A Comprehensive Guide to the Special Investor’s Resident Visa (SIRV) in the Philippines

The Philippines offers various pathways for foreign nationals seeking residence within its borders. Among these, the Special Investor’s Resident Visa (SIRV) stands out as a distinguished option for individuals aiming to combine residency acquisition with economic investment.

This program is strategically designed to attract foreign capital by granting residency status to individuals who make substantial investments in the local economy. Unlike traditional work visas or permits, the SIRV focuses on investment rather than employment, making it an ideal choice for investors and entrepreneurs looking to establish a long-term presence in the Philippines.

• What is the Special Investor’s Resident Visa (SIRV)?
• Who is Eligible for the SIRV?
• How Do You Apply for the SIRV?
• What Are the Qualifying Investment Opportunities?
• What are the Restrictions on Investment?
• What are the benefits of obtaining an SIRV?
• Frequently Asked Questions

What is the Special Investor’s Resident Visa?

The Special Investor’s Resident Visa (SIRV) constitutes a distinct non-immigrant category administered by the Philippine government via the Board of Investments (BOI).

This visa confers upon the holder the privilege of indefinite residence within the Philippines, contingent upon the continued maintenance of the requisite investment. Fundamentally, the SIRV aims to bolster foreign capital influx, invigorate economic activity, and generate employment for Filipino citizens. For investors, this presents a unique avenue to establish residence in the country while directly contributing to its economic development.

Who is Eligible for the SIRV?

To qualify for the Special Investor’s Resident Visa (SIRV), applicants must meet the following criteria:

• Be at least 21 years old.
• Have no convictions for crimes involving moral turpitude.
• Be free from any dangerous or contagious diseases.
• Have no history of institutionalization for mental disorders or disabilities.
• Be willing and able to invest a minimum of US$75,000 in the Philippines.

Family Inclusion

A key benefit of the SIRV is the ability to include family members in the application. The principal applicant may include:

• Their spouse.
• Unmarried children under 21 years old.

Dependents can join the principal applicant in the Philippines under the same visa status.

Nationality Eligibility

The SIRV program is open to all nationalities. There are no nationality-based restrictions for eligibility, provided that the applicant meets all statutory requirements and complies with the applicable regulations governing the SIRV program.

How Do You Apply for the SIRV?

For foreign nationals seeking to invest and reside in the country, understanding these steps is crucial for a successful application. The process ensures that all requirements are met in an orderly fashion, from initial fund remittance to the final conversion of the visa.

Here is a detailed breakdown of the application journey:

Step 1: Prepare the Documents

Before submitting anything, gather the necessary paperwork. This usually includes:

• Accomplished application forms.
• Police clearance from your country of origin (authenticated/apostilled).
• Medical certification.
• Proof of remittance of the required investment amount (US$75,000).

Step 2: Remit the Investment

You must remit a minimum of US$75,000 to an accredited bank in the Philippines. Commonly used banks for this purpose include the Eastwest Bank, Security Bank and the Development Bank of the Philippines. Ensure the remittance is specifically marked for the SIRV program. Once the funds are received, the bank will issue a Certification of Inward Remittance, a critical document for your application.

Step 3: Apply for a Probationary SIRV

Submit your application to the Board of Investments (BOI). After verifying your documents and the inward remittance, the BOI will endorse your application to the Bureau of Immigration. At this stage, you will be issued a Probationary SIRV, valid for six months.

Step 4: Convert Funds into Investment

During the six-month probationary period, you must convert your cash deposit into a qualifying investment, such as stocks or business ownership. Simply leaving the funds in the bank is not permitted—they must be actively invested in an eligible economic activity.

Step 5: Secure the Indefinite SIRV

Once your funds have been successfully invested, you must provide proof (e.g., stock certificates, business registration documents) to the BOI. Upon approval, your Probationary SIRV will be converted into an Indefinite SIRV. You will then receive an identification card confirming your resident status.

What Are the Qualifying Investment Opportunities?

A defining advantage of the Special Investor’s Resident Visa (SIRV) program is the significant flexibility it offers regarding capital allocation. The required US$75,000 remittance is not merely a fee but an active investment that can be strategically channeled into several high-potential avenues within the Philippine economy.

Applicants may choose from the following qualifying vehicles:

• Publicly-Listed Companies: Investors may purchase shares in dynamic companies currently listed on the Philippine Stock Exchange (PSE), allowing for participation in the country’s major industries.
• New or Existing Corporations: Capital can be directed toward investing in new start-ups or expanding existing corporations. These investments must be in sectors not restricted to Filipino ownership, typically covering areas such as manufacturing, services, tourism, and other government-identified priority sectors.

**Important Note:

It is crucial for applicants to note that direct real estate purchases, such as buying condominium units or land, are generally not recognized as qualifying investments for the purpose of the SIRV program. The focus remains on active economic participation through business and financial securities.

What are the Restrictions on Investment?

When participating in the SIRV program, it’s crucial to understand where investments are not permitted. The program generally prohibits investments in the following areas:

• Wholesale and retail trading, unless the company meets the high capital requirements specified for foreign retail trade.
• Direct purchase of condominiums or real estate, as the investment must be made in a business entity, not personal property.

What are the Benefits of Obtaining an SIRV?

Securing an SIRV opens up a range of privileges that make living and doing business in the Philippines much easier.

• Privileges of Securing an SIRV. Obtaining a Special Investor’s Resident Visa (SIRV) grants a variety of privileges that significantly simplify living and conducting business in the Philippines.
• Indefinite Residency. One of the primary benefits is the right to reside in the Philippines indefinitely, provided your investment remains active. This eliminates the need for annual visa renewals or frequent applications for short-term extensions.
• Multiple Entry Privileges. SIRV holders enjoy multiple entry privileges, allowing unrestricted travel in and out of the Philippines. There is no requirement to secure re-entry permits or pay travel taxes typically imposed on tourists.
• Exemption from Work Permits. As an investor managing your own investment, you are generally exempt from the requirement to obtain an Alien Employment Permit (AEP), particularly if you serve as an executive in the company where you have invested. However, if you assume a regular operational role, specific labor regulations may still apply. It is advisable to clarify your responsibilities to ensure compliance with applicable laws.