The Special Investor's Resident Visa (SIRV) is a residence-by-investment program that allows foreign nationals to reside indefinitely in the Philippines, provided a qualifying equity investment of at least USD 75,000 is maintained. Jointly administered by the Board of Investments (BOI), under the Department of Trade and Industry, and the Bureau of Immigration (BI), the SIRV targets investors aged 21 and above who wish to establish a long-term presence in the Philippines through direct equity participation in Philippine corporations.
Only shares of stock in eligible Philippine corporations qualify. Accepted investments include:
Investments in condominium units and wholesale-trading companies are no longer allowed, and retail businesses (such as restaurants) are excluded. Direct real estate, bonds, or bank deposits alone do not qualify, and the investment must be maintained at all times — withdrawal results in automatic visa expiration.
The probationary SIRV is valid for 6 months (180 days), during which the initial peso time deposit of at least USD 75,000 must be converted into qualifying equity shares. Once the BOI verifies the conversion, the visa becomes indefinite and does not expire as long as the investment is maintained. The SIRV Identification Card, however, is valid for one year and must be renewed annually at PHP 2,000 per person. A sworn annual report must be submitted to the BOI one month before the ID card's expiry, proving the investment remains intact. Failure to file annual reports or maintain the minimum investment is grounds for cancellation.
The applicant's spouse and unmarried children under 21 years of age are eligible for the same visa without any additional investment requirement. Each dependant must submit the same documentary requirements and pay the applicable fees (USD 300 processing fee, PHP 10,110 BI fee, and PHP 2,000 SIRV ID card fee per person). Dependants' visas are linked to the principal holder's status — cancellation of the principal SIRV results in cancellation of the dependants' visas as well.
SIRV holders are classified as resident aliens for Philippine tax purposes. Under the National Internal Revenue Code, resident aliens are taxed only on Philippine-source income. Foreign-source income is not subject to Philippine tax, even if remitted to the Philippines.
The SIRV application follows a two-stage process:
Deposit and application filing: The applicant submits a letter of intent to the BOI, which endorses the applicant to an accredited depository bank, then opens a peso time deposit of at least USD 75,000 (minimum 30-day, maximum 180-day maturity). Applications may be filed through a Philippine Embassy or Consulate abroad, which endorses them to the BOI, or directly at the BOI's SIRV Center in Makati City if the applicant is already in the Philippines. Fees: USD 300 processing fee per person to the BOI; PHP 10,110 per person (aged 14+) to the Bureau of Immigration; PHP 2,000 per person for the SIRV ID card. BOI processing takes about 7 working days and BI implementation a minimum of 10 working days.
Investment conversion: After receiving the probationary multiple-entry SIRV, the applicant must physically enter the Philippines and convert the time deposit into qualifying equity shares within the 180-day period. Investments completed after the probationary period incur a late-investment penalty of PHP 1,000 plus PHP 100 per day of delay. Once the BOI verifies the conversion, the visa is upgraded to an indefinite SIRV.
SIRV holders are exempt from the Bureau of Immigration's Exit Clearance Certificate requirement and may travel freely in and out of the Philippines with multiple-entry privileges.