It does - IF they grant it. Usually they do but I know of a member here who did not ask quickly enough (or, actually, his wife did not) and before he could say "Thanks Sir for availing me of the privilege of a Balikbayan so I can remain one year in your marvellous country where I know it is more fun (than???)" his passport was stamped with a Tourist Visa! Also, of course, how we ask is very important - "Please Sir, may my husband have a Balikbayan privilege please" (see the double "please"!) is probably going to get a better result than "Hey mate, stamp me a Balikbayan and be quick about it".