Visa comparisons

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Visa comparisons


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  #1 (permalink)  
Old 27th June 2014, 03:24 AM
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I am a little confused as to the benefits of a SRRV type of visa over simply getting visa extensions on a tourist visa.

A SRRV requires $ 1 400 in application fees and $360 a year plus an investment of, for me, $20 000 (less if I had a pension income) with what looks like a complicated application process.

On the other hand getting visa extensions is a couple hours every two months with annual fees of around $550. All indications are that getting extensions outside of Manila is relatively easy and usually hassle free at least after the first one.

Visa extensions require leaving every 16 months or so but I would intend to return home once in a while and to travel in the region anyway so that is not an issue for me.

It would take 7 years to pay back the cost of the SRRV application fee and the $20 000 would be tied up in the Philippines where I may have trouble extracting it should I have to leave (especially if in a long term rental or condo purchase).

I also looked at getting longer term tourist visas before I left Canada but I can only get a visa good for a 59 day stay (but can start the 59 days anywhere up to a year) however from where I live in Canaa getting the visa would be a hassle.

Am I missing something here in my comparison of the two types of visas? Are there some advantages or disadvantages that I am missing?

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Old 27th June 2014, 04:02 AM
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Welcome to the forum Manitoba.

You are not missing anything. The $20K time deposit can be used towards a condo. Then you would be stuck trying to sell the condo to get your money out (should you decide to leave or move on).

I am in the Subic Freeport and currently on the Tourist Visa. My extensions have taken no longer than 20 minutes (usually 5-10m) to process in Olongapo. You also can stay in country up to 36 months now without having to leave on a Tourist Visa. Make sure that you have a follow on ticket or the Airline in Canada is not going to let you board. I recommend buying a round trip with changeable departure date, that way it can be used for an emergency or should your move over here not work out. Also, once you are here, you can get a 6 month visa extension from Manila, Cebu or Davao Immigration offices. I haven't heard of any others offering it yet but I am sure that it is just a matter of time. I would not bother with the 59 day visa from Canada. Just come over and get the 30 day stamp on arrival (free) and then extend once you have settled down.

One advantage that the SRRV provides is that there is no requirement of getting an Exit Country Clearance (ECC) certificate from the Immigrations office (this has to be done within a week of departure if you have stayed over 6 months on a Tourist Visa).

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Old 27th June 2014, 02:35 PM
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Quote:
Originally Posted by Manitoba View Post
I am a little confused as to the benefits of a SRRV type of visa over simply getting visa extensions on a tourist visa.

A SRRV requires $ 1 400 in application fees and $360 a year plus an investment of, for me, $20 000 (less if I had a pension income) with what looks like a complicated application process.

On the other hand getting visa extensions is a couple hours every two months with annual fees of around $550. All indications are that getting extensions outside of Manila is relatively easy and usually hassle free at least after the first one.

Visa extensions require leaving every 16 months or so but I would intend to return home once in a while and to travel in the region anyway so that is not an issue for me.

It would take 7 years to pay back the cost of the SRRV application fee and the $20 000 would be tied up in the Philippines where I may have trouble extracting it should I have to leave (especially if in a long term rental or condo purchase).

I also looked at getting longer term tourist visas before I left Canada but I can only get a visa good for a 59 day stay (but can start the 59 days anywhere up to a year) however from where I live in Canaa getting the visa would be a hassle.

Am I missing something here in my comparison of the two types of visas? Are there some advantages or disadvantages that I am missing?
As stated by another poster, you can use your SRRV deposit for a condo or other approved investments. You can withdraw your money if you decide to leave the program. I will probably use mine for a condo since I want to purchase one anyway.

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Old 27th June 2014, 03:05 PM
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Quote:
Originally Posted by bbazor View Post
As stated by another poster, you can use your SRRV deposit for a condo or other approved investments. ......
I was aware of the conversion potential. Just not sure at this point if I want to month to month rent, long term rent or buy a condo.


I wil most likely spend my first year spending a month or two at different places until I find a place where I want to settle down.

Not too in love with the idea of having assets in the PI that are not liquid so will most likely go for monthly rentals or annual leases anyway.

Mb

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Old 27th June 2014, 06:39 PM
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Originally Posted by Manitoba View Post

Visa extensions require leaving every 16 months or so but I would intend to return home once in a while and to travel in the region anyway so that is not an issue for me.
Actually, you can do the visa extensions until you reach 36 months in country and then you must exit/re-enter.

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Old 28th June 2014, 03:56 AM
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Re SSRV deposit. If you have already purchased a condo or paid for long term lease, would you be able to use this in lieu of cash deposit if you decide to apply for the SSRV?
Applying for SSRV is simpler than applying for a 13a visa? What has been your experience?

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Old 1st July 2014, 10:56 AM
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Quote:
Originally Posted by esv1226 View Post
Re SSRV deposit. If you have already purchased a condo or paid for long term lease, would you be able to use this in lieu of cash deposit if you decide to apply for the SSRV?
Applying for SSRV is simpler than applying for a 13a visa? What has been your experience?
The 13A visa might take a month to get all the documents together, then you have a 1 year probation period, where you still need to get the visa extensions....then after that, "I heard" that the 13A becomes permanent.....but someone told me it needs renewal from time to time.

Don't know how long the SRRV process takes, but I'm going the 6 month Visa extensions......P8500 for each one...total approx. P17000....or $386.00 yearly.

For me, tying up $10,000.00-$20,000.00 in a Time Deposit, then paying $360.00 yearly ............... doesn't make sense.....at least not at this time.

I'm building a house on farmland in southern Cebu, so a Condo is also out of the question for me.
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Old 18th July 2014, 11:38 PM
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I just extended my tourist visa again, just went past 6 months here at Subic. Here in Olongapo they now go to 24 total months, but said I could go to Manila and get extended out to 36 months before having to leave. Hopefully they will be at 36 months by the time I get there.
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