Special Investor’s Resident Visa (SIRV) in Philippines
The Special Investor Resident Visa (SIRV) entitles the holder to reside indefinitely in the Philippines, permitting multiple entry privileges, so long as his investments remain in the Philippines. The SIRV is issued by the Bureau of Immigration (BI) upon endorsement of the Board of Investments.
The SIRV program requires investors to remit at least US$75,000 into the Philippines and invest subject capital in favorable economic activities pursuant to Book V of the Omnibus Investments Code (Executive Order No. 226, as amended). The applicant can remit his investments through any accredited depository bank in the Philippines, i.e. the Land Bank of the Philippines (LBP) and/or the Development Bank of the Philippines (DBP).
Any foreign national, who is at least twenty-one (21) years of age, is eligible to apply for an SIRV provided he meets the following requirements: (1) he has not been convicted of a crime involving moral injustice; (2) he is not afflicted with any dangerous or contagious disease; (3) he has not been institutionalized for any mental disorder or disability and; (4) he is willing and able to invest the amount of at least US$75,000. The applicant may be joined by his dependents, who can be his/her spouse and/or his unmarried children under 21 years old.
For purposes of securing an SIRV, only investments/shares of stocks in existing, new or proposed corporations shall be allowed/accepted as eligible forms of investment:
- Publicly-listed companies;
- Companies engaged in areas listed in the Investment Priorities Plan (IPP) of the Board of Investments. (The IPP is a list of priority areas of economic activities which the Government promotes for investments.); and
- Companies engaged in the manufacturing and services sectors.
Ownership of stocks in corporations engaged in wholesale trading shall not be allowed, as well as investments in condominium units or partnerships.