SRRV and illegalities.

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SRRV and illegalities.


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Old 1st September 2019, 01:08 AM
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Default SRRV and illegalities.

I am creating a new tread for one of our fellow members.

Taking up space while within a topic and slides off topic is not needed so for Gorn and readers here's a new thread immediately related to one of our new members and a couple of running posts that oft times go off topic.

Buying/leasing land whether bare or house and lot for a westerner is fraught with dangers always and though all try dearly to protect themselves has to be by the law of the land and within this forum respected and by constitution followed. Filipino law has to be adhered to and then some. Personally I wish the Australia government would/could adopt a similar approach instead of selling everything.
Trying to buck the system through constitutional rights/laws and loopholes within could inevitably be short lived if not adhered to correctly.

My contributions within this site and others are based on my experience/s with the PRA and the proffered SRRV options and many invaluable contributions from fellow members.

What are your thoughts and what have you learned with regards to being an outsider (as we are) with your entitlements if you go the SRRV route? Don't forget if you have cash to splash you (75K US) can go the SRIV route, another option that I looked into.

I suppose the question from me and potentially other readers is what are you trying to achieve given from a previous question "have you ever been here" and my next suggestion if not perhaps look at other Asian countries like Laos or Cambodia if Asian countries are up your alley where your dollars may go further if on a budget and their visa requirements that may be harsher or more preferable to your needs.

Anyway I'm sure one of our moderators and other members will take up my rant or slap me for being difficult ar*e.

Cheers, Steve.
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Old 1st September 2019, 01:56 AM
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I will just continue this new thread where the old one left off:
Quote:
Originally Posted by bigpearl View Post
I assumed because I had the lease I could get my bond back from the PRA
Thanks to Steve's experience, I and others reading this know what not to do: fund a house and lot purchase, set up a lease, and then get an SRRV.

Now the question is what you can do, for example fund a house and lot purchase, then get an SRRV, and then set up a lease.


Last edited by Gorn; 1st September 2019 at 02:20 AM.
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Old 1st September 2019, 02:26 AM
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Quote:
Originally Posted by Gorn View Post
I will just continue this new thread where the old one left off:


Thanks to Steve's experience, I and others reading this know what not to do.

Now the question is what you can do, specifically if I fund a house and lot purchase now, and get an SRRV later, would there be any issue with setting up a lease at that time? As opposed to doing everything post-SRRV.
So now I have your attention.

Have you ever been to PH. before?
Are you gay or have a lady in tow. Married or single? All relevant questions for your situation with the PRA. and getting a measly 10K back. Remember I asked your situation before with no info supplied.
Regardless Gay with a partner or a nobby on the title if this is the path you choose to ride do it very carefully, a lady in tow with what you are trying to do? She will be the winner no different to my partner.

Perhaps answer my first question and we will move on. Have you ever been to the Philippines? or simply a partner online feeding you?

Let's open up here mate, you ask some pertinent questions and are doing your research though slow and we have no idea your circumstances lest why you ask your questions and all over what appears to be US 10K. Definitely a small amount by western standards compared to what comes next. LOL, and there after.

Cheers, Steve.

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Old 1st September 2019, 06:42 AM
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Quote:
Originally Posted by bigpearl View Post
getting a measly 10K back.
It's funny you keep repeating that, because that's exactly what you wanted to do:

Quote:
Originally Posted by bigpearl View Post
I assumed because I had the lease I could get my bond back from the PRA
Let's keep the topic to that: How to get one's bond back from the PRA.

From Steve's experience, we know how you can't.

From the law, we know how you can: First SRRV, then purchase a condo or get a long-term lease.

My only question, and it's a simple one, and it's directed to anyone here, is regards to the timing: first fund a house and lot purchase, then get an SRRV, and then set up a lease. It seems like PRA would allow this, though I don't want to make any assumptions, hence my query here. Based on the lack of answers, it's quite possible this is only something an attorney would be able to answer, which will be my next step.

