SRRV VS 36 Month Tourist Visa Extension

I am with you Scott.  I simply extend my tourist visa.

The only thing we may risk is some change in government policy around tourist visa, but the chance of that is slim.

Just a thought ,how do you open a bank account with a tourist visa  ?

scouser59 wrote:

Just a thought ,how do you open a bank account with a tourist visa  ?

Hi scouser, welcome to the forum. Yes a good question and plenty of frustration/trials and tribulations are talked about regarding this issue. Some have no problem at all while others like myself went to 3 BDO branches in Manila before the 4th finally opened 2 accounts even though I had an ACR card, a 12 month lease on a condo, power bill, passport etc. that was 6 or 7 years ago so things may have changed,,,,,,,,, and pigs might fly. It is all up to the individual bank and their policies (most are franchised)
Definitely would be easier on an SRRV.

Cheers, Steve.

If you have spent time in the military and have discharge documentation you may qualify for a $1500 deposit for the SRRV. The deposit money can also be used toward the purchase of a condominium of at least 50k U.S. in value.  Details can be found on their website.

The advantage of an SRRV for those who can afford it are no exit clearance required, no ACR-I card required. You are prioritized at the airport in the diplomatic lines and you will never again need to visit with the Bureau of Immigration.  The PRA (Philippine retirement authority) reps can also assist you in opening a bank account and obtaining your drivers license, both of which can be a hassle for someone here on a tourist visa and single.

If you're married to a Filipina you can simply apply for a 13A permanent resident visa.  One year probation (if applied for in the RP) and after about 10 months of being a good boy you reapply and receive the permanent 13A visa.  You then visit you local BI office and the first of the year and make your report (quick and easy) and you're good for another year. ACR cards are still required.

Bottom line. If you are single and can afford it, the SRRV is a hassle free

Scouser59

A single friend on a tourist visa just opened a bank account at a new BDO branch, other established branches ( with a good customer base apparently) turned him down.  The new branch was fishing for customers and welcomed him.

Try a recently opened bank branch.

scott1953 wrote:

Can any expat  explain to me what are the advantages of getting an SRRV verses just extending my tourist visa up to 36 months and leaving the country only to return the next day if i choose? I just returned  to the Phil. from   an 11 day vacation in Guam after leaving the country because of the 36 month requirement to leave. All told, i spent about 1,500 USD's  on my trip and had a great time. The funds i used for the trip came from interest from  my  US  dollar time deposit savings accounts  at a number of different Phil. banks paying 2% interest over the past 36 months netting me a bit over 1,500 USD's. Now to the SRRV. It's my understanding  i need to hand over 10,000 USD's to a Phil. government agency that i receive 0 interest on and can not touch except to buy a condo over 50,000 USD's,   an application fee of about 1,500 USD's, Pay a yearly renewal fee of about 360.00 USD's and get a clean bill of health from a Phil. Doc. Plus any other  expenses and time qualifying for an SRRV.   I figure i spend on average about 1,500 php's per month to renew my tourist visa  up to the 36 month limit. But no other out of pocket expenses. So what are any advantages of applying for an SRRV?  I also believe it will not be an easy task trying to get your 10,000 USD's back from the Phil. government if you decide to go back to your country and leave the SRRV program. I would appreciate any feed back.

Hey Scott, hope all is well since we chatted last.
I hear what you are saying and probably like you have agonised over which way to go for years,,,,,, us Aussies can be slow movers, lol.

There are plenty of advantages as outlined on the PRA website, ability to work/run a business, TFN etc. If you're in and out of the country often as I will be there are no departure taxes within the 12 month limit. I can open bank accounts, get a local drivers license though others seem to achieve this on a tourist visa. A big advantage for me is not having to extend my visa all the time as I had to do when living in Manila, (Standing in a line/s for sometimes 2 hours, this window, that window)  just the annual fee.
The down side for me: I am too young for a government pension (60 in July, pension age in Oz for me is 67) so no chance to avail the US 10k SRRV and honestly I have no chance to ever see a dime from my government after paying tax for almost 45 years. "still paying"

Self funded, I don't need to draw on my super, better to leave it grow so for me I have to lock up US 20k, about AU 28K now or go down the tourist visa path for 3 or 4 years until I decide to draw on my super and then it's only half the money locked up. Still trying to decide. As for getting your deposit back from what I have read can take 6 to 12 months even in the event of death and clearing that to the estate.

