So I guess withdrawl would effectively cancel your Visa and put you back to square one? Strange carry on Thought this was supposed to be a permanent Visa? JP
It's a way of ensuring that a SRRV holder has a 'financial stake' in the country - either as a bank deposit or in property. So if you were going to invest in property anyway, it may make sense to go the SRRV route and then withdraw the money to fund the property.
If you elect to go for a 'Philippines Quota Visa', you may withdraw the requisite local bank deposit once the visa was issued. This information is six years old.
I found it difficult to get accurate info. The woman in the office was rude and very unhelpful as if she did not want foreigners moving here. And a Dutch foreigner I met on a flight to the Pines last year laughed when I talked about withdrawing the deposit.. "Just try" he said.. So that gave me the jitters as well.. Most of the banks you can deposit with are "cowboy" banks. And what are the upsides except avoiding routine visa office visits?
I'm not very knowledgeable in this area, but I know Leo the manager at Bank of Commerce has helped a lot of foreigners in that area. He is a very good man and usually offers you a cup of coffee while chatting with you...
I went the SRRV route. I found the people at the PRA office in Manila very helpful indeed. I made the deposit, got the visa, bought a lot, built the house and then it was just a matter of filling in the application forms, taking some pictures of the house and I received my money back within a month.
So what happens to the Visa, Did you have to get an Alternative to the SRRV? Lets me ask it outright then if I may, What is your current Status here? I don't wish to appear nosy but it will help for the Understanding of the end result JP
