EO 758 Investors Visa signed by GMA!
November 18, 2008 by admin
Filed under Pinoy News and Culture, Recent Posts
The liberalization of on the rules of issuance of non-immigrant visas to foreign investors was signed yesterday by President Gloria Macapagal Aroyo in Malacanang. EO 758 which will pave way for a special visa for employment generation (SVEG) that would now be available for non-immigrants who are engaged in business or will be setting up business in the country.
Under the EO, the investors who is applying for SVEG is required that the applicant should be able to at least 10 Filipino employees in a legitimate and sustainable business enterprise before they will be issued a visa. That means that it is going to be easier for them to obtain a visa in doing business here in the country and in doing so jobs will be created for the locals.
This is a very good news not just for foreign investors but also for the Philippines since jobs will be created and small foreign investors can do their business here easily. More investors means more jobs to be created and it will eventually bring in new technology and new capital.
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