The Special Investor's Resident Visa (SIRV) entitles the holder to reside in the Philippines for an indefinite period as long as the required qualifications and investments are maintained.
Who can Apply for a SIRV?
Any alien, except for restricted nationals, at least twenty-one (21) years of age, who meets the qualifications and follows the implementing rules provided for in the issuance of an SIRV. The applicant's spouse and unmarried children under twenty-one (21) years of age may also be issued the same visa.
The applicant must not have been convicted of a crime involving moral turpitude, been afflicted with any loathsome, dangerous or contagious disease; has not been institutionalized for any mental disorder or disability; and is willing and able to invest the amount of at least USD75,000 in the Philippines.
What are the Privileges of having a SIRV?
The holder may reside in the Philippines for as long as his investment subsists and is entitled to import used household goods and personal effects tax and duty-free as an alien coming to settle in the Philippines for the first time.
Requirements for a SIRV
- Duly-accomplished and notarized application form, with recent photographs;
- Clearance from the National Intelligence Coordinating Agency (NICA), together with either a clearance from the central government agency of the applicant's country or place of residence, competent to give information about any 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 judgement of a crime involving moral turpitude. The NICA shall issue an initial clearance within three (3) working days from receipt of the BOI endorsement, and a more thorough verification to cover the Armed Forces of the Philippines and the Philippine National Police should be made within three(3) months after the grant of the probationary visa. Any derogatory record may be the basis for revocation of the SIRV holder's visa. The expiration date of said clearances should not be earlier than six (6) months from date of filing of application;
- Medical certificate issued by the Department of Health (DOH), any government hospital or health facility, or any licensed and accredited hospital, medical center, or laboratory or the equivalent in the applicant's home country, certifying that the applicant is physically and mentally fit. The expiration of the certification should not be earlier than six (6) months from date of filing of application;
- Certification under oath from the duly-authorized officers of any accredited depository bank in the Philippines as to the amount of foreign exchange inwardly remitted by applicant, and its conversion to pesos through the said bank, in the prescribed form. Should the inward remittance be sent through non-accredited correspondent banks, the total amount of remitted money should be immediately transferred to the accredited banks. In all cases, inward remittances shall not be made earlier than one (1) year prior to the filing of the application;
- Certified true copy of the certificate of peso time deposit with a maturity period of at least thirty (30) days. The original copy of the certificate of time deposit shall remain with the depository bank for safe-keeping;
- Birth certificate/family registry/household registry duly authenticated by the Philippine Consulate/Embassy located in the applicant's home country or the applicant's embassy in the Philippines;
- If spouse and dependent children are included in the application, marriage contract duly authenticated by the Philippine Consulate/Embassy located in the applicant's home country or by the applicant's Embassy in the Philippines;
- Original passport of the applicant; and
- Payment (2,800 NOK)