Teal Lantern wrote:
Thanks, ladi. No problem.
ladislav wrote:There is a new 6 month visa in Manila which costs some USD 320. Then you can extend it. Before you could stay in the Philippines 16 months on tourist visas, now it is two years.
Some people prefer tourist visas because these are cheaper. Not everyone wants to put $10,000- $20,000 in the local bank. Cause if you take it out, it cancels the visa.
I just posted this because another site is offering oh-so-exclusive info about this and other places for "only" $400 per year.
There are different rules. As I remember, under 35, not available, 35-49 you need to lock US$50,000 in the bank and only earn tiny interest, 50+ you just need to lock US$10,000 in the bank earning tiny interest. But, a qualified condo can be used in substitution of the bank deposit. Condo must be in retiree's name and purchased in cash for US$50,000 or above.
The visa will give you a handful of special privileges and I believe you are even allowed to work in most jobs with it. But there is a maintenance of around US$300 per year and acquiring the visa in the first year is US$1,400 or $1,600 (I don't remember which).
Hard call as to whether it's worthwhile or not. I would say if you own a qualified condo it might be worth doing or if you are 50+ and wanna work in Phils, it might be worth considering too. But for 35-49 with no condo, US$50,000 is a heck of a lot of money to tie up like that.