Who can help with answers about the SRRV visa?

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Who can help with answers about the SRRV visa?


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Old 3rd February 2014, 12:25 AM
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Default Who can help with answers about the SRRV visa?

I plan on retiring to the Philippines sometime this year. The SRRV looks like this best way to do it to me, but I have a few questions.

How tough are they with the physical exam? I'm pretty healthy but I'd hate to be placed on a treadmill for a long period like I know some exams require.

What's the best bank to put your deposit in?

If you quit the SRRV program do you get your deposit back (if you have not invested it)?

Is the police check the PRA requires for the town you live in --- or statewide or does it have to be a nationwide police check?

Thanks
Maxx
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Last edited by Asian Spirit; 3rd February 2014 at 06:30 AM. Reason: Title Change
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Old 4th February 2014, 07:04 AM
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Originally Posted by Zone199 View Post
I plan on retiring to the Philippines sometime this year. The SRRV looks like this best way to do it to me, but I have a few questions.

How tough are they with the physical exam? I'm pretty healthy but I'd hate to be placed on a treadmill for a long period like I know some exams require.

What's the best bank to put your deposit in?

If you quit the SRRV program do you get your deposit back (if you have not invested it)?

Is the police check the PRA requires for the town you live in --- or statewide or does it have to be a nationwide police check?

Thanks
Maxx
I will try to help you with some referral websites having to do with SSRV.

http://ezinearticles.com/?Visa-and-R...ble&id=3002052

The gist of it is:



This is one of the first questions asked by someone considering retirement in the Philippines. The Philippines is very visitor friendly, and permits a citizen of just about any country to enter the country and stay for 21 days without a visa. For those intending to stay longer, in particular those intent on semi or full time retirement in the country, the following 3 options are available.

1. The Special Resident Retiree Visa (SSRV)

Although not widely known, the Philippines has a foreign retiree program. It is called the Special Resident Retiree Visa (SSRV) program. It entitles the holder to multiple-entry privileges with the option to reside permanently in the Philippines. The younger you are, the higher the financial requirement, but anyone over 35 can join.

With a pension:
o 50 years old and above: $10,000 [approx. 450,000 PhP] time deposit in a Philippine bank for the duration of your stay. Single applicants need a monthly pension of $800 [approx. 36,000 PhP ; $1,000 [approx. 45,000 PhP] for couples. Note however that the time deposit can be converted into equity in a real estate investment [i.e., a condominium], and this can be counted at the required deposit.

Without a pension:
o 35 to 40 years old: $50,000 time deposit
o 50 years old and above: $20,000 [approx. 900,000 PhP] time deposit

A pension can be from a company you worked for, money you received by the US Social Security Administration, i.e., SSRDI [Social Security Retirement Disability Insurance]. Note: SSI does not qualify you as you have to be a US Resident to receive it and cannot receive it if you are out of the country.

2. Tourist Visa

Provided you have no plans to obtain employment or to own/operate a business in the Philippines, it is also possible to retire on a tourist visa. Many Expats follow this course; especially those who do not qualify for a retirement visa.
This is how that process works. All visitors to the country must hold a passport that is valid for at least six months beyond the period they plan to stay. They are permitted to stay for up to 21 days provided they hold tickets for onward or return journeys. Visas and special permits may be obtained from Philippine embassies or consular offices overseas.

Visitors intending to extend their stay from 21 days to 59 days should contact the Immigration Office for an extension and pay a nominal fee.

By this method, you can stay indefinitely, provided you leave once a year, for at least one day. Most people using this option fly over to Hong Kong, Thailand, or Singapore for a few days once a year and then re-enter as a tourist for another year.

3. Balikbayan Status

This visa status is designed for former Philippine citizens, and their spouses, who are visiting the Philippines (referred to as "balikbayans"). This entry is valid for one year. After one year, the balikbayan (and his/her spouse) has to pay monthly extension fees, on top of fees for Alien Certificate of Registration (ACR), Head Tax, and Certificate of Temporary Residence Visa (CTRV). Most Balikbayans and their spouse enter the country with their one year status, and then leave the country once a year for a weekend trip to Hong Kong, Singapore, or Thailand, or to their home country, and then re-enter for another year of stay. This method avoids having to continuously extend one's tourist visa, and run the risk of forgetting and then being in an "overstay" category, which could get you deported.

