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special investor's resident visa (sirv)

What is Special Investor's Resident Visa?

The Special Investor's Resident Visa (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 into the country and invest subject capital in viable economic activities.


Who may avail of the SIRV?

Any alien, except restricted nationals under the Foreign Service Code and who meets the following requirements:

1. He had not been convicted of a crime involving moral turpitude;
2. He is not afflicted with any loathsome, dangerous or contagious disease;
3. He has not been institutionalized for mental disorder or disability;
4. He is willing and able to invest the amount of at least US$75,000 in the Philippines.


Who are considered as qualified dependents of SIRV applicants?

The spouse and 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.


Where can an SIRV applicant remit his investments?

The SIRV applicant can remit his investments through any accredited depository bank of the Philippines, i.e., Land Bank of the Philippines, Development Bank of the Philippines. 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.


Where can an SIRV applicant secure application forms and other additional requirements on SIRV?

An SIRV applicant can secure application forms and other additional requirements from the following:

a) Any Philippine Foreign Service Post

b) One Stop SIRV Center located at the 2nd Floor of the Board of Investments

Where can an SIRV applicant file his application?

An applicant may file his application with:

a) The Philippine Embassy or Consulate Office nearest his home country, or place of Residence; or

b) One Stop SIRV Center located at the 2nd Floor of the Board of Investments

What are the allowable forms of investments under the SIRV Program?

For purposes of securing an SIRV, only shares of stocks in the following shall be accepted as eligible forms of investment:

a) In existing corporations:
· Publicly-listed companies
· Companies engaged in IPP
· Companies engaged in the manufacturing and service sector
b) In proposed corporations:
· Companies to be engaged in the manufacturing and service sectors, or
· Companies to be engaged in IPP projects


What privilege is given by the Philippine Government to the holder of the SIRV?

The holder of the SIRV has the privilege to reside in the Philippines for an indefinite period while his investment subsists. He shall also be entitled to import his used household goods and personal effects tax and duty-free as an alien coming to settle in the Philippines for the first time under Sec. 105(h) of the Tariff and Customs Code of the Philippines.




   
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