The SRRV Experience - Page 2

Go Back   Expat Forum For People Moving Overseas And Living Abroad > Asia > Philippines Expat Forum

Philippines Expat Forum The Philippines Expats Forum is dedicated those individuals that have chosen to make Philippines their new home. This forum is an ideal place for Expats now living in Philippines to meet and discuss all aspects to their new way of life.

Like Tree40Likes

The SRRV Experience - Page 2


Reply
 
Subscribe to this Thread Thread Tools
  #11 (permalink)  
Old 30th August 2019, 08:40 AM
Gary D's Avatar
Member
 
Join Date: Oct 2013
Location: Hermosa Bataan
Posts: 1,604
Rep Power: 200
Gary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud of
1409 likes received
296 likes given

Users Flag! Originally from uk. Users Flag! Expat in philippines.
Default

Quote:
Originally Posted by Gorn View Post
SRRV requires a deposit into the Development Bank of the Philippines, from $10,000 to $50,000 depending on which SRRV.
There is a special version for ex military where the deposit is only $1500.
M.C.A. and Gorn like this.

Reply With Quote Quick reply to this message
  #12 (permalink)  
Old 30th August 2019, 09:13 AM
New Member
 
Join Date: Jun 2019
Location: Angeles City, Pampanga
Posts: 19
Rep Power: 0
Gazzalee is a jewel in the roughGazzalee is a jewel in the roughGazzalee is a jewel in the rough
26 likes received
8 likes given

Users Flag! Originally from usa. Users Flag! Expat in philippines.
Default

Quote:
Originally Posted by Gary D View Post
There is a special version for ex military where the deposit is only $1500.
Correct, I am ex military and discharge document, authenticated, was required
M.C.A. likes this.

Reply With Quote Quick reply to this message
  #13 (permalink)  
Old 31st August 2019, 02:34 AM
New Member
 
Join Date: Aug 2019
Posts: 20
Rep Power: 0
Gorn is on a distinguished road
4 likes given

Default

Quote:
Originally Posted by Gary D View Post
It's my understanding that you have to post the deposit before buying the condo.
What about a lease?

Say you're registering for an SRRV, but you already funded the purchase of a lot, and you already set up a lease for the house on that lot. Could you then apply the deposit towards that lease?

Or, you register for an SRRV, but you already funded the purchase of a lot. However you don't write up a lease for the house on that lot, until after the SRRV deposit.

Reply With Quote Quick reply to this message
Sponsored Links
Advertisement
 
  #14 (permalink)  
Old 31st August 2019, 07:21 AM
Gary D's Avatar
Member
 
Join Date: Oct 2013
Location: Hermosa Bataan
Posts: 1,604
Rep Power: 200
Gary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud of
1409 likes received
296 likes given

Users Flag! Originally from uk. Users Flag! Expat in philippines.
Default

Quote:
Originally Posted by Gorn View Post
What about a lease?

Say you're registering for an SRRV, but you already funded the purchase of a lot, and you already set up a lease for the house on that lot. Could you then apply the deposit towards that lease?

Or, you register for an SRRV, but you already funded the purchase of a lot. However you don't write up a lease for the house on that lot, until after the SRRV deposit.
It is my belief that you can't do it retrospectively. You are not going to beat the system.
M.C.A. likes this.

Reply With Quote Quick reply to this message
  #15 (permalink)  
Old 31st August 2019, 09:48 AM
New Member
 
Join Date: Aug 2019
Posts: 20
Rep Power: 0
Gorn is on a distinguished road
4 likes given

Default

Quote:
Originally Posted by Gary D View Post
It is my belief that you can't do it retrospectively.
Not sure if that applies to buying a house, then getting the SRRV, and then setting up the lease.

Quote:
Originally Posted by Gary D View Post
You are not going to beat the system.
The system wants foreigners to invest in the Philippines, that's what I want to do as well.

Reply With Quote Quick reply to this message
  #16 (permalink)  
Old 31st August 2019, 11:03 AM
Gary D's Avatar
Member
 
Join Date: Oct 2013
Location: Hermosa Bataan
Posts: 1,604
Rep Power: 200
Gary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud ofGary D has much to be proud of
1409 likes received
296 likes given

Users Flag! Originally from uk. Users Flag! Expat in philippines.
Default

Quote:
Originally Posted by Gorn View Post
Not sure if that applies to buying a house, then getting the SRRV, and then setting up the lease.



The system wants foreigners to invest in the Philippines, that's what I want to do as well.
Yes but by the sounds of your posts you are trying to beat the system. And how are you going to buy a house then set up a lease, again trying to beat tbe system.
M.C.A. and bigpearl like this.

