Hi ANATOLI As a general rule, anyone regardless of nationality may invest in the Philippines. However, foreign nationals enrolled in the Retirement Program are, under the Authority’s existing Implementing Investment Guidelines, permitted after a holding period of 30 days from the issuance of the SRR Visa, to convert their time deposit/s into active investment/s in any or a combination of the following investment areas,
1. Purchase or acquisition of a condo unit anywhere in the Philippines;
2. Long-term lease of house and lot for a period not shorter than 20 years; and
3. Purchase of golf or country club shares, I assumed the more prestige and well known golf club, just be alert anyone who had few hectare of land can convert into a golf club. Investments by retirees outside the PRA program using other funds separate and distinct from the qualifying dollar time deposit may be allowed depending on the business structures of their choice e.g. sole proprietorship, partnership, corporation or branch office subject to compliance with existing laws and the Foreign Investments Act. Foreign ownership of up to 100% is allowed for export enterprises. Export enterprises are defined as those businesses wherein at least 60% of output is exported.
For domestic market enterprises, foreign ownership is allowed up to 100%, except for specific areas listed under the Foreign Investments Negative List. Under the Negative List, investment is limited up to 40%. For more information on domestic market enterprises (without any export activity) and/or registering a business as a sole-proprietorship under the Foreign Investments Act of 1991 please visit the Department of Trade and Industry website at http://www.dti.gov.ph.
If you will be joining a corporation or forming one; please visit the Securities and Exchange Commission (http://www.sec.gov.ph) or the Philippine Economic Zone Authority (http://www.peza.gov.ph) websites.
If your products is at least 70% for export or if the activity is among those listed in the Investment Priorities Plan (IPP), please visit the Board of Investments website at http://www.boi.gov.ph
RETIREE INVESTOR
Once an applicant decides to invest in the Philippines, we can assist in the following:
1. Pre-processing & Evaluation of the application for the conversion of the dollar time deposit into an investment;
2. Annotation of the PRA restriction on the title representing the investment with the Register of Deeds (RD);
3. Processing and Approval of the investment application within five (5) working days.
Investment Areas for Retirees
A retiree can choose to invest their required deposit through the following means:
1. Purchase of a condominium unit;
2. Long-term lease of a parcel of land or house and lot;
3. Purchase of proprietary shares in golf or country clubs.
NOTE: For former Filipinos, purchase of a lot not exceeding 5,000 square meters in urban areas or three (3) hectares in rural areas to be used for business or other purposes.
DEVELOPER
The Philippine Retirement Authority is always looking for new partners that would assist in its efforts to provide world-class services to its resident-retirees, as well as developing the local retirement industry.
The PRA is currently looking for partnerships with the following: Hotels, Condominiums, Apartments, Resorts, Housing Facilities and Retirement Facilities with or without Caring Services.
All this policy are cast in stone , as for us our retirement packages we are dealing with the software parts the the basic psychology. Even the thought of leaving your comfort zone or circle of fear induces stress and sweat. Our retirement orientation packages mostly toward area like Four steps guideline that leaving your comfort zone. Which I myself had experienced the Up and down of staying here.
1. Figure out why you're leaving comfort zone.
2. Accept that you'll feel uncomfortable and anxious doing your new thing. Be prepared for the worst.
3. Enlist support: friends, family, colleagues, books, groups - whatever it takes. Don't go at it alone.
4. Persevere. You're leaving what you know, which can be emotionally and mentally draining. Don't give up until you get the results you want or at least you know that retirement to Philippine is really what you want. Let they say life is not bed of roses and sometime the grass is always look greener on the other side or is IT ? SO WHY the rush just spend a month with us you might like it or break it . lol
