# SRRV worth it or not



## Scott E (Jun 1, 2015)

Does anybody have experience with the SRRV Visa ,, Not sure if I want to bring a Large amount of Money to post in a PH bank ?? However it does seems like a good alternative to a 13a marriage Visa.


----------



## Gorn (Aug 30, 2019)

Scott E said:


> it does seems like a good alternative to a 13a marriage Visa.


It's the _only _alternative. There's a regular 13 but that's not guaranteed. 

13a costs a few dollars, SRRV costs from $10,000 to $50,000, seems like an easy decision to me.


----------



## Scott E (Jun 1, 2015)

Gorn said:


> It's the _only _alternative. There's a regular 13 but that's not guaranteed.
> 
> 13a costs a few dollars, SRRV costs from $10,000 to $50,000, seems like an easy decision to me.


Never read about a "regular"13, and a 13A can be expensive also, because one needs to be "Married" lol. 

I am just not sure of the "security of the bank" and what happens to this money if I do not use it ?? I read that in the past there was an incident with this SRRV, and the money of many persons was mysteriously gone. Is the money available in the event of some type of "personal" emergency, or "health" crisis ??


----------



## M.C.A. (Feb 24, 2013)

Scott welcome to the forum, it sure is a challenge to live here single for sure and there's more threads on the SRRV issue and I did find one: https://www.expatforum.com/expats/philippines-expat-forum/1340842-my-srrv-experience.html

What about using your deposit as a Condominium purchase? As long as it's only in your name you should be fine.


----------



## Gorn (Aug 30, 2019)

Scott E said:


> I am just not sure of the "security of the bank" and what happens to this money if I do not use it ?? I read that in the past there was an incident with this SRRV, and the money of many persons was mysteriously gone. Is the money available in the event of some type of "personal" emergency, or "health" crisis ??


The money is not yours anymore, so there's no need to worry about it. It's an investment in the Philippines. All you can do is transfer it to another investment (condo, extended lease), and even doing that has many regulations.


----------



## Scott E (Jun 1, 2015)

M.C.A. said:


> Scott welcome to the forum, it sure is a challenge to live here single for sure and there's more threads on the SRRV issue and I did find one: https://www.expatforum.com/expats/philippines-expat-forum/1340842-my-srrv-experience.html
> 
> What about using your deposit as a Condominium purchase? As long as it's only in your name you should be fine.


Maybe ,, depends where my son will go to school ,, not a fan of Condos ,, and worse yet taking a lease is just a loss for my son, less money too give his inheritance at that time !!
I do live in my House ,, better to own something ,, Yes a Condo is sellable at least, able to recover the money !!


----------



## Scott E (Jun 1, 2015)

Gorn said:


> The money is not yours anymore, so there's no need to worry about it. It's an investment in the Philippines. All you can do is transfer it to another investment (condo, extended lease), and even doing that has many regulations.


That is the Biggy ,, "The money is "NOT MINE" any more !! :confused2::confused2::confused2:


----------



## Gary D (Oct 28, 2013)

Scott E said:


> That is the Biggy ,, "The money is "NOT MINE" any more !! :confused2::confused2::confused2:


Well you still get it back if you withdraw from the system.


----------



## Gorn (Aug 30, 2019)

Scott E said:


> a Condo is sellable at least, able to recover the money


Not if you mean the SRRV money; if you use that deposit to buy a condo, and then sell the condo, the money goes back to the Philippines (National Bank).


----------



## Scott E (Jun 1, 2015)

Gorn said:


> Not if you mean the SRRV money; if you use that deposit to buy a condo, and then sell the condo, the money goes back to the Philippines (National Bank).


I think he means if I stop the SRRV and get married with a 13a ,, or leave the country ,, I any event, if say "I die" who gets the money ,, can my son inherit this pile of cash !!


----------



## M.C.A. (Feb 24, 2013)

*SRRV Return of Money?*



Scott E said:


> I think he means if I stop the SRRV and get married with a 13a ,, or leave the country ,, I any event, if say "I die" who gets the money ,, can my son inherit this pile of cash !!


I found this link for canellation of the SRRV https://pra.gov.ph/assets/citizen-c...from_SRRV_Program_and_Downgrading_of_Visa.pdf

That's a very good question and I did a little research and didn't come up with much and it appears the PRA/SRRV doesn't' have a frequently asked questions bank so I'd contact them directly and ask and please share the results with us. 

https://pra.gov.ph/contact/

I would draft a Last Will and Testament and give a copy of it to the PRA.


