Bureau of Immigration, Tourism body sign accord for special investor's visa

MANILA, Philippines - Foreigners who have set up businesses within the tourism enterprise zones or tourist spots in the country will be required to secure a special investor’s resident visa (SIRA) from the Bureau of Immigration (BI).

The BI and the Tourism Infrastructure and Enterprise Zone Authority (TIEZA), formerly Philippine Tourism Authority (PTA), are fine tuning the implementing rules and regulations that will facilitate the issuance of visas to these foreign investors.

BI officer-in-charge Ronaldo Ledesma said that by coming out with the SIRA they hope to help in the government’s efforts to boost the country’s image not only as a prime tourist destination, but a favored place to do business.

The memorandum of agreement between the BI and TIEZA was formalized last week. The signatories were Ledesma and TIEZA vice chairman and chief operating officer Mark Lapid. The memorandum conforms with the National Tourism Act of 2009 that aims to make the Philippine tourism industry more globally competitive.

TIEZA is tasked to designate, regulate and supervise tourism enterprise zones (TEZs) as well as develop, manage and supervise tourism projects in the country. It is authorized to grant fiscal and non-fiscal incentives to tourism investors and registered tourism enterprises.

It was agreed that the BI would coordinate with the TIEZA in implementing rules and regulations on the employment of foreigners in the said zones and the issuance of special investor’s resident visa (SIRV).

“The rules will be designed in such a way that it will not be prone to abuse by foreigners who will benefit from the incentive,” Ledesma said.

BI-Makati extension office chief Estanislao Canta, whose office processes SIRV applications, said that a BI-TIEZA technical working group will be created to formulate the guidelines.

The TEZs would be set up in major tourist destinations like Cebu, Davao, Bohol, Laguna, Cavite, Boracay, Palawan and Iloilo , Canta said.