The
Special S----- Retirement Visa SSRV, Pros and
Cons, Invest or Not in the SSRV
Some thoughts from someone who won't be
availing of the SRRV ... as
the spouse of a Filipino citizen I will have a
permanent residence
visa. Were I single, I would personally not
use the SRRV.
That said, some advantages/disadvantages as I
see them:
Advantage:
SRRV will remove the requirement for an annual
trip out of the Philippines just to fulfill the
requirement of a tourist visa to leave once a
year. You can do much more with your deposit
than leave it sit in the bank examples, buy
yourself a condo, invest in Philippine
tax-free
treasury bonds (not totally clear on this but
know of those who say it's possible from
experience).
Dis-advantage:
Regardless of your personal
wealth, why tie up that much liquid assets
under some else's control? $50K in the stock
market, for example, if that's your area of
expertise, could easily produce a lot more.
There are annual fees, paperwork and political
battles involved with the SRRV that certainly
equal the "hassle" involved with renewing
tourist visas.
Your figure regarding the annual visa trip may
be accurate but it certainly be accomplished
even cheaper ... round trips from Clark to
Kuala Lumpur for example are available for
under $80USD. It's hard for me to imagine
someone not wanting to go to Hong Kong once a
year for shopping and a change of pace, it's
certainly no big thing to find cheap discount
fares from Manila and cheap accommodations. In
fact, I see no reason you can't leave one
morning on one of several airlines, go through
the immigration wicket at Chep Lap Kok, walk
right back in the departure line and fly back
to manila the same afternoon ... taking in a
good meal and duty free shopping at the
airport. My wife and I plan to travel to HK
regularly, even though there will be no need
for us to do so ... because there is nothing
at all like the HK Night Market or the HK
Flower Market in the Philippines .. as just
one example.
Anyway, doubt there is any totally definitive
answer, especially because it's totally a
personal decision, but hope these meanderings
give you some perspective.
[Dale]
Don Adds:
Though you think not, you will probably get
married anyway. Filipinas are so charming the
most reluctant bachelors, as I was, fall in
love with them. So as a bonus you not only get
the Filipina, but A 13(A)permanent resident
Visa.
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