----------



## bigpearl (Jan 24, 2016)

Yep agree Mark, Gorn also has raised a few good points. Your funds are retrievable but can take 6 to 12 months based on a simple deposit then removal from the system, from what I have read over my many years researching and on expat sites, PRA sites as well as questions directly to them? The answers are vague. Only an opinion but if the deposit to the PRA were converted to a property or lease, then one passes away? I am sure the legalities will take longer if one invested in a condo or lease but at the end of the day the funds will eventually be returned to the estate and as an offside I certainly won't be around to deal with the tripe when it happens but have secured the tripe in my will.

SRRV or SIRV, non quota, likewise 13a etc are not for every one and the individual simply needs to do their research based on their particular situation. While expat sites such as this offer great info, one at the end of the day needs to do their own research with government bodies.

Cheers, Steve.


----------



## bigpearl (Jan 24, 2016)

lOl, I read the links you supplied Mark and think I will simply do the 3 year visa run..... No mention within the links of a PRA member passing on without a last will and testament nor even with a will, 2 years and thousands of pesos to navigate a hidden system? OMO.
So what is aimed at the likes of myself and others has not been addressed accordingly.

Cheers, Steve.


----------



## greenstreak1946 (May 28, 2017)

*Is SRRV visa worth the trouble*

Is the SRRV visa really worth having here? With the $10,000 deposit plus the $1400 application fee plus the $360 a year fee adds up to $11,760 total. Divide up each year what it cost to renew the tourist visa and see if it is worth getting the SRRV. That is around 8 to 10 years of tourist fees.

If not old enough then it is a $20,000 deposit!!!!

Hmmmmm! just my thoughts.

art


----------



## Manitoba (Jun 25, 2014)

Incorrect information on the deposit. It is 50k USD if between 35 and 50, 20K if over 50 and no pension and 10k if over 50 and at least 1,000 USD pension direct deposit to a Philippine bank the deposit is 10k USD. A dependent (spouse or child under 18 years old) can also come on for a small additional fee, the pension requirement is slightly higher.


There is also a class of SRRV for retired military ( just about any nation), and some other special categories (retired diplomat etc) that the deposit is 1500 USD and the annual free is $10.

You can use the deposit as part payment on a condo or long term lease of a home. The deposit is not lost, you get 1% interest on it and that is taxed at 30% so you net 0.7% after tax interest.

If it is worth it or not really depends on your circumstances. The annual fee works out to about the same as the SRRV fees. (Less if there are two people on the SRRV.)

However it only took me a total of 5 hours to get my SRRV and the first year residency, then one hour to renew it for 3 years. ( That is 6 hours for 4 years staying here) SRRV holders are exempt from ACR cards, annual reports and a few other perks. You can also legally get a local driver license which you cannot do on a tourist visa. ( I know some LTO's are reported as issuing them on tourist visa but the law is visa good for at least one year and the longest you can get a tourist visa extension is 6 months.)

How many horror stories are there here about people taking a couple days every 2 to 6 months to renew their tourist visa?

The one thing that is not mentioned on tourist visa is that they are single entry visas. If you renew for 2 months and want to take a shopping holiday to Singapore or need to go home for a family emergency then the time on your tourist visa is lost and you start the whole process over again with the visa on arrival.

For me the deciding factor is that as a Philippine resident I had no issues becoming a non-resident for tax purposes of Canada. Since I worked about 2 years on some very well paid USAID and ADB projects I saved many times my deposit, which I still get to keep. 

Look at the totality of your circumstances, financial, where you want to live and access to a BI office, if you want to buy condo or get long term lease, the tax circumstances in your home country etc before making a decision.


And also look at the true facts on how much it costs and the rules of getting the SRRV.


----------



## Manitoba (Jun 25, 2014)

Gorn said:


> The money is not yours anymore, so there's no need to worry about it. It's an investment in the Philippines. All you can do is transfer it to another investment (condo, extended lease), and even doing that has many regulations.


Not true.

The money is held in a time deposit in a Philippine bank and you get interest on it. You can get it back when you cancel your SRRV but knowing the Philippines, that may take a long time. It will be covered in part by the deposit insurance but that is only 500,000 p per bank or about $US10,000.

You can transfer to the investment but that has been reported as being very difficult to do for many people.


----------



## bigpearl (Jan 24, 2016)

Horses for courses I suppose art. While I have sprouted the benefits over the years now have doubts, in two minds, one of the good attributes I saw was not having to rock up to immi every 59 days, San Fernando City La Union cannot process the 2 x 6 month visas (within the 3 years before you have to leave) and a thorn in my side is the express lane fees, I'm not in a hurry, I'll pick it up next week, sorry sir you have to pay,,,,, unless some one else can advise differently.

