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Author Topic: SRRV Halted  (Read 1843 times)

Offline MotorSarge

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SRRV Halted
« on: October 23, 2020, 10:26:38 PM »
Looks like some changes coming to the SRRV program.
MS

Offline Peter

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Re: SRRV Halted
« Reply #1 on: October 24, 2020, 12:31:00 PM »
Looks like some changes coming to the SRRV program.

Some changes? Maybe yes. Halted? Don't think so. Too much, badly needed, foreign currency at stake.

This subject came up in a televised, Senate Inquiry last week, into alleged corruption within the BI. After being informed of the SRRV minimum age qualification of 35 yo., some Senators expressed surprise that anyone could be classed as retired at that age.
The answer was the programme was initially designed to attract Koreans who are allowed to retire from their military service at age 35, with a pension. Subsequently, Chinese nationals have been 'fingered' as using that minimum age as a 'cover' for entering the country and getting up to no-good.

The nice BI spokeslady at the Enquiry (we had a nice conversation with her in Intramuros BI canteen in 20i8 when I renewed my ACR I-card  :) ) stated that the BI is not responsible for the granting of SRRV entry and directed the Enquiry to the PRA.

See < https://tinyurl.com/y2ovr965  > for latest news.

So, unless you are aged between 35 and 50, and are planning to apply for the SRRV, this should not affect anyone here.

Stay safe,

Peter

Noli nothis permittere te terere.
Virtus autem corruptibilis est,
summa virtute prorsus corrumpitur,

Offline bigrod

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Re: SRRV Halted
« Reply #2 on: October 24, 2020, 02:05:37 PM »
Some changes? Maybe yes. Halted? Don't think so. Too much, badly needed, foreign currency at stake.

This subject came up in a televised, Senate Inquiry last week, into alleged corruption within the BI. After being informed of the SRRV minimum age qualification of 35 yo., some Senators expressed surprise that anyone could be classed as retired at that age.
The answer was the programme was initially designed to attract Koreans who are allowed to retire from their military service at age 35, with a pension. Subsequently, Chinese nationals have been 'fingered' as using that minimum age as a 'cover' for entering the country and getting up to no-good.

The nice BI spokeslady at the Enquiry (we had a nice conversation with her in Intramuros BI canteen in 20i8 when I renewed my ACR I-card  :) ) stated that the BI is not responsible for the granting of SRRV entry and directed the Enquiry to the PRA.

See < https://tinyurl.com/y2ovr965  > for latest news.

So, unless you are aged between 35 and 50, and are planning to apply for the SRRV, this should not affect anyone here.

Stay safe,

Peter

The article you referenced stated as of 23 Oct the PRA is not accepting or processing applications until they review/make changes to current policies,. To me that would indicate the program is currently halted until reopened. Nothing printed to date indicates the program will be discontinued but indications are that the age requirements may/probably will be readjusted.  Yes it appears the Senators are unaware the the program falls under the Department of Tourism not the Department of Justice that immigration falls under.  US military can retire at 20 years service so the majority of retirees will be 38 years old or older.  Military medical retirees can of course be younger. Question is what is an appropriate age?

Chuck
Life is  to short not to live it right the first time

Offline Peter

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Re: SRRV Halted
« Reply #3 on: October 25, 2020, 12:45:04 PM »
The article you referenced stated as of 23 Oct the PRA is not accepting or processing applications until they review/make changes to current policies,. To me that would indicate the program is currently halted until reopened. Nothing printed to date indicates the program will be discontinued but indications are that the age requirements may/probably will be readjusted.  Yes it appears the Senators are unaware the the program falls under the Department of Tourism not the Department of Justice that immigration falls under.  US military can retire at 20 years service so the majority of retirees will be 38 years old or older.  Military medical retirees can of course be younger. Question is what is an appropriate age?

Chuck

From the article I referenced, to me it is not halted, it is suspended. I think there may be a slightly different meaning, in English-English, as opposed to American-English.  8) 8) IMHO.

" ......
that the acceptance and processing of applications for new SRRV at the PRA Head office and all satellite offices is suspended beginning 23 October 2020 until further notice, .......


I doubt very much if the entire 35-49 years eligibility age group of SRRV applicants, will be denied, as they are stumping up US$ 50,000 per SRRV. Multiply that by the number of holders and you have a fairly large amount of foreign currency in the Sentral Banko, LOL!
More likely, there could be a "thinning out" of those in that category, starting with all the Chinese nationals the Senators appear to be worried about.

