# Philippines SIRV Research Dossier

Generated at: 2026-04-07T07:51:04.893Z

This packet is the single-file online handoff for another Codex or another machine.

Recommended continuation order:
1. Read `next-codex-prompt` first.
2. Then read `applicant-guide`.
3. Then read `timeline-and-costs`.
4. Then read `risks-and-open-questions`.
5. Then read `sources`.

Canonical live endpoints:
- `/raw/dossier`
- `/download/dossier`
- `/context`

---
# Document: Applicant Guide

Slug: applicant-guide
Audience: Applicant
Updated: 2026-03-30
Raw endpoint: /raw/applicant-guide

```md
---
title: "Applicant Guide"
description: "The actual visa route, why the stock route is possible, and what you need to do end-to-end."
order: 1
updatedAt: "2026-03-30"
audience: "Applicant"
highlights:
  - "The relevant route is the Philippines Special Investor's Resident Visa (SIRV), not a generic 'investment permit'."
  - "Yes, eligible shares in publicly-listed Philippine companies can qualify, but the process is stricter than buying PSE stocks in a normal retail account."
  - "Your residence lasts only while the required qualifications and investments are maintained."
---

# Bottom line

If your goal is to **legally stay in the Philippines through a qualifying investment of at least US$75,000**, the route you are describing is the **Special Investor's Resident Visa (SIRV)**.

Based on current BOI and BI materials, the answer to your core question is:

- **Yes:** the SIRV still centers on a **minimum US$75,000 inward remittance** and can be satisfied through an eligible investment in the Philippines.
- **Yes:** BOI's 2023 SIRV FAQ still says **shares in publicly-listed companies** are an eligible form of investment.
- **But:** the stock route is **not the same thing as casually buying PSE shares in a standard online brokerage account**. BOI's proof-of-investment requirements for publicly listed shares call for a **stock certificate**, official receipts/buy invoice, a **sworn certification from the stockbroker**, and a BOI lien/annotation that the shares cannot be sold, transferred, or conveyed without prior BOI approval. That creates a major operational constraint for applicants using listed stocks.

Primary sources:

- [BOI SIRV FAQ 2023 PDF](https://www.boi.gov.ph/wp-content/uploads/2023/08/SIRV-FAQ-ao-2023-v.pdf)
- [BOI 2022 Investor's Guidebook](https://www.boi.gov.ph/wp-content/uploads/2022/07/2022-Investors-Guidebook-as-of-06-June-2022.pdf)
- [BOI FAQ page on investor visas](https://boi.gov.ph/ufaqs/14-as-an-investor-what-visa-can-be-issued/)

# What the visa actually gives you

The SIRV is a residence visa under Book V of the Omnibus Investments Code. BOI describes it as a visa that allows the holder to **reside in the Philippines for an indefinite period as long as the investment subsists**. BOI's older investor FAQ and the implementing rules use substantially the same concept: indefinite residence, but only while qualifications and the investment are maintained.

That means this is **not** a one-time buy-and-forget visa. If the investment stops qualifying, if reporting obligations are missed, or if the visa conditions are breached, the residence benefit can be put at risk.

Sources:

- [BOI investor visa FAQ](https://boi.gov.ph/ufaqs/14-as-an-investor-what-visa-can-be-issued/)
- [Rules implementing EO 226, Book V / SIRV provisions](https://boi.gov.ph/wp-content/uploads/2020/06/RULES-AND-REGULATIONS-TO-IMPLEMENT-EXECUTIVE-ORDER-NO.-226.pdf)

# Who can apply

BOI's 2023 FAQ says the applicant must be:

- At least **21 years old**
- Not convicted of a crime involving moral turpitude
- Not afflicted with a loathsome, dangerous, or contagious disease
- Not institutionalized for a mental disorder or disability
- Willing and able to invest at least **US$75,000**
- If applying inside the Philippines, a holder of a **tourist visa with at least one month validity**

Qualified dependents are limited to:

- The **spouse**
- **Unmarried children under 21**

Important nuance: older BOI FAQ text refers to dependent children below 18, while the 2023 SIRV FAQ states unmarried children under 21. For current practice, I am treating the newer 2023 SIRV FAQ as the better operational source, but this is worth confirming directly with BOI when filing.

