134 permanent residency applicants chosen
The Ministry of Immigration and Population has reported that out of the many permanent residency applicants in Myanmar, 134 have been chosen.
Those chosen will undergo face-to-face interviews in Nay Pyi Taw and after that they will become the first ever applicants to be approved.
"It will be the last phase of the process to personally investigate the chosen 134 in order to finalise their status as PRs [permanent residents] and as soon as the investigations are done, they will officially be permitted as PRs," said a spokesperson from the ministry’s Yangon permanent residency department.
The application for PR status is barred to those who have been previously registered as an international refugee, political refugee or those with a track record of domestic or international criminal offences.
The categories for permanent residency are scholars, businessmen, ex-citizenship holders and spouse or relatives of citizens.
A permanent resident will be charged US$1,000 per year for a foreign resident, while US$500 will be charged for ex-citizens and US$300 per year for the children aged seven to 18.
According to Knight Frank’s Wealth Report 2015, 22 ultra high-net-worth individuals (UHNWI) are currently residing in Yangon. The report also predicts that Yangon will lure more millionaires, enough to make it one of the "four cities of future". The report names Yangon; Belgrade, Serbia; Panama City; and Addis Ababa, Ethiopia, as the cities of future.
