# SRRV conditions



## mogo51 (Jun 11, 2011)

I have read that part of the requirements for this visa, is that any pension received must be paid into a Philippine bank a/c? 
As I do not leave any more money in Philippines than is absolutely necessary, that would make me a non starter. 
Any advice appreciated, along with whether it can be circumnavigated.
thanks all.


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## Tukaram (Dec 18, 2014)

I was looking into the SRRV and did not hear about that one. Yeah, that would be a game ender for me too. No way I am tying up any more money here than I absolutely have to.


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## Manitoba (Jun 25, 2014)

Yes, the pension has to be remitted to a Philippine Bank. I am not sure but I believe that it can be remitted in your home country currency if the local bank allows that and then you could simply transfer any surplus back home.

Unless your pension is much larger than what you need to live on here, it might take a while to build up to an amount significant. 

The other alternative is to pay the 20k deposit and come as a nonpension SRRV.


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## bidrod (Mar 31, 2015)

One of my friends has the SRRV for military service and receives at least 3 pensions from the USA. None are direct deposited in the Philippines, he transfers funds from his USA bank.

Chuck


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## Manitoba (Jun 25, 2014)

bidrod said:


> One of my friends has the SRRV for military service and receives at least 3 pensions from the USA. None are direct deposited in the Philippines, he transfers funds from his USA bank.
> 
> Chuck


You only need the pension transferred if you are under the Classic SRRV with pension and over 50-year-old option. That makes your deposit 10K USD. If less than 50 years old the deposit is always 50k and without pension it is 20k.

If you are coming under the past military option then the deposit is 1500 USD and pension does not matter.


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## bidrod (Mar 31, 2015)

Damn I am 70 and retired military but I will still take the 13a over the SRRV. JMHO 

Chuck


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## Manitoba (Jun 25, 2014)

bidrod said:


> Damn I am 70 and retired military but I will still take the 13a over the SRRV. JMHO
> 
> Chuck


The only drawback with the 13a visa is that it is dependant on the marriage. If you outlive your spouse and still want to stay here then you would need to convert back to tourist visa then apply for an SRRV.

Your deposit would be only $US1500 but the $US1400 application fee would still apply.


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## mogo51 (Jun 11, 2011)

Manitoba said:


> Yes, the pension has to be remitted to a Philippine Bank. I am not sure but I believe that it can be remitted in your home country currency if the local bank allows that and then you could simply transfer any surplus back home.
> 
> Unless your pension is much larger than what you need to live on here, it might take a while to build up to an amount significant.
> 
> The other alternative is to pay the 20k deposit and come as a nonpension SRRV.


The day I hand over $20US to Philippine bank is the day they take me away in a straight jacket talking to myself and getting answers.


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## mogo51 (Jun 11, 2011)

These replies are what I expected, but was hoping there was a way around it. But alas no, so I really cannot see that the SRRV is any big bonus or benefit, as they would like you to believe.


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## Manitoba (Jun 25, 2014)

For me the real benefit was in my Canadian tax situation. As a legal resident of the Philippines I am no longer taxed on my worldwide income by Canada just on my Canadian income by Canada and my Philippine income by the Philippines. If I work in a third country then I would be subject to the tax on that income by the third country.

However if I do work again, it will be on either USAID or ADB or World Bank funded projects where the recipient country does not tax foreigners so my income will be tax free. 

I only need a couple months work to save more than my $US20k deposit that I most likely will get back eventually or will convert to my condo payment.

The lack of periodic trips to the BI and the need for onward tickets etc is all a bonus as far as I am concerned.


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## bidrod (Mar 31, 2015)

Manitoba said:


> For me the real benefit was in my Canadian tax situation. As a legal resident of the Philippines I am no longer taxed on my worldwide income by Canada just on my Canadian income by Canada and my Philippine income by the Philippines. If I work in a third country then I would be subject to the tax on that income by the third country.
> 
> However if I do work again, it will be on either USAID or ADB or World Bank funded projects where the recipient country does not tax foreigners so my income will be tax free.
> 
> ...


Did you do anytime in the Canadian Forces? If so it is my understanding you would qualify the Expanded Courtesy.

Chuck


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## mogo51 (Jun 11, 2011)

Manitoba said:


> For me the real benefit was in my Canadian tax situation. As a legal resident of the Philippines I am no longer taxed on my worldwide income by Canada just on my Canadian income by Canada and my Philippine income by the Philippines. If I work in a third country then I would be subject to the tax on that income by the third country.
> 
> However if I do work again, it will be on either USAID or ADB or World Bank funded projects where the recipient country does not tax foreigners so my income will be tax free.
> 
> ...


Yes a 'no brainer' for you, but I am retired and have a small super fund, they are never going to get their hands on that. I leave it in Oz and it earns 10%+ a year for me. Here they would charge me if they could.


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## Manitoba (Jun 25, 2014)

bidrod said:


> Did you do anytime in the Canadian Forces? If so it is my understanding you would qualify the Expanded Courtesy.
> 
> Chuck


I worked as a civilian employee of the CAF for 10 years, as s consultant to some major suppliers on projects dedicated to the CAF for another 5 years and was in Afghanistan for 9 years working for UNOPS, USAID and ADB working closely with NATO and ISAF and Afghan forces but was never in uniform. I do speak military lol.

