Apart from no fee for a BB waiver (strictly speaking it is not a Visa) there is also no need for a ACR or Exit Clearance (you ONLY need a wife and that might put some off!). Prior to the expiry of the BB the holder can leave for 24 hours (some did less out-time than that) and return (and as @Dutchie said, MUST be with wife - SHE must request her husband's BB) and start a new BB year without ever applying for a Tourist Visa. As some people like the idea of an annual trip abroad (or look at it just as a 'sanity trip' OUT), this works very well. But, as you said, the BB holder could transfer to a Tourist (or any other permitted) Visa instead.
Fantastic news. Check in with BI and you may be very very surprised to know that a Tourist visa holder that has availed a BB Visa stamp does not have to exit after 3 , now 4, 5 ,,,,,even 6 years. Just renew your Visa. No more exit clearance required. At least for now they have made this wonderful change!
Have not seen it posted online yet, but I was to exit being here beyond my 3rd year, BI in Dumaguete extended my Visa and I also double checked with 2 of the Officers there. They said the change was made 2 months ago and I no longer need to exit but instead just extend and for now the time period is unlimited. My stamp in my passport is good enough proof for me.
You’ve got most of the essentials! Just make sure you have a consent letter for your son if you’re traveling alone with him. Also, double-check if you need any health-related documents or travel insurance.