Do you want to learn more about visa and immigration requirements? I have just completed my new book on "Retirement Living in the Philippines", which has a special Appendix dedicated to this subject matter.

Download it at Living in the Philippines, retirement investment

Will Irwin is a powerful entrepreneur, and business and life coach. He has started many online and offline businesses both in the USA and in the Philippines, residing in both Hawaii and the Philippines.

Article Source: http://EzineArticles.com/?expert=Will_Irwin

Article Source: http://EzineArticles.com/3002052

Philippine Retirement Visa: my experience with the SRRV |

Do you have a Filipina girl friend or do you plan to marry a Filipina? My reason for this is I, myself, am married to a Filipina for almost 7 years and I was never required to get the SSRV as I received a pension and my wife petitioned me for Permanent Residency. I am fixing to turn 67 and I went on SSRDI effective 2004 and effective 2014 I went on Full Social Security.
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Old 5th February 2014, 05:36 PM
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Thanks Jim, but I guess I already knew most of that. I've read just about everything, I think, that the PRA has on-line about the program, so I know the basics. I guess what I need is someone that has actually been through the process to answer the questions I have.

Thanks
Maxx

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Old 5th February 2014, 06:07 PM
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Originally Posted by Zone199 View Post
Thanks Jim, but I guess I already knew most of that. I've read just about everything, I think, that the PRA has on-line about the program, so I know the basics. I guess what I need is someone that has actually been through the process to answer the questions I have.

Thanks
Maxx
Understood, fortunately I never had to go through the SRRV process, since I'm not retired military there is no way I could have $20,000 much less $50,000 cash on hand to put into a bank for SRRV purposes.

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Old 5th February 2014, 07:16 PM
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Quote:
Originally Posted by Zone199 View Post
I plan on retiring to the Philippines sometime this year. The SRRV looks like this best way to do it to me, but I have a few questions.

How tough are they with the physical exam? I'm pretty healthy but I'd hate to be placed on a treadmill for a long period like I know some exams require.

What's the best bank to put your deposit in?

If you quit the SRRV program do you get your deposit back (if you have not invested it)?

Is the police check the PRA requires for the town you live in --- or statewide or does it have to be a nationwide police check?

Thanks
Maxx
Unless they have changed it in the last 3 yeas. you do not have to do anything phsycal. Blood and urine testing and xrays. You have an interivew with a doctor and not a whole lot more than that. It took me about 1 to 2 hours.

I am not sure, but I think that they have just one bank now. Someone can correct me if I am wrong.

If you quit, you do get your money back.

For me, I went down to the local county sherrifs office.

You mighrt want to take a look at the "Visa Guidance" forum started by BillJohnson. It has more information.

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Old 5th February 2014, 11:31 PM
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Default Who can help with answers about the SRRV visa?

Maxx,

I just received my SRRV visa.

if you are planning to return to the states and then come back to Phil, your doctor in the states can complete the forms for you along with lab work & xrays. If not you can get it done here. no treadmill, just standard form signed by your dr saying you are not crazy or contagious. lol

you will need an fbl background check. i got mine while in the states as well as from my state (california).

the papers would have to be certified by the nearest Phil Consulate.

there is more than 1 srrv visa...

go to the PRA website to get more info to see which one you may qualify for. i tried to include the link, but the forum would not let me.

if you are here and not returning to the states, you can get the medical stuff done here at an approved facility.

whatever you do, be sure that your papers are in order with no misspellings or typos. the Phil govt is a stickler for typos.

i am in the Cebu area & there is a PRA office here in Cebu.

Jeff
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Old 6th February 2014, 12:39 AM
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Unless they have changed it in the last 3 yeas. you do not have to do anything phsycal. Blood and urine testing and xrays. You have an interivew with a doctor and not a whole lot more than that. It took me about 1 to 2 hours.

