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LETTER OF INSTRUCTIONS
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LETTER OF INSTRUCTIONS NO. 1470 -
DIRECTING THE ISSUANCE OF A SPECIAL RESIDENT RETIREES VISA AND THE
ESTABLISHMENT OF A RESIDENT RETIREES PROCESSING CENTER |
The Ministry of Foreign Affairs
The Ministry of Tourism
The Ministry of Finance
The Central Bank of the Philippines
The Commission on Immigration and Deportation
The Bureau of Customs
The Bureau of Internal Revenue
WHEREAS, the Philippine economy is undergoing structural changes and there is an urgent need to look into non-conventional programs to attract foreign exchange;
WHEREAS, the development and promotion of the Philippines as an alternative retirement haven for overseas Filipinos and foreign nationals is a concept that has been tried and proven as a great source of income and foreign exchange and has emerged into an international service industry;
WHEREAS, there is a need to create a "one-stop-shop" facility for resident retirees which may otherwise be discouraged by the maze of various government regulations and, eventually, lost to international competitors;
WHEREAS, there is a need to issue non-immigrant multiple-entry visas to qualified resident retirees who shall participate in the program;
NOW, THEREFORE, I FERDINAND E. MARCOS, President of the Philippines do hereby direct and authorize:
1.
The Commission on Immigration and Deportation of the Ministry of
Justice and the Ministry of Foreign Affairs to issue a non-immigrant
multiple-entry visa called Special Resident Retiree Visa to overseas
Filipinos and foreign nationals who will participate in the programs of
the Philippine Retirement Park System.
2. The
Commission on Immigration and Deportation to allow holders of Special
Resident Retiree Visa to reside in the Philippines for the duration of
his participation or membership in the programs of the Philippines
Retirement Park System.
3. The
creation and management of a Resident Retirees Processing Center by the
Philippine Retirement Park System for the purpose of expediting the
application, processing and issuance of special resident in retirees
visas and the disposition of any problems related to resident retirees.
4. The
Philippine Retirement Park System may call upon the Ministry of Foreign
Affairs, the Bureau of Customs, The Central Bank and the Commission on
Immigration and Deportation, for each of them to detail a senior
officer with appropriate and sufficient authority to the Resident
Retirees Processing Center to process the documents required and attend
to the needs of the resident retirees.
5. Other
ministries, instrumentalities and corporations of the government to
assist and cooperate with the Resident Retirees Processing Center as
may be called upon by the Philippine Retirement Park System.
6. The
Ministry of Finance to coordinate with the Philippine Retirement Park
System for the development of the tax incentives for the participants
of the program and other schemes that would maximize the foreign
exchange generated herewith.
DONE in the City of Manila, this 4th day of July in the year of Our Lord, Nineteen Hundred and Eighty Five.
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