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Visa Question SIRV - Special Investment Retirement Visa

Discussion in 'Passports and Visas' started by Rye83, Mar 17, 2019.

  1. Rye83

    Rye83 with pastrami Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    MODERATOR NOTE: Post 1 through 5 were taken from other threads on the forum.

    I'm going to answer my own question again:

    There is a special investment visa. It's called a "Special Investor's Resident Visa", quoted from the immigration website:

    This appears to only be an option for investing in the private sector:

    I am not sure if this covers corporate bonds. However, I think investing in corporate bonds would count as "investing capital in various economic activities". That's just a completely uneducated opinion though. This would require a discussion with the immigration office/embassy/lawyer.
     
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  2. OP
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    Rye83

    Rye83 with pastrami Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    Ha. Yeah, a bit obvious but you never know with the Philippines.

    Because it gives me access to a permanent resident visa that doesn't require me to be old (SRRV), married (13A), work a shitty underpaid job (9G) or be one of the lucky 50 Americans (Quota Visa). It is also one of the only visas that allows me to turn a profit with the requirements.

    The SVEG could be an option but I don't want to invest money into a business I can't own a majority share of...and I really don't want the headache that comes along with running a business and managing at least 10 employees in the Philippines. I want passive income, and I'm to a point in my life where I can seriously consider living off of my passive income.

    I could go with the SRRV for 35+...but that would require me to throw $50k into a bank account and never have access to it again. Maybe I could make some interest off of it but the maximum you should keep in any one bank in the Philippines is around $9k USD. After that the money isn't insured by the government if the bank goes t*ts up. Can you name 6 banks that are PDIC insured in Dumaguete? Maybe there are, but I sure as sh*t don't want to spend the better part of my life waiting in all the lines to each one of them just to manage my money.
     
  3. Solid_Pan

    Solid_Pan DI Junior Member Blood Donor

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    Of course you can split your SRRV deposit to different accounts, but you can not choose any bank and branch. PRA will exactly tell you what banks and branches they work together.
    PDIC insured banks: see bank directories here pdic.gov.ph
     
  4. TheDude

    TheDude DI Forum Patron Highly Rated Poster

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    So, you're worried about taxes and fees in the other thread, but you're wiling to pay $50K for a visa?
     
  5. OP
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    Rye83

    Rye83 with pastrami Secured Account Highly Rated Poster SC Connoisseur Veteran Army

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    The message you quoted was me suggesting I was unwilling to pay $50k for a visa. But I would be willing to invest $75k in publicly traded stocks.

    I figured that much but then every month I would have to take the interest in each account that goes over the PDIC insured amount and put it into a 7th bank that could be used for daily spending. How much would I lose in wire transfers/ATM fees every month? Not to mention all the time I would waste with online banking, physically going into each bank to withdraw or sitting in line at ATMs (if there are even 7 PDIC insured banks in Dumaguete). A visa should make my life easier, not a lot harder and full of headaches.

    The SIRV seems like the best option for me. I can work with a respected investment firm and let them do all the work. I will have to see how reporting your investments works with immigration for this visa.
     
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