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[QUOTE=Punter 127]I extended my 21 day visa to 59 days (first extension) by taking my passport to a travel agent in Cebu (ATJ travels & tours) I dropped my passport off one day and picked it up the next afternoon, the total cost was P3202.00 they gave me the following break down of cost along with receipts.
Application fee 1000.00
Visa waiver fee 500.00
Legal research 30.00
Bi clearance 500.00
Express lane 500.00
Sub total 2530.00
ATJ fee 600.00
Vat 72.00
Total P3202. 00
IMHO P672.00 to have the agency handle this is money well spent.[/QUOTE]
Thanks for the thread Jackson, here’s a repost about getting a Visa extension hopefully it will get this thread going, and others will offer advice and Visa information. [b]BTW everyone please be advised you can [red]NOT [/red]wear short pants in Government offices.[/b]
I guess I should also point out that I exited the Philippines without any problems with the Visa extension stamps in my passport, not even a second look.
Thanks
Has anyone applied for thee Business and Retirement visa lately?
What happened?
What are the requirements?
best wishes in anticipation.
Gangles
[QUOTE=Gangles]Has anyone applied for thee Business and Retirement visa lately?
What happened?
What are the requirements?
best wishes in anticipation.
Gangles[/QUOTE]
My neighbor got a retirement Visa. You must be at least 50 yrs old to qualify for this one. Basically, the gov wants a $10,000 investment. You can put it in a local savings acct untouched or buy property like a condo. You'll get a special ID card and a sticker for your passport. Also, there is a minimum income that must be direct deposited (I think it's $800...not sure) to a PI bank monthly. There is a list of banks the gov has designated for the savings acct. My neighbor went to the Bank of Commerce in Angeles near 1st and MacArthur and they walked him through the entire procedure. My other neighbor tried the same thing with Equitable bank but that bank did not have a clue even though they are on the gov list. It took him about a month and you have to give them your passport during the application process. I talked with Bank of Commerce and they do have a retirement visa for the under 50 but it's a $50,000 investment! I'll have to wait few years. Please keep in mind they only recently, lowered the investment amount from $20,000. My friend got his about a year ago so my info may have changed. The person I talked to at Bank of Commerce is Claudette, acct manager. Good luck guys.
Originally Posted by Punter 127
I extended my 21 day visa to 59 days (first extension) by taking my passport to a travel agent in Cebu (ATJ travels & tours) I dropped my passport off one day and picked it up the next afternoon, the total cost was P3202.00 they gave me the following break down of cost along with receipts.
Application fee 1000.00
Visa waiver fee 500.00
Legal research 30.00
Bi clearance 500.00
Express lane 500.00
Sub total 2530.00
ATJ fee 600.00
Vat 72.00
Total P3202. 00
IMHO P672.00 to have the agency handle this is money well spent.
If you give one of the immigration guys wearing uniforms inside a 1000 peso tip it will expedite it from 4 hours to 30 minutes.
[QUOTE=Darth Sushi]My neighbor got a retirement Visa. You must be at least 50 yrs old to qualify for this one. Basically, the gov wants a $10,000 investment. You can put it in a local savings acct untouched or buy property like a condo. You'll get a special ID card and a sticker for your passport. Also, there is a minimum income that must be direct deposited (I think it's $800...not sure) to a PI bank monthly. There is a list of banks the gov has designated for the savings acct. My neighbor went to the Bank of Commerce in Angeles near 1st and MacArthur and they walked him through the entire procedure. My other neighbor tried the same thing with Equitable bank but that bank did not have a clue even though they are on the gov list. It took him about a month and you have to give them your passport during the application process. I talked with Bank of Commerce and they do have a retirement visa for the under 50 but it's a $50,000 investment! I'll have to wait few years. Please keep in mind they only recently, lowered the investment amount from $20,000. My friend got his about a year ago so my info may have changed. The person I talked to at Bank of Commerce is Claudette, acct manager. Good luck guys.[/QUOTE]
The time deposit requirement is $10,000 with a provable pension and $20,000 without a pension for persons over 50 years of age. There is a $1,400 application fee. There is also an annual investment fee of $500. One has to do some paperwork with the Authority annually. All details are on the Philippine Retirement Authority website. In contrast, a standard regular 59-day multiple entry visa valid for one year costs about $200.
I’m planning to retire next year, I will have a pension and qualify for a retirement visa.
But I only plan to spend about 8 to 10 months a year in the RP.
So I’m looking for some advice, what would you do, go for the retirement visa or just keep extending the tourist visa?
I’m just trying to weigh all my options, I would like to hear the pros and cons of each type of visa, and would appreciate any advice you would care to offer.
Thanks,
Punter 127
[QUOTE=Punter 127]I知 planning to retire next year, I will have a pension and qualify for a retirement visa.
So I知 looking for some advice, what would you do, go for the retirement visa or just keep extending the tourist visa?
