Retirement Visa Special Resident Retirement Visa (SRRV)

I still have the SRRV - the PRA interest is annotated on the TCF of the house and lot. Providing I don't sell or mortgage the house, the visa stands (subject to the annual $360 renewal fee). If I sell or mortgage the house I would have to deposit the $20000 again, until such time as I had another house. So basically, to keep the visa you have to have either a house / lot / condo valued at >PHP2 mil OR $20000 in the PRA escrow account.

 

Your gf (not wife) can own the lot. You can have a 25 + 25 year lease plus Absolute Power of Attorney on the lot, and you can own any house you build on the lot. The lease and APA are annotated on the TCF of the lot, along with the PRA interest before they return your $20000. If the property is sold or mortgaged the PRA would be informed and would require you to re-deposit the $20000.

 

Basically I think Hawk is saying that you can't Lease from your Wife. Which of course is correct.

JP

 

Hi Bob: I am retired military and I have a Courtesy SRRV. The person who helped me process the paperwork was Carlos Zialcita. At the time he was the PRA Officer-In-Charge of the Subic/Clark Satellite PRA Office. He retired from the PRA and now helps people process their paperwork as a consultant. I would definitely hire him because there are nuances in the law. Or example, Sir Carlo told me former military people 70 years old (and older) do not need to furnish a police clearance from their home countries -- that's helpful info if someone is old, but with a blot on their record. I'm not sure if the 70-year old thing applies to other categories of SRRVs. Anyway, let me know if you want Sir Carlo's contact info and I will give it to you.

 

I had been looking for this thread since yesterday, glad I found it. I've googled of course but it's nice to know from someone who has tried. Thank you for posting.

 

Please excuse my ignorance if this is a stupid question, but what happens to your property if you die?

 

You can have a Last Will and Testament made and motorized at Dumaguete City Hall legal office.

Note: I am a volunteer beneficiary for those who may not have one.

 

Oh, thanks! I'm the gf btw, I'm looking at options so my partner will be comfortable living there without having the need to marry me. "Volunteer beneficiary"
That would be me lol

 

T

Are you the foreigner gf or the filipina gf with a foreign bf?