Suppose you want to immigrate to an Asian country. In most cases, you can only obtain some type of golden visa, such as MM2H in Malaysia, Thai Elite Visa, Global Investor Program (GIP) in Singapore, etc. Still, all of them have a limited duration and require a significant investment of money. I’m not talking about work or student visas, but options are equally open to different groups of interested people, such as investors, digital nomads, retirees, etc.

For example, the cheapest version of the Thai Golden Visa (valid for only 5 years) would require a payment of 900,000 BTH (approximately 27,000 USD). A 15-year visa would cost you around 74,000 dollars (2.5 million BTH). These fees are non-refundable.

The MM2H conditions were significantly changed after the lockdown and require a minimum deposit of US$150,000, of which you can use US$50,000 for selected activities such as housing purchases. However, the minimum deposit of US$100,000 must be maintained in the account. Malaysia also requires a minimum stay in the country of 90 days per year. If you plan to move to Malaysia, this shouldn’t be a problem. But this isn’t the right choice if you’re a digital nomad or want to secure residence as a Plan B.

Speaking of Singapore, the GIP is one of the best Golden Visas in Asia but requires a minimum investment of 10 million SGD (about 7.5 million dollars). You must also prove that you’ve been an entrepreneur or company owner for over 3 years, and your company’s last revenue must be at least 200 million SGD (about 150 million dollars) annually.

The Philippines also has long-term visa options, such as the SRRV (Special Resident Retiree’s Visa) in different variants, like Classic, Courtesy, Expanded Courtesy, or SIRV (Special Investor’s Resident Visa). Due to the abuse of these programs in recent decades, the government is currently reviewing both programs, and the Philippines Congress is reviewing the immigration law for both.

At the same time, a new program was created—the FIV or FAB Investor Visa. FAB is the Freeport Area of Bataan, a special administrative region directly linked to the presidential office.

The Philippines has had the fastest-growing economy in Southeast Asia in recent years. Its citizens are famous for their hospitality, and its natural beauty (over 7,000 islands with beautiful beaches, diving and snorkelling areas, mountains, and tropical forests) is impressive. The population is mostly proficient in English, making communication much more manageable.

As an emerging economy, the Philippines offers various business and investment opportunities. It’s also a good opportunity for families and retirees to move there. The country is very family-friendly, and there are many international schools. The healthcare system is of very high quality. You can seek treatment in public or private hospitals at affordable costs.

Even if you don’t plan to move directly to the Philippines, the FIV is a great possibility for a Plan B with one of the fastest, easiest, and cheapest processes. It offers immediate permanent residence and no stay requirements. Your residence remains valid even if you don’t stay in the Philippines.

The advantages

The advantages of this new program are evident at first glance:

• Simplified application process with a waiting time of approximately one week after submission
• Low investment requirement of US$75,000 (the amount must remain invested during your FIV validity period) – one of the fastest and cheapest investment residence programs
• Possibility to obtain Philippines citizenship (in this case, you can also get your investment refunded)
• Up to 7 years of tax exemptions with 0% taxes if the company is established on your own
• No taxes on foreign-source income (territorial taxation)
• No minimum stay requirements – you can come to the Philippines and leave whenever you want
• FIV residents can live, work, or study anywhere in the Philippines without the need for a separate work permit for the main applicant
• You get permanent residence from day one, and it counts immediately towards your future citizenship (citizenship requirement: maintain FIV for 10 years, of which you spend 5 years in the Philippines)
• No nationality restrictions – everyone is welcome
• No intrusive net worth requirements
• Access to high-quality banking services
• No real estate investment requirement (but you can certainly buy a house if you want)
• A single 5-day visit to the Philippines to complete the process
• The Philippines is one of the few Asian countries that accept dual citizenship – you can officially have a Philippines passport and keep your initial passport if you wish (subject to your initial citizenship country’s legislation).

The application processing fee is US$25,000 for the main applicant and US$2,500 per dependent family member. This fee is non-refundable and includes VIP treatment, such as:

• Ground transportation between Clark International Airport and the hotel
• Four nights accommodation (five days)
• Local transportation for necessary appointments
• Meals
• Philippines ID card processing fee
• Hospital medical examination fee
• Mental health examination fee
• Local SIM card fee
• Fingerprint fee
• Miscellaneous fees for the Bataan Special Administrative Region oath
• Permanent residence card issuance fee
• The local team will also be happy to help you open a local bank account during this period (but you need to apply in advance so the team can schedule appointments on time)

The Process

The process is straightforward:

Schedule the first introduction meeting with us
Sign the contract and prepare documentation
Pay fees
Submit applications
Pre-approval and travel scheduling (important! Don’t schedule your trip before pre-approval is provided. When it’s available, you’ll have 3 months to come to the Philippines to take the oath at FAB)
Take oath in the Philippines.
Remember that you must have all required original documents with certified translations available on your trip to the Philippines. They will be requested.

The entire process in the Philippines will be completed in 5 business days. Therefore, it’s advisable to fly in on Monday.

If you want permanent residence in the Philippines, don’t hesitate to schedule your free introductory consultation with us.

An update from 11/20/2024

At the beginning of the program, police clearance was requested from the country of citizenship. This is no longer the case. Now, there’s no problem providing police clearance from your current country of residence, which simplifies the process even further.

Also important is to be prepared for banks to request proof of funds. This is a common procedure in many banks worldwide currently, but it’s worth mentioning here as well to avoid bad last-minute surprises.

Why Choose the Philippines?

A year-round stable climate, it’s a ‘low-cost country’ with Western world benefits (infrastructure, security, and services), you have the sea and mountains, and it’s green. We don’t need to say more about the environment.

You can speak English, as it’s recognized as an official language. Not everyone speaks English, but you won’t need to communicate with absolutely everyone.

It’s a vast, well-connected country (with cheap flights to many parts of the world), it’s easy to emigrate there, and there are low or zero taxes for foreigners. What more can you ask for?

Sounds great right? If you need assistance emigrating or stabilising a business there get in touch.