The new "Regulations on the Implementation of the Law of the People's Republic of China on the Protection of the Rights and Interests of Returned Overseas Chinese and Their Relatives," promulgated by Premier Wen Jiabao, came into effect on July 1, 2004. These regulations fully embody the rights that overseas Chinese should enjoy within China and the protection provided by government agencies at all levels for the interests of overseas Chinese. Therefore, once you possess permanent residency status in the Philippines, you can enjoy all the preferential policies granted by the Chinese government to overseas Chinese, as well as numerous rights and interests in the Philippines, which are primarily reflected as follows:
1) By investing in China as a foreign investor or overseas Chinese, you can enjoy various preferential policies granted by the Chinese and local governments to foreign-invested and overseas Chinese-invested enterprises.
2) You and your children can enjoy the rights and interests stipulated in the many clauses of the "Law on the Protection of Overseas Chinese," including employment, education, and property protection for overseas Chinese and their children.
3) You can travel freely between China and the Philippines, facilitating the development of WorldWay and expansion into overseas markets. The funds deposited in the Philippines for the SRRV visa can be utilized after 6 months.
4) Your children can participate in the domestic college entrance examination (Gaokao) as overseas Chinese students, avoiding the intense domestic competition and easily gaining admission to their ideal majors at prestigious domestic universities. Generally, very few students from Hong Kong, Macau, Taiwan, and overseas register for the Gaokao each year; the admission score requirements are far lower than those for ordinary domestic students, and the difficulty of the exam papers is significantly lower than that of the domestic Gaokao. Universities have flexible admission quotas for overseas Chinese students. With the general academic level of domestic students, taking the exam for overseas students almost guarantees a high score, allowing for easy admission to your ideal university. (You may search online for the "Prospectus for the Joint Enrollment of Overseas Chinese, Hong Kong, Macau, and Taiwan Students by Ordinary Higher Education Institutions of the People's Republic of China").
5) If your children attend university in the Philippines, they do not need to apply for a student visa. The education penetration rate in the Philippines is far higher than in China, and there are many world-renowned universities to choose from (their degrees are recognized by the Chinese Ministry of Education). Furthermore, the costs of tuition and living are low.
6) Once you possess the SRRV permanent residency status, it is easier to apply for third-country visas, which facilitates your migration to other countries and regions.
7) Those who invest in the Philippines or hold an SRRV permanent residency visa can work in the Philippines and purchase real estate, with rights that are permanently valid for future generations.
8) Once you hold an SRRV permanent residency visa, as an overseas Chinese, you may plan the birth of your children according to your family's needs.
IV. Characteristics of Processing Philippine Immigration
1) Processing a Philippine SRRV permanent residency visa is different from other developed countries; there are no requirements for the applicant regarding education, foreign language proficiency, or age.
2) The capital investment required for processing a Philippine SRRV is low.
3) The processing speed is fast (it can be completed in about half a month), allowing you and your children to easily join the ranks of overseas residents and quickly enjoy the relevant preferential policies of the country, which is particularly beneficial for your children's education and the well-being of future generations.
