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Philippines Introduces New Economic Zone Authority Visa for Foreigners
In November 2021, the Philippines Economic Zone Authority (PEZA) introduced a new work visa for foreigners who are sponsored to work in the Philippines by companies registered with PEZA.
Under the new PEZA visa, foreign investors and workers must now obtain a PEZA visa in lieu of 47(a)(2) visas. The PEZA applications are processed within 10 business days (from the previous time of 1 month) and the visa is valid for up to two years with the option of renewing once for another two years, for a maximum validity period of four years.
Applicants looking to shift from an expired 47(a)(2) visa to a PEZA visa should know that they will be treated as new PEZA visa applications.
PEZA is one of 19 investment promotion agencies (IPA) tasked with assisting foreign investors to facilitate their investments in the Philippines. Each IPA offers its own fiscal and non-fiscal incentives ranging from income tax holidays to exemption of value-added tax to special visa privileges for foreign workers, among many others.
The foreign national needs the following general documents to obtain the PEZA visa:
The dependent(s) of the foreign employee must submit the following documents:
Once the applicant’s documents have been verified, the PEZA-registered enterprise will apply for the PEZA visa on behalf of the applicant to the PEZA zone administrator or manager of the ecozone where the enterprise is located.
This article was first published by AseanBriefing which is produced by Dezan Shira & Associates. The firm assists foreign investors throughout Asia from offices across the world, including in in China, Hong Kong, Vietnam, Singapore, India, and Russia. Readers may write to [email protected].
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