For me I am going to start on the tourist route as we are now in La Union so I want to firstly see if they can grant me a 6 month visa (so only twice a year) and if not I have to seriously consider the non pension SRRV. As for returns on that lost money I do believe there is, given what other members have said over the years but only like 1%. Time will tell, keep us posted Scott and hope others chime in and correct me if I missed something.

Cheers, Steve.

Thanks for the info guys , ya bank account is key .

For me I don't have a bank account here and found that I don't need one.  I simply use World Remit to transfer funds from my Australian bank account to the Philippines, and then collect the cash.  My money in Australia receives better interest than here in the Philippines and the money in the Australian bank accounts (up to a limit either $100k or $500k I forget which) is under written by the Australian government.  Over all the banking system in Australia is more secure and more secure than the Philippine banks.


As for credit cards I still use my Australian one when I need it for flights and other expensive on line purchases or us cash when making an over the counter purchase.

TeeJay4103 wrote:

If you have spent time in the military and have discharge documentation you may qualify for a $1500 deposit for the SRRV. The deposit money can also be used toward the purchase of a condominium of at least 50k U.S. in value.  Details can be found on their website.

The advantage of an SRRV for those who can afford it are no exit clearance required, no ACR-I card required. You are prioritized at the airport in the diplomatic lines and you will never again need to visit with the Bureau of Immigration.  The PRA (Philippine retirement authority) reps can also assist you in opening a bank account and obtaining your drivers license, both of which can be a hassle for someone here on a tourist visa and single.

If you're married to a Filipina you can simply apply for a 13A permanent resident visa.  One year probation (if applied for in the RP) and after about 10 months of being a good boy you reapply and receive the permanent 13A visa.  You then visit you local BI office and the first of the year and make your report (quick and easy) and you're good for another year. ACR cards are still required.

Bottom line. If you are single and can afford it, the SRRV is a hassle free

You make some good points TJ. But being non military takes you back to the 10K  US dollar deposit requirement. I lease a 3 year old condo  and from what i see of the shoddy construction, i would never buy a condo here. They also seem overpriced for what you get. Exit clearance was only 500 php's. My other big concern is how easily you can be removed from this country. I have read a number of stories how just 1 complaint from a disgruntled x gf to BI can get you deported from the country. Or if you offend any Filipino verbally. I also believe it would take forever to get your 10K  US dollar deposit back from the PRA.

bigpearl wrote:

scott1953 wrote:

Can any expat  explain to me what are the advantages of getting an SRRV verses just extending my tourist visa up to 36 months and leaving the country only to return the next day if i choose? I just returned  to the Phil. from   an 11 day vacation in Guam after leaving the country because of the 36 month requirement to leave. All told, i spent about 1,500 USD's  on my trip and had a great time. The funds i used for the trip came from interest from  my  US  dollar time deposit savings accounts  at a number of different Phil. banks paying 2% interest over the past 36 months netting me a bit over 1,500 USD's. Now to the SRRV. It's my understanding  i need to hand over 10,000 USD's to a Phil. government agency that i receive 0 interest on and can not touch except to buy a condo over 50,000 USD's,   an application fee of about 1,500 USD's, Pay a yearly renewal fee of about 360.00 USD's and get a clean bill of health from a Phil. Doc. Plus any other  expenses and time qualifying for an SRRV.   I figure i spend on average about 1,500 php's per month to renew my tourist visa  up to the 36 month limit. But no other out of pocket expenses. So what are any advantages of applying for an SRRV?  I also believe it will not be an easy task trying to get your 10,000 USD's back from the Phil. government if you decide to go back to your country and leave the SRRV program. I would appreciate any feed back.

Hey Scott, hope all is well since we chatted last.
I hear what you are saying and probably like you have agonised over which way to go for years,,,,,, us Aussies can be slow movers, lol.

There are plenty of advantages as outlined on the PRA website, ability to work/run a business, TFN etc. If you're in and out of the country often as I will be there are no departure taxes within the 12 month limit. I can open bank accounts, get a local drivers license though others seem to achieve this on a tourist visa. A big advantage for me is not having to extend my visa all the time as I had to do when living in Manila, (Standing in a line/s for sometimes 2 hours, this window, that window)  just the annual fee.
The down side for me: I am too young for a government pension (60 in July, pension age in Oz for me is 67) so no chance to avail the US 10k SRRV and honestly I have no chance to ever see a dime from my government after paying tax for almost 45 years. "still paying"

Self funded, I don't need to draw on my super, better to leave it grow so for me I have to lock up US 20k, about AU 28K now or go down the tourist visa path for 3 or 4 years until I decide to draw on my super and then it's only half the money locked up. Still trying to decide. As for getting your deposit back from what I have read can take 6 to 12 months even in the event of death and clearing that to the estate.

