According to a report by the International Monetary Fund (IMF), the Philippines is projected to sustain robust economic growth of 6.5% this year, making it an ideal destination for both local and foreign investors. With its thriving economy and strategic location, the country offers plenty of opportunities for business-minded individuals looking to expand their ventures.
For foreign investors seeking not only business opportunities but also long-term residency, the Special Investor’s Resident Visa (SIRV) is the perfect solution. This visa allows qualified individuals to reside in the Philippines indefinitely as long as they maintain an eligible investment in the country.
In this article, we will walk you through the qualifications, requirements and application process of SIRV, and the advantages of investing in the Philippines.
Special Investor’s Resident Visa (SIRV)
A Special Investor’s Resident Visa (SIRV) is issued by the Bureau of Immigration upon endorsement by the Boards of Investment, which is offered to foreign nationals who want to invest in the Philippines. With this visa, it allows them to live in the country, provided that their investment within the country is maintained.
Additionally, other than you, your spouse, unmarried child/children below twenty-one (21) years old, and dependents may also apply for SIRV. However, if your child/children turn the age twenty-one (21), they will be required to downgrade their visa. If they wish to continue residing in the Philippines, they can apply for another visa.
Qualifications for Special Investor’s Resident Visa (SIRV) in the Philippines
Foreign nationals aged twenty-one (21) and above may apply for a Special Investor’s Resident Visa and must meet the following qualifications:
- No convictions for morally unjust crimes;
- No presence of dangerous or contagious diseases;
- No history of institutionalization for mental disorders or disabilities;
- Holder of a Tourist Visa at least one (1) month validity; and
- Have the capacity to invest a minimum amount of US $ 75,000.
Additionally, the required investment amount may be lessened to US $50,000 under circumstances mentioned on Executive Order No. 63 and No. 1037. You must deposit the required investment into a Peso Time Deposit for at least thirty (30) days with either Land Bank of the Philippines (LBP) or Development Bank of the Philippines (DBP).
Investment Options for Special Investor's Resident (SIRV) in the Philippines
For purposes of securing a SIRV, investments or share of stocks in existing, new or proposed corporations are allowed to the following:
- Publicly-listed companies;
- Companies engaged in areas listed in the Investment Priorities Plain (IPP) of the Board of Investments;
- Companies engaged in the manufacturing and service sectors;
- Companies whose activities fall in any of the major sectoral classifications under the services sectoral classification lists which are based on the UN Central Product Classification; and
- Government securities.
Note that ownership of shares of stock in corporations engaged in wholesale trading and investments in condominium units are no longer allowed. You cannot also invest in any restaurant business as it is considered retail trading.
Special Investor’s Resident Visa (SIRV) Requirements in the Philippines
When applying for a Special Investor’s Resident Visa (SIRV), the following documents must be submitted:
Requirements for Probationary SIRV
- BOI Form SIRV-001A for principal applicant
- Signed and notarized Deed of Undertaking
- Accomplished Personal History Statement Form
- Police Clearance issued abroad and duly authenticated by Philippine Embassy/Consulate, must be translated into English if written in other languages
- Clearance from the Interpol Division of the National Bureau of Investigation (NBI) issued in the Philippines with a validity period of six (6) months
- Medical Certificate authenticated by the Bureau of Quarantine (BoQ) with a validity period of six (6) months
- Birth Certificate, Family Registry, Household Registry authenticated by Philippine Embassy/Consulate
- Marriage Certificate authenticated by Philippine Embassy/Consulate, if applicable
- Proof of Inward Remittance from Development Bank of the Philippines (DBP)
- Additional documents, if necessary
Requirements for Conversion of Temporary SIRV to Indefinite SIRV
- NBI Clearance/Police Clearance valid for six (6) months
- Lease Contract or proof of ownership of office or factory and its location map
- For Investment in New Corporation:
a. Certified True Copy of the Articles of Incorporation, By-Laws and SEC Certificate of Registration
b. Sworn Certification by Corporate Secretary as to the proposed start of commercial operations of the corporation
c. BIR Certificate of Registration
d. BIR approval to print company’s official receipts and invoices, if applicable
e. Certified True Copy of the Business Permit and the corresponding official receipt
- For Investment in Existing Corporation:
a. Certified True Copy of the Business Permit and its corresponding official receipt
b. Certified True Copy of the Certificate of Registration with the Board of Investments (BOI)
c. BIR Certificate of Registration
d. Latest BIR approval to print company’s official receipts and invoices
e. Latest General Information Sheet filed with the Securities and Exchange Commission (SEC)
- For Investment in Publicly-listed Corporation:
a. Certified True Copy by stock broker of official receipts and invoice
b. Certification from the stick transfer office where you are a stockholder on record of the company where the investment was made
c. Certified True Copy of the Stock Certificate issued in your name and signed by the Corporate Secretary
Special Investor’s Resident Visa (SIRV) Application Process in the Philippines
To process a Special Investor’s Resident Visa (SIRV), you must follow this procedure:
- Consult with an Immigration Lawyer. A lawyer specializing in immigration law can guide you all throughout your application process. They will ensure that there will not be delays by assisting you in preparing the required documents and submitting them to the appropriate government offices. In case any issues arise, they can provide solutions for a successful visa approval from the Bureau of Immigration (BI). Getting assistance from an immigration lawyer is optional, but necessary if you prefer a hassle-free application process.
