What are the Advantages of Obtaining the ASRV in the Philippines?
The APECO Special Resident Visa (ASRV) allows individuals to establish permanent residence in the Philippines. It is authorized directly by the Philippine government within the APECO Economic Zone. The Aurora Special Economic Zone (APECO) is a designated initiative under Republic Act No. 9460 and Republic Act No. 10083 aimed at fostering local economic development. This visa can be obtained through the purchase of real estate or by entering into a contract allowing the foreign individual to reside within the Aurora Economic Zone for a minimum of five (5) years.
In order to obtain an ASRV, the applicants must undergo biometrics or fingerprinting, which determines whether they will be issued a blue card or red card, after paying the necessary fees. The blue card is issued by APECO, while the red card is known as an ACR I-Card. The ACR I-Card is a residence identity card mandated for foreigners staying in the Philippines beyond 59 days. Notably, applicants who will not undergo the standard process can still apply by submitting a copy of their passport, albeit with an increased fee.
The ASRV in the Philippines offers a myriad of benefits. Firstly, there’s no age limit, making it accessible to individuals of all ages. Holders of this visa enjoy a range of privileges, including the right to study, work, establish a company, and conduct business within the country. Additionally, the processing period for obtaining this visa is notably short. It’s an open-ended arrangement, ensuring guaranteed permanent residency.
Moreover, visa holders have the freedom to enter or leave the country at their convenience and stay long-term. They also have permission to access various financial services, such as high-interest bank accounts, credit cards, life insurance, securities, and loans for homes or cars. This visa is particularly advantageous for structuring and preserving assets, given the low inheritance tax rate of 6% in the Philippines compared to 55% in Japan. This facilitates diversified asset distribution between the Philippines and one’s home country, reducing the applicant’s risk profile significantly. In addition, holders of this visa gain APECO resort membership, which includes complimentary accommodation and access to resort facilities.
Duran & Duran-Schulze Law Can Help!
A lawyer or law firm can be instrumental in assisting an individual in obtaining a special permanent residency visa in the Philippines by providing comprehensive legal services and guidance throughout the application process. At Duran & Duran-Schulze Law, we specialize in immigration law and have in-depth knowledge of the specific requirements and procedures for obtaining a special permanent residency visa in the Philippines. We also offer expert advice tailored to the individual's circumstances.
Application Process Assistance
Duran & Duran- Schulze handles the entire application process on behalf of our clients, from filling out forms to submitting the application to the appropriate government agencies. This minimizes the risk of errors or omissions that could delay or jeopardize the application.
Legal Representation
In case of any issues or complications during the application process, such as requests for additional information or interviews, our knowledgeable lawyers can represent our clients’ interests and advocate on their behalf to ensure a favorable outcome.
Legal Compliance
Immigration laws and regulations can be complex and subject to change. Duran & Duran-Schulze Law ensures that our clients remain in compliance with all legal requirements throughout the application process and beyond, helping to avoid any potential pitfalls or complications.
Need further information and assistance regarding Special Permanent Residency Visa (ASRV)? 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.