For me I am going to start on the tourist route as we are now in La Union so I want to firstly see if they can grant me a 6 month visa (so only twice a year) and if not I have to seriously consider the non pension SRRV. As for returns on that lost money I do believe there is, given what other members have said over the years but only like 1%. Time will tell, keep us posted Scott and hope others chime in and correct me if I missed something.

Cheers, Steve.

Hello Steve, good to know you are alive and well. You make some valid points. I have no problem getting a 6 month tourist visa renewal and the wait time is no more than 15- to 20 min. But CDO is not Manila. I am still not convinced an SRRV would be beneficial for me, but to each their own. I keep my 2 suitcases at the ready. Like i mentioned to TJ, expats can be deported so easily. A complaint from an x gf or any insult to a Filipino reported to BI  or not being  100% respectful to a BI officer can get you deported . Their is a good  online expat magazine called  Philippines Lifestyle News. Lots of stories about expats good and bad. Happy trails up in La Union and keep safe.

Scott 1953

Your comment:
"You make some good points TJ. But being non military takes you back to the 10K  US dollar deposit requirement. I lease a 3 year old condo  and from what i see of the shoddy construction, i would never buy a condo here. They also seem overpriced for what you get. Exit clearance was only 500 php's. My other big concern is how easily you can be removed from this country. I have read a number of stories how just 1 complaint from a disgruntled x gf to BI can get you deported from the country. Or if you offend any Filipino verbally. I also believe it would take forever to get your 10K  US dollar deposit back from the PRA."

I have been living in the RP with my wife and have the Balikbayan privilege stamp in my passport. Good for a year and no forwarding ticket or ACR required.   I am no longer as excited to leave the country once a year to renew the stamp (yes I know that is not how it's supposed to work, but it does) and I am using my military discharge DD214 from the U.S. to apply for the SRRV visa.  $1500 dollar deposit, $1400 dollar PRA fee and $10 a year renewal.  For me it works, as the once a year trip out of the RP for a vacation usually runs us about $1100 dollars or so as I am not a fan of a quick overnight trip just to renew the BB stamp in my passport.  So for us the SRRV will be paid for in about 3 years and our trips will then be short and inexpensive local trips to the beach, etc.

I have a Canadian acquaintance who has been here over 10 years on a tourist visa, he is unmarried and it works for him.  A trip out of the country every 3 years and start again.  He says that may change if he marries, but for now it allows him to leave quickly if he sours on life here.

I understand that my stay in the RP depends on political whim to a degree and maybe jealousy or spite on behalf of an upset Filipino looking for revenge for some imagined wrong or maybe some quick cash, it's possible, though I do not dwell on it.  We keep to ourselves and live in a quiet area with some older friends, both expat and Filipino including the barangay captains ( current and ex), a couple of PNP officers and a family member or two in some well placed political offices in Manila.  I do have an exit plan and understand quite clearly that my home is my wife's and the SRRV money will no doubt never be seen again by me, though my wife can pay the taxes on the deposit and it will be released to her upon my passing.

I guess it all boils down to personal preference, our view of the RP and finances to a degree.

P.S. We built a small home here (for my wife...lol) and had no interest in a condo. I agree that their construction and maintenance are iffy at best for most I have seen.

Magandan umaga, ( at least I've learnt that ! ), look am interested re your staying in Philippnes re the 36 month plan, I realize you need to leave the country within 12 months to continue with that plan, I would like to know do I contact immigration when I arrive and arrange that plan ? as I  understand you pay 1500 pesos a month ? I would appreciate any info re that plan, I will probably get a two month tourist visa before I arrive ( prob in July), and as I understand the 36 month plan is just for a tourist visa ? no work alllowed ? I have been to Philippnes 3 times over last 4 years and don't want to spend 7k pesos for a months extension as I have done in the past, salamat !  eric