- Assess Qualifications. When applying for a SIRV, there are qualifications that you should meet. In this step, an immigration lawyer can guide you through and give you other visa options that may be suitable for you if you cannot fully meet the qualifications for SIRV application.
- Investment Plan. Under the SIRV program, you must invest a minimum amount of US $75,000 in Philippine businesses. There are a wide range of approved industries, which is why it is advisable to have an investment plan to manage risks, reach financial goals, and ensure that the value of your investment will increase.
- Apply for SIRV. After assessing the SIRV qualifications and having a concrete investment plan, you can apply for a SIRV in the Bureau of Immigration (BI) or at the Philippine Embassy/Consulate in your home country. Ensure to submit all the required documents to avoid any delays.
- Conversion to Indefinite. After investing in the Philippines for six (6) months, you may now convert your probationary SIRV to indefinite. To process this, you will need physical presence in the country.
- Citizenship. You may apply for Filipino citizenship after residing in the country for at least ten (10) years. You should also not have been convicted of any crime, own a real estate worth not less than Php 5,000 or have a business in the country, can speak in Tagalog, English or Spanish, and have a minor child enrolled in any of the public or private schools recognized by the Bureau of Public Schools of the Philippines.
Validity Period of a Special Investor’s Resident Visa (SIRV) in the Philippines
A Special Investor’s Resident Visa (SIRV) is valid for three (3) years and can be renewed for every three (3) years whose investments are in:
- Companies registered with the Board of Investment (BOI), Philippine Economic Zone Authority (PEZA), Subic Bay Metropolitan Authority (SBMA), Clark Development Authority (CDA), and other economic zones
- Condominiums (under the old rule of SIRV) and shares of stocks in publicly-listed corporations with annotation of a lien on Condominium Certificate of Titles/Stock Certificate
Reasons Why You Should Invest in the Philippines
The Philippines is considered one of the most ideal countries for investment and business because of the following reasons:
- Potential Economic Growth. The Philippine government has set ambitious growth targets of 6.5% to 7.5% for 2025 and 6.5% to 8.0% for 2026 to 2028, driven by a strong growth rate of 6.0% in 2024. This demonstrates the competitive and sustainable nature of the country’s economic progress.
- Strategic Location. The Philippines is geographically at the heart of Asia, which is why it is accessible for trading and acts as a gateway to over 600 million consumers in the ASEAN region.
- Investment Incentives. The government offers incentives to foreign investors (i.e. tax exemptions and simplified custom procedures). To reduce the administrative and financial burden on foreign businesses. The Board of Investments (BOI) and the Philippine Economic Zone Authority (PEZA) also offer substantial incentives to attract foreign direct investment. This demonstrates the government’s commitment to fostering a favorable investment climate for foreign investors.
- Natural Resources. The Philippines is known for its wealthy natural resources, minerals, agricultural products, and energy reserves. These resources are the solid foundation for business operating in sectors, such as mining, agriculture, and manufacturing.
- Tourist Destination. With its beautiful scenery, historical sites, and rich culture, the Philippines is a top tourist destination. A lot of tourists are visiting the country, making it a great investment opportunity in the hospitality, travel, and related industries.
- Stable Banking and Finance Sector. The banking system in the country remains stable, supported by sound monetary policies and a low inflation rate. The financial sector is ripe for investment, with banks diversifying their portfolios and digital banking on the rise.
Need further information and assistance regarding Special Investor’s Resident Visa (SIRV)? Talk to our team at Duran & Duran-Schulze Law to know more about the requirements and process. Call us today at (+632) 8478 5826 or +63 917 194 0482, or send an email to info@duranschulze.com for more information.
