SRRV Update

[Freebie]

1 hour ago, Tommy T. said:

Please correct me if I am wrong.... But I think that annual rate is close to the tourist visa rate?

They are priced to be almost identical....no benefits either way.

[Snowy79]

3 hours ago, Freebie said:

They are priced to be almost identical....no benefits either way.

The benefits is the SRRV is annual and can be done online, no requirement for an Exit Certificate and few other minor perks like opening a bank, drivers licence, working, studying etc.  For me the once a year renewal is a massive bonus.

[Freebie]

2 hours ago, Snowy79 said:

For me the once a year renewal is a massive bonus.

The once every 3 years would be even so much  better.. ........:)

[Snowy79]

3 hours ago, Freebie said:

The once every 3 years would be even so much  better.. ........:)

Apparently it is on the cards again. 

[Freebie]

14 hours ago, Snowy79 said:

Apparently it is on the cards again.

Is that confirmed Snowy ? I was told " it may happen in 2023" but hadnt heard more about it.

[Tommy T.]

15 hours ago, Snowy79 said:

Apparently it is on the cards again. 

 

1 hour ago, Freebie said:

Is that confirmed Snowy ? I was told " it may happen in 2023" but hadnt heard more about it.

According to my visit with the local PRA manager, it is definitely not available yet, but is under consideration. There was no time frame indicated. But everyone wants the three year version... We'll see...

[mountainside]

2 hours ago, Freebie said:

Is that confirmed Snowy ? I was told " it may happen in 2023" but hadnt heard more about it

 

30 minutes ago, Tommy T. said:

According to my visit with the local PRA manager, it is definitely not available yet, but is under consideration. There was no time frame indicated. But everyone wants the three year version... We'll see...

I lost the recent quote from a PRA employee that PRA is "hopeful" that the three year option will soon return.  The PRA marketer/attorney who's handling the application for my second SRRV confirms the 'hopeful" part.  But the decision apparently can't be made without consultation with BI, DOJ, and DOLE, to "implement an enhanced program to regularly monitor the profile and activities of active SRRV holders."  An old link about the increased monitoring requirement is here:  

https://beta.tourism.gov.ph/news_and_updates/pra-to-amend-retirement-policies-suspends-processing-of-srrv-applications/

So I, like you, am hopeful.  But if the agencies involved see the annual renewal as useful for monitoring, and not likely to drive away SRRV applications, then I might be hopeful for a long time before my hope comes true.

[Snowy79]

8 hours ago, Freebie said:

Is that confirmed Snowy ? I was told " it may happen in 2023" but hadnt heard more about it.

So far just jungle drums from a PRA employee but we know how slowly the wheels can turn here. 

[hk blues]

17 hours ago, Snowy79 said:

So far just jungle drums from a PRA employee but we know how slowly the wheels can turn here. 

I would also be wondering about the loss of revenue if they move from 1 to 3 years - will that not cut revenue by 2/3rds?  That might play a part in allowing the wheels to turn at a snail's pace.

[mountainside]

14 hours ago, hk blues said:

I would also be wondering about the loss of revenue if they move from 1 to 3 years - will that not cut revenue by 2/3rds?  That might play a part in allowing the wheels to turn at a snail's pace

No 2/3 revenue loss.  The three-year renewals simply permitted folks to pay three times their annual dues once every three years.  Their was an opportunity cost for PRA/BIR though, since the three-year rule deprived them of the opportunity to invest the more frequent payments.