Philippines offers attractive alternative to Thailand’s 10 year LTR visa
The Philippines launched a Special Investors Resident Visa (SIRV) offering permanent residency to any foreigner who invests at least US$75,000 in business or securities.
The visa reaps more rewards for a smaller investment than Thailand’s 10 year Long Term Resident (LTR) visa, which hasn’t attracted as much attention as initially hoped since its launch last month.
Once a foreigner has invested in the Philippines, they are immediately awarded residency – something that Thailand does not offer. The SIRV holder, their spouse, and children can freely enter and exit the Philippines whenever they desire, forever.
Whereas, investors applying for a 10 year visa in Thailand are required to have assets worth 36.5 million baht (US$1 million), an annual income of about 3 million baht (US$80,000) per year, and an investment in Thailand worth 18.3 million baht (USS$500,000).
For pensioners to qualify for Thailand’s LTR visa, they need to be aged at least 50 years old and have an annual income of about 1 million baht and an investment of about 9.1 million baht (US$250,000).
Remote workers applying for the Thai LTR visa should be employees of qualified overseas companies with an income of 3 million baht per year or a personal annual income of 1.5 million baht, have a master’s degree, hold intellectual property assets or receive Series A funding.
The same goes for highly skilled professionals applying for Thailand’s LTR visa. They must bring in a similar income or hold a master’s degree in science and technology.
Malaysia is offering a 20 year Premium Visa Program (PViP) for an investment of US$220,000. The country also offers a ‘Malaysia My Second Home’ (MMSH), for anyone at least 35 years of age, which has liquid assets equating to around $320,000 and a monthly income of at least US$8600.
Cambodia offers the Cambodia My Second Home visa (CM2H) offering possible citizenship to any investor who generated US$100,000. Applicants must invest in property with the Khmer Home Charity Association. The visa offers a work permit, as does the Thai LTR.
The Philippines and Malaysian counterparts do not offer an automatic work permit.
Singapore is launching a five-year visa programme in January to attract foreigners earning around US$30,000. “Exceptional candidates” in sports, arts, science and academics who do not meet the salary criteria are also eligible to apply, under the Overseas Networks and Expertise (ONE) pass, effective January 1, 2023.
SOURCE: Pattaya Mail
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