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Update on the SRRV available to U.S. military members/Vets married or not


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NOSOCALPINOY

Seems I was paying 2830p every 60 days for a tourist visa extension. The ACR card was like you said, about $50 once a year plus the 500p for the non existent "express lane", so roughly 20.5k per year. A "special" retirement visa will cost a single guy right at 16k per year according to your numbers plus the "one time $2900 fee". Add to that the $1500 or whatever it is you must keep on deposit. So yeah, for a single guy a regular tourist visa is about about $100 per year more than the special Peenoy deal. Of course the married guy would fare better.

So to recap, a single guy would have to fork over $4400 ($1500 I assume he could get back after jumping through some hoops) to save $100 per year. If you were to change your mind and leave say after a couple of years then you'd lose all the way around. I did the math on this before I came here.

The only "deal" is a Balikbayan stamp and as you know there is no $2900 fee to set up and not even a $10 yearly "fee". Just leave the country once a year with your wife which I do anyway.

I don't know where you came up with the P16,000 a month cost for a SRRV. The way I look at it, a single guy under this SRRV, in theory, would only be spending $360 a year the most for his annual report via the PRA, if not the $10 annual report, which the $360 only equals to P1,320 a month. The application fee of $1,400 (nonrefundable) and the $1,500 security deposit is just a one time payment and isn't a huge monthly factor and not included into the monthly cost equation for as long he/his lives in the Philippines indefinite.  

I know a friend of mine who has this type of SRRV and only spends $10 a year for his annual report and his SRRV is indefinite. There's no P16,000 a month cost for his SRRV. His $1,500 deposit only sits in the bank collecting minimal interest.

$1,500 is a small price to pay for being able to live in the Philippines indefinite and never have to deal with immigration while staying in country. 

I'm all tired out of doing the Balikbayan thing every year and want to stay put in one place. So, for the past 10 yrs, I've been doing the 24 months visa extensions after my BB stamp has expired. So now I only have to leave the country once every 3 years, which is fine by me until I get my SRRV for $1,500 plus the $1,400 nonrefundable application fee, which isn't a big chuck of change to stay in the Philippines indefinite.  

Edited by NOSOCALPINOY
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I'm for sure qualified, because I did 4 yrs of bar hopping in Angeles City and Subic, Olongapo in the late 60s and survived it all.  So, if I go ahead and get an SRRV, my annual report will only cost

I think its a great idea I wonder why the usa don't do the same make ever person put up cash to live in the us... and if they started charging 100 us if you want to leave the country they can raise a

Yeah, I did some of that barroom duty!    LOL   Thank God those days are over and I lived thru them.       

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Wrye83

Is there an age requirement on this? I believe for the regular SRRV there is a 35 year old minimum age to apply. I'm single and I plan on staying that way. I have the cash to do the SRRV but I am under the 35 posted age requirement. 

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NOSOCALPINOY

The SRRV for US. retired military and Vets not retired, is 50 yrs of age and above.

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Wrye83

 

 

The SRRV for US. retired military and Vets not retired, is 50 yrs of age and above.

 

Bummer. Guess I'll keep my fingers crossed for that quota visa.  :killself:

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ex231

 

 

I don't know where you came up with the P16,000 a month cost for a SRRV. The way I look at it, a single guy under this SRRV, in theory, would only be spending $360 a year the most for his annual report via the PRA, if not the $10 annual report, which the $360 only equals to P1,320 a month. And a tourist extension was costing me 1415p per month The application fee of $1,400 (nonrefundable) and the $1,500 security deposit is just a one time payment and isn't a huge monthly factor and not included into the monthly cost equation for as long he/his lives in the Philippines indefinite.  

 

 

Seems I was paying 2830p every 60 days for a tourist visa extension. The ACR card was like you said, about $50 once a year plus the 500p for the non existent "express lane", so roughly 20.5k per year . A "special" retirement visa will cost a single guy right at 16k per year according to your numbers  plus the "one time $2900 fee". Add to that the $1500 or whatever it is you must keep on deposit. So yeah, for a single guy a regular tourist visa is about about $100 per year more than the special Peenoy deal. Of course the married guy would fare better.

So to recap, a single guy would have to fork over $4400 ($1500 I assume he could get back after jumping through some hoops) to save $100 per year. If you were to change your mind and leave say after a couple of years then you'd lose all the way around. I did the math on this before I came here.

The only "deal" is a Balikbayan stamp and as you know there is no $2900 fee to set up and not even a $10 yearly "fee". Just leave the country once a year with your wife which I do anyway.

 

Of course a married guy would benefit more that a single guy. A single guy would save a few bucks if he was here for the long haul but only if he dished out $1400 up front that he'd never see again. So if a single guy was saving $100 per year by having a SRRV, how many years would it take to break even on his $1400 initial outlay?

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NOSOCALPINOY

Of course a married guy would benefit more that a single guy. A single guy would save a few bucks if he was here for the long haul but only if he dished out $1400 up front that he'd never see again. So if a single guy was saving $100 per year by having a SRRV, how many years would it take to break even on his $1400 initial outlay?