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Old 1st September 2019, 07:27 AM
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Gorm,
A couple of things worth pointing out before you set things in motion is the Special Retirement and Residence Visa is not an automatically issued ticket, I did hear of one applicant that was rejected and would suspect there are others. First and foremost the SRRV was setup as a ticket allowing retirees to live in the Philippines. By issuing that visa to deserving foreigners it brings in foreign capitol, simple, example the much discussed bank deposit as well as the money spent on living expenses by these foreigners, $1K monthly income required. I don't think the SRRV was intended as an investment platform or tool, though some advantage can be made within the rules of the program. As advised by Steve, it would be best to address your issues and circumstances directly to the PRA folks if you want accurate and correct advise. It's your $10K!
One question I've yet to figure out is why do you want to fix the horse in front of the cart?
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Old 1st September 2019, 07:39 AM
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And a quick note about leases, they aren't cast iron. It has been know for a lease to be broken once a leasy has built a substantial property of the land. Also the family code prevents someone leasing from their partner as the family code treats both parties as a single entity, you can't lease from yourself. Oh and the dummy corporation law stops you forming a corporation to aquire land. And finally all lawyers in the Philippines are shisters and will give you a piece of paper saying whatever you want to hear.....and you can't sue them.
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Old 1st September 2019, 07:45 AM
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Gorn, do you need to live in Manila or a large city and does your other half have access to family land or family squatted land? if so there could be a spot for you and so put up a modest house on the family plot and you won't have to keep messing with legalities and I don't know about you but I'll avoid any governmental agency or professional here if I can.

Excellent advice from Gary you don't want to mess with Lawyers or any professionals in the Philippines and isn't that the reason why we come here to get away form all these silly contracts, you won't find me signing any contracts or leases and for sure I won't put up any deposits either, we need to stop playing by Western rules unless your blessed with endless cash and then God Bless you do it by the book, what's the worst that can happen to you... you'll have to move and no contracts to tie you down or people to report you to the Bureau of Immigration.

With all that said I know absolutely nothing about your situation but LOL what the heck I threw that out there, work smarter not harder spend less cash. Gorn I'm a squatter on family squatted land since the 40's but us since the 90's.
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Last edited by M.C.A.; 2nd September 2019 at 11:07 AM.
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Old 2nd September 2019, 09:24 AM
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Quote:
Originally Posted by M.C.A. View Post
Gorn, do you need to live in Manila or a large city and does your other half have access to family land or family squatted land? if so there could be a spot for you and so put up a modest house on the family plot and you won't have to keep messing with legalities and I don't know about you but I'll avoid any governmental agency or professional here if I can.

Excellent advice from Gary you don't want to mess with Lawyers or any professionals in the Philippines and isn't that the reason why we come here to get away form all these silly contracts, you won't find me signing any contracts or leases and for sure I won't put up any deposits either, we need to stop playing by Western rules unless your blessed with endless cash and then God Bless you do it by the book, what's the worst that can happen to you... you'll have to move and no contracts to tie you down or people to report you to the Bureau of Immigration.

With all that said I know absolutely nothing about your situation but LOL what the heck I through that out there, work smarter not harder spend less cash. Gorn I'm a squatter on family squatted land since the 40's but us since the 90's.
Hear you Mark, as always a different slant/perspective and oft times wise to things many times overlooked. Unfortunately for us all of Bens family live on 50 to 60M2 blocks and yes squatters, all house no dirt or garden, concrete jungle. We did think about buying in the titled subdivision in the rear of the outlaws but at 800K for a 160M2 lot? Gone off track, soz.

I think good advice has not only been given by myself but others here with relation to the way Gorn should go about securing his needs, go straight to the horses mouth and ask. As we did after the fact and proffered to Gorn by myself in other threads, we purchased and then found out the title and lease had to be changed to the wording/s required by the PRA and also the fact that to do this required a US 50K deposit to be convertible and not 10 or 20K; this info was offered up and still questioned, and back to the horses mouth?

