SPECIAL INVESTOR’S RESIDENT VISA (SIRV)

The SIRV is a program of the government in attracting foreign investments into the country.
The program requires investors to remit at least US$75,000.00 into the country and invest
subject capital in viable economic activities pursuant to Book V of the Omnibus Investments
Code (Executive Order No. 226, as amended). It entitles the holder to reside in the Philippines
for an indefinite period as long as the required qualifications and investments are maintained.

1. Who may apply?

- A foreign national who is at least twenty one (21) years of age, with the following
qualifications:
o He has not been convicted of a crime involving moral turpitude
o He is not afflicted with any loathsome, dangerous or contagious disease
o He has not been institutionalized for any mental disorder or disability
o He is willing and able to invest the amount of at least US$75,000.00

2. Who are considered as qualified dependents of SIRV applicants?

- The spouse and the unmarried children under 21 years of age of the SIRV applicant
can be considered as qualified dependents and therefore can also apply for an SIRV.

3. What are the allowable forms of investment under the SIRV Program?

- Only investments/shares of stocks in existing, new or proposed corporations shall be

allowed/accepted as eligible forms of investment:
o Publicly-listed companies
o Companies engaged in areas listed in the Investment Priorities Plan (IPP) of
the Board of Investments
 The IPP is a list of priority areas of economic activities which the
Government promotes for investment
o Companies engaged in the manufacturing and service sectors

- Companies whose activities fall in any of the following major sectoral classifications
found under the services sectoral classification lists which are based on the UN
Central Production Classification shall be deemed in the service sectors:
o Business services
o Communication services
o Construction and related engineering services
o Distribution services
o Educational services
o Environmental services
o Financial services
 o Health related and social services
o Tourism and travel related services
o Recreational, cultural and sporting services
o Transport services
o Other services not included elsewhere

- Investments which are not allowed:

o Ownership of shares of stock in corporations engaged in wholesale trading
o Investments in condominium units or partnerships

4. What are the kinds of SIRV issued by the Bureau of Immigration?

- Probationary SIRV
o Valid for six (6) months

- Indefinite SIRV
o Valid as long as the visa holder maintains the required investment in the
Philippines

5. Where can the applicant file his application?

- If the applicant is not in the Philippines:

o The Philippine Embassy or Consulate in the applicant’s home country or
place of residence; or
o The embassy or consulate nearest thereto in the absence of the foregoing

- If the applicant is in the Philippines:

o One Stop SIRV Center at the Board of Investments

6. What are the documentary requirements?

- Application form duly filled up and notarized, with recent photographs

- Accomplished Personal History Statement Form (PHSF) from the National

Intelligence Coordinating Agency (NICA) together with either clearance from the
Central Government Agency of the applicant’s country or place of residence,
competent to give information about the criminal record that the applicant may
have, duly authenticated by the Philippine Embassy; or the INTERPOL Division of
the National Bureau of Investigation (NBI) indicating that the applicant has not been
convicted by final judgment of a crime involving moral turpitude

- Medical Certificate from the Department of Health, any government hospital or

health facility or any licensed and accredited hospital or health facility in the
 applicant’s home country certifying that the applicant is physically fit. The Medical
Certificate should be validated by the National Quarantine Office of the Department
of Health within 10 days after arrival in the Philippines for those whose
probationary SIRV was issued by the Philippine Foreign Service Posts or prior to the
filing of SIRV application for those whose applications will be filed with the Board of
Investments

- Certification from the Land Bank of the Philippines or the Development Bank of the
Philippines as to the amount inwardly remitted by the applicant and its conversion
to pesos

- Certified true copy of the certificate of peso time deposit for a minimum maturity
period of 30 days

- Birth Certificate/Family Registry/Household Registry authenticated by the

Philippine Consulate or Embassy located in the applicant’s home country or the
applicant’s embassy in the Philippines

- If applicable, marriage contract authenticated by the Philippine consulate/embassy

located in the applicant’s home country or the applicant’s embassy in the Philippines

- Original passport of the applicant

7. How much is the filing fee?

- The application fee is US$300.00 or its equivalent in local currency for the principal
applicant and another US$300.00 for each dependent

8. What are the requirements to secure a probationary SIRV?

- BOI Form SIRV-001A for Principal applicant / BOI Form SIRV-001B for Dependents

- Signed and notarized Deed of Undertaking (for principal only

- For principal and for dependents who are 14 years old and above:
o Accomplished personal history statement form
o Police clearance issued abroad translated into English and duly authenticated
by the Philippine Embassy/Consulate or Clearance from the INTERPOL
Division of the National Bureau of Investigation issued in the Philippines
valid for 6 months

- Medical Certificate authenticated by the Bureau of Quarantine of the Philippine

Department of Health valid for 6 months
 - Birth Certificate/Family Registry/Household Registry authenticated by the
Philippine Embassy/Consulate

- Marriage Contract (if applicable) authenticated by Philippine Embassy/Consulate

- Proof of inward remittance from the Development Bank of the Philippines or Land
Bank of the Philippines

- Passport with updated stay

- BOI processing fee of US$300.00 per person

- Bureau of Immigration fee:

o Php10,110.00 per person (if 14 years old and above)
o Php9,360.00 per person (if below 14 years old)

Note: Please see attached checklist for application for probationary SIRV.

