SRRV Process and Discussion

[Tommy T.]

8 minutes ago, robert k said:

I don't think the improvements would count as security as selling them to a different party may not be possible. I certainly wouldn't allow subletting of a lease or transfer without my authorization if I were leasing property. I don't think the value of a lease would count or a condo lease would qualify, and I don't believe it does.

Thanks, Robert, for your advice! That's food for thought (thankfully, no rice!)... We will investigate further to see what can and cannot be done. Not to criticize you, Robert, but your comments say "think," "think," and "believe." While I don't doubt you, I need to verify these things myself to be certain.

Oh... and my lease agreement specifically states that there is no transfer or sublet of lease without my blessing... I think my attorney is doing okay so far? I don't trust anyone here, so I am trying to be sooo careful. But I also know I could be screwed without even a kiss if something(s) don't work out as planned.

So far, I am confident with the land situation and "am certain," that the improvements I authorize and pay for are mine. But then... what is the difference between, think, believe and certain here in the Philippines? All cautions noted (as a Filipino would say!) and I will be careful before making too much commitment...

[robert k]

35 minutes ago, Tommy T. said:

Thanks, Robert, for your advice! That's food for thought (thankfully, no rice!)... We will investigate further to see what can and cannot be done. Not to criticize you, Robert, but your comments say "think," "think," and "believe." While I don't doubt you, I need to verify these things myself to be certain.

Oh... and my lease agreement specifically states that there is no transfer or sublet of lease without my blessing... I think my attorney is doing okay so far? I don't trust anyone here, so I am trying to be sooo careful. But I also know I could be screwed without even a kiss if something(s) don't work out as planned.

So far, I am confident with the land situation and "am certain," that the improvements I authorize and pay for are mine. But then... what is the difference between, think, believe and certain here in the Philippines? All cautions noted (as a Filipino would say!) and I will be careful before making too much commitment...

I have to say believe and think because 1. I am not giving legal advise. 2. I don't have the pertinent law right in front of me to copy and paste in for a make of it what you will. I do want to caution you so you don't hit a snag later on. I have also dealt extensively in land matters elsewhere, some applies to the Philippines because it has to be that way and other things don't because they do things their own way. Now, in my opinion only! Security is security. That's why a purchase of a condo or a deposit in a CD in an approved bank is specified. I don't believe 1 million USD in the stock market would qualify because of it's nature, it's not guaranteed. I had put in some study years ago and you get a feel for the way things are done, I wouldn't absolutely depend on my gut instincts, but it gives me a starting place to look and generally, it's how I thought it would be. The one that really threw me for a loop is there is no Title Insurance in the Philippines. It took a couple hours of searching to be sure but once I was certain, I started saying it in every buying property discussion I saw.

Just as a hypothetical? If you leased land from someone else who didn't have good title? What do you think happens to your lease?

[Tommy T.]

12 minutes ago, robert k said:

The one that really threw me for a loop is there is no Title Insurance in the Philippines. It took a couple hours of searching to be sure but once I was certain, I started saying it in every buying property discussion I saw.

Just as a hypothetical? If you leased land from someone else who didn't have good title? What do you think happens to

Excellent thoughts, Robert... thanks for that! I will definitely be careful. Your thoughts are well received!

 

15 minutes ago, robert k said:

Just as a hypothetical? If you leased land from someone else who didn't have good title? What do you think happens to your lease?

Sorry... I messed up on the quotation function... still learning! Without giving you details, Robert I think I could assure you that the title for this property is sound...  I really do appreciate your comments and, believe me, they are not lost on me at all!!!

 

[Freebie]

I completed mine a few months back... I had visited the main office in Makati but the info I received was way less than clear. I was fortunate to find a consultant who helps arrange primarily for Japanese retireees, but has a filipina partner also. For a fee, I was able to process bank account opening ( specifically for SRRV visa ), NBI clearance, medical ( 30 minutes max ) and that was it. They submitted forms for me and gave me one year to submit the police clearance. Was a painless and easy way to do it. Anyone needs their number or email, please contact me. I cant recall the exact fee but for the time savings it was an excellent resource.

Getting the UK police clearance was of course another story. fortunately I have a family member living in London otherwise would have been a long sorry saga.

Step 1. Get the police clearance... aside from the fact the site wouldnt accept any of my 4 credit cards it was straightforward. Had it sent to UK address.

2. Family member takes it to Phil Embassy so it can be " red ribboned "

3. Phil embassy (  Restricted times for submission ) says  oh it must be authenticated by Foreign and Commonwealth commission .

4. Family member goes to FCO office. "No no we don't do authentications. We have told Philippines Embassy 1000 times to stop sending people here. Theres a govt site that does it now. "

5. find govt site. Pay first, then they provide address where to send certificate. Gets returned in 14 days.

6. Go back to Phil Embassy for red ribboning.

7. Send to Manila so i can submit.  Not a straightforward process at all but posting this for benefit of future applicants.

 

As an earlier poster stated its a great visa to have. no worries re onward tickets, its a visa that valid for life, no BI clearances required and only need one visit per year or every three years to renew. Im very happy i got this visa. The USD20,000 that they hold, well it was sitting in bank doing nothing so now its sitting in a Philippines bank doing also nothing till the time I might ever need it back. I had heard it was returned within 14 working days but not my issue or concern at moment.