Section 7. Incentive to Investors. —

Any foreign national who invests an amount of One hundred fifty thousand US dollars (US$150,000.00), either in cash and/or equipment, in a registered enterprise shall be entitled to an investor's visa: Provided, That he has the following qualifications:

1. He is at least eighteen (18) years of age;

2. He has not been convicted of a crime involving moral turpitude;

3. He is not afflicted with any loathsome, dangerous or contagious disease; and

4. He has not been institutionalized for any mental disorder or disability.

As a holder of investor's visa, an alien shall be entitled to reside in the Philippines while his investment subsists. For this purpose, he should submit an annual report, in the form duly prescribed for the purpose, to prove that he has maintained his investment in the country, should said alien withdraw his investments from the Philippines, then the investor's visa issued to him shall automatically expire.