I would like to know if anyone has experience with the distinguished scientist and engineer option under the Expanded Courtesy visa. I might qualify as that as I was a construction engineer for 40 years in North America, Asia, Europe and the Caribbean


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## Manitoba (Jun 25, 2014)

mogo51 said:


> Yes a 'no brainer' for you, but I am retired and have a small super fund, they are never going to get their hands on that. I leave it in Oz and it earns 10%+ a year for me. Here they would charge me if they could.


I agree that it is not for everyone. If it wasn't for Canada tax status I most likely would have gone with the extended tourist visa option.

However, I now have a Philippine DL which is not a given with tourist visas.


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## Tukaram (Dec 18, 2014)

The only real benefit I have seen was an expat who still worked in the sandbox. He would come here on his breaks to see his wife, and went in and out of the country a lot. The SRRV allows for in and out privileges better than the 13a. With the 13a you have to pay around p3,000 every time you leave the country to obtain the certificate of re-entry. It keeps your visa valid while gone. It is good for one year, but single use. He went in and out of the country like 3 times a year. He could have just stayed on a tourist visa, but he liked the permanent status of the SRRV.


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## Manitoba (Jun 25, 2014)

Tukaram said:


> The only real benefit I have seen was an expat who still worked in the sandbox. He would come here on his breaks to see his wife, and went in and out of the country a lot. The SRRV allows for in and out privileges better than the 13a. With the 13a you have to pay around p3,000 every time you leave the country to obtain the certificate of re-entry. It keeps your visa valid while gone. It is good for one year, but single use. He went in and out of the country like 3 times a year. He could have just stayed on a tourist visa, but he liked the permanent status of the SRRV.


If I go back to play in the sandbox again I'll be tax-free.

In my 9 years there I paid the Canadian Government about $US 600k. 

This tax advantage does not exist for Americans because they are taxed on worldwide income always. Canada only taxes residents but it is difficult to become a non-resident for tax purposes unless up have truly left the country for good. Having the SRRV makes my tax free non-resident status bulletproof.


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## fmartin_gila (May 15, 2011)

Kind of brings up the old and simplified 'different strokes for different folks'. Each of us as individuals have to decide what we think is best for our individual circumstances. Even though we have some commonalities, each has somewhat varying circumstances.

Fred


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## bigpearl (Jan 24, 2016)

mogo51 said:


> Yes a 'no brainer' for you, but I am retired and have a small super fund, they are never going to get their hands on that. I leave it in Oz and it earns 10%+ a year for me. Here they would charge me if they could.


http://www.philippine-embassy.de/bl.../special.resident.retirees.visa.srrv.info.pdf

The more you read with PRA it becomes a little convoluted but taken on face value the rules are very simple as in Manitoba's situation, mine and all readers situations vary for different personal and financial reasons. Each has to make an educated decision which can only be done relating to personal circumstances set out within their boundaries no different to a 13a, SIRV, tourist visa etc.
I am aligned with Manitoba's reasoning for his situation and suggestions to others. A very astute contributor caring to share observations, information and experience/s as we all try to do, occasionally slapped but an opinion.

Many options open up with an SRRV aside from trivialities (exit, entry, resident, BI visits, etc)
The interesting thing is the ability to work and I naively assume the ability to run a business.
Tax laws adhered to relating to ones origin and all the fanfare opens a plethora of opportunities with a front man/woman or simply employing people for construction needs or being the dude on the ground making it happen.

Unfortunately I can't avail a 13a, if I had the chance then I would look at both options, all others then evaluate to suit our needs and wants. The sand box I assume means the opportunity/ability to continue to work O/S without affecting ones status in PH? Depends on tax treaties I suppose, an issue I will discuss with my accountant.

A great topic with interesting views. 

Cheers, Steve.


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## Manitoba (Jun 25, 2014)

bigpearl said:


> ...... The sand box I assume means the opportunity/ability to continue to work .....


The sandbox is military slang for Iraq/Afghanistan and associated countries.

At least that is how I took it to be used.


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## bigpearl (Jan 24, 2016)

Manitoba said:


> The sandbox is military slang for Iraq/Afghanistan and associated countries.
> 
> At least that is how I took it to be used.


As a plumber serving in the sewer trenches I am learning.

Cheers, Steve.


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## Zep (Jun 8, 2017)

bigpearl said:


> As a plumber serving in the sewer trenches I am learning.
> 
> Cheers, Steve.


As an american I get to now use the "sh***thole" term as it has been approved by the president.:cheer2:


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## brmpipes (Jun 2, 2016)

I'm in the same boat. 170000 Canadian in Philippine bank.

I'm a little worried.


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## bigpearl (Jan 24, 2016)

Zep said:


> As an american I get to now use the "sh***thole" term as it has been approved by the president.:cheer2:


Haha, we wish.

Cheers, Steve.


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