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Rocketman

Here is the latest from the PRA:

I understood the Visa program was changing a few months ago and wonder if the program has been finalized. Can you give me an update to the program please? The new program is still on hold and awaiting for the publication of the implementing rules and regulations and may still take more or less a month for the implementation. Anyway, the PRA Board decided to retain the existing program once the SMILE Scheme is implemented but subject to a US$360 yearly fee whether the deposit is invested or not. So you still have the option to enrol under the With Pension option with a required deposit of only US$10,000.

We'll see what the final decision is soon!

 

Scott

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A couple of months ago I checked in for my flight with Korean Air in Vancouver and they asked how long i would be in the Phil. I said " forever" . It caused a few minutes problem until I showed them

As I am unfamiliar with Australian tax law i can not comment on whether or not what you say is in fact correct. But I have done very extensive research in the matter of the determination of residency

enoonmai

Could you cite your source, please. Thanks.

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Rocketman

Could you cite your source, please. Thanks.

 

 

Sorry:

Annalyn A. Eria

Officer-In-Charge

Processing Division

Resident Retiree Servicing Center

Email :[email protected]

 

She has been very helpful and answered all of my questions within a day! Great service!!! She's located in Manila.

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The SRRV office in Cebu told me that "clients" currently holding the SRRV visa,

 

will not be affected by the new SMILE visa requirements.

 

 

.

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  • 3 months later...
stagger

I just paid P1,296.30 ($30.00) for the renewal of my SRRV Card for a three year period.

 

Took me 5 minutes in the PRA office at the Waterfront Hotel.

 

You have to fill in a form, surrender the old card and pay the fee ($10.00 per year up to a period of three years).

You will get a receipt from them which you can use as proof of having the SRRV Visa, in case you are asked.

 

The new card will be ready for pick up after 5 working days.

 

I just checked the PRA Website and it now seems as of May 5th 2001, they are offering 4 different types of SRRV Visa.

 

You can check here.

 

http://www.pra.gov.ph/main/srrv_program?page=1

 

I am not sure if this update is written in stone as they are some big changes in there since I joined up lat year!

 

A friend in Thailand just let me know they are changing the retirement Visa rules over there again, it would be a toss up as to who the bigger flatheads are between here and there when it comes to luring people with money, either as Tourists or Retirees, to come and spend it in their countries.

 

Happy Days...............................................................................for the next three years anyway!

 

biggrin_01.gif

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InternetTough

Just out of curiosity---if you pick the first option, and just give the government $20,000 to hold until the SRRV Visa is cancelled, does anyone think that the government would promptly pay back the $20,000 in full? That has me wondering. I also wonder about the SRRV Classic option---would the government be prompt in giving back the money if I wanted to buy a house? (I know that it would have to be at least a $50,000 house or condo).

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Davolives

First- I wish to convert my SRRV from a bank deposit to buying a condo. I have $20,000 usd on deposit. I understand that the minimum purchase will soon be increased to $50,000 so i want to buy the condo right away before the increase goes into affect. I assume I can do so ?? Answer: Your deposit which is in the bank right now may be used for buying a condo unit. Please be advised that the said unit must be already on a "ready for occupancy" status and not a pre-selling one. It is not true that the deposit will increase. The new SRRV Options which was implemented starting last May 5 will not affect retirees who joined prior to the May 5 implementation - and this include you since you joined last August 19, 2009. You will not be affected with the new fees and obligations for the new SRRV Options. However, please be advised that if you will use your deposit for purchase of a condo unit, you will be required to pay the Visitorial Fee of US$500 yearly. Since you plan to become our Marketer, i suggest that you go thru our website to compare the new SRRV Options at www.pra.gov.ph.

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  • 1 month later...

Just out of curiosity---if you pick the first option, and just give the government $20,000 to hold until the SRRV Visa is cancelled, does anyone think that the government would promptly pay back the $20,000 in full?

 

I'm no expert, but one has to give at least 30 days advanced notice so PRA can begin to prepare the return.

 

A Bank Book is given to the individual from the bank he used for the deposit and he can monitor the interest. (It's not much)

 

I know someone who did give up his SRRV because he said he could get a better return on a CD in a US Bank. The money was returned without any trouble. He's back to the BI "DRAG" every 60 days.

 

I can recommend a good bank and their respective agents if any one is interested in getting the SRRV. I do have 1st hand experience with these gentlemen.

 

With the new payment system of $360.00/yr there are still some good reasons to get the SRRV. One is to work legally.

 

Another is to avoid the 60 BI Drag. By Drag I mean drag your butt to BI every 60 days. Sea Bag Drag for Military Types..

 

How much does 1-year of extensions come to? Is it more or less than $360?

 

The third is you won't have to leave the Philippines every 16 months to get a new stamp and start all over again.

 

One more is when you're at the airport returning to the Phils you won't have to buy a TIGER AIR Ticket to Singapore (or any other airlines/destination) to show Immigration you have a ticket out of the Philippines.

 

Would anyone have more reasons?

 

JM

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Davolives

I applied to the PRA in Manila and became a SRRV Marketer. Means I get $500 usd for every person I get to sign up !! lol One of you guys in Cebu should look into that.

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stagger

Lots of Agents in Cebu already, check the PRA Website, quite a few in Davao also, be interested to see how many you sign up in 1 year!

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Davolives

Lots of Agents in Cebu already, check the PRA Website, quite a few in Davao also, be interested to see how many you sign up in 1 year!

 

Since i only did it for a lark my expectation is zero !! Besides i'm way too busy with my business to hustle business for PRA

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enoonmai

I believe the SRRV Classic is still available ie, $10,000 deposit for over 50 with pension. I have no problem with the $360 annual fee but feel the $1400 "application fee" is excessive so I'll pass. I don't see any real advantages to the present scheme other then not having to renew every 59 days.

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I applied to the PRA in Manila and became a SRRV Marketer. Means I get $500 usd for every person I get to sign up !! lol One of you guys in Cebu should look into that.

 

 

WAIT!! You mean the guy who does all the paperwork and takes you to the NBI and for the physical or is it just someone who introduces someone to the PRA and then they sign up??

 

THNX

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Davolives

WAIT!! You mean the guy who does all the paperwork and takes you to the NBI and for the physical or is it just someone who introduces someone to the PRA and then they sign up??

 

THNX

 

 

My understanding from the PRA [ and believe me its hard to get a straight answer about things ! lol] is that I just get them to sign the application form and take them to the PRA office. When i got mine no one took me anywhere [ altho they did tell me the address of the NBI and of the medical office]

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My understanding from the PRA [ and believe me its hard to get a straight answer about things ! lol] is that I just get them to sign the application form and take them to the PRA office. When i got mine no one took me anywhere [ altho they did tell me the address of the NBI and of the medical office]

 

Thank you.

 

The bank introduced me to the agent. He did all the necessary paperwork and whisked me thru NBI. So, I guess he got the $$. Where does that $500.00 come out of? Hmmm

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