Quite strange that no one in the Senate did their homework re the SRRV, before they started the session. After all it was the Senate/House who approved the Department of Tourism to go down that road.

The Senators also seem to have ignored the part of the SRRV, where it allows the holder to carry out/invest in business, or to be able to take up paid employment. (Or so I have been informed by an American friend who is a SRRV holder.)

Typical case of the left hand not knowing (or remembering) what they told the right hand to do.  :)

Stay safe all.

Peter
"
« Last Edit: October 25, 2020, 12:53:03 PM by Peter »
Noli nothis permittere te terere.
Virtus autem corruptibilis est,
summa virtute prorsus corrumpitur,

Offline bigrod

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Re: SRRV Halted
« Reply #4 on: October 25, 2020, 03:13:10 PM »
From Merriman-Webster Dictionary:

halt verb (2)
halted; halting; halts
Definition of halt (Entry 3 of 4)
intransitive verb

1: to walk or proceed lamely : LIMP
2: to be in a state of uncertainty or doubt between alternate courses or choices : WAVER

Chuck
Life is  to short not to live it right the first time

Offline bigrod

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Re: SRRV Halted
« Reply #5 on: October 25, 2020, 03:34:58 PM »
From the article I referenced, to me it is not halted, it is suspended. I think there may be a slightly different meaning, in English-English, as opposed to American-English.  8) 8) IMHO.

" ......
that the acceptance and processing of applications for new SRRV at the PRA Head office and all satellite offices is suspended beginning 23 October 2020 until further notice, .......


I doubt very much if the entire 35-49 years eligibility age group of SRRV applicants, will be denied, as they are stumping up US$ 50,000 per SRRV. Multiply that by the number of holders and you have a fairly large amount of foreign currency in the Sentral Banko, LOL!
More likely, there could be a "thinning out" of those in that category, starting with all the Chinese nationals the Senators appear to be worried about.

Quite strange that no one in the Senate did their homework re the SRRV, before they started the session. After all it was the Senate/House who approved the Department of Tourism to go down that road.

The Senators also seem to have ignored the part of the SRRV, where it allows the holder to carry out/invest in business, or to be able to take up paid employment. (Or so I have been informed by an American friend who is a SRRV holder.)

Typical case of the left hand not knowing (or remembering) what they told the right hand to do.  :)

Stay safe all.

Peter
"

Think those currently holding the visa that are 35-49 will be grandfathered.  Probably no new applicants that age will be considered or age will be raised maybe to like 45.  The funds are held in specified banks not the Sentral Banko.  Agree definitely with them being allowed to work since this is a retirement Visa supposedly.  Being allowed to invest is another matter. Not unusual for the left hand not knowing what the right hand is doing in regards to the government here.

Chuck
Life is  to short not to live it right the first time

Offline M.C.A.

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Re: SRRV Halted
« Reply #6 on: October 25, 2020, 07:00:07 PM »
From the article I referenced, to me it is not halted, it is suspended. I think there may be a slightly different meaning, in English-English, as opposed to American-English.  8) 8) IMHO.

" ......
that the acceptance and processing of applications for new SRRV at the PRA Head office and all satellite offices is suspended beginning 23 October 2020 until further notice, .......


I doubt very much if the entire 35-49 years eligibility age group of SRRV applicants, will be denied, as they are stumping up US$ 50,000 per SRRV. Multiply that by the number of holders and you have a fairly large amount of foreign currency in the Sentral Banko, LOL!
More likely, there could be a "thinning out" of those in that category, starting with all the Chinese nationals the Senators appear to be worried about.

Quite strange that no one in the Senate did their homework re the SRRV, before they started the session. After all it was the Senate/House who approved the Department of Tourism to go down that road.

The Senators also seem to have ignored the part of the SRRV, where it allows the holder to carry out/invest in business, or to be able to take up paid employment. (Or so I have been informed by an American friend who is a SRRV holder.)

Typical case of the left hand not knowing (or remembering) what they told the right hand to do.  :)

Stay safe all.

Peter
"

From what I've read I don't think the Chinese are putting up $50,000 but buying and making condo payments and many working in the gaming industry so the Chinese are also taking away jobs so that was another major issue.

