Details

Published: 29 April 2019

The Special Investor’s Resident Visa (SIRV) is a special non-immigrant visa issued by the Bureau of Immigration through the Board of Investments, an attached agency of the Philippine Department of Trade and Industry. This visa entitles the holder to reside in the Philippines for an indefinite period as long as the required qualifications and investments are maintained.

QUALIFICATIONS

A foreign national who is at least 21 years of age is eligible to apply for an SIRV if he or she:

• Has not been convicted of a crime involving moral turpitude;
• Has not been diagnosed with a dangerous or contagious disease;
• Has not been institutionalized for any mental disorder or disability; and
• Is willing and can invest the amount of at least US$75,000.00.

The dependent spouse and unmarried children under 21 years of age of the principal SIRV applicant can also qualify and be issued the same kind of visa.

The Probationary SIRV is valid for six (6) months while the Indefinite SIRV is valid so long as the visa holder maintains the required investment in the Philippines.

Deposit Requirements

The Applicant must deposit the amount of at least US$75,000.00 into Peso Time Deposit for a minimum maturity period of 30 days and a maximum maturity period of 180 days with either Land Bank of the Philippines (LBP), or the Development Bank of the Philippines (DBP). The investor shall have one hundred eighty (180) days from date of issuance of probationary visa to convert the deposit into an investment in an eligible domestic enterprise and report such investment to the Board of Investments.

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:

1. Publicly- listed companies
2. 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.)
3. Companies engaged in the manufacturing and services sectors

The major service sectors for evaluating the qualification of SIRV applicants are the following:

1. Business services;
2. Communication services;
3. Construction and related engineering services;
4. Distribution services;
5. Educational services;
6. Environmental services;
7. Financial services;
8. Health related and social services;
9. Tourism and travel related services;
10. Recreational, cultural and sporting services;
11. Transport services, and
12. Other services not included elsewhere.

Permissible investments for purposes of SIRV qualification are limited and does not include ownership of shares of stock in corporations engaged in wholesale trading, investments in condominium units, and certain partnerships.

 Interested parties can proceed to the One-Stop SIRV Center at the 2nd Flr., Board of Investments, #385 Senator Gil J. Puyat Avenue, Makati City, Metro Manila, or read further details at the website of the Philippine Board of Investments.