A number of South East Asian nations are offering attractive packages to prospective foreign investors with the target of attracting global tycoons and wealthy retirees to boost their local economies, the Philippines has already offered the most attractive package to the prospective foreign investors.
According to information, the Special Investor Resident Visa (SIRV) entitles the holder to reside indefinitely in the Philippines, permitting multiple entry privileges, so long as his investments remain in the Philippines. The SIRV is issued by the Bureau of Immigration (BI) upon endorsement of the Board of Investments.
The SIRV program requires investors to remit at least US$75,000 into the Philippines and invest subject capital in favorable economic activities pursuant to Book V of the Omnibus Investments Code (Executive Order No. 226, as amended). The applicant can remit his investments through any accredited depository bank in the Philippines, i.e. the Land Bank of the Philippines (LBP) and/or the Development Bank of the Philippines (DBP).
Any foreign national, who is at least twenty-one (21) years of age, is eligible to apply for an SIRV provided he meets the following requirements: (1) he has not been convicted of a crime involving moral injustice; (2) he is not afflicted with any dangerous or contagious disease; (3) he has not been institutionalized for any mental disorder or disability and; (4) he is willing and able to invest the amount of at least US$75,000. The applicant may be joined by his dependents, who can be his/her spouse and/or his unmarried children under 21 years old.
For purposes of securing an SIRV, only investments/shares of stocks in existing, new or proposed corporations shall be allowed/accepted as eligible forms of investment:
Publicly-listed companies;
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 investments.); and
Companies engaged in the manufacturing and services sectors.
Ownership of stocks in corporations engaged in wholesale trading shall not be allowed, as well as investments in condominium units or partnerships.
More about SIRV visa
With the Philippines finally opening back up, more expats are looking for ways to live in the Philippines long-term or retire here permanently. The good news is the Philippines has an extremely welcoming visa policy. Citizens of 157 other countries, including US citizens, can enter the country and stay for up to 3-years visa-free or, with a bit of extra effort, you can apply for the SRRV, the best retirement visa in SE Asia.
However, the visa situation for younger expat retirees has been rough since the Special Resident and Retirees Visa (SRRV) program raised the minimum age limit to 50 in October 2020. There is a visa gap for younger expats over 35 years old with sufficient financial means, don’t meet the new SRRV age limit, but don’t want to hassle constant visa extensions and visa runs.
The little-known SIRV, referred to as the Philippine Investor Visa, is a special non-immigrant visa perfect to fill the need for a Philippines permanent visa for expats over 21 years old. The SIRV may be the world’s best-kept secret “Golden Visa.”
The Philippines offers several programs for foreigners looking to invest in the country. One such program is the Special Investor’s Resident Visa (SIRV).
SIRV visa applicants will need to submit three (3) sets of the following documents:
Duly-accomplished and notarized application form
Recent ID pictures
Deed of Undertaking (downloadable form available here)
Completed Personal History Statement Form (PHSF) from National Intelligence Coordinating Agency (NICA) (including all dependents over 14 years old)
Clean Police Background Check from your home country or most recent country of residence authenticated by the Philippine Embassy or Consulate in that country; OR
A Certification of no criminal liability by the INTERPOL Division of the National Bureau of Investigation (NBI); AND
Medical Certificate from a licensed and accredited hospital or health facility in your home country, validated by the Philippine Bureau of Quarantine, certifying you are physically and mentally fit and free of any dangerous or contagious disease.
*Certificate of Peso Time Deposit proving you converted $75,000 to PHP in an accredited depository bank.
If applicable, your dependent child’s birth certificate authenticated by the Philippine consulate. If the child was born in the Philippines, the National Statistics Office issued an original birth certificate.
If applicable, marriage certificate authenticated by the Philippine
Embassy/Consulate from your country of origin or your home country’s embassy in the Philippines.
Original Passport
The Philippine Investor Visa, also known as the SIRV, offers several privileges to its visa holders.
The visa holder and their family can reside in the Philippines for an indefinite period
This visa offers multiple entry privileges.
Low investment requirement;
Philippines tropical island lifestyle (warm climate, world-class beaches);
Low taxes;
The low cost of living in the Philippines;
English as an official language
Path to citizenship
You will need to submit your complete SIRV application and all the documentation listed in the Philippines Investor Visa requirements section above (valid passport, criminal background check, personal history statement, etc.).
You can submit your SIRV application in one of three ways:
The Philippines Embassy or Consulate in your country of residence;
At the One-Stop SIRV Center at Board of Investments, Second Floor, #385 Senator Gil J. Puyat Avenue, Makati City, Metro Manila; OR
Using a Nomadic FIRE EmbarkEx Visa and Immigration Specialist
The application fee is US$300 USD equivalent in local currency (if paying at a consulate outside the Philippines) for the principal applicant and an additional US$300 USD for your spouse or each dependent child.
If all your documentation is in order, the approval process takes roughly 20-30 days to process and issue your Probationary SIRV.
Two government agencies need to evaluate your application:
Board of Investments – 7 business days
Bureau of Immigration – minimum of 10 business days
If neither agency has any follow-up questions or concerns with your application, they will issue you a probationary SIRV valid for six months.