As most readers know or if they care to look back I went through the "converting your deposit with the PRA into a tangible asset" scenario, hoops and hurdles it simply became too difficult. For us the decisions/options are as follows:
Pay the fees as art suggested and kiss 10K, (earning minuscule interest) goodbye until you either die or pull out of the system. My dilemma is that I have no need to draw a pension from my superannuation for some years, nary a government pension that we were all promised, my bad for working hard. That throws me into the 20K bracket that can be invested far wiser than the return from PRA (10K extra) though it would alleviate the 6 plus visits a years but hey I am retired,,,,, almost and can fit that into my schedule, done it many times and is really just an inconvenience.

Draw the minimum pension and avail the 10K deposit, $1,400 application fee and $360 per year there after, if I were not cashed up I would go this way and live comfortably on an affordable pension. 
We have done our sums and will (I will) keep visiting the local BI office until the time I decide to avail my super and then reevaluate big time.
Only an offering from a humble expat.

Cheers, Steve.


----------



## bigpearl (Jan 24, 2016)

Well said Rick. Obviously all need to research and do it very very well to secure the appropriate visa for their particular circumstance in the Philippines.

Cheers, Steve.


----------



## Gorn (Aug 30, 2019)

Manitoba said:


> You can get it back when you cancel your SRRV


That's the part that requires a source.


----------



## M.C.A. (Feb 24, 2013)

*Downgrade of the Visa and Withdrawl Clearance*



Gorn said:


> That's the part that requires a source.


The form cancelling the SRRV Visa listed above seem to make it clear that they downgrade your SRRV to a Tourist Visa if still living in the Philippines and if not the costs are a little bit more and that Withdrawal Clearance.


----------



## greenstreak1946 (May 28, 2017)

Well, I am over 50 with a pension so the $10,000 plus $1400 application fee and $360 a year was correct that I stated in my post. I know some areas don't process long applications. Where I was at they had full service there. I just can't see putting $10,000 in an account and it will be there as long as I am in the system. I am not interested in buying a condo there. 

As long as I am in an area that processes all the visas then I will just do that since they have extended the leaving time to 3 years and then come back and start over again.

art


----------



## Gorn (Aug 30, 2019)

greenstreak1946 said:


> That is around 8 to 10 years of tourist fees.


8 to 10 years in the RP is not considered a tourist, so you'll eventually need a resident visa anyway.


----------



## bigpearl (Jan 24, 2016)

Gorn said:


> 8 to 10 years in the RP is not considered a tourist, so you'll eventually need a resident visa anyway.


Yep, while I agree with you and as said will eventually go down the SRRV path myself, in the interim will avail the tourist visa as it's available, legal and at this stage suits our needs. I am sure plenty of other expats are and have been doing the 3 year visa run for more than 10 years and that's their choice and perfectly legal.
Where are you up to now with your research Gorn? I know it can be a mine field but eventually we sort out which way we go to suit our own needs.

Cheers, Steve.


----------



## Gorn (Aug 30, 2019)

bigpearl said:


> I am sure plenty of other expats are and have been doing the 3 year visa run for more than 10 years and that's their choice and perfectly legal.


What's legal depends on whichever immigration agent you get and what kind of day they're having, but they are definitely cracking down on the "permanent tourists" you describe. If they are working, they are breaking the law, and if they are not working, they are considered retired. You can read about it here: https://www.silent-gardens.com/blog/philippines-9a-tourist-visa-stricter-enforcement-of-regulations/ and here - https://www.silent-gardens.com/blog/philippines-tourist-visa-regulations-are-getting-tighter/



bigpearl said:


> Where are you up to now with your research Gorn?


Given the choice, 13a over SRRV. Right now I'm more interested in the path to citizenship, I _believe _you need to be a permanent resident for 10 years (or 5 if married) first, and not just a tourist, but information is limited, any help Steve?


----------



## bigpearl (Jan 24, 2016)

Gorn said:


> What's legal depends on whichever immigration agent you get and what kind of day they're having, but they are definitely cracking down on the "permanent tourists" you describe. If they are working, they are breaking the law, and if they are not working, they are considered retired. You can read about it here: https://www.silent-gardens.com/blog/philippines-9a-tourist-visa-stricter-enforcement-of-regulations/ and here - https://www.silent-gardens.com/blog/philippines-tourist-visa-regulations-are-getting-tighter/
> 
> 
> 
> Given the choice, 13a over SRRV. Right now I'm more interested in the path to citizenship, I _believe _you need to be a permanent resident for 10 years (or 5 if married) first, and not just a tourist, but information is limited, any help Steve?


