Did you know that although residency and citizenship by investment programs are our bread and butter, there are still a large number of opportunities that consistently fly under the radar of potential investors.
This is where our post for today comes into play, as we have a program lined up to share with you which you probably are not familiar with, which is as exciting for us as it should be for you.
So, what is it? Put simply, it's the Philippines' Special Residence Investor Permit program, otherwise known as SIRV.
Why the Philippines?
First and foremost, the nation is an archipelago of more than seven thousand individual islands, showing the vastness of opportunity for adventure to be found in the Pacific country. Additionally, the Philippines is only 500 miles out to sea off the coast of Vietnam, meaning you're not far at all from other nations in the region and this accessibility further makes the Philippines attractive for relocation.
But let's not focus only on traveling, another important factor is how comfortable you'll feel in your new home, which is where the links the Philippines has with the west becomes interesting. How? You may be wondering. Well, as a former Spanish colony and having just under half a century of US influence, there are many hallmarks of western culture which remain present to this day, including English as an official language, taking away and language barrier concerns you may have had up until now.
Am I eligible to apply?
Luckily for you, this golden visa does not come with an extensive list of criteria, in fact, we can list them below at no great length:
Be over the age of 18
Be able to prove a clean criminal record
Be able to invest US$75,000 into an industry which has been pre-approved
Now, the SIRV is only a temporary residency, meaning it does not grant you an indefinite stay, however, there is scope to migrate your status from temporary resident to indefinite resident upon the expiration of the SIRV, so don't worry about only being able to relocate for 6 months and then having to leave.
Though, one thing to mention is that the indefinite residency is dependent on your initial investment, meaning so long as you maintain it there is no issue, but remember that this status is different to permanent residency where you would no longer be required to hold your initial investment.
Also, to give you a little more insight into what the 'pre-approved sectors' for investment include, finance, communication, construction, education and environmental science are all included, demonstrating your broad investment options.
Are there any other benefits I can gain access to?
In a word, yes! This is the part you've probably been waiting for, as with all programs of this kind, they offer their own distinguishing elements which really set them apart for investors on the global stage, and the Philippines' SIRV is no different.
Here are some of the benefits summarised below:
You only make your investment once your SIRV has been granted
Citizenship is available in 10 years so long as you have lived there, own US$1000 of property and have no criminal record
You can also become a citizen by fast-track if you comply with one of a number of criteria, which include: if you marry a citizen, are a teacher, or have established new industry in the country
The economy is consistently growing between 6-7% per annum
Affordable high quality of life and facilities
Idyllic weather and landscape
So, if you are interested in finding out more about the pathway to residency through investment in the Philippines, as well as other opportunities to develop your business, contact us today! Below this article, you will find a link to set up a free fifteen-minute consultation with us to discuss your options further.
Also, if you want to access our other great content, subscribe to our YouTube channel! At Creimerman, our team of professional global citizens would be happy to help you with your personal or professional cross-border ventures and help make them a success.