Sources:

- [BOI SIRV FAQ 2023 PDF](https://www.boi.gov.ph/wp-content/uploads/2023/08/SIRV-FAQ-ao-2023-v.pdf)
- [BOI investor visa FAQ](https://boi.gov.ph/ufaqs/14-as-an-investor-what-visa-can-be-issued/)

# Can you use Philippine listed stocks?

## Official answer

BOI's 2023 SIRV FAQ says eligible forms of investment include:

- **Publicly-listed companies**
- Companies in BOI priority areas / SIPP
- Companies in manufacturing and qualifying service sectors
- Government securities

The same FAQ also says that, when converting the time deposit into an investment for **publicly-listed companies**, the accredited bank may issue the check to the **stockbrokerage firm**.

That is the clearest current official sign that the listed-stock route still exists.

Source:

- [BOI SIRV FAQ 2023 PDF](https://www.boi.gov.ph/wp-content/uploads/2023/08/SIRV-FAQ-ao-2023-v.pdf)

## Practical answer

The listed-stock route is real, but it has a **documentation and custody problem**.

BOI's guidebook says that for investments in publicly listed corporations, the applicant later needs to submit:

- A **certified true copy of the stock certificate**
- Certified true copies of **official receipts and buy invoice**
- A **sworn certification of the stockbroker**

The same BOI material also says stock certificates issued to SIRV holders must bear an annotation that the owner is an SIRV holder and the shares **cannot be sold, transferred, or conveyed without prior BOI approval**.

My inference from that combination is:

- A normal brokerage position where the shares sit in street name / nominee form may **not** be enough by itself.
- Before choosing the stock route, you should confirm that your selected broker, transfer agent, and issuer can produce the **certificate + annotation + documentary trail** BOI expects.
- If they cannot, the listed-stock path may be technically allowed but **operationally impractical** for you.

This is the single biggest risk in using the "I'll just buy Philippine stocks" version of the SIRV.

Source for the documentary requirements:

- [BOI 2022 Investor's Guidebook](https://www.boi.gov.ph/wp-content/uploads/2022/07/2022-Investors-Guidebook-as-of-06-June-2022.pdf)

# Where you file

BOI's SIRV FAQ says an applicant can secure forms and file through:

- The **Incentives Administration Service**, 2nd Floor, Board of Investments, 385 Senator Gil J. Puyat Avenue, Makati City
- A **Philippine Embassy or Consulate** abroad
- BOI's downloadable forms page

Relevant operational pages:

- [BOI incentives / downloadable SIRV forms](https://boi.gov.ph/resources/downloadable-forms/incentives/)
- [BOI OWN online assistance portal](https://boi.gov.ph/boi-own/)

# Required documents at the start

BOI's guidebook lists the core documentary requirements for the SIRV application in three sets:

1. Application form, notarized, with ID photos
2. Personal History Statement Form from NICA
3. Police clearance from home country or place of residence, authenticated by the Philippine Embassy, or NBI Interpol certification
4. Medical certificate from a recognized facility; for applications filed at BOI, the guidebook says the medical certificate should be validated by the **Bureau of Quarantine**
5. Bank certification as to the inward remittance and peso conversion
6. Birth records / family registry for dependents
7. Marriage certificate if applicable

This means your path is not just "fund account, buy stock, done." The administrative package is substantial and can easily dominate the timeline if your civil records or police clearances need apostille/authentication work.

Source:

- [BOI 2022 Investor's Guidebook](https://www.boi.gov.ph/wp-content/uploads/2022/07/2022-Investors-Guidebook-as-of-06-June-2022.pdf)

# Step-by-step process

## 1. Pick the route and de-risk the stock plan first

Before remitting money, decide whether you really want the **publicly listed stock** route or whether a different qualifying corporation/investment structure is easier to document.