Thanks for the reply Gorn, yes the links you supply are relevant and appreciated the read. While none here have or dare mention working on a tourist visa as it's illegal I am sure it happens and at their own risk, no different to many countries.
I cannot avail the 13a nor Balakbayan privilege as we are a gay couple and unfortunately not yet recognised as such within the Philippines but as mentioned in other dialogue has other perks. 
OMO. Citizenship for me in PH. I have to reside for 10 years, speak Tagalog or our local dialect "Ilicano" fluently prior to going through all the hoops, as well as renouncing my Australian citizenship. Not going to happen.

As for ""_believe _you need to be a permanent resident for 10 years (or 5 if married) first, and not just a tourist, but information is limited, any help Steve?""
Not that this will be my path though perhaps yours I would ask why?
You raise a good question. Do you need to be a permanent resident? Either SRRV, SIRV, Diplomat or 13a before you apply or 10 years on a tourist visa to become a Filipino national? No Idea Gorn as it was something I discounted 7 or 8 years ago. I researched as you and others have on expat and government sites for years and chose the path that suits our needs and not others.
I think we and many others are very lucky to retire to PH given their generous immigration opportunities that won't be found in other countries, I said this before and will again; PH. was never a retirement destination for me but that's where I met the love of my life 8 years ago while working there and retiring here puts us closer to family and friends. Visas are easy. Living in the Philippines certainly has its moments. Gods speed with your choices Gorn, we wish you all the best with your chosen path.

Cheers, Steve.


----------



## Gorn (Aug 30, 2019)

bigpearl said:


> Not that this will be my path though perhaps yours I would ask why?


I think the better question is why not. As a general rule, citizens have more rights than non-citizens, real estate purchasing, business, travel, etc. The only downside is income taxes.



bigpearl said:


> as well as renouncing my Australian citizenship.


Philippines and AU both allow dual-citizens, so you'd have both.


----------



## fmartin_gila (May 15, 2011)

What it all boils down to is that each of us has to do some research and then do what fits our individual circumstances. I first started doing the tourist thing, then went the Balikbayan route, then switched to the 13A status.

Fred


----------



## Manitoba (Jun 25, 2014)

Gorn said:


> That's the part that requires a source.


https://pra.gov.ph/assets/citizen-c...from_SRRV_Program_and_Downgrading_of_Visa.pdf

The detailed procedures for canceling the SRRV explicitly include release of the hold on the deposit, it then becomes a regular term deposit or the encumbrance on the title of your condo is lifted.

Why did you ever think otherwise?

Deposit is generally refundable.


----------



## Tiz (Jan 23, 2016)

The problem I see with just going the "tourist" route is that it does put you at the mercy of an immigration agent each and every time that you do the visa run.

You are then also dependent on future governments crack down of tourist visa abusers.

I've a few friends in Thailand that thought they had it made, just doing regular border runs to Malaysia, Myanmar, Loas or Cambodia, until the Thai govt cracked down and made additional rules to prevent their method of stay.


----------



## Gorn (Aug 30, 2019)

Manitoba said:


> Why did you ever think otherwise?


Because Philippines, I meant a source for it ever happening successfully.


----------



## crayfranklin (Apr 20, 2017)

*Hmmm... my SRRV was quite painless and only cost $1500 USD deposit...*

Hi all - 

I'm currently *retired* here in the PI... on an SRRV... NOT MARRIED... US citizen... ex military...

Check out the varied types of SRRV - mine only cost me a $1500 deposit in BDO... - and the money is still *mine*... If I terminate my SRRV - I get the money back with interest (admittedly, a low rate ;-) ) - and when you make the deposit, etc... You have to fill out beneficiary forms - of who gets it if you die... in my case, my kids...

The money can be used for investments here in the PI... - however, I haven't really investigated that - as I don't want those 'restrictions' on my life...

The PRA (Philippine Retirement Authority) actually pays companies to 'process' and manage your application process - so, for me - it was an exceedingly painless process and cost free (other than the deposit and some processing fees...)

Another advantage of the SRRV - is that you're entitled to enroll in PhilHealth... the PI Medical policy... this year, that cost me $300 USD (about 15,000 PHP) - and in most cases, I get 'senior' benefits... I'm a healthy, active 72 year old... I've already recovered that cost in benefits...

I have a GF - however, I've been married twice and don't want to marry again... Also, this is a Roman Catholic country - and I didn't want to put myself in a position - that if the woman got PO'd with me - I would lose my Visa...

Your retirement income can come into the PI tax free - and the SRRV card ($10 USD a year) allows me to open bank accounts, get health care and policies, etc... etc...

So, I'm extremely pleased with the SRRV... I can come and go from the PI as I please... and enjoy everything here... (except the traffic - as I live around Manila ;-) )


----------



## M.C.A. (Feb 24, 2013)

*Srrv*



crayfranklin said:


> Hi all -
> 
> I'm currently *retired* here in the PI... on an SRRV... NOT MARRIED... US citizen... ex military...
> 
> ...


