The Philippine Economic Zone Authority (Peza) will be able to issue two-year visa for foreign investors and workers in the economic zones after inking a partnership with the Bureau of Immigration (BI).
In a news statement issued on Friday, the ecozone regulator announced that the recent signing of a memorandum of agreement with BI is in line with the law on ease of doing business.
“This [will now] allow Peza to issue working visas to our foreign investors, non-resident foreign employees of Peza-registered ecozone enterprises, and their respective qualified dependents,” Peza Director General Charito Plaza said.
Beginning December 1, Peza and BI will cut the processing period of visa approval from 1 month to 10 days.
“The Peza-Visas [PVs] will serve not only to facilitate the conduct of businesses in Peza-registered ecozones, but [would] also highlight the many measures that have been taken by the national government to ensure the ease of doing business [EODB] throughout the country,” BI Commissioner Jaime H. Morente said.
Both agencies will set up a one-stop shop that will expedite the processing, approval and issuance of the visas.
Plaza said that “qualified national employees working in any of our ecozones can also avail our PVs and is co-terminus with the validity of the PV of the principal foreign investor or employee.”
The documentary requirements for the foreign Peza workers include a notarized application form, notarized company’s letter request addressed to the Peza Director General, checklist of application for PV extension or change of admission, certified true copy of Peza Certificate of Registration and photocopy of the foreign applicant’s passport, among others.
Their dependents, meanwhile, must submit a notarized application form, photocopy of their passport, Philippine embassy/consulate or PSA (Philippine Statistics Authority)-issued birth and marriage certificates, and notarized Affidavit of Support/Guarantee which is executed by the Peza-registered company’s president or vice president.
Peza said this initiative is also aligned with the country’s reopening of the economy amid the easing of lockdown measures.
“Partnerships such as this are most helpful and productive for the Bureau especially this is a joint effort that incorporates the needs of Peza and its locators as well as the mandate of BI with regards to foreign nationals,” Morente said.
Image credits: PIA CAR