Reply With Quote Quick reply to this message
  #17 (permalink)  
Old 31st August 2019, 08:49 PM
New Member
 
Join Date: Aug 2019
Posts: 20
Rep Power: 0
Gorn is on a distinguished road
4 likes given

Default

Quote:
Originally Posted by Gary D View Post
how are you going to buy a house then set up a lease
By buying it for a non-foreigner, it's actually common in the Philippines. "Some very eager people even fund a land purchase and then lease it back from a nominee at a very low rate". - https://nomadcapitalist.com/2013/12/...-in-the-world/

Reply With Quote Quick reply to this message
  #18 (permalink)  
Old 31st August 2019, 09:51 PM
Member
 
Join Date: Jan 2016
Location: Philippines
Posts: 842
Rep Power: 114
bigpearl is a name known to allbigpearl is a name known to allbigpearl is a name known to allbigpearl is a name known to allbigpearl is a name known to allbigpearl is a name known to all
670 likes received
739 likes given

Users Flag! Originally from australia. Users Flag! Expat in philippines.
Default

Quote:
Originally Posted by Gorn View Post
By buying it for a non-foreigner, it's actually common in the Philippines. "Some very eager people even fund a land purchase and then lease it back from a nominee at a very low rate". - https://nomadcapitalist.com/2013/12/...-in-the-world/
A very informative link Gorn, well done finding that one and I appreciated the read even though you couldn't find the answers to simple questions with regards to SRRV and security requirements, I agree with Gary that you are trying to scam the system that was built by the best scammers in the world and it appears that at the level you are now talking worrying about 10 or 20K those systems appear to be beyond your ability. Perhaps I am wrong and you are an accountant signing off on the last penny?

This has gone off topic and I would ask you Gorn to create a new thread in "actual" relation to your particular needs,,,,,, 2 or 3 new threads if needed.

A further question if I may, have you ever been to/spent time in this fine country? Let's move along.

Cheers, Steve.
M.C.A. likes this.

Reply With Quote Quick reply to this message
  #19 (permalink)  
Old 31st August 2019, 11:23 PM
New Member
 
Join Date: Aug 2019
Posts: 20
Rep Power: 0
Gorn is on a distinguished road
4 likes given

Default

Quote:
Originally Posted by bigpearl View Post
you are trying to scam the system that was built by the best scammers in the world
Come on Steve, I'm just trying to do what you tried to do right here - https://www.expatforum.com/expats/ph...l#post14546016 - except successfully.

Reply With Quote Quick reply to this message
  #20 (permalink)  
Old 1st September 2019, 12:17 AM
Member
 
Join Date: Jan 2016
Location: Philippines
Posts: 842
Rep Power: 114
bigpearl is a name known to allbigpearl is a name known to allbigpearl is a name known to allbigpearl is a name known to allbigpearl is a name known to allbigpearl is a name known to all
670 likes received
739 likes given

Users Flag! Originally from australia. Users Flag! Expat in philippines.
Default

Quote:
Originally Posted by Gorn View Post
Come on Steve, I'm just trying to do what you tried to do right here - https://www.expatforum.com/expats/ph...l#post14546016 - except successfully.
If you read correctly Gorn, not what I was trying to do but what we went trough and did to gain nothing and appears through your readings of many and varied contributions you have learn't nothing at all and still ask questions from those you scorn instead of appreciating and being thankful for advice or previous experiences offered or as suggested or simply going to the horses mouth, may I suggest with your attitude and focus the short journey here will be even shorter lived on other sites you partake in.
As recommended earlier simply contact the PRA and find out the correct answers from them and do away with the likes me/others offers on expat sites. You want to twist and contort/disbelieve information supplied by the likes of me and others to suit your contrived needs. Ain't gonna happen sport. I as said gave you the information you were too slack to find and still you question, go to the back sunshine, you have definitely rubbed me up the wrong way and if one can't find their way here? Good luck once you get your hands dirty and savour the tripe that is the Philippines. If you actually read, absorb both valuable and party conversations within this and other forums you will become a much wiser person.
Until then?

Cheers, Steve.
Gazzalee likes this.


Last edited by bigpearl; 1st September 2019 at 12:20 AM.
Reply With Quote Quick reply to this message
Reply


Quick Reply
Message:
Options

Register Now

In order to be able to post messages on the Expat Forum For People Moving Overseas And Living Abroad forums, you must first register.
Please enter your desired user name, your email address and other required details in the form below.
User Name:
Password
Please enter a password for your user account. Note that passwords are case-sensitive.
Password:
Confirm Password:
Email Address
Please enter a valid email address for yourself.
Email Address:
Location
Where you live
Expat From Country
Please select the country you originate from. This will appear as a flag when you make posts on the site.
Expat To Country
Please select the country you have either moved to or want to relocate to. This will be presented on the site when you make posts.

Log-in


Thread Tools

Posting Rules
You may post new threads
You may post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


FORUM PARTNERS

ExpatForum.com is owned and operated by VerticalScope Inc.

Retiring Overseas Guides | Moving Overseas Guides | Cost of Living | Health Care Guides


All times are GMT. The time now is 10:23 PM.


Powered by vBulletin®
Copyright ©2000 - 2019, vBulletin Solutions, Inc.
Search Engine Friendly URLs by vBSEO
vBulletin Security provided by vBSecurity v2.2.2 (Pro) - vBulletin Mods & Addons Copyright © 2019 DragonByte Technologies Ltd.