Navigating Immigration: Understanding the Importance of Special Investor’s Resident Visa (SIRV) in the Philippines

What is a Special Investor’s Resident Visa (SIRV)?

The Special Investor Resident Visa (SIRV) grants foreign investors to live in the Philippines with multiple entry privileges, providing that his/her investments within the country are being maintained. Issued by the Bureau of Immigration (BI) upon endorsement by the Board of Investments, the SIRV requires investors to remit a minimum of US$75,000 into the Philippines and invest this capital in economically beneficial activities outlined in Book V of the Omnibus Investments Code as amended by Executive Order No. 226. 

The SIRV applicant can remit his/her investments through any accredited depository banks in the Philippines, such as the Land Bank of the Philippines (LBP) and the Development Bank of the Philippines (DBP).

Moreover, foreign nationals aged twenty-one (21) or above are eligible to apply for an SIRV. In this regard, the applicant must meet the specific qualifications, such as 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 with at least one (1) month validity, and able to invest a minimum of US$75,000. Additionally, the applicants may include their dependents or beneficiaries, such as spouses and child/children under twenty-one (21) years old. If their child/children reaches the age of 21, the SIRV will no longer be honored and they will be required to downgrade their visa or secure another visa if he/she wishes to continue residing in the Philippines.

For SIRV application purposes, the investments/shares of stocks in existing, new, or proposed corporations are deemed eligible. These investments must align with specific sectors, including publicly-listed companies, companies engaged in areas listed in the Investment Priorities Plan (IPP) of the Board of Investments, companies engaged in the manufacturing and services sectors, and government securities. However, ownership of stocks in corporations engaged in wholesale trading, as well as investments in condominium units or partnerships, is not permitted for SIRV purposes.

Under various circumstances, the SIRV can be grounds for cancellation or revocation. These include failure to submit required documents or reports on time, which may result in visa cancellation, penalty, and inclusion in the Bureau of Immigration’s blacklist or watchlist. Additionally, non-compliance with the minimum qualification requirement, which mandates the maintenance of a minimum investment of US$75,000.00 (or its PHP equivalent), can lead to visa cancellation. Also, fraudulent misrepresentation by the applicant or their authorized agent regarding submitted documents or information, submission of falsified or spurious documents in support of the application/report, and conviction of a crime involving moral turpitude or violation of existing laws can result in visa cancellation or revocation.