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Philippines Special Resident Retiree's Visa - Permanent Residency Last as long as your Investment


Case: 

Malaysian Client who have completed the Cyprus Citizenship by Investment program for his tax planning and asset management plan. He requested for a visa for his passport activation and a permanent status without have to worry about going through the trouble of renewing it.

 

Brief Facts: 

A lot of the immigration officers in the custom ban the entry of empty passport holders, as they believe it represents illegal obtained second passport, fake identity and etc. Philippines Special Resident Retiree’s Visa has multiple streams for clients with different investment budget. The deposit amount of USD 20K can be withdrawn if client decided to give up on the status. it’s sticking visa may also help may the new passports appears to be more “used” and valid.

 

Our Approach: 

Over all the popular visa options for passport activation, the client had chosen Philippines, it is because unlike Thailand which is going to implement the new global tax system from 2022 or Malaysia which is already implementing the new global tax system, the Philippines have not joined the system yet, non-do the government has a set agenda to. This, relatively bought him more time to set up effective asset plan under the new global tax system. With a Philippines Visa and obtaining a Taxpayer Identification Number later on, client had the strongest explanation and reasonable cause when financial institutions & banks conduct due diligence on his profile upon account opening.

 

Result: 

The Philippines Special Resident Retiree’s Visa (SRRV) was granted in 8 weeks, client went to the Philippines took care of his visa and Taxpayer number during his vacation in Cebu. He then fell in love with the environment, considering the impact of the “one belt one road” of China, client is now considering to expend his business to Philippines with his SRRV visa.

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