Will there be diving in the Philippines this summer?

[D_Fresh]

So let me get this straight... If you deposit $10,000 in a RoP bank and can show a steady income of $1,000 per month then we can retire in the Philippines?

Essentially, yes, as long as a person meets the requirements. The reality is, they want the foreign money coming into the local economy. The following is from Philippine Retirement Authority, pra. gov.ph

"For active/healthy retirees, who opt to use their SRR Visa deposit into active investment such as the purchase of condominium unit* or long term lease of house & lot. The SRR Visa deposit is as follows:

50 years old & above: US$ 10,000.00 (with a pension)** US$ 20,000.00 (without pension) 35 to 49 years old: US$ 50,000.00 *The value of the property must at least be US$50,000.00 **Required pension of at least US$ 800 for single / US$1,000 for couple"

 

[BoundForElsewhere]

Essentially, yes, as long as a person meets the requirements. The reality is, they want the foreign money coming into the local economy. The following is from Philippine Retirement Authority, pra. gov.ph

"For active/healthy retirees, who opt to use their SRR Visa deposit into active investment such as the purchase of condominium unit* or long term lease of house & lot. The SRR Visa deposit is as follows:

50 years old & above: US$ 10,000.00 (with a pension)** US$ 20,000.00 (without pension) 35 to 49 years old: US$ 50,000.00 *The value of the property must at least be US$50,000.00 **Required pension of at least US$ 800 for single / US$1,000 for couple"

well, since i had too many kids with too many wives I will be retiring on social security and my good looks, this is def going down on my list of options. I don't suppose Duterte will legalize pot, though so that might be an issue.

 

[EdC]

My dive shop has secured travel to the Philippines in November. I will ask how they have been able to do what sounds like the impossible

Did you ever find out if they actually are going in November? We had a March trip reschedulled to November also but it doesn't look like it's likely at this time.

 

[Blueringocto_73]

The dive trip is still scheduled however only dive professionals will be going if the situation has not changed. The only ones going for sure are those eligible for a work visa as dive professionals if the travel restrictions remain in place.

I am not a dive professional so I'm stuck on this side of the pond until travel is permitted. I could qualify as a guide if I take one more SSI cert. And go pro as well as pay for insurance.

Did you ever find out if they actually are going in November? We had a March trip reschedulled to November also but it doesn't look like it's likely at this time.

 

[Centrals]

https://www.doh.gov.ph/2019-nCov
Still 2000+ cases everyday !!!

 

[Rickk]

So let me get this straight... If you deposit $10,000 in a RoP bank and can show a steady income of $1,000 per month then we can retire in the Philippines?

Yes, you need to be age 50 for that but if you are talking about retirement I am assuming you are at least 50.

Fees are $360 per year after first year you can pay 3 years at a time. More or less the same as tourist visa renewals but only annually or every 3 years instead of every 2 or 6 months.

The SRRV lets you live her indefinitely, come and go as you wish (pre and post covid ), open bank accounts, lease property, get a local river license plus some other benefits. After paying fees, you need no more dealings with the bureaucracy. To get mine initially it tok about 5 hours, my first renewal took an hour, that is 6 hours dealing with the bureaucracy for 4 years living here.

Check out the PRA web site and if you want additional details and some hints, just PM me.