What are the requirements for a Special Investor's Resident Visa (SIRV)?
The Special Investor's Resident Visa (SIRV) is being implemented under Executive Order 226 (otherwise known as the Omnibus Investments Code of 1987) and Executive Order 63.
An alien may qualify for a Special Investor’s Resident Visa (SIRV) if he is willing and able to invest the amount of at least US$ 75,000.00 in the Philippines. For purposes of compliance with this particular condition, the applicant should prove that he has remitted such amount in acceptable foreign currency to the Philippines, which is to be certified by the President of the concerned banking institution and confirmed by the Governor of the Bangko Sentral ng Pilipinas.
The applicant's spouse and unmarried children under twenty-one (21) years of age may also be issued the same visa, if accompanying or joining him after his admission into the Philippines as a special investor resident.
The procedures for applying for an SIRV is as follows:
a) This visa may be applied for and issued at the Foreign Service Post (Philippine Embassy or Consulate) in the applicant’s country of origin or place of residence or at the Board of Investments (BOI) in Manila. If there is no Foreign Service Post in his country or place of residence, the embassy or consulate nearest thereto shall process and issue the visa;
b) The Foreign Service Post shall endorse the application together with all the documentary requirements filed with the Post to the Board of Investments, Manila, for evaluation and approval; and
c) After evaluation, the BOI upon approval shall endorse to the Post concerned through the DFA the issuance of a probationary multiple entry visa valid for six (6) months.
The requirements in applying for an SIRV are:
a) Duly accomplished visa application Form (FA Form No. 2);
b) Passport valid for at least six (6) months beyond authorized period of stay in the Philippines and subject;
c) At least two (2) passport-size photographs taken during the last six (6) months, quarter profile showing earlobes;
d) Prior approval from the Department of Foreign Affairs;
e) Personal appearance; and
f) The visa processing fee.
(Note: Applicants for the SIRV must not be categorized as excludable alien nor included in the DFA Blacklist. Separate application forms and fees are required for each applicant even if they are covered by one passport (as in the case of dependent children).