Hi and welcome to the forum Cray, so it sounds like you have the SRRV offered to Veterans? And if not which SRRV did you go with? Anyway hope to hear more from you and Happy New Year!


----------



## Darby Allen (Sep 22, 2014)

"You can also legally get a local driver license which you cannot do on a tourist visa."
I moved here in Sep 2014 and obtained a driving licence, valid for three years, from San Fernando LTO in Apr 2015.
I renewed it in Jan 2018 for five years.
I gained permanent residence in Feb 2019, but was on tourist visas before that.


----------



## Gorn (Aug 30, 2019)

crayfranklin said:


> Another advantage of the SRRV - is that you're entitled to enroll in PhilHealth... the PI Medical policy.


Anyone can enroll in that, it's an insurance policy but only pays if you're admitted into a hospital and even then the coverage isn't that much. 



crayfranklin said:


> if the woman got PO'd with me - I would lose my Visa...


I'm not sure if that's possible in a country that doesn't allow divorce. But in your case SRRV is an easy choice, only $1500 deposit for ex-mil


----------



## bigpearl (Jan 24, 2016)

Hi cray, a happy new year to you and welcome to the forum, sounds like you have been around the block a few times here in PH. I and others would love to hear more from you and your experiences in the Philippines.
What area do you live in? We are San Fernando City La Union.

Cheers, Steve.


----------



## bigpearl (Jan 24, 2016)

Gorn said:


> Anyone can enroll in that, it's an insurance policy but only pays if you're admitted into a hospital and even then the coverage isn't that much.
> 
> 
> 
> I'm not sure if that's possible in a country that doesn't allow divorce. But in your case SRRV is an easy choice, only $1500 deposit for ex-mil


And?

Cheers, Steve.


----------



## bigpearl (Jan 24, 2016)

Darby Allen said:


> "You can also legally get a local driver license which you cannot do on a tourist visa."
> I moved here in Sep 2014 and obtained a driving licence, valid for three years, from San Fernando LTO in Apr 2015.
> I renewed it in Jan 2018 for five years.
> I gained permanent residence in Feb 2019, but was on tourist visas before that.


Hi Darby, a very happy new year you and your loved ones.
Can you enlighten us with the process of gaining permanent residency and how you accomplished this, very interested my end and I'm sure others would love to hear your story.

Cheers, Steve.


----------



## Gary D (Oct 28, 2013)

Darby Allen said:


> "You can also legally get a local driver license which you cannot do on a tourist visa."
> I moved here in Sep 2014 and obtained a driving licence, valid for three years, from San Fernandao LTO in Apr 2015.
> I renewed it in Jan 2018 for five years.
> I gained permanent residence in Feb 2019, but was on tourist visas before that.


The law regarding a driving license on a tourist visa only changed a year or two ago so you completely legally received your driving licence in 2014.


----------



## pagbati (Apr 9, 2014)

*SRRV - Interest on Deposit*



crayfranklin said:


> ... If I terminate my SRRV - I get the money back with interest (admittedly, a low rate ...


Good post overall Crayfranklin. By the way, if you so choose, you can also get your interest paid annually. Yes, it is a low rate and the return is very little, especially for a $1,500 deposit. But for those on a higher deposit, they may find it beneficial to have the interest paid into their chosen account, rather than leave it with the bank. IMHO, the deposit is large enough without adding interest to it each year.


----------



## crayfranklin (Apr 20, 2017)

*Thank you all...*

Hi All,

To M.C.A. - yes, I believe it's called "Extended Courtesy" - for veterans of the military of countries which were in a 'mutual defense' agreement... - being a vet of the US Army... it applied... ;-)

To Gorn... - Well, if that is the case - I wonder why the PRA has a formal agreement with PhilHealth... - yep, about the coverage, - I look at it kinda like Medicare Part A in the US... - I don't know how, but my Urologist - discounted my Artemis Fusion Prostate Biopsy by a considerable amount - due to my being a Senior... AND Phil Health... - and that was an 'outpatient procedure' ;-)

ALSO... - have you heard of Anulment?? Pricey... but it exists... and I just feel - that as a Caucasian - if I were to walk into a Filipino court... against a Filipina plaintiff... I would start with a "2 strikes, 0 balls" count to begin with ;-) So, to me - I would rather have my SRRV - independent of anything else... As long as I have my income, keep my *nose clean*, and get along... No issues to worry about...

