Special Investor’s Resident Visa (SIRV)

Qualifications

To be eligible for the SIRV, the foreign national must:

• Be at least 21 years of age.
• Have no criminal record.
• Not be a restricted national.
• Not be afflicted with any contagious, dangerous, or loathsome disease.
• Be willing and able to invest a minimum of US$75,000 in covered investments.

Benefits of the SIRV

• Right to reside in the Philippines indefinitely.
• Multiple-entry privileges without the need for exit clearance or re-entry requirements.
• Tax and duty-free importation of used household goods and personal effects upon first-time settlement.

Deposit Requirements

Applicants must deposit at least US$75,000 into a Peso Time Deposit with an accredited depository bank (typically the Development Bank of the Philippines – DBP) for a minimum of 30 days and a maximum of 180 days. Within 180 days from the issuance of a probationary visa, this deposit must be converted into an investment in an eligible domestic enterprise and reported to the BOI.

Eligible Investment Sectors

Covered investments typically include sectors such as:

• Business services and communication services
• Construction and related engineering services
• Distribution services
• Educational and environmental services
• Financial and health-related services
• Tourism, travel-related, recreational, cultural, and sporting services
• Transport services
• Other services not specifically excluded

Note: Investment in condominium units or partnerships is not permitted.

Requirements & Application Process

Documents Required:

• Accomplished BOI Form SIRV-001A.
• Birth Certificate/Family Registry/Household Registry duly authenticated by the Philippine Embassy/Consulate.
• Bureau of Immigration fee payment receipt (PHP 10,110.00).
• Clearance from the Interpol Division of the NBI (valid for 6 months).
• Completed Personal History Statement Form.
• Marriage Contract (for married applicants) duly authenticated by the Philippine Embassy/Consulate.
• Medical Certificate authenticated by the Bureau of Quarantine (valid for 6 months).
• Proof of inward remittance from DBP or the accredited bank.
• Processing fee of US$300.00.

Application Procedure:
Under the Philippine Embassy: Submit your application and documents to the local Philippine Embassy. After endorsement, the BOI will evaluate your application and re-endorse it through the DFA consular office, which will issue a probationary, multiple-entry visa valid for 6 months. Upon arrival in the Philippines, this probationary visa can be converted into your SIRV once proof of inward remittance is provided.

Under the BOI: Alternatively, submit your application and required documents, including your original passport, directly to the BOI. Once the BOI endorses your application to the BI, you will receive a provisional, multiple-entry visa valid for 6 months. After arriving in the Philippines, provide proof of inward remittance to upgrade your visa to an indefinite SIRV.

SIRV vs. SRRV

While both the Special Investor’s Resident Visa (SIRV) and the Special Resident Retiree’s Visa (SRRV) allow indefinite residence and multiple entries, they cater to different applicant profiles. The SRRV is designed for retirees (typically aged 50 and above) and requires a local bank deposit ranging from US$25,000 to US$75,000 with minimal ROI. In contrast, the SIRV is for active investors who wish to convert their time deposit into an investment in a domestic enterprise. In our expert opinion, the SIRV is the more logical choice for foreign investors looking to grow their business presence in the Philippines.