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INVESTMENT IN HEALTH AND WELLNESS SERVICES (source: Board of Investments) The Philippines is increasingly gaining popularity as a country of destination

for medical tourism because of our world class physicians, modern technology and the Filipinos unique brand of hospitality. We are home to some of the best hospitals and stand alone specialty clinics in the world and some of the worlds best spa retreat resorts and tour destinations. With the ease and affordability of international travel and rapidly improving technology, residents of other countries can now avail of Philippine medical service at a fraction of the cost in developed countries. The Philippine government encourages Filipino and foreign investors to set up international health and wellness establishments in the Philippines. As part of its aggressive investment promotion to attract more investors in this sector, the government has created the Business Development/Brand Management for Health and Wellness under the Department of Trade and Industry (DTI). Moreover the DTI, together with the Department of Tourism, and the Department of Health has likewise partnered with the industrys major players such as the academe and service providers to come up with a comprehensive and unified development and promotion program for the healthcare and wellness industry. For its part, the Board of Investments (BOI) offers the following incentives to investors in the healthcare and wellness services. Investors must first register with the BOI in order to avail of these incentives. Fiscal Incentives Four (4) years Income Tax Holiday (ITH) on income solely derived from servicing foreign patients; Upon the expiry of the ITH period, payment of 5% Gross Income Tax on income solely derived from servicing foreign patients, in lieu of all national and local taxes, provided however, that the enterprise shall have the option to forego its ITH incentive entitlement and immediately avail of the 5% GIT incentive upon start of its commercial operation; and Tax and duty-free importation of medical equipment, including spare parts and equipment supplies, required for the technical viability and operation of the registered activity/ies of the enterprise.

Non-fiscal incentives Employment of foreign nationals, as provided under R.A. No. 7916 and other existing laws; and Special Investors Resident Visa (47A-2), as provided under Executive Order No. 63.

List of Activities that May Qualify for BOI Incentives a. Hospital / Medical Services This covers primary, secondary, and tertiary care hospitals and specialized services/hospital-based centers of excellence as per Department of Health (DOH) standards.

b. Ambulatory Surgical Services This covers services such as elective (non-emergency) surgical procedures ranging from minor to major operations, where patients are discharged within the day for continuing post-operative care. This includes comprehensive ophthalmologic, dermatologic, cosmetic, and reconstructive surgeries, etc. c. Dental Services This covers the establishment of a dental services facility offering both regular and specialized dental services orthodontic procedures, dental implants and cosmetic dentistry. d. Other Human Health and Wellness Services including Rehabilitation and Recuperation Services This covers health spa, traditional and alternative healthcare services, therapy centers, nursing care programs, and facilities for mental health. Health spa (Note: BOI only qualifies destination spa and resort spa for incentives) Traditional and alternative healthcare services - Traditional and alternative healthcare is the sum total of knowledge, skills and practices on healthcare, other than those embodied in biomedicine, used in the prevention, diagnosis and elimination of physical or mental disorder. Alternative healthcare modalities include reflexology, acupuncture, massage, acupressure, chiropractics, nutritional therapy, and other similar methods. Nursing care facility shall provide in-patient nursing, rehabilitation, and healthrelated personal care to clients who need continuous healthcare, but do not require hospital services. Mental health facility shall provide residential care services including protective supervision and counseling for persons diagnosed with mental retardation. This also covers facility for stress management program, which aims to provide a person with effective coping mechanisms for dealing with psychological stress.

e. Retirement Village This refers to areas suitable for development that will ensure healthful, safe and environmentally-sound community life with prescribed carrying capacities of village facilities and activities such as but not limited to accommodation, food, recreation, medical/health care needs, institutional insurance, security and other amenities, and provided with roads, power and water supply systems, drainage and sewerage systems and other infrastructures. The village should be under a unified and continuous management. f. Medical Zones Medical zones are selected areas, which are developed into centers for professional health care provided by physicians and nurses, for the treatment of inpatients and diagnosis and/or therapy of outpatients, inclusive of emergency medical services, with large numbers of beds for intensive care and long-term care, facilities for surgery

and childbirth, bioassay laboratories, trauma centers, childrens hospitals, seniors hospitals, and hospitals for dealing with specific medical needs. It shall include affiliation with universities for medical research and the training of medical personnel. Filipino and foreign investors who would like to set up medical and retirement zones in the Philippines with foreign patients as primary clientele, upon endorsement of the DOH, may also be considered for PEZA-registration to avail of fiscal and non-fiscal incentives provided for under the Special Economic Zone Act of 1995 (RA 7916 as amended by RA 8748). For more information about registration and accreditation of businesses and investment opportunities in the Health and Wellness sector, you may contact: DTI Business Development Manager for Health and Wellness Board of Investments 385 Sen. Gil Puyat Ave., Makati City Tel. No. (632) 895-6617 E-mail: RBCana@boi.gov.ph Website: www.boi.gov.ph

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