Hello Marco! We're a young couple from Barcelona considering spending 5-6 months in the Philippines. As far as we now, we need an Entry Exemption Document so that we can apply for a 9a visa, is that alright? Also, do you know how to get the EED in the first place? Thank you for your help!

Hola Eric and Marta,

There is good news and bad news on this topic. The Philippines, like most of SE Asia, remains locked down to tourists. Unlike Bali, where there is a visa workaround, the only way to enter the Philippines is with the EED or Entry Exemption Document you refer to. To qualify for the EED, you need to have an eligible reason (family reunification, work, immigration, etc.). Regrettably, wanting to enjoy the sunshine and gorgeous white-sand beaches of the Philippines isn't enough.

There is a way to acquire an EED through the SRRV program. However, since your comment mentions "young couple," I assume you don't meet the 50-year-old minimum page cut-off.

You can read more about the EED Process on this infographic that breaks down the "6 Steps To Acquire An EED For The Philippines."

Any other questions or concerns, please drop me a line. Good luck.

Marco

Hi Marco, I had a question about investing or at least drawing down from a retirement income portfolio from abroad. A significant portion of my retirement nest egg is in IRAs at a large US brokerage. How do I keep my money invested and growing/ paying me dividends while living abroad? Do I need to move my money? Is there a brokerage you recommend as an expat? thanks so much for any advice.

Hi TC,

I actually wrote about my brokerage strategy in this post: MOVING ABROAD CHECKLIST & OVERSEAS RELOCATION GUIDE

Here is the specific section:

Use a US Mailing Address for Your Brokerage Accounts- I've heard recent complaints that US brokers are closing expat accounts after discovering expats moved abroad. Brokerages are enforcing a decades-old law that prohibits cross-border sales of mutual funds. The law depends on where you are living and the brokerage's legal structure.

Rather than gamble if my accounts are affected, I adopt a "Don't Ask. Don't Tell" policy. My understanding is the law does not require I tell the broker what country I am living in but mandates I provide a mailing address. My mailing address is in the US. So far, so good.

This is a Virtual Mailbox Service you can use to keep a US mailing address Anytime Mailbox

Otherwise, there are two international brokerages that I've researched as backup plans that allow for expat accounts: Schwab International Expat Essentials and Interactive Brokers.

Cheers, TC. Let me know if you have any other questions.

Marco

thanks so much. I'll make sure to read that part of the guide... keeping a US mail addrees was a part of what I was thinking, but in terms of managing and checking out your brokerage account online while abroad are you also using a VPN to mask where you are? or is that going too far?

Since many times I am staying in an apartment or AirBnb where I don't have control over the router, I use a VPN whenever I deal with financial transactions. It's more for general safety than location masking.

Hello, I need help to get a EED.

Hi Phillip,

Thanks for reaching out. I saw your email, so I'll answer a bit here.
Are you fully vaccinated? How long were you looking to stay in the Philippines?

Cheers,

Marco

Hello Marco, Great information. I was wondering what is the best visa or process for a US retired veteran married to a filipina with two kids and wanting to move and live in the PI permanently? We are under 50 years of age, but have a pension that exceeds the minimums for most SRRV requirements.

Hi Stuart,

The SRRV Expanded Courtesy for Former Military is your best option. The SRRV Expanded Courtesy has the lowest annual fees and the smallest deposit requirements. However, the Philippines indefinitely increased the minimum age to 50 in 2020. At this point, we don't know when the Philippine government will reinstitute the 35 years old and up SRRV option.

https://nomadicfire.com/philippines-srrv-visa

If your wife is a Philippine national, your next best option is the 13a Marriage Visa.

https://nomadicfire.com/philippines-13a-visa-marriage

If you need help with your visa application process or would like personalized answers to your specific questions, you can schedule a Visa Consultation with an accredited Philippine Immigration specialist below.

https://nomadicfire.com/philippines-visa-consultation

Cheers,

Marco

I am planning a trip to the Philippines in January 2023. Are Covid vaccines a must or just a current negative test to enter?

Hi Linda,

All foreigners must be fully vaccinated to enter. If you are a Philippine citizen, then you may quarantine and test in lieu of vaccination.

Hey Marco. Hope you are well. I have a question re Philippines. I understand to open a bank account, that I can with an ACR card after 60 days. My question is am I able to open a brokerage account? I would be on a tourist visa? I'm interested in buying some ETF's. Many thanks!

Hi Paul,

Thanks for reaching out. With an ACR card, brokerages can open an account for you. However, as in banks, specific requirements vary depending on the location and who you speak with. Sometimes a bank manager (brokerage in this instance) will have additional conditions like a residency visa or AEP, and no amount of arguing will get them to change their mind. I recommend building a relationship with the staff at a physical branch closest to you. Personal connections go a long way when dealing with bureaucracy in the Philippines.

The bigger question I have for you is why? I'm assuming you have US citizenship. A Philippine brokerage has a much smaller selection of investments to choose from. Unless you specifically want to invest in Philippine corporations, I would open a US brokerage (use a local US address from a virtual mailbox like this one if you don't live in the US anymore). If you are not a US citizen, then any of the international brokerages (Interactive Brokers, Degiro, etc.) would offer better access to investment options.

If you have any questions, let me know.

Cheers,

Marco