New Courtesy Visa For Military Retirees

[JJReyes]

I guess it's okay to post this information since the Philippine Retirement Authority is scheduling a 10:00am meeting on Thursday, May 2nd at VFW Post 2485 in Angeles City. An official from the PRA will be briefing US veterans about their new, expanded SRRV Courtesy visa.

 

The required deposit is reduced from the current minimum of $10,000 in an accredited bank to $1,500. The initial deposit can be later applied to pay for a long-term lease on a house and lot or become part of a down payment for a condo. While the one time application filing fee of $1,400 remains, the annual renewal fee is reduced. My understanding is the amount is something like $10 per year! (The briefing was verbal. I am still waiting for a written copy of the circular, which I have been given permission to post on my websites and this forum.)

 

To qualify, you must be a US military veteran with DD Form 214 and at least 50 years old. The two locations the Philippine government is looking to develop as housing projects for US military retirees are the former Clark Air Base and Subic Bay Naval Station, but you can retire anywhere. There are other requirements like police clearance, which will be explained at the meeting.

 

I already asked about military retirees from Canada, Australia, United Kingdom, New Zealand, etc. It appears this was not taken into consideration. The PRA may correct the omission later.

 

[TexasRangersFan]

8 more months to go. Then I can qualify.

[i am bob]

Could you pass on to them that I would consider this myself IF IT WOULD INCLUDE CANADIANS!!!

 

:SugarwareZ-034:

[earthdome]

JJ, could clarify whether this is for those who retired from the US military, or for anyone  who served in the US military regardless of how long and meet the other requirements?

 

If the latter then this indeed would be a great deal for me.

[Mike F]

Thanks for the information! I will check with PRA for more information.

[JJReyes]

JJ, could clarify whether this is for those who retired from the US military, or for anyone who served in the US military regardless of how long and meet the other requirements? If the latter then this indeed would be a great deal for me.

 

To qualify, you must be a US military veteran with DD Form 214 and at least 50 years old.

 

I am not familiar with the US military, whether DD Form 214 means you were honorably discharged irregardless of length of service or you served a minimum ten years. The good news is the PRA is headed in the right direction. They want a more liberal interpretation as to who can qualify for their Courtesy visa. Actually, there are other groups who can qualify for the smaller initial deposit and smaller annual renewal fee.

 

Anyone out there with a Ph.D.? I don't mean answering an ad in the backpages of Rolling Stone magazine.

[Genius]

I don't understand why military should get such lenient better terms. Are they expecting an invasion?

What is the rationale behind it?

Or is it going to be like Costco membership, where basically anyone with any profession will be able to qualify?

[i am bob]

This is the Courtesy SRRV Visa that used to be only for retired diplomats and ambassadors who had served in the Philippines.  The figures and amounts remain the same but it looks like they are adding on to who is able to apply for it.

 

http://www.pra.gov.ph/main/srrv_program?page=1

[Jake]

I don't understand why military should get such lenient better terms. Are they expecting an invasion?

What is the rationale behind it?

Or is it going to be like Costco membership, where basically anyone with any profession will be able to qualify?

Hello Genius,

 

It's a good valid question -- why retired US military is being afforded some slack for the SRRV program.

If I may, allow me to take a couple guesses, like farts in the wind:

 

The USN, starting post WWII was implementing a program to allow foreigner nationals to be recruited.

I believe it was the only branch of US military to do so.  For the past 50+ years, multiple generations of

Filipino military retirees and their dependents were the first to send remittance back to PI, way before

OFW took over.  Perhaps the Philippine government would still like to maintain that flow of money.

 

Just about all my father's group of friends were retired from the Navy.  I believe the PI government sees

this as a cash cow, not only because of their military pension but also their social security benefits.  In

many cases, a monthly deposit of at least 3 grand is deposited into their account for the rest of their life.

 

Yes, they are called pensionados and yes......they live like kings back in their native land no matter what

their immigrant status may be (either 13G or dual citizen).

 

Respectfully -- Jake

[BrettGC]

Have to concur with Jake on this Genius.  Long-term serving members are guaranteed income for life no matter their circumstances and therefore will be providing for themselves and contributing to the economy at the same time. Pity I'm 6 years shy of the minimum limit and Australian; but as JJ says, they may change the rules to encompass more people.  Sort of irrelevant for me anyway, getting married in August.