You may use Retirement fund (Visa Deposit) for Long “Term Lease (25 years or 25+25 extension=50 years) for House and Lot” other than purchasing of Condominium which is ready for occupancy and value has to be more than US$50,000 by one time pay to Lessor. Your SRRV program has to be not Smile program which does not allow to invest your visa deposit.
According PRA rule, Long Term Lease must be “House and Lot”, lease of lot only and build/own the house by Retiree can’t be accepted by PRA. If no building yet, lot owner build the house (using money of Retiree) and lease to Retiree together with lot, then deduct money for building from lease amount. However, there might be space to negotiate with PRA if they can accept Lease of Lot and House to be registered under name of Retiree.
Owning or leasing a House and Lot in premiere subdivisions in Tagaytay is safe, relaxing and away from the stressful hustle & bustle in the Metro. Whether you’re on for an adventure or just want a quick escape from the busy Metro life, Tagaytay never fails to satisfy your wanderlust cravings. With the many Tagaytay tourist spots to see, delectable dishes to munch on, and fun experiences not to miss out on while enjoying the cool weather, you will definitely have the vacation you’ve been looking for.