For the stock route, ask upfront:

- Which broker will execute the purchase?
- Can they support a **BOI-compliant certification**?
- Can the issuer / transfer agent issue a **stock certificate in your name**?
- Can the required **BOI lien/annotation** actually be placed on that certificate?

## 2. Remit the US$75,000 through a BOI-accredited depository bank

BOI materials currently point to accredited depository banks including:

- **Development Bank of the Philippines (DBP)**
- **Land Bank of the Philippines**
- **Security Bank Reposo JP Rizal branch**
- **EastWest Bank Gil-Puyat Metrohouse branch**

The money is first placed in the required bank structure and only later converted to the actual qualifying investment.

Sources:

- [BOI SIRV FAQ 2023 PDF](https://www.boi.gov.ph/wp-content/uploads/2023/08/SIRV-FAQ-ao-2023-v.pdf)
- [BOI EastWest depository bank advisory](https://boi.gov.ph/sdm_downloads/advisory-the-eastwest-banking-corporation-through-its-eastwest-bank-gil-puyat-metrohouse-branch-is-now-a-boi-accredited-depository-bank-for-the-sirv-programs-inward-remittance-requirement/)
- [BOI Security Bank announcement](https://boi.gov.ph/boi-security-bank-ink-sirv-agreement-to-attract-more-foreign-investments-in-the-philippines/)

## 3. File for the probationary SIRV

If your documents are accepted, BOI endorses the application to the Bureau of Immigration, and BI implements the **probationary multiple-entry SIRV**.

The current BI Makati charter shows a **5 working day** office timeline for its SIRV implementation workflow once the BOI endorsement is in order.

Source:

- [BI Makati Immigration Extension Office Citizens' Charter 2023 PDF](https://immigration.gov.ph/wp-content/uploads/2023/11/MAKATI.pdf)

## 4. Convert the deposit into the real investment

The probationary SIRV is valid for **180 days**. BOI's FAQ says proof of investment should be shown **at least 30 days before the end of that 180-day period**.

If you miss the deadline, BOI's current FAQ and the implementing rules point to penalties.

Source:

- [BOI SIRV FAQ 2023 PDF](https://www.boi.gov.ph/wp-content/uploads/2023/08/SIRV-FAQ-ao-2023-v.pdf)
- [EO 226 implementing rules](https://boi.gov.ph/wp-content/uploads/2020/06/RULES-AND-REGULATIONS-TO-IMPLEMENT-EXECUTIVE-ORDER-NO.-226.pdf)

## 5. Apply for conversion to indefinite SIRV

Once the actual investment is documented, you file for conversion from probationary to indefinite SIRV. BOI's 2025 charter shows the endorsement stage for indefinite SIRV as a roughly **5 working day** internal process when documents are complete.

Source:

- [BOI Citizens' Charter 2025, Indefinite SIRV endorsement](https://boi.gov.ph/wp-content/uploads/2025/12/Issuance-of-Endorsement-for-Indefinite-Special-Investors-Resident-Visa.pdf)

## 6. Maintain the visa

The ongoing obligations are not optional:

- Keep the qualifying investment in place
- File BOI SIRV-related reports / renewals as needed
- Do the BI **Annual Report** every year within the first 60 days of the year if you are a registered alien

Sources:

- [BOI incentives / SIRV forms page](https://boi.gov.ph/resources/downloadable-forms/incentives/)
- [BI 2026 Annual Report advisory](https://immigration.gov.ph/2026-annual-report-advisory/)
- [BI Annual Report FAQ](https://immigration.gov.ph/faqs/)

# Agencies and institutions you will actually deal with

## Government

- **Board of Investments (BOI), Incentives Administration Service**
  - Front-end SIRV processing, checklists, endorsements, annual report forms, ID forms
- **Bureau of Immigration (BI)**
  - Visa implementation, ACR-related processes, annual BI reporting
- **Bureau of Quarantine (BOQ)**
  - Medical-certificate validation for certain in-country filings
- **National Bureau of Investigation (NBI) / INTERPOL Division**
  - Alternative criminal-clearance pathway mentioned by BOI
- **Philippine Embassy / Consulate**
  - Authentication / consular support if you file or authenticate abroad

## Bank / market infrastructure

- **BOI-accredited depository bank**
  - Handles the inward remittance / time deposit leg
- **Stockbroker**
  - Required if you pursue publicly listed shares
- **Issuer corporate secretary / transfer agent**
  - Potentially critical for the stock certificate and BOI annotation requirement

# What I would verify before committing money

1. **Can your chosen listed-stock structure produce the exact BOI documents?**
2. **Will the broker and transfer agent cooperate on a BOI lien/annotation?**
3. **Is the target issuer open to foreign ownership at the level you need?**
4. **What happens if you want to exit or rebalance the stock position later?**
5. **Are you comfortable tying immigration status to market risk and documentation risk?**

# My present conclusion

If your only question is "is there really a Philippines route where I put in about US$75,000 and get legal residence?", the answer is **yes: SIRV**.

