Philippines Investor Visa- How To Invest In The Philippines For Residency (2024)

With the Philippines finally opening back up, more expats are looking for ways to live in the Philippines long-termor retire here permanently. The good news is the Philippines has an extremely welcoming visa policy. Citizens of 157 other countries, including US citizens, can enter the countryand stay for up to 3-years visa-free or, with a bit of extra effort, you can apply for the SRRV, the best retirement visa in SE Asia.

However, the visa situation for younger expat retirees has been rough since the Special Resident and Retirees Visa (SRRV) program raised the minimum age limit to 50 in October 2020. There is a visa gap for younger expats over 35 years old with sufficient financial means, don't meet the new SRRV age limit, but don't want to hassle constant visa extensionsand visa runs.

The little-known SIRV, referred to as the Philippine Investor Visa, is a special non-immigrant visa perfect to fill the need for a Philippines permanent visafor expats over 21 years old. The SIRV may be the world's best-kept secret "Golden Visa."

The Philippines offers several programs for foreigners looking to invest in the country. One such program is the Special Investor's Resident Visa (SIRV).

Makati is Manila's Central Business District. It's the country's Finance and Business Hub.

Foreigners who meet the following qualifications can apply for the Philippines Investor Visa:

1. Twenty-one (21) years of age or older;
2. Has not been convicted of a crime involving moral turpitude;
3. Not afflicted with any loathsome, dangerous, or contagious disease;
4. Has not been institutionalized for any mental disorder or disability;
5. Willing and capable of investing at least $75,000 USD; and
6. Holds a 9a tourist visawith at least one (1) month validity

Additionally, the principal visa applicant's spouse and unmarried children under 21 can obtain SIR visas.

SIRV visa applicants will need to submit three (3) sets of the following documents:

1. Duly-accomplished and notarizedapplication form
2. Recent ID pictures
3. Deed of Undertaking (downloadable form available here)
4. Completed Personal History Statement Form (PHSF) from National Intelligence Coordinating Agency (NICA) (including all dependents over 14 years old)
5. Clean Police Background Check from your home country or most recent country of residence authenticated by the Philippine Embassy or Consulate in that country; OR
6. A Certification of no criminal liability by the INTERPOL Division of the National Bureau of Investigation (NBI); AND
7. Medical Certificate from a licensed and accredited hospital or health facility in your home country, validated by the Philippine Bureau of Quarantine, certifying you are physically and mentally fit and free of any dangerous or contagious disease
8. *Certificate of Peso Time Deposit proving you converted $75,000 to PHP in an accredited depository bank.
9. If applicable, your dependent child's birth certificate authenticated by the Philippine consulate. If the child was born in the Philippines, the National Statistics Office issued an original birth certificate.
10. If applicable, marriage certificate authenticated by the Philippine Embassy/Consulate from your country of originor your home country's embassy in the Philippines.
11. Original Passport

The Philippine Investor Visa, also known as the SIRV, offers several privileges to its visa holders.

1. The visa holder and their family can reside in the Philippines for an indefinite period
2. This visa offers multiple entry privileges.
3. Low investment requirement;
4. Short processing time;
5. Philippines tropical island lifestyle (warm climate, world-class beaches);
6. Low taxes;
7. The low cost of living in the Philippines;
8. English as an official language
9. Path to citizenship

Unlike some of the Philippines' other visa programs, the government has opened the SIRV program to any foreign nationals who can meet the visa requirements.

1. Twenty-one (21) years of age or older;
2. Have no criminal record;
3. Is not carrying a dangerous or contagious disease;
4. Has not been hospitalized for a mental disorder or disability;
5. Can provide proof of having $75,000 USD to freely access and invest

The SIRV program requires you to usethe $75,000 deposit for the purchase of shares, ownership, equity, or stocks in a proposed, start-up, or existing business. However, to be eligible, the $75,000 must be invested in one of the following:

1. Publicly- listed companies;
2. In a focus industry listed in the current Investment Priorities Plan (IPP) of the Board of Investments:
3. In the services or manufacturing sectors (see list below); OR
4. Government securities.