To bigpearl - Happy New Year to you also... and Thank You... Chuckle, I've been around quite a few blocks in my years... - some were better than others... ;-) I'm in Las Piñas in BFRV... I discovered that Philippines in 1968 on R&R from Vietnam... - and after investigating Russia for several years - ended up deciding to retire here... I've been coming here for about 3 years getting things arranged and finalized my move here Aug 19... Now, I return a couple of times a year to the US to see kids etc... however, it looks like my son will visit me more frequently now - as we both SCUBA dive... and it's quite delightful here...

To pagbati - thanks for the info... - however, the interest on only $1500 US... - my thought is "is it really worth the trouble for the paperwork - and especially hassling with traffic, bureaucrats, paperwork, yada, yada, yada... ;-) Not to me...


----------



## Manitoba (Jun 25, 2014)

As a foreigner you always have the option of going home and getting a divorce there. Most places require a period of time to establish residency first.

The foreign divorce can be recognized here so that both you and your spouse can remarry.


----------



## Darby Allen (Sep 22, 2014)

bigpearl said:


> Hi Darby, a very happy new year you and your loved ones.
> Can you enlighten us with the process of gaining permanent residency and how you accomplished this, very interested my end and I'm sure others would love to hear your story.
> 
> Cheers, Steve.


G'day Steve,
In Sep 2017 I returned with my wife from Singapore and I claimed a Balikbayan visa. This is not necessary for the 13A procedure, but it meant I wasn't going back and forth renewing my tourist visa whilst dealing with the application for a 13A visa.

In Nov 2017 I approached a travel agency in Angeles; one which has accreditation from the Bureau of Immigration.
I was told that I would have to pay ₱35,000 for the visa alone, and there would be other charges applied by the BofI; and of course the travel agent. This visa would be probationary, and would be valid for one year only. I had to do all the usual things: photos, fingerprints, etc.

In Jan 2018 I had to go with my wife to Manila, where I was photographed and fingerprinted yet again, and we were interviewed together by an immigration lawyer.
Eventually I got my ACR-I showing that I was a probationary resident.

In Jan 2019 I had to go to the local Philhealth office to get a cedula, then to the barangay for clearance [not expensive, but time-consuming], and then to the BofI field office at Angeles for an annual report [cost ₱310]. A few days later I had to fork out another ₱35,000 [for the permanent visa], and we both had to go again to 
Manila to see the immigration lawyer again. In the event he wasn't there. His secretary had us sign some papers, and that was it.

I didn't get my passport and ACR-I [permanent resident] card until May, but that was because I'd renewed my passport, and the visa had to be copied from the expired passport to the new one; that cost ₱2,000!

Between the 8th of January 2018 and the 18th of January 2019 I paid ₱86,000/£1,300 for the probationary and permanent visas, transport to Manila, and local charges. I'm sure that if you know what you're about you can do it for a whole lot less than that, but it was worth it for me to get it done with relatively little fuss.

From now on I have to go to the Angeles Field office once during the first 60 days of each year for the annual report [around ₱300]. The ACR-I card must be renewed every five years, but nowadays that can be done locally.
I no longer need an exit clearance certificate if I want to leave, nor do I need an onward ticket when I return.
Beware: if you leave the country for more than a full year you'll lose your permanent resident status, and have to go through the whole process again!
Darby


----------



## M.C.A. (Feb 24, 2013)

Darby Allen said:


> I didn't get my passport and ACR-I [permanent resident] card until May, but that was because I'd renewed my passport, and the visa had to be copied from the expired passport to the new one; that cost ₱2,000!


Hi Darby so was it a requirement that you had to transfer your Visa to the new passport? I just keep both passports when I do my annual check-in.

When I received my new passport and then renewed my ACR card I asked about this... do I need to have another Visa stuck in my new passport? I got no reply from the Immigration officer or worker it was a blank stare.


----------



## pagbati (Apr 9, 2014)

*SRRV - Interest on Deposit*



crayfranklin said:


> ... To pagbati - thanks for the info... - however, the interest on only $1500 US... - my thought is "is it really worth the trouble for the paperwork - and especially hassling with traffic, bureaucrats, paperwork, yada, yada, yada... ;-) Not to me...


​I'd be very happy too if I were on a $1,500 deposit and wouldn’t worry about the interest either. However, in case other SRRV applicants/ holders on the higher deposit are considering it, there really isn’t any trouble with paperwork and certainly no problem with traffic and bureaucrats etc.

1. For SRRV applicants, when you are at the bank for the first time to sign all the relevant documents pertaining to your account/s, you simply state that you do not wish to ‘automatic roll over the interest’ in your TD account but want it paid into your nominated account. You sign the relevant document at the time and that’s all there is to it; the interest is then paid annually. No hassle.