I do know a few fellow Americans that have gone through this process from the US and they are on a Military and a Medical type pension ages around 30 years and only $1500 deposit, so it appears there's also a loop hole but the amount of Americans on the SRRV is nothing compared to the Chinese and Koreans, I think the Government will standardize that age.
My views would be from someone who lives out in the province close to in-laws on a pension.  Norwegian and French heritage.

Offline Peter

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Re: SRRV Halted
« Reply #7 on: October 26, 2020, 11:11:59 AM »
Chuck.

< From Merriman-Webster Dictionary:....   > Which is a dictionary of American English.

As I pointed out < I think there may be a slightly different meaning, in English-English, as opposed to American-English.  8) 8) IMHO.  >

I'm cool, so no need to get our knickers in a twist.
Or in American phraseology (hope I got this correct  :D ) "Don't get your panties in a wad."

Stay safe all.

Peter
Noli nothis permittere te terere.
Virtus autem corruptibilis est,
summa virtute prorsus corrumpitur,

Offline bigrod

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Re: SRRV Halted
« Reply #8 on: October 26, 2020, 12:01:42 PM »
Chuck.

< From Merriman-Webster Dictionary:....   > Which is a dictionary of American English.

As I pointed out < I think there may be a slightly different meaning, in English-English, as opposed to American-English.  8) 8) IMHO.  >

I'm cool, so no need to get our knickers in a twist.
Or in American phraseology (hope I got this correct  :D ) "Don't get your panties in a wad."

Stay safe all.

Peter

Would never get worried over such a trivial matter, such as English-English, as opposed to American-English.
:D

Only my daughter would have worried about this since she was born in Oxford in 1981 and had entitlement to both US and British citizenship.

Being almost 73 I will stick with what I was taught many moons ago.
 
Chuck
Life is  to short not to live it right the first time

Offline Peter

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Re: SRRV Halted
« Reply #9 on: October 26, 2020, 12:34:09 PM »

.......   Only my daughter would have worried about this since she was born in Oxford in 1981 and had entitlement to both US and British citizenship.

Being almost 73 I will stick with what I was taught many moons ago.
 
Chuck

Now, that I can relate to. When my youngest daughter (Filipina) was around 7 years old (she's now 22) my wife said she needs an English dictionary as they were starting English language classes at her school. She was already a fluent English speaker/reader/writer, but still had to take the class.

Without thinking, I bought a 'Concise Oxford English Dictionary' It's on the bookshelf as I write, with Quote "1,456 pages of 190,000 definitions" Unquote.

Yes. An English-English dictionary LOL! School class was being taught in American-English.  :-[ :-[ :-[

Even now, she corrects her cousins over using American English, saying they do not write in "Proper English" She says that with a smile. LOL!

Stay safe all.

Peter

Noli nothis permittere te terere.
Virtus autem corruptibilis est,
summa virtute prorsus corrumpitur,

Offline codefreeze

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Re: SRRV Halted
« Reply #10 on: November 04, 2020, 01:18:07 AM »
Let's see what they do. It was a nice retirement visa compared to some in South East Asia.

One of the things I didn't like about it was that you transferred the lump sum requirement to a bank account you had no control over. I would much prefer something along the lines that Thailand has where you simply transfer into your own Thai bank account. You then need to show proof of funds in that Thai bank account. That works nicely as you retain control.

The other thing is with Visa renewal in-country being available in Philippines, the SRRV is slightly less attractive if you are someone who splits time between PI and your "home country", as you can have a pretty long stay before needing to go "home".

I await to see the changes with interest!

Offline MotorSarge

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Re: SRRV Halted
« Reply #11 on: November 04, 2020, 06:30:54 AM »
Let's see what they do. It was a nice retirement visa compared to some in South East Asia.

One of the things I didn't like about it was that you transferred the lump sum requirement to a bank account you had no control over. I would much prefer something along the lines that Thailand has where you simply transfer into your own Thai bank account. You then need to show proof of funds in that Thai bank account. That works nicely as you retain control.

The other thing is with Visa renewal in-country being available in Philippines, the SRRV is slightly less attractive if you are someone who splits time between PI and your "home country", as you can have a pretty long stay before needing to go "home".

I await to see the changes with interest!


YES let's see what they do with the corruption clean up with the Tens of thousands of Chino illegals who bribed there way in and overstayed, then raise the retirement age and restart the program.





Edit By Steve: Fixed The Quote.
« Last Edit: November 06, 2020, 11:01:44 PM by Steve & Myrlita »
MS