• Business services (such as BPO, consultancy, etc.);
• Communication services;
• Construction and related engineering services;
• Distribution services;
• Educational services;
• Environmental services;
• Financial services;
• Health-related and social services;
• Tourism and travel-related services;
• Recreational, cultural and sporting services;
• Transport services, and
• Other services not included elsewhere.

Note that the BOI no longer permits ownership of shares in domestic corporations engaged in wholesale trading or investment in condominium units as eligible for the SIRV. Additionally, the Philippines has nationalized industries with a strict limitation on ownership by foreigners.

A Tourism or Travel business is an eligible investment for the Special Investors Resident Visa

You will need to submit your complete SIRV application and all the documentation listed in the Philippines Investor Visa requirements section above(valid passport, criminal background check, personal history statement, etc.).

You can submit your SIRV application in one of three ways:

1. The Philippines Embassy or Consulate in your country of residence;
2. At the One-Stop SIRV Center at Board of Investments, Second Floor, #385 Senator Gil J. Puyat Avenue, Makati City, Metro Manila; OR
3. Using a Nomadic FIRE EmbarkEx Visa and Immigration Specialist

If all your documentation is in order, the approval process takes roughly 20-30 days to process and issue your Probationary SIRV.

Two government agencies need to evaluate your application:

1. Board of Investments - 7 business days
2. Bureau of Immigration - minimum of 10 business days

If neither agency has any follow-up questions or concerns with your application, they will issue you a probationary SIRV valid for six months.

1. 1

   Prior Board of Investment Approval -You are not allowed to withdraw your deposit unless authorized by the BOI. However, you don't need to invest the entire deposit at once. You can make partial conversions of your deposit with prior approval, as long as the whole deposit is converted to investments before your Probationary SIRV expires.

2. 2

   Application for Conversion of Deposit to Investments –When you are ready to convert the entire Peso Time Deposit, file a Letter of Intent to the BOI for evaluation.

3. 3

   Evaluation and Withdrawal of Time Deposit –The BOI evaluates your conversion documents, and then the depository bank will issue a check payable to the investment corporation after Board approval.

4. 4

   Submission of Proof of Investment –You must submit the required business documents below at least 30 days before your Probationary SRIV expiration. The specific list of requirements depends on the type of investment (new, existing, or publicly-traded company).

Your Probationary SIRV is only valid for six months. You now have 180 days to make an investment decision. The Philippine Investor Visa Program keeps the bureaucracy to a minimum (well, minimum for a government program) to entice foreign investors. The BOI's One-Stop SIRV Center is a valuable resource. The Center responds quickly if you have questions about the SIRV application process. However, the BOI can't give you investment advice.

Remember Step 2, where you picked a qualified business? You now need to convert your $75,000 bank deposit into an investment into that business before that six-month period ends.

While you are on a deadline, you never want to rush an investment decision. $75,000 is not pocket money for most of us. Check to make sure the business fits your lifestyle and investment portfolio. Does the investment match your risk toleranceand meets your expected Return on Investment. Just note that the BOI charges a nominal late penalty of $20 (1000 PHP) + $2 per day (100 PHP) if you haven't made your investment period after the six-month validity of your probationary visa ends.

If Makati is too crowded for you, setting up your business office in BGC is a fantastic option

Before your Probationary SIRV expires, you will need to present a notarized and sworn report along with supporting original documents to the BOI Board. The documentary requirements depend on if you are investing in a new start-up, existing private domestic enterprise, or publically listed corporation.

Along with the required business documents from Step 4, you will need to submit the following:

1. Philippine NBI Clearance/ Police Clearance(valid for at least six months)
2. Bureau of Immigration Order for Probationary SIRV
3. Photocopy of passport (front page, latest entry, SIRV stamp)
4. Proof of Payment of filing fee of P2,000.00 per person
5. Proof of Payment for late investment (if applicable)
6. Bureau of Immigration fee of P1,010.00 per person

Download the SIRV checklist and application forms here

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