About SSRV visa

[Snowy79]

37 minutes ago, Tommy T. said:

Actually, there is an annual renewal fee which - as of this year - was P18,000 if I remember correctly.

If you are on the expanded courtesy visa it's only $10 per year, great value. 

[Freebie]

12 hours ago, GeoffH said:

there might be others but that's all I can think of now.

and you dont need to be married to stay here as long as you choose... and you dont need to be worried a wife can kick you out, as has happened to some on the 13G :)

[Colsie]

12 hours ago, GeoffH said:

 

The SRRV does have some advantages over a tourist visa; 

1) you don't have to leave the country after 3 years (cost of flights out and back)

2) you don't have to do regular extgensions (which cost pesos)

3) you can legally convert your foreign drivers license and drive here past 3 months (foreign tourists are only allowed to drive for 3 months... yes many get away with it but that doesn't make it legal)

4) you can open a local bank account (yes some people on tourist visas have opened them but it's getting harder and harder to do so)

5) you can join philhealth

 

there might be others but that's all I can think of now.

Apologies, too anyone who has an SRRV, it may be the ideal visa for some people in some circumstances, I shouldn't be so derogative about it.

OK off topic a little, but;

I guess, my views are tainted by my own experiences of having one for a couple of years. In which time they took more and more of the yearly interest of the 20k time deposit required, such that, the interest was no longer enough to pay the yearly renewal fee ( about 360 USD) 

Also, I should mention the initial process fee (1,400 USD) and other additional costs. 

Addressing the above list 

1. Leaving the country every 3yrs isn't going to be an issue post pandemic for most. But true enough its a benefit of the SSRV. 

2. The 6 month extentions means that this advantage is not really of much benefit. 

3. I got my driving licence in 2006 as a tourist and been renewing after 5 years like everyone else, so no benefit. If you have a ACR card (tourist) then getting a driving license shouldn't be an issue. 

4. Same for bank accounts, I have several and all I needed was my ACR card and passport and proof of where the funds came from. 

5. Philhealth for staying overnight in public hospitals... OK 

6. The biggest advantage of the SSRV for me was not requiring an onward ticket. 

Regards getting out of the scheme, no issues, simply went to the offices in Makati for an hour, easy. As for my 20k, transfered it to another bank that was giving 5% interest and had a withholding tax of 6% (about 1000usd/yr - 60usd tax). 

Would I get an SSRV again, yes if it was the best option available for me. But for now it isn't, for other people it may be...

[Happyexpat]

14 hours ago, Dave Hounddriver said:

The Quota Visa may suit you better then.  Hard to get but may be worth it in the very long term, especially if you have no plans to marry a Filipina. 

https://kittelsoncarpo.com/philippine-visas/quota/

 

Quote

50 foreign nationals every year.

I am sure very difficult to get. Better Don’t bother to try i think. 

[Dave Hounddriver]

17 minutes ago, Happyexpat said:

I am sure very difficult to get. Better Don’t bother to try i think. 

Up to you.  That figure means 50 from each country.  If you are from the USA I would not bother to try, but from Turkey?  I doubt they get a dozen applicants a year.

[Snowy79]

5 hours ago, Happyexpat said:

I am sure very difficult to get. Better Don’t bother to try i think. 

It is now 100 per year but very difficult to get and impossible at the web price.  If you're prepared to fork out 250k plus you have a good chance.

I tried for the Quota and was basically told to forget it by immigration as I was going down the legal route.  They wouldn't even answer some of my questions when I told them I will fill the forms in myself. 

[Dave Hounddriver]

4 hours ago, Snowy79 said:

If you're prepared to fork out 250k plus you have a good chance.

So basically 10 years of tourist renewal fees for a forever visa.  When you are 40 that is not a bad deal.  But again, it goes by country and I do know some people that did it themselves, just not people from UK or USA or similar countries with loads of expats applying.

[Jollygoodfellow]

15 hours ago, Colsie said:

Same for bank accounts, I have several and all I needed was my ACR card and passport and proof of where the funds came from. 

I know Im going off topic and this same subject is in another recent topic but since you have been here on a SRRV I am wondering if you had no problems opening a bank account then with an ARC which I doubt is a tourist ARC and probably the yellow permanent type so what I mean did you open accounts only when you were a SRRV holder or have you easily opened accounts since you have a tourist visa and tourist (white) ARC?

Hope that made some sort of sense 

[Gator]

18 hours ago, Tommy T. said:

I forgot to mention that an SRRV holder has unlimited departure and arrival privileges.. in other words, the holder can travel out of and into the country without restrictions.. 

True ……. unless the IATF decides to suspend it again like they did for a good portion of time during the pandemic 

[Colsie]

3 hours ago, Jollygoodfellow said:

I know Im going off topic and this same subject is in another recent topic but since you have been here on a SRRV I am wondering if you had no problems opening a bank account then with an ARC which I doubt is a tourist ARC and probably the yellow permanent type so what I mean did you open accounts only when you were a SRRV holder or have you easily opened accounts since you have a tourist visa and tourist (white) ARC?

Hope that made some sort of sense 

ACR... 

The first account I opened was BPI as a tourist back in 2007, without even any ACR. 

In 2011, opened a China bank account, again as a tourist without ACR card, but to transfer the 20k for the SSRV, but China Bank pulled out of the SSRV scheme because it wasn't financially viable, but they transfered the funds into another bank that was in the scheme (so I didn't need to bring the funds from overseas again) , so I opened another account. 

Anyway, more recently (2019) I have opened a new accounts as a tourist at Security Bank, Eastwest Bank, Landbank and Metrobank...the requirement was only that I showed my passport, ACR card and told them were the money came from...which is kinda pointless really... 

I've never opened a bank account while on a SSRV, only as a tourist (7)....no 8...opened an account with Malayan Bank in Pampanga as a tourist, I just remembered that....that was a 5yr TD @5%, because it was 5yrs I seem to recall in the Philippines there's no withholding tax on the interest...tax is for the poor, no, the rich make all the rules 

 

Edited June 8, 2022 by Colsie