[/QUOTE]
Punter:
If I had to decide then I would opt for a tourist visa (which is easy to get and without problems extendable). According to my experience it is namely always quite a hassle to deal with the local authorities. So, better avoid it whenever possible! IMHO, of course!
Cheers!
Hesekiels
[QUOTE=Hesekiels]Punter:
If I had to decide than I would opt for a tourist visa (which is easy to get and without problems extendable). According to my experience it is namely always quite a hassle to deal with the local authorities. So, better avoid it whenever possible! IMHO, of course!
Cheers!
Hesekiels[/QUOTE]Hi Hesekiels,
I tend to agree with you, I just wanted to makes sure I wasn’t missing something about the retirement visa.
Thanks for sharing your thoughts.
Punter 127
[QUOTE=Darth Sushi]and they do have a retirement visa for the under 50 but it's a $50,000 investment! [/QUOTE]
Is there a minumum age? If you are 20 is this still okay? Is this applicable for all passports/nationalities?
[QUOTE=Rguy89]Is there a minumum age? If you are 20 is this still okay? Is this applicable for all passports/nationalities?[/QUOTE] I think you have to be 35 year old or older. I think this link has the info you're looking for, hope it’s helpful.
[url]http://www.pra.gov.ph/main/srrv_program2/5?page=1[/url]
[QUOTE=Punter 127]I知 planning to retire next year, I will have a pension and qualify for a retirement visa.
But I only plan to spend about 8 to 10 months a year in the RP.
So I知 looking for some advice, what would you do, go for the retirement visa or just keep extending the tourist visa?
I知 just trying to weigh all my options, I would like to hear the pros and cons of each type of visa, and would appreciate any advice you would care to offer.
Thanks,
Punter 127[/QUOTE]
I disagree with those who recommend the tourist visa. The standards needed to obtain a retirement visa have been lowered recently, and I think it only requires a $10,000 "investment," which means you can put this amount in a local bank, draw interest, and get the visa. It's reasonably simple to obtain. If you keep extending a tourist visa for months on end there's a possibility of problems arising with Immigration, and you do not want that hassle.
GE
[QUOTE=Punter 127]I知 planning to retire next year, I will have a pension and qualify for a retirement visa.
But I only plan to spend about 8 to 10 months a year in the RP.
So I知 looking for some advice, what would you do, go for the retirement visa or just keep extending the tourist visa?
I知 just trying to weigh all my options, I would like to hear the pros and cons of each type of visa, and would appreciate any advice you would care to offer.
Thanks,
Punter 127[/QUOTE]I went through this analysis with a friend a few months back. We got all the requirements from immigration and compared both. It was quite clear that a tourist visa was the way to go. You need to renew the tourist visa every two months, but any agency can do it for about a 500 peso tourist charge. You can stay in the country for up to 18 months before having to leave the country for at least 24 hours. The retirement visa has a bunch of requirements that are a hassle, and it is expensive. There are also a couple of things you have to do every year. And importantly, you are required to notify them in advance every time you leave the country (I don't know if it is enforced however).
But with that said, if you need an ACR card, a retirement visa could possibly be the way to go. With an ACR card, you have the same standing in the country as a citizen, except you cannot own real estate or own certain types of businesses 100%. It is also required in getting things like post paid cell phone/electricity/land lines, a peso bank account, or loans.
[QUOTE=GoodEnough]I disagree with those who recommend the tourist visa. The standards needed to obtain a retirement visa have been lowered recently, and I think it only requires a $10,000 "investment," which means you can put this amount in a local bank, draw interest, and get the visa. It's reasonably simple to obtain. If you keep extending a tourist visa for months on end there's a possibility of problems arising with Immigration, and you do not want that hassle.
GE[/QUOTE]
GoodEnough:
with all due respect, but my experience in terms of dealing with local authorities was rather discouraging.
When I had applied for my permanent residence card I was told by a high levelled immigration officer that it is "no problem at all, just a formality". But all of sudden dozens of problems appeared including more and more additional requirements to meet. Needless to say that nobody had informed me properly in advance, plus - very upsetting - during the entire process I got different information from different officers. To cut a long story short, it cost me a lot of time and money including the usual bribes (sorry, they have called it 'coffee-money').
Don't get me wrong, I would be most pleased if things have changed nowadays and obtaining a retirement visa is 'really no problem'! However, I am still sceptical, especially when 'the new standards have been lowered' (question: do really all the immigration officers know that and act accordingly?)!
Good luck to all applicants!
Cheers!
Hesekiels
Hesekiels, you've been through it and I never have, so I bow to your experience. I was just repeated what I've read and what I've been told by friends here who have gone through it. One lesson may be to just hire a good "fixer" and let him weave through the bureaucracy on your behalf. I never mess with the government functionaries on my own and would prefer to pay others small amounts to do it for me.
My worry about perennially extending tourist visas is that sooner or later it's apt to backfire and those who do so make themselves prey to all kinds of other problems.
GE