Philippines Introduces New Economic Zone Authority Visa for Foreigners

In November 2021, the Philippines Economic Zone Authority (PEZA) introduced a new work visa for foreigners who are sponsored to work in the Philippines by companies registered with PEZA.

Under the new PEZA visa, foreign investors and workers must now obtain a PEZA visa in lieu of 47(a)(2) visas. The PEZA applications are processed within 10 business days (from the previous time of 1 month) and the visa is valid for up to two years with the option of renewing once for another two years, for a maximum validity period of four years.

Applicants looking to shift from an expired 47(a)(2) visa to a PEZA visa should know that they will be treated as new PEZA visa applications.

PEZA is one of 19 investment promotion agencies (IPA) tasked with assisting foreign investors to facilitate their investments in the Philippines. Each IPA offers its own fiscal and non-fiscal incentives ranging from…