Philippines investor visa (SIRV)

The SIRV suits investors who want to put capital into an operating Philippine company rather than run a business with staff of their own. Foreigners who instead create jobs for at least ten Filipinos can look at the Special Visa for Employment Generation at the BI, and those aged 40 or over who simply want to live in the country with a bank deposit can use the PRA's SRRV. Employees of a Philippine company need a 9(g) visa.

The investor must be at least 21, must not have been convicted of a crime involving moral turpitude, must not have been diagnosed with a dangerous or contagious disease or institutionalised for a mental disorder, and must be willing and able to invest at least USD 75,000. The SIRV is a special non-immigrant visa issued by the BI through the Board of Investments, an attached agency of the Department of Trade and Industry.

The applicant first deposits at least USD 75,000 into a peso time deposit with a maturity of 30 to 180 days at the Land Bank of the Philippines or the Development Bank of the Philippines. Within 180 days of the probationary visa, the deposit must be converted into shares of an eligible company and reported to the BOI. Eligible are publicly listed companies, companies in areas listed in the BOI Investment Priorities Plan, and manufacturing and service companies in sectors such as business, communication, construction, distribution, education, environment, finance, health, tourism, recreation and transport. Shares in wholesale trading companies, condominium units and certain partnerships do not count.

Applications are handled by the One-Stop SIRV Center on the second floor of the Board of Investments, 385 Senator Gil J. Puyat Avenue, Makati City. The probationary SIRV is valid six months; once the investment is in place and reported, the indefinite SIRV remains valid as long as the required investment is maintained.

The dependent spouse and unmarried children under 21 of the principal applicant can qualify for and receive the same kind of visa.