I had a SRRV for 9 years, and it worked out well if you go to at helpful manager at the right bank that holds your deposit. I ran my SRRV through Commerce Bank, and had few head-aches even when renewal came around.
The main PRA office is in Makati, and it's possibly still best to apply there as they are on top of everything, and are much straighter than the regular BI office where anything can happen upon repeated renewals. As well, the PRA renewal comes up every 2-3 years - policy can change without notice - and so you are good for about 3000 pesos across that time duration.
Hope this helps.
Bruce

ericcoyle wrote:

Magandan umaga, ( at least I've learnt that ! ), look am interested re your staying in Philippnes re the 36 month plan, I realize you need to leave the country within 12 months to continue with that plan, I would like to know do I contact immigration when I arrive and arrange that plan ? as I  understand you pay 1500 pesos a month ? I would appreciate any info re that plan, I will probably get a two month tourist visa before I arrive ( prob in July), and as I understand the 36 month plan is just for a tourist visa ? no work alllowed ? I have been to Philippnes 3 times over last 4 years and don't want to spend 7k pesos for a months extension as I have done in the past, salamat !  eric

+++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++++

9a Tourist visa:

You can apply at the Philippine consulate for a single entry 59 day tourist visa in person or by mail, check with the PI consulate in your area. If a consulate is inconvenient, you can simply enter the Philippines as a tourist for an initial stay of 30 days.

Your passport should be up to date with at least six months remaining before a renewal is required. Blank pages in the passport and a forwarding or return air ticket to your return destination.

https://consular.dfa.gov.ph/visainformation

Onward tickets:
An onward ticket is required and can either be a cheap throwaway to somewhere like Hong Kong or Kuala Lampur or a refundable ticket, it's up to you.  The tickets date should be at least 30 days out from your arrival. 

About 5 days prior to the expiration of your initial 30 day tourist visa you can extend it for an additional 29 days at the main BI office or extension offices. After that you can extend for an additional two to six months and you will be required to apply for an ACR-I identification card at the same office at which you are applying for your visa extension, a simple procedure. Currently you can continue to extend your tourist visa up to three years after which you will have to leave the country and start over again.

An alternative if you plan on having a long term business would be a permanent resident 13a visa which you can avail yourself of if you are married to a Filipina who is a Philippine citizen. 
Second would be an SRRV Special Resident Retirees Visa which does not require marriage but does require a hefty bank deposit depending on your age,  the exception being those with a military background and discharge papers showing an honorable discharge,  the deposit then becomes 1500 U.S. dollars.

SRRV link: https://pra.gov.ph/

Bureau of Immigration site:  http://immigration.gov.ph/

DO NOT overstay your visa,

If you are a veterans it's  $1500 in the bank and $1400 for the paperwork. You have to your DD214, proof of income,  and a background  check your local police department. Renewal is $10 per year up to 3 years which is $30.

So if you are ex military all you need is $1500. Is that all, no more money to dish out?

SRRV expanded courtesy and courtesy visa requires a time deposit of $1500 U.S. and a PRA (Philippines Retirement Authority) fee of $1400.  These are one time only fees.  I used my DD214.

Renewal is $10 U.S. per year and can be done 3 years at a time for $30 dollars.

Total = $2,930 U.S. , not including incidental fees like transportation to their offices, etc.

I am in Dumaguete, the visa extension takes a week. There is no point in paying the express lane fee and they give you that option...It's a decent saving

I recall reading that the rules for the ex-military only applies to officers and requires a pension. Did that change?

Tim_L wrote:

I recall reading that the rules for the ex-military only applies to officers and requires a pension. Did that change?

I was not an officer and neither are a couple others I know who have an SRRV.  Proof of pension documents were required.

Interesting because it clearly states officer.

Tim_L wrote:

Interesting because it clearly states officer.

Seems it's in the interpretation of the word.

Much like everything here. Hahaha

Munchie wrote:

I am in Dumaguete, the visa extension takes a week. There is no point in paying the express lane fee and they give you that option...It's a decent saving

.............Hi Munchie, Just did a 2 month visa extension and ACR card renewal. I was charged 500 express lane fee (I card processing) , 500 express lane fee, 500 express lane fee (certification) for a total of 1,500 just for "express lane fees". On top of that, i paid 5,787.50 for all the garbage fees to renew my ACR and for a 2 month tourist visa extension. Paid a total of 7,287.50 . BI seems to be ramming up the fees for expats to stay here.