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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.
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