ISSUANCE OF SPECIAL INVESTOR’S RESIDENT VISA
Rules and Regulations of Executive Order No. 3 [given below].
The Rules and Regulations provide for the issuance under certain
conditions of the Special Investor’s Resident Visa (SIRV). The
principal condition is that the alien invests at least US$50,000.00.
If the investor is already in the Philippines, Commission on
Immigration and Deportation will issue the visa here, so long as the
Department of Tourism has approved the application.
We stress the following provisions:
“Rule VI
Admission Status and Special Return Certificate
SECTION 1. Immigration officers at the ports of
entry shall, subject to existing laws and regulations on the admission
of aliens, admit the holder of this visa as Special Investor Resident
for an indefinite period of stay, subject to the provisions or Rule X
hereof.SECTION 2. The duly admitted special investor shall
be provided by the Commission on Immigration and Deportation with a
Special Return Certificate allowing him multiple entries into the
country, without necessity of obtaining an appropriate re-entry visa,
for a period of one year, renewable every year as long as his investment
of at least US$50,000.00 is intact.
x x x
“Rule X
Termination of Stay
SECTION 1. Should it be ascertained at any time that
the holder of this visa has withdrawn his investment from the
Philippines or reduced the same below the value of US$50,000.00 the
Commission on Immigration and Deportation shall issue an order
terminating the holders Special Resident status.”
Adopted: 21 June 1988 .
(SGD.) MIRIAM DEFENSOR SANTIAGO
Commissioner