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DumagueteInfo has a new home and you are viewing an archived article. Get the latest of what the new DumagueteInfo has to offer after reading this article. Thank you! Read more →
To apply for this visa you will need to do the following:
Cost:
P29,330.00 + $250 (USD) for ACR I-Card
Source: BoI – SVEG
Note: Hiring 10 maids, trike drivers or even a hiring 10 waitresses at a restobar that’s under your wife’s/gf’s name will not cut it. You must have a controlling interest in the business and the employees must be full-time/non-contract employees and you must meet all the hiring/pay requirements according to Philippine law. See the Philippine Foreign Investment Negative List and the Foreign Investments Act (RA 7042) for which types of businesses you can own a majority share of. Simply put; this visa is for serious business persons with deep pockets.
I have uploaded the BoI checklist for this visa at the Dumaguete Info Forums in this thread.