Legal basis and governing framework
- CID Law Instructions No. 37 operates as a supplement to the Revised Implementing Rules and Regulations of Executive Order No. 3 governing SIRV.
- The special investor resident visa rules apply subject to existing laws and regulations on the admission of aliens.
- Rule VI and Rule X provisions are expressly emphasized for how SIRV status is given and terminated.
Visa policy and core investment condition
- The principal condition for the Special Investor’s Resident Visa (SIRV) is that the alien invests at least US$50,000.00.
- CID Law Instructions No. 37 requires the SIRV’s continued validity to depend on the investment remaining at at least US$50,000.00.
- The immigration status is structured to allow ongoing stay as long as the investment remains intact.
Admission status and stay terms
- Rule VI, Section 1 directs immigration officers at the ports of entry to admit the holder as Special Investor Resident for an indefinite period of stay.
- Admission under Rule VI, Section 1 is subject to existing laws and regulations on the admission of aliens.
- The SIRV holder’s admitted status is governed by Rule X on termination of stay.
Multiple entry return certificate (re-entry without visa)
- Rule VI, Section 2 requires the Commission on Immigration and Deportation to provide the duly admitted special investor with a Special Return Certificate.
- The Special Return Certificate authorizes multiple entries into the Philippines.
- Multiple entries are allowed without necessity of obtaining an appropriate re-entry visa.
- The Special Return Certificate is valid for one year, and it is renewable every year as long as the alien’s investment of at least US$50,000.00 is intact.
Visa issuance for aliens already in the Philippines
- If the investor is already in the Philippines, the Commission on Immigration and Deportation issues the SIRV here.
- SIRV issuance in the Philippines for an already-present investor requires approval by the Department of Tourism of the application.
Termination of stay for investment withdrawal or reduction
- Rule X, Section 1 provides that if it is ascertained at any time that the SIRV holder has withdrawn the investment from the Philippines, the Commission must terminate the special resident status.
- Rule X, Section 1 also provides termination if the holder reduces the investment below US$50,000.00.
- Upon such determination, the Commission on Immigration and Deportation issues an order terminating the holder’s Special Resident status.