The key word here is “in”. Work in the Philippines. Does BI mean work for a company in the Philippines or does it mean any type of work? Their website clears up this confusion.
http://boi.gov.ph/ufaqs/14-as-an-investor-what-visa-can-be-issued/Work Permit section
In general, a foreign national seeking employment in the Philippines, whether resident or non-resident, must secure an Alien Employment Permit (AEP) from the Department of Labor and Employment (DOLE).
A local employer who wishes to employ a foreign national must apply on the foreign national’s behalf with the DOLE for the permit. The petitioning company must prove that the foreign national possesses the required skills for the position and that no Filipino is available who is competent, able and willing to do the specific job for which the foreign national is desired.
You can see that BI means working for a company in the Philippines. The company must apply for the AEP on my behalf. I don’t work for a local company. We must look at the intent of BI and not assume “work in” means any work done in the Philippines. Of course, BI could change their definition at any time but that’s the way I’m reading it (and their website shows that).
A 9(G) visa allows foreigners to enter the Philippines to engage in a lawful occupation. In general, it must be shown that the services of the foreigner are indispensable to the management, operation, administration or control of local or locally based firms. Companies must petition for their employees to obtain this visa.
Alien Employment Permit (AEP)
An Alien Employment Permit (AEP) is a document issued by the Philippines Department of Labour and Employment that allows a foreign national to work in the Philippines. This is normally applied for in tandem with a 9(G) employment visa.
An employee must be petitioned by his/her company and it must be shown that no person in the Philippines is willing or competent to perform the service for which the foreign national is hired.