Articles & FAQs

  • The National Economic and Development Authority (NEDA) welcomes the issuance of Executive Order (EO) No. 175 promulgating the 12th Regular Foreign Investment Negative List (RFINL).

    On Monday, President Rodrigo R. Duterte issued the 12th RFINL, which provides details on foreign ownership limitations for key areas or activities, through EO No. 175.

    “We welcome the issuance of the 12th RFINL. The revised list is aligned with the recently passed amendments to the Public Service Act (PSA), Retail Trade Liberalization Act (RTLA), and Foreign Investments Act (FIA). It is also consistent with the policy to ease restrictions on foreign participation,” Socioeconomic Planning Secretary Karl Kendrick Chua said in a statement Tuesday.

    The 12th RFINL reflects the full foreign ownership liberalization for telecommunications, domestic shipping, railways and subways, and air transport as provided under the amendments to the PSA.

    The revised list incorporates the amendments to the RTLA that provides for a uniform minimum paid-up capital of USD500,000 (PHP25 million) from as much as USD2.5 to 7.5 million for non-luxury foreign retailers.

    It also takes into account the amendments to the FIA which allows for a lower minimum paid up capital of USD100,000 for non-Philippine nationals if the enterprise involves advanced technology as determined by the Department of Science and Technology, endorsed as a startup by the lead host agencies pursuant to the Innovative Startup Act, or employs no less than 15 Filipino employees.

    “In the future, we also intend to liberalize more sectors like renewable and inexhaustible energy sources such as wind, tidal, solar to help address the looming power crisis and climate change concerns,” Chua added.

    A copy of EO No. 175 can be accessed in the Official Gazette.

    Source: https://www.pna.gov.ph/articles/1177757

  • If you wish to settle in the Philippines and you are at least 35 years old, you may apply for a Special Resident Retiree’s Visa (SRRV).

    The SRRV is granted by the Philippines Retirement Authority (PRA), and you may reside indefinitely in the Philippines with free entry and exit. Once the permit is issued you will receive a PRA ID card, that must be renewed annually.

    The program comprises three categories, under which you may get your resident visa if you have a pension or you make a deposit at a local bank, or a combination of both.

    Holding this visa, you may be able to work in the Philippines, as long as you get an Alien Employment Permit (AEP).

    Under this program, you will also benefit from an income tax exemption over your pension and annuities, customs duties exemptions with regard to the importation of household goods and personal effects up to US$7,000, and a travel tax exemption if you stay in the Philippines less than one year from the last entry date. SRRV HUMAN TOUCH

    This SRR visa catgory is aimed at ailing retirees. It requires you to have a monthly retirement benefit of US$1,500 and maintain a fixed US$10,000 deposit in an approved retirement account. This money must stay untouched for the totality of your stay in the Philippines, though it can be withdrawn after you leave.

    Repatriation of the deposit including invested profits, capital gains and dividends accrued from investments are guaranteed, upon compliance with Bangko Sentral rules and regulations.

    Deposits may be converted to Philippine Pesos (PHP) 30 days after the visa's issuance. Deposits should be made at one of the following financial institutions: Development Bank of the Philippines (DBP), Allied Bank, Philippine National Bank (PNB), Pacific Star Branch Only, Bank of China, Korea Exchange Bank, Tong Yang Bank and Unionbank.

    The visa bank deposits are for the principal retiree and 1 dependent (spouse or unmarried children below 21 years old). Additional dependents are not allowed under this SRRV category.

    To be eligible for Philippines naturalization, you must have resided in the country at least 10 years, not have been convicted of any crime during this period, own real estate worth not less than PHP5,000 or have a lucrative business, profession or lawful occupation, be able to speak Tagalog or English or Spanish and have enrolled your minor children in any of the public or private schools recognized by the Bureau of Public Schools of the Philippines. Additional requirements may apply.

    • Be at least 35 years old.

    • Certification by PRA shortlisted bank of the requisite deposit.

    • DFA Medical Examination Form No. 11 accomplished by a licensed physician from the applicant's place of origin, including AIDS Test, duly authenticated by the Philippine Embassy/Consulate posted there or PRA Medical Certificate (RSSC Form No. 002) accomplished by a licensed physician in the Philippines.

    • Police Clearance, duly authenticated by the Philippine Embassy/Consulate, issued abroad or National Bureau of Investigation (NBI) Clearance, issued in the Philippines.

    • Certificate of Retirement Benefits.

    • Health Insurance Policy acceptable in the Philippines.

    • Original and photocopy of passport

    • Medical Certificate

    • Original Bank Reference Letter (Not older than 6 month)

    • Bank Statement

    • Original Police Clearance Certificate

    • Six passport-size photos

    • Original or Certified copy of Marriage Certificate (if applicable)

    • Original or Certified copy of Birth Certificate (if applicable)

    • Proof of pension

    • Documents certifying pensioner status

    • Evidence of Health Insuranceiption