I've been looking into this as I had a retirement visa in Thailand and was interested in doing the same thing in the Philippines.
A friend of my has one and suggested I take a look.
you do have to make a cash investment in my case I heard it was 20k US.
I wrote to someone that handles the paper work for this and this was part of his reply:
In answer to your queries the amount invested varies according to the circumstances and age of the applicant and ranges from USD10,000 to 50,000. These funds may be either left in a PRA accredited bank in the form of a CD which gains interest or used for various investments including purchase of a condo unit or long-term lease of a townhouse.
I think that it is best that you visit my office and decide for yourself whether or not it is to your advantage to apply for an SRRVisa.
I don't have a problem with making a 20K deposit. In Thailand you have to do the same and it has to remain untouched for 3 months.
after the visa is issued you can use the money.
But in this case YOU have to leave the money invested...
personally I don't want to buy a condo or lease a town house or buy a market account.
So I'm not sure for me it's a way to go.
Maybe just stick with the ARC card and doing immigration every 2 months  |