What is Philippine Economic Zone Authority (PEZA 47) Visa?
In November 2021, the Philippine Economic Zone Authority (PEZA) implemented a new work visa for foreigners who work in the Philippines by companies registered with PEZA. This significant update stipulates that foreign workers and investors conducting business in the Philippines must obtain a PEZA visa, replacing the previous 47(a)(2) visas. PEZA is an investment promotion agency that facilitates foreign investors’ investment processes in the country. It is one of 19 IPAs offering specific fiscal and non-fiscal incentives, including exemptions from value-added tax (VAT), income tax holidays, among others.
What is the Validity Period of Philippine Economic Zone Authority (PEZA 47) Visa?
When applying for a PEZA visa, the required processing time is ten (10) days, marking a notable improvement from the previous one-month waiting period. Subsequently, the visa granted is valid for two (2) years, with the option for renewal once for an additional two (2) years. However, the maximum validity period is four (4) years, necessitating a reapplication for a PEZA visa thereafter.
What Will Happen If My Philippine Economic Zone Authority (PEZA 47) Visa Expired?
Foreign employees possessing a valid 47(a)(2) visa and employed under a PEZA-registered company may continue using their existing visas until expiration. Upon expiration, they must apply for a PEZA visa, provided they still meet the qualifications for employment in the Philippines. However, applicants seeking to replace an expired 47(a)(2) visa with a PEZA visa should be aware that they will be treated as new PEZA visa applicants.
Can I Still Use My Philippine Economic Zone Authority (PEZA 47) Visa After Ending My Employment?
Upon the end of their employment, PEZA visa holders are required to downgrade their visa status to a 9(a) tourist visa, which is valid for approximately 59 days (equivalent to two months). In this regard, their PEZA visa must be officially canceled. The foreign employee must then obtain an “order of cancellation” from the PEZA and depart the country before their tourist visa expires. Furthermore, the foreign employee’s sponsor must inform the PEZA within five (5) days following the termination of the employee’s tenure with the company.
Duran & Duran-Schulze Law Can Help!
Seeking advice from a legal professional or law firm is essential when considering the qualifications, prerequisites, and procedures for the Philippine Economic Zone Authority (PEZA 47) Visa. At Duran & Duran-Schulze Law, we specialize in immigration and corporate law. Our firm offers thorough assistance and specialized knowledge to guide clients through the intricacies of the PEZA 47 process, ensuring adherence to all legal stipulations.
Documentation Assistance
Duran & Duran-Schulze Law assists clients with the preparation and compilation of required documentation for the PEZA 47 Visa application. This may include drafting and reviewing application forms, employment contracts, business plans, and other supporting documents required by the Philippine Economic Zone Authority (PEZA) and other relevant government agencies.
Compliance and Monitoring
Once the PEZA 47 Visa is obtained, Duran & Duran-Schulze Law helps clients ensure ongoing compliance with visa requirements. We provide guidance on the obligations associated with maintaining the visa, such as employment and investment requirements, and assist clients in navigating any changes or updates to visa regulations.
Appeals and Revocations
In case of any challenges or issues with the PEZA 47 Visa, such as visa denials or revocations, our reliable lawyers assist our clients in appealing decisions and representing their interests in legal proceedings. They also provide legal strategies to address adverse actions taken by authorities and seek resolutions in the best interests of our clients.
Need further information and assistance regarding Philippine Economic Zone Authority (PEZA 47) Visa? Talk to our team at Duran & Duran-Schulze Law to know more about the requirements and process. Call us today at (+632) 8478 5826 or +63 917 194 0482, or send an email to info@duranschulze.com for more information.