You can lead a horse to water but you can't make it drink.

If Gorn (to answer the questions) does buy/lease property prior to applying for his intended SRRV status then should include the wording I supplied to him by me (because he couldn't find it) by the PRA with regards to conversions of deposits and sincerely look into the 10 or 50K scenario.
If SRRV status is accomplished prior to purchase and or lease then simply follow their protocols, again look into the minimum deposit that is convertible.
It is not difficult to chat with the PRA team and answers will come, for us, as another mentioned put the cart before the horse and simply offer my experiences now and the simple path I/we will take, hey it's only 10K as another member keeps reminding me that Wants to save that 10K but for many that is a lot or to others small change, as said I am not going through another 18 months of title changes/new lease etc. and will gladly lock up 10K once I decide to draw a pension from my superannuation, could be 5 or 10years.
The info has been given and only from my experience and situation, now the major participant that this thread was created for needs to do the hard yards and find out the legalities that suit/benefit his/her needs/situation. As one of our very astute members advised.....

"And a quick note about leases, they aren't cast iron. It has been know for a lease to be broken once a leasy has built a substantial property of the land. Also the family code prevents someone leasing from their partner as the family code treats both parties as a single entity, you can't lease from yourself. Oh and the dummy corporation law stops you forming a corporation to aquire land. And finally all lawyers in the Philippines are shisters and will give you a piece of paper saying whatever you want to hear.....and you can't sue them."

A broken record perhaps but as said over and over: Find out the answers yourself instead of criticising/questioning information supplied by participants that you initially asked help/advice from and were supplied, if worried about finances as you Gorn appears to be over "a measly 10K" yes measly then perhaps the Philippines is out of your league?
And as asked have you ever visited this our adopted country? Seems not. Good info by fellow members and good luck to you Gorn finding your way.

Cheers, Steve.
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Old 2nd September 2019, 11:43 PM
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Quote:
Originally Posted by Gazzalee View Post
$1K monthly income required
Actually that's not required, but if you can prove that income then your deposit is $10k instead of $20k.

Here's another question: is it any monthly income, for example investment income, or do they only accept "Pension Documents"?

Quote:
Originally Posted by Gazzalee View Post
One question I've yet to figure out is why do you want to fix the horse in front of the cart?
Good question, and the answer is because I've seen a few properties I'd be interested in funding a purchase for now.

That being said, it's clear that a SRRV is not guaranteed, and using your $10k or $20k or $50k via lease is not guaranteed.

Quote:
Originally Posted by Gary D View Post
the family code prevents someone leasing from their partner as the family code treats both parties as a single entity, you can't lease from yourself.
And yet what you just described happens all the time in the Philippines, so much that any lawyer is familiar with the process, even the point of recommending it.

The question here is, are there any other PRA restrictions on who you lease from? Would unmarried partners, like in Steve's case, be considered scamming the system by the PRA? Or is it strictly regarding legal marriages only?

Quote:
Originally Posted by M.C.A. View Post
I won't put up any deposits
What's your visa status? Permanent resident or immigrant visas require a deposit (13a more of an emotional deposit

Quote:
Originally Posted by bigpearl View Post
to do this required a US 50K deposit to be convertible and not 10 or 20K
Again, read the law: $50k is only required if under age 50, $20k if over 50 and $10k if over 50 with pension.


Last edited by Gorn; 2nd September 2019 at 11:52 PM.
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Old 3rd September 2019, 05:00 AM
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Quote:
Originally Posted by Gorn View Post
....
Here's another question: is it any monthly income, for example investment income, or do they only accept "Pension Documents"?


....
You have to have a lifetime guaranteed pension, I have investments that will pay out a lot more than the minimum, especially when combined with my pension (not quite enough to qualify) that will kick in next year.

They would not consider investment income as that is not guaranteed.
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