visa

[JJReyes]

There is a group that plans to present a paper during the Philippine Retirement & Healthcare Summit 22-23 April, 2013. The paper will request the Philippine Retirement Authority to reduce the bank deposit amount from $10,000 to $5,000 for the Classic and Human Touch visas. The Summit is sponsored by the Department of Tourism, Philippine Retirement Authority and the American, European, Japanese and Korean Chambers of Commerce.

 

My position in the on-line discussion is to request the reduction to $1,500, which is the amount for SRRV Courtesy. The purpose for the deposit is to pay for end of life expenses. You don't need $10,000. You don't need $5,000. If you are still alive, the bank can return the deposit if you move out of the country.

 

To bolster my position, could forum members help me gather information. I need to know the cost for a cemetary plot and burial expenses in your place of residence. Also, what is the cost for cremation? There are courier companies like FedEx and UPS that will ship the ashes to your country of origin, if that is your desire.

 

I need numbers, but my gut feeling is the costs are probably less than P60,000 ($1,500).

Edited February 22, 2013 by JJReyes

[Bruce]

I have found the costs on Samar vary by your ability to pay. They do not like to turn away money. The average price is swayed by the casket costs. In house wake ( gamblinga allowed!) or funeral home viewing. Usually less than $1,000.

 

For squatters, home made casket and burial plot costs only. No funeral home needed. Do it yourself from start to finish. Costs of wood, diggers and fee to cemetary manager.  

[Shol]

See if you can get rid of the 1400 application also while yer at it :)

 

There is a group that plans to present a paper during the Philippine Retirement & Healthcare Summit 22-23 April, 2013. The paper will request the Philippine Retirement Authority to reduce the bank deposit amount from $10,000 to $5,000 for the Classic and Human Touch visas. The Summit is sponsored by the Department of Tourism, Philippine Retirement Authority and the American, European, Japanese and Korean Chambers of Commerce.

 

My position in the on-line discussion is to request the reduction to $1,500, which is the amount for SRRV Courtesy. The purpose for the deposit is to pay for end of life expenses. You don't need $10,000. You don't need $5,000. If you are still alive, the bank can return the deposit if you move out of the country.

 

To bolster my position, could forum members help me gather information. I need to know the cost for a cemetary plot and burial expenses in your place of residence. Also, what is the cost for cremation? There are courier companies like FedEx and UPS that will ship the ashes to your country of origin, if that is your desire.

 

I need numbers, but my gut feeling is the costs are probably less than P60,000 ($1,500).

[dsphilip]

Has there been any progress lately on reducing the cost for a Classic or Human Touch SRRV to $5,000. Would be warly welcomed by many.

[JJReyes]

Has there been any progress lately on reducing the cost for a Classic or Human Touch SRRV to $5,000. Would be warly welcomed by many.

 

The Philippine Retirement Authority and the Department of Tourism have agreed to expand the Courtesy visas to retired US military and persons with advance degrees. The difficulty is getting the Department of Foreign Affairs and Bureau of Immigration to concur. The issue is loss of revenues. The $1400 PRA processing fee remains.

[Dave Hounddriver]

Whatever the deposit for the retirement visa, its the $500 a year fee that puts me off.  Thats getting very close to what I pay each year for my tourist visas so I don't see it being worth the trouble.

[robert k]

I had not heard of a $500 per year fee. :no:

[Tukaram (Tim)]

About 8 months ago I was filling out the application to get one, and the $1,400 was really putting me off... but I ignored it.  When I got to the part where I had to tell them where my $20,000 was, I just could not do it!  To pay that much and still have to pay every year?

 

There are some good benefits but it is just not worth that price to me!   :tiphat:

[MikeB]

I'm pretty sure the annual fee is $360. Originally it was $10, quite an increase. I would like to confirm but the PRA website is down. The $1400 application put me permanently off it.

[Dave Hounddriver]

I had not heard of a $500 per year fee.

 

Sorry.  I had read it was going up to $500 a year but it has not yet gone up according to what I can find.  Seems the fee is still:

 

Annual Fee:

- US$ 360.00 

 

http://www.pra.gov.ph/dl_form/file_name/368/SRRV_Application.pdf