The point was, a one time payment of $2,900 including the annual report whether if one is single or married gets to stay in the Philippines indefinite if one so choose to do so for whatever his/her reason(s).

Is $2,900 for this SRRV such a huge chunk of change for 10 to 20 yrs or even a lifetime worth it?

What's the cost of tourist visa extensions in the next 10 to 20 years vs this SRRV?  

Your comment on the cost of a one month tourist visa is P1,415 a month. In 10 yrs that equals to P169,800 ($3,859) and doesn't even include your airfare and lodging.

If anyone is not interested in staying in the Philippines indefinite, any type of a permanent resident visa is not for them! 

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SkyMan

 

 

"one time $2900 fee". Add to that the $1500 or whatever it is you must keep on deposit
The $2900 includes the $1500 deposit.
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ex231

The point was, a one time payment of $2,900 including the annual report whether if one is single or married gets to stay in the Philippines indefinite if one so choose to do so for whatever his/her reason(s).

Is $2,900 for this SRRV such a huge chunk of change for 10 to 20 yrs or even a lifetime worth it?

What's the cost of tourist visa extensions in the next 10 to 20 years vs this SRRV?  

Your comment on the cost of a one month tourist visa is P1,415 a month. In 10 yrs that equals to P169,800 ($3,859) and doesn't even include your airfare and lodging.

If anyone is not interested in staying in the Philippines indefinite, any type of a permanent resident visa is not for them! 

 

Right .. and with the SRRV the cost @ $360 per year for 10 years would be $3600 or p159,120 (@44.2) .. now add the $1400 fee, p61,880 and the total is p221,000  .. and that doesn't include Tanduay or cheap hookers.

 

The $2900 includes the $1500 deposit.

 

I noticed that after I started my rant lol .. but still it would take probably 10 years plus to even break even vs the tourist visa. Then I imagine the Peenoy banks would tie you in knots if you ever wanted to get your deposit back .. hell, they do that anytime when I'm trying to withdraw money lol

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NOSOCALPINOY

Right .. and with the SRRV the cost @ $360 per year for 10 years would be $3600 or p159,120 (@44.2) .. now add the $1400 fee, p61,880 and the total is p221,000  .. and that doesn't include Tanduay or cheap hookers.

I noticed that after I started my rant lol .. but still it would take probably 10 years plus to even break even vs the tourist visa. Then I imagine the Peenoy banks would tie you in knots if you ever wanted to get your deposit back .. hell, they do that anytime when I'm trying to withdraw money lol

I didn't take your post as ranting, just your calculations did not add up! My math is pretty weak, but my opinion and calculations still stands.

Besides, the $2,900 one time payment and deposit is not just 10 to 20 yrs, but for a lifetime! Those military members who have served in the Philippines at least 2 yrs, their annual report fee is only $10 a year. So, IMHO, $2,900 is a small price to pay for an indefinite stay in Philippines. There's no monthly recurring cost with this SRRV or even those with 13a visas.  

I'm all worn out doing the tourist thing during our young adult lives and while we're now in our golden years, We just want to relax, kick back and enjoy the rest of our retirement years, I'm now 66 and my wife is a young 50 yr old. We'll still take vacations now and then while we are still able to travel! Actually, we are still on vacation here in the U.S. since Feb and we're anxious to return to our home in the Philippines.

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Nangulo

The SRRV for US. retired military and Vets not retired, is 50 yrs of age and above.

 

There are several variants of the SRRV.  The one for former military members (not just US) is 50 and better, yes.  The SRRV Classic accepts people 35 years and older.  They just need to deposit a larger sum of money.

 

http://www.pra.gov.ph/

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NOSOCALPINOY

There are several variants of the SRRV.  The one for former military members (not just US) is 50 and better, yes.  The SRRV Classic accepts people 35 years and older.  They just need to deposit a larger sum of money.

 

http://www.pra.gov.ph/

This topic is what's known as the new "EXPANDED SRRV" for the US military member. Anything else is just the usual SRRV benefits from the PRA that's been on their website from the get go when the original SRRV was introduced and implemented.   

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Wrye83

The savings was not my reason for being interested in the visa. I despise having to go to immigration every 2 months. 

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NOSOCALPINOY

I would interested to hear how this turns out. I spent 3 plus years at Subic but did not retire from the Navy. I was not aware there was such a program.

My OP was exactly that from a guy who did his SRRV at the Makati Office. Since you have spent 3 yrs at Subic, your annual report then should only be $10 a year and you will never have to set foot in a BI field office ever again unless it's for something else not related to your SRRV.

A 13a visa maybe cheaper, but you have to deal with the main and local BI office to process your 13a visa and annual report and renew your ACR I-Card after 5 yrs. I don't know if 13a visas have an expiration date. SRRVs are indefinite.

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Davaoeno

 

 

SRRVs are indefinite.

 

yes they are.  You do however have to attend at the PRA office every year to get a new card [ altho a 3 year option is available ]

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aussiekangaroo

It is also much easier to deal with the banks and get condo loans etc with an SRRV then it is with a tourist visa so the SRRV visa is well worth it. This is what I have been informed by BDO but I will still need to wait a few years before I am eligible.

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