If your more specific question is "can I just invest US$75,000 into Philippine stocks and be done?", the answer is **not safely in that simple form**. The current official material supports a stock-based path, but it also strongly suggests you need a **structured, document-heavy, BOI-compliant stockholding setup**, not just a normal broker purchase.
```

---
# Document: Timeline And Costs

Slug: timeline-and-costs
Audience: Applicant
Updated: 2026-03-30
Raw endpoint: /raw/timeline-and-costs

```md
---
title: "Timeline And Costs"
description: "Official processing windows, practical timing, and the government and non-government cost stack."
order: 2
updatedAt: "2026-03-30"
audience: "Applicant"
highlights:
  - "Official office processing can look fast on paper; document prep and stock-structure coordination are usually the slow parts."
  - "Government fees are separate from the US$75,000 capital requirement."
  - "The 180-day probationary period is the deadline that matters most."
---

# Working timeline

The official charters make the filing stages look fairly fast. In practice, the **slowest parts are usually before and between official approvals**:

- document gathering
- police clearance and authentication
- medical certificate and BOQ handling
- wiring / bank setup
- figuring out a BOI-compliant stock execution path

## Practical timeline estimate

| Stage | Best-case official signal | Realistic planning note |
| --- | --- | --- |
| Pre-filing prep | No single government SLA | Usually **1 to 4+ weeks** depending on civil documents, police clearance, bank setup, and whether you are abroad |
| BOI probationary endorsement | About **15 minutes + 1 working day + 3.5 working days** in the 2025 BOI charter | Plan around **1 week** once the file is complete |
| BI probationary implementation | **5 working days** at the Makati Immigration Extension Office | Plan around **1 week**, plus BOI liaison movement |
| Deposit-to-investment conversion | No fixed short SLA; depends on your bank + broker + issuer side | This can be the **most operationally messy stage** if you use publicly listed shares |
| Deadline to show proof of investment | Must invest within **180 days** of probationary SIRV; BOI says show proof at least **30 days before** expiry | Treat this as a hard planning deadline |
| BOI conversion to indefinite endorsement | About **15 minutes + 1 working day + 3.5 working days** in the 2025 BOI charter | Roughly **1 week** if documents are clean |
| BI conversion / implementation | Older BOI guidebook cites BI minimums of **10 working days**; BI office charters may differ by workflow | Plan **1 to 3 weeks** to stay conservative |

Sources:

- [BOI 2025 Citizens' Charter, probationary SIRV endorsement](https://www.boi.gov.ph/wp-content/uploads/2025/04/1st-Edition-2025-BOI-Citizens-Charter.pdf)
- [BOI 2025 Citizens' Charter, indefinite SIRV endorsement](https://boi.gov.ph/wp-content/uploads/2025/12/Issuance-of-Endorsement-for-Indefinite-Special-Investors-Resident-Visa.pdf)
- [BI Makati Immigration Extension Office Citizens' Charter 2023 PDF](https://immigration.gov.ph/wp-content/uploads/2023/11/MAKATI.pdf)
- [BOI 2022 Investor's Guidebook](https://www.boi.gov.ph/wp-content/uploads/2022/07/2022-Investors-Guidebook-as-of-06-June-2022.pdf)

# Official fee stack

## BOI-side fees

The SIRV fee schedule in the implementing rules and BOI materials currently points to:

| Fee item | Amount |
| --- | --- |
| Application fee | **US$300 each** |
