SRRV or 13A visa?

[RBM]

5 hours ago, Kingpin said:

Who gave you the false info that you didn't need one?

 

That is not false info, as previously stated I was not asked to produce a police clearance, just an NBI report.

[Snowy79]

15 hours ago, Dave Hounddriver said:

I dunno but we'll ask our independent fact checkers.  Guys?  What do you think?  

I received my SRRV in March of this year and at the time you never required Police Clearance from your home country if you had not returned home in 5yrs.  I had to produce the stamps in my passport and a letter from my LGU stating I had resided there over 5yrs. After that all I required was an NBI clearance.

In the 5yrs I'd been to Cambodia and Malaysia so they wanted photocopies of the passport stamps showing me leaving the Philippines and returning direct without going to Scotland.

[Kingpin]

13 hours ago, RBM said:

That is not false info

It was for him,  and it was later corrected when he actually applied.

[Colsie]

On 10/31/2022 at 12:55 PM, OnMyWay said:

I think the SRRV also has some advantages over the 13A.  Perhaps someone can comment.  Does the SRRV holder have to pay travel tax when leaving the country?  I'm a 13a holder and it will cost my family 6440 pesos (1610 X 3 adults and 810 X 2 children) to leave the country.

Same as tourist you don't have to pay travel tax if you haven't been in the country 12 months. 

Edited December 10, 2022 by Colsie

[Colsie]

On 10/31/2022 at 6:00 PM, Freebie said:

 

From SRRV website.

2. Exemption from:

• Travel Tax, if retiree has not stayed in the Philippines for more than 1 year from last date of entry

Same travel tax exemption for tourist living here and no exit clearance certificate required if entered the country within the last 6 months 

Edited December 10, 2022 by Colsie

[Tommy T.]

I really have nothing but good to say for the SRRV - for me. Yeah... it cost some bucks... But the ease of in and out travel, the ability to obtain a regular, long term driver's license, the ability to obtain a work permit, should I desire? They all add up to me. Plus... I have not really checked recently, but last time I looked I was fairly sure that the annual cost of the SRRV (not including the initial deposit or initial application fee) seemed to be close to the same as for the ongoing tourist visa renewal fee. Did i make a mistake here? I was remembering something like about US$360 +/- annually adding up for tourist or SRRV fees... Is that accurate these days?

Soon, since we built a home here, we should be able to apply the US$10k deposit toward the home and then retrieve the cash deposit from the bank. That is yet to be determined because I still loathe to go into the city because of lingering paranoia from the virus. However, I was assured from the local PRA manager that he could do it and, in addition, make it possible that the spouse/girl friend could not access it unless I specifically authorized it. Also, from my understanding, there should be some interest income from that deposit since I haven't touched it in over four years. I don't really care, since interest rates have been so low anyway on deposits... So... we shall see within a few months.

[Kingpin]

On 12/12/2022 at 3:30 PM, Tommy T. said:

there should be some interest income from that deposit since I haven't touched it in over four years. I don't really care, since interest rates have been so low anyway on deposits...

Not anymore, but about this

On 12/12/2022 at 3:30 PM, Tommy T. said:

since we built a home here, we should be able to apply the US$10k deposit toward the home and then retrieve the cash deposit from the bank

You never retrieve cash deposits, you can only convert to investments, meaning condos you purchase, and you would have to include the PRA on the condo title, because if you sell the condo the funds revert to the PRA.  It doesn't apply to homes your wife purchases with your money.

[Freebie]

1 hour ago, Kingpin said:

You never retrieve cash deposits, you can only convert to investments, meaning condos you purchase, and you would have to include the PRA on the condo title, because if you sell the condo the funds revert to the PRA.  It doesn't apply to homes your wife purchases with your money.

And from a mate who went the cheap way of including the PRA deposit on his title instead of just paying cash.. it took him  a few days to get the PRA attachrd to his title. That was the easy part. When he came to sell the property and get the PRA part unattached so the title could then be sold as " clean " that was several months, reams of paper, photocopies of many many documents relating to the property he was selling ...he basically said never again.

Ask your PRA person exactly how thep rocess is to unattach the PRA note on the original  title.

[Colsie]

On 12/12/2022 at 3:30 PM, Tommy T. said:

But the ease of in and out travel, the ability to obtain a regular, long term driver's license, the ability to obtain a work permit, should I desire?

They all add up to me. Plus... I have not really checked recently, but last time I looked I was fairly sure that the annual cost of the SRRV (not including the initial deposit or initial application  Did i make a mistake here? I was remembering something like about US$360 +/- annually adding up for tourist or SRRV fees... Is that accurate these days?

Soon, since we built a home here, we should be able to apply the US$10k deposit toward the home and then retrieve the cash deposit from the bank. 

The driving license I got as tourist expires in June this year and I'm not planning on renewing it, I don't want to drive and now I have a perfect excuse 😂

In and out the country regularly is better if you're a tourist as you don't need exit clearance under 6 months here. A rent a ticket is $10

So looks as though you did the SRRV with $10k deposit, but with the additional pension income. Yes, the annual fee is still $360 unless you're ex forces... 

If you are ex service personnel I think your deposit can be as low as $1.5k and annual fee something like $35. I would definitely grab an SRRV if I was ex services. 

But for me, deposit was $20k and the annual interest earned in the first year was about the same as the yearly fee of $360. The following year the bank interest rates stayed the same but the PRA changed the rules so they took nearly all the interest. 

I cancelled my membership and invested the $20k in a bank giving 5% interest on 12 month time deposit with 6% withholding tax. This yielded about $940/yr... Over the next 10yrs the bank TD rates have stayed around 3.5-4.5%. So for me I'm happy with my returns and also accessing my funds is easier. 

Good for you, not including the initial equivalent 75,000 pesos SRRV enrolment fee in your comparison with the tourist visa costs 😂

But each to their own... You spend your money and make your choices.. 

Edited December 13, 2022 by Colsie

[Kingpin]

11 hours ago, Colsie said:

I cancelled my membership and invested the $20k in a bank

Philippines bank? If it goes bust you'd lose more than half that.