The Special Investor’s Resident Visa (SIRV) is a special non-immigrant visa that enables its holder to reside in the Philippines indefinitely and has multiple-entry privileges as long as the individual meets the requirements in terms of investments and qualifications. The SIRV is issued by the Bureau of Immigration (BI) after endorsement from the Board of Investments.
Qualifications of foreign nationals eligible to apply for a Special Investor’s Resident Visa (SIRV)
- Must be at least 21 years of age
- Must have no criminal record
- Must not be a restricted national
- Must not be afflicted with any contagious, dangerous, or loathsome disease
- Must be willing and able to invest the amount of at least US$75,000.00 in covered investments, which will be invested in a Peso Time Deposit at the Development Bank of the Philippines (DBP) for a minimum maturity period of 30 days and a maximum maturity period of 180 days.
Benefits of having a Special Investor’s Resident Visa (SIRV)
- The right to reside in the Philippines for an indefinite period
- Multiple entry privileges
- Exemption from the Exit Clearance and Re-Entry requirements of the Bureau of Immigration (BI) and Alien Certificate of Registration
- May import used household goods and personal effects tax and duty-free as an alien coming to settle in the Philippines for the first time
- The SIRV applicant needs to deposit at least US$75,000.00 into a Peso Time Deposit for a minimum maturity period of 30 days and a maximum maturity period of 180 days with the accredited depository bank, i.e., Development Bank of the Philippines (DBP)
- The SIRV applicant shall be given one hundred eighty (180) days from the date of issuance of a probationary visa to convert the deposit into an investment in an eligible domestic enterprise and to report the investment to the Board of Investments (BOI).
Investment in the following business sectors shall be permitted:
- Business services
- Communication services
- Construction and related engineering services
- Distribution services
- Educational services
- Environmental services
- Financial services
- Health-related and social services
- Tourism and travel-related services
- Recreational, cultural, and sporting services
- Transport services
- Other services not included elsewhere
Investment in condominium units or partnerships is not permitted.
Under the Philippine Embassy
- Submit the application form and other documentary requirements to the local Philippine Embassy
- After endorsement from the Philippine Embassy, the BOI will evaluate the application.
- There will be a re-endorsement to the Philippine Embassy through the DFA consular office for issuing a probationary, multiple-entry visa valid for 6 months.
- Upon arrival to the Philippines, the probationary visa can be turned into SIRV once proof of inward remittance has been shown.
Under the BOI
- Submit the application form and other documentary requirements, including the original passport, to the BOI.
- Wait for BOI to endorse the application to BI upon completion of documentation so that the BI may issue a provisional, multiple-entry visa valid for 6 months.
- Amendment of visa (from provisional to indefinite) shall be done upon submission of proof that the inward remittance has been invested.
Some people confuse the SIRV with SRRV. Both are types of visas issued to foreigners that allow them multiple entries in the Philippines and to stay in the country for an indefinite period.
A Special Resident Retiree’s Visa, a.k.a. SRRV, is a visa issued by the Bureau of Immigration (BI) which enables the holder to reside permanently in the Philippines. Retired foreign nationals and former Filipinos aged 50 and above may qualify for the Special Resident Retiree’s Visa. The SRRV requires a local bank deposit ranging from US$25,000 to US$75,000 (depending on the type of SRRV) with zero ROI and very low-interest rate earnings. On the other hand, SIRV allows foreigners to convert their time deposit in the local bank into an investment. Of the two types of visas, in our opinion, the SIRV is the more logical choice.
Help for getting Special Investor’s Resident Visa (SIRV)
Most business owners and individuals turn to professional services for particular tasks, such as obtaining a Special Investor’s Resident Visa.
Triple i Consulting is the first ISO 9001:2008 firm in the Philippines to provide company and business registration services. Specializing in extending assistance for obtaining SIRVs, the ISO-certified company offers help in accounting, business registration, environmental consulting, FDA consulting, visas, and more.
Allow us to assist you getting an SIRV by scheduling a free initial consultation with one of our visa experts. Contact us through one of the following channels: