Philippines: Foreign Employers Can Stay Forever

[Jollygoodfellow]

http://www.iht.com/articles/ap/2008/11/17/...-Foreigners.phpForeigners who employ at least 10 Filipinos can stay in the country indefinitely, the Philippine government said Monday in an attempt to woo more investors.President Gloria Macapagal Arroyo signed the new rules in hopes of providing more jobs for Filipinos as the country braces for a global economic slowdown, said Immigration Commissioner Marcelino Libanan."We envision that if we make it easy for foreign investors to acquire a visa that allows them to stay in the country indefinitely, we encourage them to infuse their capital and provide jobs," he said.The Philippines has been struggling to increase foreign investment because of long-standing security issues, including Muslim and communist rebellions, as well as chronic corruption.Official figures show direct foreign investment accounts for about 15 percent of the country's gross domestic product, while comparable regional economies are attracting 20 percent or higher.The new rules apply only to foreigners who employ 10 or more Filipinos "in viable and sustainable commercial enterprises, trade or industry," the Immigration Bureau said. The bureau, however, has not made it clear if foreigners can keep such a visa even after their business no longer employs Filipinos.Most other visitors are allowed to stay at least 21 days, depending on their nationality. Most visas can be extended for up to a year.

[Mr Lee]

That is very interesting and I think it may bring more people to the Philippines and help some to stay, and now all they have to do is allow land ownership and some people will feel better about investing in a place they wish to call home.

Edited November 17, 2008 by Mr. Lee

[BobNChe]

Not so sure on that one as there are many different choices here on opening a businesses and having visa options. But they are trying to think outside the box!

Edited November 17, 2008 by BobNChe