A new program has appeared on the market of programs and investment residence permits – FIV Investor Visa. The option was launched in the Philippines this year to attract HNWIs who would like to live in Southeast Asia. FIV Investor Visa program is managed by the authority of the Freeport Area of Bataan (FAB), formerly known as Mariveles Free Trade Zone. It is quite unusual for some region of the country to create a local program, but such cases have already occurred. For example, Canada had a large federal program to attract foreign investors, and the province of Quebec had a separate program with other requirements.
How to get the Philippines FIV Investor Visa?
Applicants have only one basic requirement – to make a minimum investment of $75,000 in an approved enterprise visa approved partners of the program. There are no requirements for minimum stay, to purchase real estate in Philippines.
Let’s have a look to similar programs of the region and their requirements. Singapore’s Global Investor Program (GIP) is one of the most prestigious residency programs in Asia. But it requires a substantial investment of S$10 million (approximately $7.42 million) in a qualifying business or S$25 million in a GIP Approved fund. Famous Malaysia My Second Home (MM2H) requires a minimum of MYR 1 million (approximately $220,000) and a monthly income of MYR 10,000 (around $2,200). Indonesia’s Second Home Program requires to show not less than 2 billion IDR (approximately $135,000) in savings or pension funds. Hong Kong’s Capital Investment Entrant Scheme (CIES) requires a minimum investment of HKD 30 million (approximately $3.8 million) in permissible investments. That makes Philippines FIV Investor Visa the most affordable option of the Southeast Asia region.
What are the main benefits of the Philippines FIV Investor Visa?
Permanent residency as long as the investment is maintained, with no expiration date on the visa itself.
After obtaining the Visa investor may work anywhere in the Philippines without needing any additional work permit.
Investors may include their legally married spouse and unmarried children under 21 for an additional processing fee of $2,500 per dependent.
Note that among all the countries in this region, only the Philippines and Singapore have English as one of their official languages, so most investors will not need to adapt to the local environment.
FIV Investor Visa holders are able to apply for Philippine citizenship without renouncing their original citizenship after fulfilling specific residency requirements.
The authority of the Freeport Area of Bataan claim that they process any application within 5 business days. That is really a winning option for those who would like to change location very fast. But only time will tell how would how will they cope with a large number of applications if there is a large flow.
