Visa Issuance to Family Members
- The Special Investors Resident Visa extends to the spouse and unmarried children of the principal applicant.
- Family members must accompany or follow to join the principal applicant after his admission into the Philippines.
Rights and Conditions of Visa Holders
- Visa holders are entitled to reside in the Philippines for the duration that the investment subsists.
- Withdrawal or transfer of the investment to other areas requires prior approval from the Office of the President.
- Violation of investment conditions may result in revocation of the Special Investors Resident Visa.
Supersession of Inconsistent Laws
- Any existing laws or provisions conflicting with this decree are deemed modified, amended, or repealed accordingly.
Policy Objectives
- The decree aims to promote tourism and attract foreign investments, particularly in economically depressed areas.
- It addresses barriers in immigration policies that hinder alien investors.
- Encourages infusion of foreign exchange, real estate development, employment generation, and income opportunities.
- Selective relaxation of immigration rules is employed to stimulate economic growth and meet the demands of the populace for basic essentials.