| Conversion of time deposit to investments | **PHP 1,000** |
| Conversion of probationary to indefinite SIRV | **PHP 2,000 each** |
| Issuance of SIRV identification card | **PHP 2,000 each** |
| Certifications / documentary outputs | **PHP 750** |
| Fine for failure to invest on time and/or submit annual reports on time | **PHP 1,000 + PHP 100 per day late** |

Sources:

- [EO 226 implementing rules, Rule on SIRV fees and fines](https://boi.gov.ph/wp-content/uploads/2020/06/RULES-AND-REGULATIONS-TO-IMPLEMENT-EXECUTIVE-ORDER-NO.-226.pdf)
- [BOI 2022 Investor's Guidebook](https://www.boi.gov.ph/wp-content/uploads/2022/07/2022-Investors-Guidebook-as-of-06-June-2022.pdf)
- [BOI SIRV FAQ 2023 PDF](https://www.boi.gov.ph/wp-content/uploads/2023/08/SIRV-FAQ-ao-2023-v.pdf)

## BI-side fees

The BI Makati charter lists:

| BI item | Amount |
| --- | --- |
| Probationary SIRV, adult | **PHP 10,110** |
| Probationary SIRV, minor | **PHP 9,360** |
| Extension of probationary SIRV | **PHP 960** |
| Probationary to indefinite | **PHP 1,010** |

Source:

- [BI Makati Immigration Extension Office Citizens' Charter 2023 PDF](https://immigration.gov.ph/wp-content/uploads/2023/11/MAKATI.pdf)

# What this means in cash terms

## Minimum government-fee picture for one adult principal

This is the approximate official-fee stack **before** dependents and before your professional / documentary / trading costs:

| Item | Amount |
| --- | --- |
| Required investment capital | **US$75,000** |
| BOI application fee | **US$300** |
| BI probationary visa fee | **PHP 10,110** |
| BOI conversion of deposit to investment | **PHP 1,000** |
| BOI conversion to indefinite | **PHP 2,000** |
| BI probationary-to-indefinite | **PHP 1,010** |
| SIRV ID | **PHP 2,000** |

That totals roughly:

- **US$75,300** in capital + BOI application fee
- **PHP 16,120** in the main Philippine-peso government fees for one adult principal

I am intentionally keeping this as a **base-case official-fee estimate**, not an all-in budget.

# Costs people usually under-budget

## Documentary and compliance costs

- Police clearance fees
- Apostille / consular authentication
- Translation if records are not in English
- Medical certificate costs
- Bureau of Quarantine validation-related time/cost
- Photos, notarization, courier, and incidental admin expenses

## Stock-route execution costs

If you use publicly listed shares, you may also face:

- Broker fees
- Transfer fees
- Corporate secretary / transfer agent charges
- Costs of issuing or annotating a stock certificate
- Extra certification requests from BOI

This is where a plain "US$75k in stocks" plan can become meaningfully more expensive and more fragile than it first appears.

## Professional help

If you use counsel or an immigration handling service, that is separate again. I have not inserted any private-firm pricing because it varies widely and was not confirmed from official sources in this research pass.

# The deadline that matters most

The most important timing rule is the **180-day probationary window**.

BOI's 2023 FAQ says:

- the probationary SIRV is valid for **six months / 180 days**
- you should show proof of investment **at least 30 days before** the 180-day period expires
- if the investment is made beyond the 180-day period, penalties may apply

If you are going to use listed shares, do not assume you can fix documentation at the end. The stock certificate / annotation / broker paperwork risk means you should build buffer early.
