The Aurora Pacific Economic Zone and Freeport Authority (APECO) in the Philippines has announced the official cancellation of its Special Resident Visa (ASRV) program. Gil Gianan Taway IV, President and CEO of APECO, stated that the visa policy "had no legal basis from the start" and revealed that nearly 700 visa holders have received cancellation notices.
Since taking office in October 2023, Taway mentioned that APECO has conducted a comprehensive review of the visa program, discovering serious procedural flaws in the issuance of ASRV and its extensions, including the APRV permanent residence visa and the ADV dependent visa, lacking proper legal authorization and essential application documents. He emphasized that according to Republic Act No. 9490 and its amendment No. 10083, APECO is not authorized to issue residency visas, a power that belongs to the Bureau of Immigration, not the economic zone authority.
So far, 689 cancellation notices have been issued, covering individuals of various nationalities. Taway stressed that this policy "is not targeted at any specific country" and applies to all existing visa holders. He also revealed that since April this year, the cancellation notices have been distributed in phases through the postal system.
Regarding the legal consequences of the visa cancellations, APECO has submitted the list to the Bureau of Immigration for processing. The affected individuals are expected to face downgrading of visas or even deportation orders, although deportation procedures will not necessarily start immediately unless they are involved in criminal activities. Taway noted that as a non-immigration law attorney, his team has referred most issues to the Bureau of Immigration.
As for the refund of the original visa application fees, Taway clarified that APECO did not collect any application fees of $40,000 or $50,000, and only 30,000 pesos were recorded in the official accounts. He urged applicants to seek reimbursement from the collecting agents or relevant parties, as APECO is not responsible for these fees.
While APECO still retains the authority to issue investor visas and work visas, Taway emphasized that these visas are also under review to verify whether applicants truly meet the required $150,000 investment threshold.
With the formal cancellation of the ASRV visa, APECO has fundamentally adjusted its policy framework towards foreign nationals, a move expected to spark widespread attention and discussion among the foreign investor community in the Philippines.