I am not sure, but I think that they have just one bank now. Someone can correct me if I am wrong.

If you quit, you do get your money back.

For me, I went down to the local county sherrifs office.

You mighrt want to take a look at the "Visa Guidance" forum started by BillJohnson. It has more information.

Bill, thank you very much --- that was a very helpful answer. I am relieved the physical is not real physical --- I've managed to get pretty out of shape since I've been retired. It's also good to know I get my money back if I leave ... in all the stuff the PRA has posted on-line they never get around to telling you that, even though it is implied.

Thanks Again
Maxx

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Old 6th February 2014, 12:56 AM
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Maxx,

I just received my SRRV visa.

if you are planning to return to the states and then come back to Phil, your doctor in the states can complete the forms for you along with lab work & xrays. If not you can get it done here. no treadmill, just standard form signed by your dr saying you are not crazy or contagious. lol

you will need an fbl background check. i got mine while in the states as well as from my state (california).

the papers would have to be certified by the nearest Phil Consulate.

there is more than 1 srrv visa...

go to the PRA website to get more info to see which one you may qualify for. i tried to include the link, but the forum would not let me.

if you are here and not returning to the states, you can get the medical stuff done here at an approved facility.

whatever you do, be sure that your papers are in order with no misspellings or typos. the Phil govt is a stickler for typos.

i am in the Cebu area & there is a PRA office here in Cebu. Where are you?

if this helps at all & i can be of any other assistance, just let me know... Jeff
Jeff, thanks for your answer, that was very helpful. And Yes, I'm sure I will have more questions later, so I've added you to my contacts list.

So I need an FBI check and also a check from my state. OK, that should be doable.

I'm still in Missouri, I hope to retire to the Philippines sometime this year. I'm already retired from work. I'm divorced so it's just me that is moving. And I have checked out the different kinds of SRRV's --- I qualify for the $10,000 deposit because I have a pension and I'm in 57 years old.

Oh yeah, do you know or could you recommend which bank is best to keep your deposit in? I think one of the banks that was approved for the program went bankrupt last year and lots of people lost their money. So I'm kind of concerned about which banks in the program have a good balance sheet. Any suggestions?

Thanks
Maxx

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Old 6th February 2014, 01:01 AM
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Originally Posted by JimnNila143 View Post
Understood, fortunately I never had to go through the SRRV process, since I'm not retired military there is no way I could have $20,000 much less $50,000 cash on hand to put into a bank for SRRV purposes.
It's only a $10,000 deposit now --- if you are (I think 50 or maybe its 55) years old and you have a pension more than $800.00 a month, but your pension has to be more if you have dependents going with you, but that's not my situation. I couldn't afford it either if it was $50,000.
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Old 6th February 2014, 02:17 AM
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Maxx...

the PRA website can give you more details. i was lucky to qualify for the courtesy visa as ex-military which requires a deposit of only $1,500.00 and an annual renewal fee of $10.00. the other SRRV visa's have an annual renewal fee of $360.00.

While the cost to get the SRRV visa is a bit high ($1,400, processing fee), you can make it up when traveling and/or just renewing a visitors visa every 2 months and then having to leave the country after 16 months.

As far as banks go, i am researching that now, but an american neighbor & filipina wife have their accounts at Metrobank. I checked BPI, but they want a letter of confirmation from my U.S bank, too much trouble & hassle, so i will check BDO & decide whether to go BDO or Metrobank. Oh! when you get here, you may want to consider having two accounts...a dollar account & a peso account as if you transfer USD, and exchange it here, you get a better rate than remitting pesos to yourself. When i do a remittance, i use XOOM and send USD to myself receiving the money at M.Lhuillier & asking for pesos. their rate is one of the highest. today's rate is 45.235 & M.Lhuiller gave me pesos at 45.06 just an hour ago. When you do a remittance from USD to PHP you can lose as much as 1 peso per dollar. does not sound like a lot, but if you remit $1,000 or more, it can add up real quick. Just stay away from Western Union cuz their fees and rates eat up too much of your money.

Take Care & Remember 'It's more fun in the Philippines'
Jeff
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