2. For SRRV holders who did not avail of this service at the time of ‘joining’ but now wish to do so, you need to sign what the bank refer to as an ACDMF (Account/ Customer Data Maintenance Form). If you live in Manila (or wherever your deposit is), the bank would most likely ask you to sign the form the next time you are in the branch, no need to make a special trip. For those living in the provinces, you complete the form at your local bank and ask them to send it by internal mail to the main branch at Manila. Again, very little hassle. It really is all about whether or not *those on a higher deposit* are happy increasing their already very large deposit with the bank or feel that the interest is better in their hands to do with as they wish. It's a case of each to their own.


----------



## Gorn (Aug 30, 2019)

Darby Allen said:


> I no longer need an exit clearance certificate if I want to leave, nor do I need an onward ticket when I return.


What about needing an onward ticket when you board the return flight? That's where it's usually required.


----------



## Darby Allen (Sep 22, 2014)

Gorn said:


> What about needing an onward ticket when you board the return flight? That's where it's usually required.


The ACR-I card is clearly marked Permanent Resident, and the passport shows this too. If the check-in operator isn't aware of the significance of that, demand to see a supervisor or an immigration officer.


----------



## Darby Allen (Sep 22, 2014)

M.C.A. said:


> Hi Darby so was it a requirement that you had to transfer your Visa to the new passport? I just keep both passports when I do my annual check-in.
> 
> When I received my new passport and then renewed my ACR card I asked about this... do I need to have another Visa stuck in my new passport? I got no reply from the Immigration officer or worker it was a blank stare.


G'day
I really don't know if there is a requirement to have the visa transferred to a new passport, but I don't want to take the chance that some jobsworth will say "I don't care about a visa in an expired passport; you can't travel on that!"
Perhaps relying on the visa in the expired passport is okay for the annual report, but I wouldn't risk it for actual travel.
Darby


----------



## fmartin_gila (May 15, 2011)

crayfranklin said:


> A thought...
> 
> The thread was about "SRRV - worth it or not??"
> 
> ...


Carl,

VERY GOOD POST. What you have expressed is why I am constantly preaching that we are each individuals and with different circumstances where 'one size fits all' is not the answer. What works for one person may or may not work for another. We each have to do our own research and do what seems to be the best for our circumstance. We do not have to justify or defend our actions or reasons for those actions. We may want to inform others of how we went about accomplishing something, but there is no requirement to do so.

Anyway, welcome to the zoo from a comrade in arms - USMC 1957/1967-VN 65/66.

Fred


----------



## crayfranklin (Apr 20, 2017)

To Gorn: => Overpay?? Nope... To bring in my retirement tax free from the SRRV... you have to declare your monthly retirement income... - this allows the 'tax free' transfer of those funds monthly to a Philippine Bank account... - so, simply by having an SRRV - I can't claim to be indigent... - perhaps someone on another type of Visa can - I don't know...

So, the PRA has an formal agreement with Phil Health... - and I didn't need anyone (GF, wife, etc...) to enable me to enroll in Phil Health... - I just went in - filled out the paperwork - and the Phil Health cost was 15K PHP...

So, I thought about it - and since the cost for a 72 year old - on Pacific Cross was over $4K USD (treatment area limited to Philippines around $3200 USD) with 1 year exclusion on pre-existing conditions... so, since the policies went into effect in November... - anything that Pacific Cross can exclude until next November, they will... The policy with Pacific Cross is Major Medical - so, it's *admitted to the hospital* also... - For a full up Pacific Cross Medical Policy - at 72 it's over 10K USD... about 25% less probably for limiting it to Philippine treatment area... - and it also includes exclusions on pre-existing conditions...

It's insurance - and I'm a very healthy, active 72 year old... (SCUBA, etc...) - so... Phil Health for a cost of $25 USD a month... WHY WOULD I NOT GET IT??? (and since I did it by the book - no arguments later if Phil Health due to a claim says "you didn't enroll in the proper classification" ;-) )

So, I got Phil Health - completely legally for $25 USD a month... To me, I'm here because I enjoy living here... - yeah, there are some minuses... - however, if I were in the USA - where I could afford to live... (hmmm... it's crowded up under those overpasses LOL...) - 

so, I'm not here to *cheap out* and try and play the system for everything it's worth...

Kinda like - when a Filipino sees me and says "Thank You" and I reply "walang anuman"... They look again and smile and I get much better service... I try to remember - this is their country and I'm the guest here... so, I try to be a good guest... ;-)

So, if you're able to get Phil Health for 3600 PHP a year, and decide not to... more power to you - that's your decision... I chose differently...

All the Best!,
Carl...


----------



## Manitoba (Jun 25, 2014)

Darby Allen said:


> The ACR-I card is clearly marked Permanent Resident, and the passport shows this too. If the check-in operator isn't aware of the significance of that, demand to see a supervisor or an immigration officer.


