Your Balikbayan stamp is good for a year. Prior to it's expiration, you can file for a 6 months extension and again thereafter for another 6 months! You can also do it every 2 months up to a year! Your choice. If you still want to stay longer than the two year, you can file another extension at the Manila BI. You can find what the fees are on the internet easy enough using Google search.
Just went to Immigrations today to extend our visas! Guess what? Disregard the 6 month extensions! Things have changed concerning the 6 months extensions for those ''Balikbayans''! No longer, but still with exceptions! The BI says, 14yrs old and under, students and over age 65 can still avail the 6 month extension. All others, 2 month extensions at a time up to 2 yrs will apply! I haven't seen the memorandum that states this or when it went into effect, the people at the BI just stated it was so and wouldn't comment on it any further! Our his/her 1st 2 month extension cost us P8,900. The 2nd 2 month extension will be half that and so on thereafter per their fee chart! We may just take a 3 day weekend to Bangkok and back after the 2nd extension instead of paying anymore extension fees to the BI!!!! It's just The Philippine government's way to make an extra peso where it can! And all the prices has gone up some from the last time we applied for an extension! Inflation I guess!!!!!!
Just a word of caution: Just don't read one or two Republic Acts, Memorandums or Reversions, because you may not be reading the up to date version on any one website concerning Immigration in the Philippines! It may have an effect on your future travel plans! Just browsing a few websites, I already seen a few old version of Republic Acts that didn't include the updated version! You're on your own to see for yourselves cause there may be numerous changes throughout! Anyone out there who knows how to find all of the new revisions, memorandums etc? Sure would be helpful to all!