$40,000.00 EQUALS TO A PERMANENT VISA IN THE PHILIPPINES

An investment of $40,000 ( about P1.8 million peso) or marriage to a Filipino will allow a Chinese citizen to stay in the Philippines permanently, according to the Bureau of Immigration.


The Bureau of Immigration recently handed down a memorandum prescribing the guidelines for the issuance of permanent visas to Chinese nationals. The memorandum was issued after Justice Secretary Raul Gonzales approved another memorandum issued by the bureau that grants the Chinese the privilege of availing themselves of permanent residence status in the country.


Immigration Commissioner Marcelino Libanan said the offer of permanent resident visas was intended to entice more investors to come to the country.

The new policy will surely benefit our economy as it will definitely encourage more Chinese businessmen to invest in the Philippines and generate jobs for our country men. Since the economy of China is booming.


The new policy was in line with the bureau thrust to remove Chinese and Indians from the list of restricted or high risk nationals.



Under the Bureau of Immigration memorandum, a Chinese citizen who has invested $40,000, is qualified to get a quota immigrant visa. But only 50 nationals could get such visa as provided under the Immigration Act.


Chinese citizens who are married to Filipino could be given permanent visa for one year first before being given a permanent status.


Chinese nationals married to permanent resident aliens are also qualified for permanent visas.


Chinese applicants could seek similar status for their legal spouse and dependents under 21 years old.


Although China is booming, a number of poor Chinese are moving to the Philippines looking for work. Scores of Chinese illegals were rounded up by the Bureau of Immigration last year for hawking goods without working visas.



The Philippines is also seen as a tourist destination and a possible retirement haven for Chinese nationals. The number of tourist from china has steadily grown over the past several years.


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