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PRESIDENTIAL DECREE NO. 1893
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PRESIDENTIAL DECREE NO. 1893 -
FURTHER AMENDING PRESIDENTIAL DECREE NO. 1623 ENTITLED "AUTHORIZING THE
ISSUANCE OF SPECIAL INVESTORS RESIDENT VISAS TO ALIENS AND FOR OTHER
PURPOSES," AS AMENDED
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WHEREAS,
there is a need to further liberalize the investment requirements for
aliens desiring to obtain special Investors Resident Visas in the
Philippines.
NOW, THEREFORE, I, FERDINAND E. MARCOS, President of the Philippines,
by virtue of the powers vested in me by the Constitution, do hereby
order and decree the following: chanroblesvirtualawlibrary
Section 1. Section 1, Paragraph 4 of P.D. No. 1623,
as amended, is hereby further amended to read as follows:cralaw:red
"4. He is willing and able to invest the amount of at
least US$75,000 in the Philippines; provided, however, that for
purposes of compliance with this particular condition, the
alien-applicant should prove that he has remitted such amount in
acceptable foreign currency to the Philippines." chanroblesvirtualawlibrary
Section 2. This Decree shall take effect immediately.
Done in the City of Manila,
this 13th day of December, in the year of Our Lord, nineteen hundred
and eighty-three.
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