Originally Posted by greenstreak1946
i am trying to find out exactly what it takes to get the srrv visa.
1. i know i can make a $10,000 time deposit. How long does the deposit have to stay?
2. how do I get police clearance from my country while living in Philippines?
3. anything else I have to be aware of wen applying for the visa?
4. does this has to be done in Manila or any immigration office?
5. I assume this will be a lot cheaper then tourist visa and less hassle.
I have an SRRV
The deposit has to stay as long as you have the visa. It is in your name and you get interest on it but there is an admin fee that is just about the interest. You can convert it to ownership in a condo, golf course membership or long-term lease. You also with a 10k deposit have to prove the remittance of your pension to a Philippine account. I used the 20k option so I have no info on this.
Police clearance is supposed to be national, i.e. FBI in your case. I am Canadian so got an RCMP clearance. It has to be authenticated at the Philippine Embassy (aka red ribboned). There are online companies in Canada that take your order then you send the documents to them and they take care of all of it. Not sure but I'd bet that there is the same service in the USA.
The visa is issued by the Philippine Retirement Authority, not the BI. I applied at the main office in Manila and it was 4 weeks to the day before I got my passport and visa back.
Overall the cost is a wash between a tourist visa and SRRV but the SRRV is a lot less hassle. Now that I have applied and gotten my first-year enrolment I do not have to do anything. On the first anniversary month, I can pay for 3 years and then not do anything else until 2021.
Additional advantages are you can get a Philippine driver license, enter the country without an onward ticket and get a local bank account without the tourist restrictions on it.
The PRA has a system of agents in place. Use one of these they take care of everything for you. I went one day and applied and they took me to my medical and the bank for the term deposit. I returned in a couple days for final document submission and then to pick up the visa after the 4 weeks. Total time including travel to get the medical and to the bank was less than 5 hours and that included an hour chatting with another SRRV holder when we picked up our documents.