Special Investor's Resident Visa (SIRV)

The Special Investor's Resident Visa (SIRV) is a residence-by-investment program that allows foreign nationals to reside indefinitely in the Philippines, provided a qualifying equity investment of at least USD 75,000 is maintained. Jointly administered by the Board of Investments (BOI) and the Bureau of Immigration (BI), the SIRV targets investors aged 21 and above who wish to establish a long-term presence in the Philippines through direct equity participation in Philippine corporations.

• Minimum age of 21 years
• Clean criminal record (no conviction for crimes involving moral turpitude)
• Good health (free from loathsome, dangerous, or contagious diseases, as confirmed by medical certificate)
• Minimum investment of USD 75,000 in shares of stock of eligible Philippine corporations
• Eligible investments include: shares in publicly listed companies, companies in the Board of Investments' Strategic Investment Priority Plan (SIPP), manufacturing and service companies, and companies in economic zones
• No specific educational or professional qualifications required

• Completed visa application form (FA Form No. 2)
• Valid passport (at least 6 months' validity beyond the authorized stay, with 2 blank pages)
• Two recent passport-size photographs (taken within 6 months)
• Police clearance from country of residence (translated into English and authenticated by the Philippine Embassy/Consulate), or NBI clearance if already in the Philippines
• Medical certificate authenticated by the Bureau of Quarantine, Department of Health (valid within 6 months)
• Birth certificate or family registry, duly authenticated
• Marriage contract (if applicable, authenticated)
• Proof of inward remittance from an accredited depository bank (Development Bank of the Philippines or Land Bank of the Philippines)

The probationary SIRV is valid for 6 months, during which the initial peso time deposit (minimum USD 75,000) must be converted into qualifying equity shares. Once the BOI verifies the investment conversion, the visa becomes indefinite. The SIRV itself does not expire as long as the investment is maintained, but the SIRV Identification Card must be renewed annually at PHP 2,000 per person. A sworn annual report must be submitted to the BOI within one month of the card's expiry date, proving the investment remains intact. Failure to file annual reports or maintain the minimum investment is grounds for SIRV cancellation.

The applicant's spouse and unmarried children under 21 years of age are eligible for the same visa without any additional investment requirement. Dependants' visas are linked to the principal holder's status — cancellation of the principal SIRV results in cancellation of dependants' visas as well.

SIRV holders are classified as resident aliens for Philippine tax purposes. Under the National Internal Revenue Code, resident aliens are taxed only on Philippine-source income. Foreign-source income is not subject to Philippine tax, even if remitted to the Philippines.

The SIRV application follows a two-stage process:

1. Deposit and application filing: The applicant opens a peso time deposit of at least USD 75,000 at an accredited bank (Development Bank of the Philippines or Land Bank of the Philippines). Applications may be filed through a Philippine Embassy or Consulate abroad (which endorses the application to the BOI) or directly at the BOI's One-Stop SIRV Center (2nd Floor, BOI, 385 Senator Gil J. Puyat Avenue, Makati City) if the applicant is already in the Philippines. Fees: USD 300 processing fee per applicant to the BOI; PHP 10,110 per person (aged 14+) to the Bureau of Immigration; PHP 2,000 per person for the SIRV ID card.

2. Investment conversion: Upon receiving the probationary SIRV (multiple-entry, 6-month validity), the applicant must physically enter the Philippines and convert the time deposit into qualifying equity shares within the probationary period. Once the BOI verifies the conversion, the visa is upgraded to an indefinite SIRV.

SIRV holders are exempt from the Bureau of Immigration's Exit Clearance Certificate requirement and may travel freely in and out of the Philippines with multiple-entry privileges. After 10 years of continuous residence, holders may apply for Philippine citizenship through judicial naturalization.