9. How can the probationary SIRV be converted into an indefinite SIRV?

- In order for the probationary SIRV to be converted into an indefinite SIRV, the
applicant must submit the following to support the application for conversion of
probationary to indefinite SIRV within 30 days from date of approval of the
withdrawal of the deposit:

o General Requirements
 NBI Clearance/Police Clearance valid within 6 months
 Lease contract or proof of ownership of office or factory/plant sites
and its location map

o For investment in new corporation

 Certified true copies of Securities and Exchange Commission (SEC)
Certificate of Registration, Articles of Incorporation and By-laws
 Treasurer’s affidavit as to the amount of investment of the applicant
 Certified true copy of official receipt issued by the treasurer-in-trust
 Sworn certification of Corporate Secretary as to proposed star of
commercial operation of the Corporation
 BIR Certificate of Registration (TIN/VAT)
 BIR approved authority to print official receipts and invoices and
copies of the company’s official receipts (if available)
 Certified true copy of Business/Mayor’s permit valid for one (1) year
and the corresponding official receipt (if available)
 o For investment in existing corporation not publicly listed
 Business/Mayor’s permit valid for one (1) year and its corresponding
official receipt (O.R.)
 Certificate of Registration with the Board of Investments , if any
 BIR certificate of registration of TIN
 Latest BIR approved authority to print receipts and invoices and
copies of company’s official receipts
 Latest General Information Sheet (GIS) filed with the SEC reflecting
the name of SIRV holder as one of the stockholders
 Resolution from SEC authorizing the issuance of shares from the
unsubscribed portion and exempting said shares from registration (if
the shares acquired came from the unsubscribed portion of the
corporation’s authorized capital stock)
 Deed of assignment between buyer and the seller of the stock, if the
shares acquired were purchased from existing stockholders (the
purchase price per share shall not exceed 10% of its current book
value)

o For investment in shares in publicly listed corporations

 Certified true copy (by the stockbroker) of official receipts and buy
invoice
 Certification from the stock transfer office that the SIRV holder is a
stock holder on record of the company where the investment was
made
 Certified true copy (by the stock transfer office) of the Stock
Certificate issued in the name of SIRV holder with the following
annotation on the face thereof:

“The shares of stock covered by this certificate shall not be sold,

transferred, conveyed, disposed and/or encumbered without the
prior written consent of the Board of Investments”

Such annotation must bear the signature of the Corporate Secretary.

- The applicant may also be required, from time to time, to submit other proofs of
investment

10. How long is the processing of an SIRV application?

- For probationary SIRV

o BOI - 3 to 5 working days
o BI - 5 working days
 - For indefinite SIRV
o BOI - 3 to 5 working days
o BI - 5 working days for investments in new corporations and/or publicly
listed companies / 14 working days for investments in existing corporations

11. What is an SIRV Identification Card?

- This is issued by the BOI to SIRV holders with actual investments, valid for one (1)
year, renewable yearly.

- However, the SIRV Card shall be valid for 3 years, renewable every 3 years for SIRV
holders whose investments are in the following:
o Companies registered with the BOI, PEZA, SBMA, CDA, and other economic
zones
o Condominiums (SIRV holders under the old rules) and shares of stocks in
publicly-listed corporations with annotation of a lien on Condominium
Certificate of Titles/Stock Certificates
o Businesses with established manufacturing/service operations

12. How much is the fee for the issuance of an SIRV Card?

- The SIRV holder and his dependents will be required to pay Php2,000.00 each for the
issuance of an SIRV Card

13. What are the procedures for the renewal of an SIRV Card?

- At least one month before the expiration of the SIRV Card, the SIRV holder shall file
a sworn report with the BOI Board, supported by the following documents:

o For investments in Corporations and/or Partnerships

 Certified true copy of the latest Audited Financial Statement filed
with the BIR
 Copy of the latest Income Tax Return filed with the BIR with official
receipt of income tax payment, if applicable
 Copy of the latest General Information Sheet (GIS) filed with SEC (for
corporation only)
 Business /Mayor’s Permit for the current year and Official Receipts
 Copy of the individual tax return of the SIRV holder filed with the
BIR with official receipt of income tax payment, if applicable
 Copies of used official receipts being used by the enterprise (for those
engaged in wholesale trading)
 Contract of Lease/Title of Land/Building being occupied by the
business
  Copy of Title of Land/Building and Stocks Certificate being held by
the enterprise (if any, especially for holding companies, real estate
developers as being reported in the company’s Balance Sheet)

o For investments in Condominium

 Present original copy of the Condominium Certificate of Title
 Real Property Tax for the current year

o For investments in Publicly-Listed Companies

 Stock Certificates & Certification from stock transfer office
 Buy Invoice/Official Receipts (if there’s change of stocks being held)

14. What are the grounds for cancellation/revocation of SIRV and SIRV Card?

- Failure to file on time the required documents/report shall subject an SIRV holder to
a fine/penalty and/or constitute a ground for the cancellation of his visa and/or his
inclusion/s in the Bureau of Immigration’s blacklist. Furthermore, his identification
card shall not be renewed.

15. What are the grounds for disapproval of an SIRV application?

- Failure to meet any of the minimum qualification requirements, which is the

maintenance of the minimum US$75,000.00 (Php equivalent) investment at all times.

- Fraudulent misrepresentation on the part of the applicant or his authorized agent

relative to the submitted documents/information in support of his/her application.

- Submission of falsified or spurious documents in support of his/her application.

16. What to do in cases where the SIRV has been cancelled/revoked by the BI upon
recommendation of the BOI?

- The SIRV holder may apply to the BOI for re-endorsement of their SIRV and
payment of US$300.00 in Peso equivalent per principal and per dependent.
Reinstatement of previously cancelled visas shall not be allowed. Instead, they shall
be considered new applications. In endorsements, however, the BOI shall
recommend the issuance of a probationary or indefinite SIRV depending on the
status of the SIRV holders’ investments in the country.

17. Will the SIRV automatically expire upon the holder’s non-compliance of certain
requirements?
- The SIRV will remain valid for as long as the SIRV holder maintains all the
qualifications as SIRV holder and his investment continues to exist.