To get back to SRRVs, I have had trouble convincing check in agents that I do not require an onward ticket to come to the Philippines, even though the SRRV card clearly says resident and I have a Philippine driver license.

Depending on my mood at the time I might have some fun.

Check in Agent: Do you have an onward ticket.

Me: No

Agent, A tourist needs an onward ticket.

Me: Yes that is correct.

Agent: Then where is your onward ticket?

Me: I told you I do not have one.

Agent: But you agreed that a tourist needs an onward ticket to go to the Philippines.

Me: That is still correct.

Agent: Then you need an onward ticket.

Me: That is not correct.

Agent: But you agreed that a tourist needs an onward ticket.

Me: Yes

Agent: Then as a tourist you need an onward ticket.

Me: That is not correct.

Agent: But you said that a tourist needs an onward ticket.

Me: Yes I did agree that a tourist needs an onward ticket.

Agent: Then why do you not have one.

Me: I am not a tourist.

Agent: If you are on a business visa you still need an onward ticket.

Me: Yes that is true.

Agent: Are you on a business visa?

Me: No

Agent: What visa to you have.

Me: Resident Visa.

Sometimes I can run it on for 5 minutes before they realize that not every white guy going to Manila is a tourist.


----------



## bigpearl (Jan 24, 2016)

Scott, if you do your due diligence and yes do it again the answers are there, read and read more. You will not lose your deposit whether you die or change securities as long as you liaise with the PRA through the correct protocols, have a standing and credible will while conforming with requirements both in PH. as well as your home country.
The PRA simply hold your deposit, an encumbrance no different to a bank holding a mortgage over a property or lien. A simple legal guarantee. Business and little more from my readings and while some members twist most offer great advice.

Scott, read here, read there but do read.

As said I will eventually walk this path but only when it suits us for our situation..
Prosper mate.

Cheers, Steve.


----------



## M.C.A. (Feb 24, 2013)

Back to any questions or information related to *SRRV worth it or not*.


----------



## bigpearl (Jan 24, 2016)

greenstreak1946 said:


> Is the SRRV visa really worth having here? With the $10,000 deposit plus the $1400 application fee plus the $360 a year fee adds up to $11,760 total. Divide up each year what it cost to renew the tourist visa and see if it is worth getting the SRRV. That is around 8 to 10 years of tourist fees.
> 
> If not old enough then it is a $20,000 deposit!!!!
> 
> ...


Good thoughts art and I see where you are coming from and agree at that level but if there are tax implications to be waived or a lazy SOB such as myself not wishing to visit immi every 59 days and pay the express fees when no one else is in the immi office, nor can I pick it up next week as I'm not in a hurry? "No sir you have to pay the express beer fees"
.
No return tickets or ? and is it EEC departure taxes providing you exit prior to 1 year. Other junk as well. A slightly smaller amount for Philhealth etc etc. the downside is locking cash up returning little as an investment in ones retirement. 10 or 20K US deposit/investment is an individual choice.

The SRRV system with the PRA offers a good variety of options and it's simply up to the pursuer whether any of these options suit. As said I too will go this way but when it suits me/us and not before.

Onwards with the topic, to each their own, research then do it again.

Cheers, Steve.


----------



## fmartin_gila (May 15, 2011)

bigpearl said:


> Onwards with the topic, to each their own, research then do it again.


THAT IS THE KEY!!. In that same train of thought, one has to be constantly aware of any changes to ones situation and/or laws which may or may not decree a change in Visa status. As for myself, I used to visit here short term on 21 day Tourist Visa, then when we moved here, I used Balbikbayan Visa status for a couple of years and have since gone to 13A(Permanent Resident) status which takes a couple of years to complete.

Fred


----------



## Scott E (Jun 1, 2015)

bigpearl said:


> Scott, if you do your due diligence and yes do it again the answers are there, read and read more. You will not lose your deposit whether you die or change securities as long as you liaise with the PRA through the correct protocols, have a standing and credible will while conforming with requirements both in PH. as well as your home country.
> The PRA simply hold your deposit, an encumbrance no different to a bank holding a mortgage over a property or lien. A simple legal guarantee. Business and little more from my readings and while some members twist most offer great advice.
> 
> Scott, read here, read there but do read.
> ...


Oh yes Thank you ,, I just came back to the website and discovered Many more replies and read most of them ,, Hey, I did not receive notices ,, Anyway thanks again still tossing this one about !! 
Perhaps I could do a citizenship thing, as I am a 13a resident for 10 years already !!

I understand now that my son will get the account or condo if I die. My only other concern is some sort of "Personal" or "Health" emergency that would require an immediate cash transaction, because $10,000 is all my reserve emergency cash. 

OK thanks much !!


----------

