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tourist visa extension up to 24 months

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TheWhiteKnight

 

:o I did not know that. 

 

I found a list of SRRV benefits, not sure it's worth 20 (or 50) large though, in my situation at least:

  1. Permanent non-immigrant status with multiple-entry privileges through the Special Resident Retiree's Visa;
  2. Exemption from customs duties and taxes for the importation of personal effects;
  3. Exemption from Exit Clearance and Re-entry Permits;
  4. Exemption from payment of travel tax provided the retiree has not stayed in the Philippines for more than one year from date of his last entry into the country;
  5. Conversion of the requisite deposit into active investments, including purchase of condominium unit;
  6. Interest on the foreign currency deposit is tax-free and payable to retiree in Philippine Pesos;
  7. Foreign currency time deposit can be converted into Philippine Pesos deposit, but interest is subject to withholding tax;
  8. Pension, annuities remitted to the Philippines are tax-free; and
  9. Guaranteed repatriation of the requisites deposit including invested profits, capital gains and dividends accrued from investments, upon compliance with Bangko Sentral rules and regulations.

 

 

I don't feel comfortable risking or tying up 50K but I could handle 20K, only #1 and #3 are worth a shit. The high cost of not getting married. Oh well, gotta do what we gotta do.

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NOSOCALPINOY
I was born in the Philippines, but since my Filipino father was a U.S. citizen when I was born I did not qualify for dual citizenship under RA9225. 

So when I retired in 1997 we just used the BB stamp and or tourist visa extensions (6 mo interval extensions good for 24 mos) for 17 yrs until I finally obtained my Special "Expanded SRRVisa" just last yr for ex-military members retired or not. $1,500 security bank deposit, $1,400 application fee and $10 for my annual report and SRRV I.D. Card renewal. (optional once every 3 yrs). My SRRVisa inserted in my U.S. passport is permanent unless I cancel or terminate it. 

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TheWhiteKnight

 

I was born in the Philippines, but since my Filipino father was a U.S. citizen when I was born I did not qualify for dual citizenship under RA9225. 
So when I retired in 1997 we just used the BB stamp and or tourist visa extensions (6 mo interval extensions good for 24 mos) for 17 yrs until I finally obtained my Special "Expanded SRRVisa" just last yr for ex-military members retired or not. $1,500 security bank deposit, $1,400 application fee and $10 for my annual report and SRRV I.D. Card renewal. (optional once every 3 yrs). My SRRVisa inserted in my U.S. passport is permanent unless I cancel or terminate it. 

 

 

My dad almost got stuck in the same situation when going for the dual citizen re-acquisition  but his US father did not recognize him, so he went through the process and got the Certificate of Naturalization instead of the Certificate of US Citizenship which is the problem you had right?

 

Also the law was different back then, he would have had to elect Philippine citizenship and I guess that was proven by his old ass passport, hand written, and his naturalization paper work.

 

I came 10 years after his naturalization though :(. It sucks so bad to be so close to being a citizen by birth.

 

I was born in the Philippines, but since my Filipino father was a U.S. citizen when I was born I did not qualify for dual citizenship under RA9225. 
So when I retired in 1997 we just used the BB stamp and or tourist visa extensions (6 mo interval extensions good for 24 mos) for 17 yrs until I finally obtained my Special "Expanded SRRVisa" just last yr for ex-military members retired or not. $1,500 security bank deposit, $1,400 application fee and $10 for my annual report and SRRV I.D. Card renewal. (optional once every 3 yrs). My SRRVisa inserted in my U.S. passport is permanent unless I cancel or terminate it. 

 

 

PS. SRRV in your situation is a no brainer. $1500 deposit. $10 a year. I wouldn't really call it an annual report either since you don't need to appear and can do it by mail for 3 years at a time.

 

I can't wait to get mine finalized, I wish it was the deal you got though.

