BI blacklists 335 'pseudo investors'

The Bureau of Immigration has blacklisted 335 foreigners whose investor visas have been revoked by the Bureau of Investments (BOI) for their failure to bring in capital as the visa privilege requires.

Immigration Commissioner Rufus Rodriguez said the "pseudo investors," mostly Taiwanese, mainland Chinese, Koreans and Indians, just used the investor visa as a convenient tool to stay indefinitely in the country.

"We have advised these aliens to leave the country voluntarily for trying to hoodwink the BOI into believing they were real investors," he said.