The plan allowed foreigners as young as 35 years old to reside as retirees
The Philippines suspended processing retirement visas for foreigners after senators said they were worried about the high number of people in their 30s arriving from China.
The Philippine Retirement Authority is reviewing its special resident retiree’s visa program and halted applications, the agency said on its website. The plan allowed foreigners as young as 35 years old to reside in the Southeast Asian nation as retirees.
About 28,000 Chinese nationals have been granted retirement visas, accounting for 40 per cent of the total and raising security concerns among senators in a budget hearing this week, the Philippine Daily Inquirer reported.
BLOOMBERG / GULF NEWS