No-visa entry in 157 countries for Filipinos with million

A high-rolling Filipino passport holder who coughs out R20 million investment in real estate gets citizenship in a Caribbean country to get visa-free access to 124-136 countries covering Europe, Canada and China.

A Filipino passport ranks 75th in the world and provides visa free access to just 61 countries, according to the Henley & Partners Visa Restrictions Index 2017.

Thus, the Philippine market for residenceand citizenship-by-investment (CBI) programs shows significant potential, says Dominic Volek, Director of Henley & Partners Singapore and Head South East Asia.

Already, a growing population of high net worth individuals (HNWIs) who are very well-travelled, are interested in CBI programs because they can afford it and because Filipinos are allowed to hold dual-citizenship.

“Our typical clients are wealthy entrepreneurs and international investors who are cash rich and time poor,” he explained. “A CBI program allows them to obtain a second citizenship without spending significant time in another country.”

CBI programs in the Caribbean, specifically in Antigua, Barbuda, Grenada, Saint Kitts and Nevis as well as Saint Lucia which attract wealthy Filipinos due to the mobility that the passports of these countries provide.

In the same way, Filipinos get into CBI programs to acquire citizenship in Malta or Cyprus – both countries being members of the European Union (EU).

A citizenship in either country provides the right of settlement in all 28 EU member states, giving wealthy Filipinos and their families the right to live, work, study and retire throughout Europe.

“Antigua is the only passport in the Caribbean with visa free access to Canada which our Filipino clients like. Grenada is also popular as it is one of very few passports around the world that has visa free access to China and requires a real estate investment of just USD 350,000,” he noted.

In Europe, their Filipino clients prefer the Cyprus CBI program because it’s a real estate investment for just three years for a minimum amount of UER 2 million. The passport provides visa free access to 157 countries as well as settlement freedom throughout the EU.

The Malta CBI program is another popular program as the passport provides visa free access to 168 countries including the US and Australia.

Globally, Henley & Partners globally has a 20-year track record. It started doing business in Southeast Asia four years ago. “Since then, the Philippines has been our fastest growing market,” according to Volek.