Is the approval rate for the Philippine SIRV investment visa high?
There’s no official “approval rate.” Outcomes mainly depend on (a) clean background checks, (b) proof that your funds are lawful and came in via proper inward remittance, (c) meeting the minimum qualifying investment, and (d) complete, well-prepared documents. When those are in order, approvals are common; weak source-of-funds or non-eligible investments are the usual reasons for refusal or delay.
2) Does SIRV require bank statements (bank flow/transaction history)?
Typically you’re asked for proof of inward remittance and bank/time-deposit certificates (and later, proof of conversion to equity). Ordinary month-to-month statements are not always required, but officers may request them to substantiate source of funds or cash movements. Keep them ready.
3) Does SIRV require government approval?
Yes. The investment and applicant are reviewed by the Board of Investments (BOI) and the Bureau of Immigration (BI). You’ll first receive a probationary status/visa and, after meeting post-investment requirements, conversion/confirmation to ongoing status.
4) Will the SIRV be revoked if the investment fails?
If the qualifying investment falls below the required threshold or is lost and isn’t replaced within the allowed time, the visa can be cancelled. You may transfer to another eligible investment to keep your status.
5) Does SIRV automatically enroll you in local social security/benefits?
No automatic enrollment.
- SSS (pension): typically tied to employment in the Philippines.
- PhilHealth (national health insurance): foreigners can usually voluntarily enroll; not automatic.
Private health insurance is still recommended.
6) Is SIRV suitable for a digital-nomad work style?
SIRV grants residence, not work authorization. Remote work for an overseas employer is common in practice, but local employment in the Philippines requires an AEP and usually a 9(g) work visa. Also assess tax nexus (you may create Philippine tax obligations if you work from the country).
7) Is there an official, government-endorsed list of SIRV projects?
There’s no single public “approved list.” Instead, the rules define eligible sectors/enterprises (e.g., qualified private companies or publicly listed firms). You must do due diligence to ensure the target company qualifies and complies with foreign-ownership rules.
8) Can you submit missing documents later (staged supplementation)?
Usually yes—officers often accept compliance submissions for missing items within set deadlines. But key pieces (identity, police clearances, investment proofs) must meet format/timing rules; repeated or late compliance can stall the case.
9) Is there a minimum number of employees required for SIRV?
No headcount minimum for the visa itself. Separate incentive regimes (e.g., BOI/PEZA tax incentives) may impose operational targets, but those are company-level requirements, not SIRV requirements.
10) How does Philippine investment immigration differ from other Asian programs?
- Philippines (SIRV): investment into eligible enterprises (not a pure property buy), comparatively lower capital threshold than “top-tier” programs, residence while the investment is maintained.
- Singapore (GIP): very high investment thresholds, rigorous business track record requirements.
- Malaysia (MM2H): mainly deposit/income requirements (not enterprise investment).
- Thailand (Elite): membership/residence privileges, not an investment immigration scheme.
- Other property-based routes: often tied to real estate; the Philippines restricts foreign land ownership, so SIRV focuses on business/equity.
11) Does SIRV restrict investment in certain industries?
Yes—foreign ownership in some sectors is limited or prohibited (e.g., mass media; certain natural-resource activities; public utilities with ownership caps; land ownership is restricted). Always check the current Foreign Investment Negative List and sector-specific caps before investing.
12) If a SIRV holder changes their passport, must the visa be updated?
Yes. You should update BI/BOI records and, if your visa is in the old passport, carry both passports until the annotation/transfer is completed. Keep your SIRV ID and new passport details consistent across agencies and banks.
13) Can a PRC (Chinese) passport holder apply directly for SIRV?
Yes—PRC nationals are eligible to apply, subject to standard background checks, police clearances, AML/source-of-funds verification, and investment eligibility.
14) Do SIRV holders have access to local medical services?
Yes. You can use private hospitals/clinics like any resident and may voluntarily enroll in PhilHealth for public coverage (not automatic). Many SIRV holders maintain private international health insurance for broader benefits and direct-billing options.
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