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miles-high

I'm actually 25% pinoy, dad is citizen

Well, if that is the case and you are young enough, why not get a dream job and get some sort of a work visa? ;) I have been on a work visa, no restriction getting in and out, no travel tax, diplomatic lane, no return or onward ticket, annual renewal but otherwise indefinite stay, no ECC (unless terminated)… Just a suggestion... :D

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TheWhiteKnight

Well, if that is the case and you are young enough, why not get a dream job and get some sort of a work visa? ;) I have been on a work visa, no restriction getting in and out, no travel tax, diplomatic lane, no return or onward ticket, annual renewal but otherwise indefinite stay, no ECC (unless terminated)… Just a suggestion... :D

 

The problem is, I already have a dream job working from here but IN THE US and I pay no federal or state taxes at all. Just fica and medicare (which I want to pay for anyway, cuz I hope to collect eventually). I'm fairly confident no job in PH would pay me even half of what I'm pulling in the states.

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NOSOCALPINOY

My dad almost got stuck in the same situation when going for the dual citizen re-acquisition  but his US father did not recognize him, so he went through the process and got the Certificate of Naturalization instead of the Certificate of US Citizenship which is the problem you had right?

 

Also the law was different back then, he would have had to elect Philippine citizenship and I guess that was proven by his old ass passport, hand written, and his naturalization paper work.

 

I came 10 years after his naturalization though :(. It sucks so bad to be so close to being a citizen by birth.

 

PS. SRRV in your situation is a no brainer. $1500 deposit. $10 a year. I wouldn't really call it an annual report either since you don't need to appear and can do it by mail for 3 years at a time.

 

I can't wait to get mine finalized, I wish it was the deal you got though.

The problem came to being was due to whomever wrote, passed and implemented the Philippines Constitutional Law of 1935!

What a dumb freakin Law! Doesn't matter though as long as I got my Special "Expanded SRRVisa" which is a good deal alright!  

Doing the BB Stamp and or visa extensions got really old after so many years! Now I can stay put in one place, just kick back and relax. 

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Journeyer

I don't feel comfortable risking or tying up 50K but I could handle 20K

 

It looks like the 20k you'll never get back, but the 50k can be spent on a condo/house. I'm not interested in a condo, and non-citizens can't buy a house, but there is one way an SRRV 50k may possibly make sense for me: If I am interested in buying a house, and I can put it in my kids name and I could use my SRRV 50k for that.

 

Again I feel like I would need to hire an attorney just to find out if that's even possible.

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TheWhiteKnight

It looks like the 20k you'll never get back, but the 50k can be spent on a condo/house. I'm not interested in a condo, and non-citizens can't buy a house, but there is one way an SRRV 50k may possibly make sense for me: If I am interested in buying a house, and I can put it in my kids name and I could use my SRRV 50k for that.

 

Again I feel like I would need to hire an attorney just to find out if that's even possible.

You could also use the 50K on a long term lease of house and lot. I could do that and have my dad lease the house he bought for me with my money but I don't want to pay the taxes on that transaction (especially since I already paid for the house). I was going to do all that but it was too much hassle. Buying a house for your kids would not be acceptable under the plan, they even make you add the SRRV restriction to the actual title of the property for the long term lease.

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TheWhiteKnight

It looks like the 20k you'll never get back, but the 50k can be spent on a condo/house. I'm not interested in a condo, and non-citizens can't buy a house, but there is one way an SRRV 50k may possibly make sense for me: If I am interested in buying a house, and I can put it in my kids name and I could use my SRRV 50k for that.

 

Again I feel like I would need to hire an attorney just to find out if that's even possible.

Let me know if you ever do find a competent immigration lawyer.  Beware of all these SRRV experts aka "marketers" they get paid $500 to submit your app and most of them don't know shit, even quoting old information.

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Journeyer

You could also use the 50K on a long term lease of house and lot. I could do that and have my dad lease the house he bought for me with my money but I don't want to pay the taxes on that transaction (especially since I already paid for the house). I was going to do all that but it was too much hassle.

 

Well that makes things interesting, sounds like you had an ideal solution too. I was reading that "Cebu has issued 1,802 SRRVs, mostly to Chinese, Koreans, and Japanese nationals." I'm thinking one possible reason is their extensive connections in Cebu could allow many to make certain 'arrangements' for leases on paper which would allow them to pocket their 50K (or what's left of it.)

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