```

---
# Document: Risks And Open Questions

Slug: risks-and-open-questions
Audience: Applicant
Updated: 2026-03-30
Raw endpoint: /raw/risks-and-open-questions

```md
---
title: "Risks And Open Questions"
description: "What can go wrong, what is still ambiguous, and what to verify before wiring money."
order: 3
updatedAt: "2026-03-30"
audience: "Applicant"
highlights:
  - "The biggest risk is that the stock route is legally allowed but operationally awkward."
  - "This visa ties immigration status to a maintained qualifying investment."
  - "A few official materials differ slightly on dependents and processing windows, so current filing practice should be confirmed directly with BOI."
---

# Highest-risk issues

## 1. The listed-stock route may be harder than it sounds

Official BOI material still supports investments in **publicly listed companies** for SIRV purposes. But the proof-of-investment package for publicly listed shares points to:

- stock certificate
- stockbroker certification
- buy invoice / official receipts
- BOI annotation restricting transfer without approval

That creates a real possibility that:

- an ordinary broker account is not operationally sufficient
- some brokers will not want to handle this use case
- some issuers / transfer agents will not move quickly enough for your 180-day deadline

This is the biggest practical risk in your current plan.

## 2. Immigration status is tied to investment maintenance

BOI describes the SIRV as lasting for an indefinite period **as long as the investment subsists**. If your investment stops qualifying, gets liquidated without proper approval, or becomes non-compliant on the documentary side, your residence status can be affected.

This is very different from a route where immigration status is already permanent and separate from portfolio management.

## 3. Market risk becomes immigration risk

If your chosen path is publicly listed shares:

- you are taking normal equity-market risk
- you may face liquidity or transfer-timing issues
- you may need BOI approval before disposing of the shares

That means portfolio decisions become immigration decisions.

# Important but manageable risks

## 4. Late-investment and late-report penalties

BOI's fee rules and FAQ indicate penalties for:

- missing the 180-day investment timing
- failing to submit annual reports on time

The schedule cited in BOI materials is **PHP 1,000 + PHP 100 per day late**.

## 5. Annual BI reporting still applies

The Bureau of Immigration reminded registered foreign nationals for the **2026 Annual Report** that all registered aliens must report within the first sixty days of the year, from **01 January 2026 to 01 March 2026**.

If you miss that requirement, BI materials say penalties can apply. So even after getting the visa, there is continuing immigration maintenance work every year.

Sources:

- [BI 2026 Annual Report advisory](https://immigration.gov.ph/2026-annual-report-advisory/)
- [BI Annual Report FAQ](https://immigration.gov.ph/faqs/)

## 6. Source materials are not perfectly aligned on every detail

There are small but important mismatches across official documents:

- dependent-child age appears as **under 21** in the 2023 SIRV FAQ, but older BOI wording elsewhere can mention **below 18**
- older guidebook timelines mention **BI minimum 10 working days**, while newer office charters can show shorter internal workflow timings
- some operational documents sit behind BOI's web application firewall and are easier to confirm via search indexing than via direct download

This does **not** mean the visa is fake. It means you should confirm the live checklist BOI will actually use **before sending money or buying stock**.

# Open questions I would ask BOI directly

1. For a **publicly listed company** investment, what exact proof package do you currently require in 2026 for:
   - certificated shares
   - annotation language
   - stockbroker certification
   - transfer agent / registrar documents
2. Do you accept holdings through a standard PSE brokerage account, or must the shares be registered directly in the applicant's name with a stock certificate?
3. For current filings, what is the accepted age cutoff for dependent children: **under 21** or **below 18**?
4. Does BOI have a preferred or commonly used set of brokers / transfer agents for publicly listed-share SIRV cases?
5. What current banks are BOI-accredited for inward remittance on the SIRV program today?
6. For annual BOI reporting and SIRV ID renewal, what exact cadence applies to a holder invested in publicly listed shares?

# Open questions I would ask the broker / issuer / transfer agent

1. Can you produce a **stock certificate in the foreign investor's name** for SIRV use?
2. Can the certificate carry the BOI-required annotation or lien?
3. How long does that process take after execution?
4. What fees are charged for issuance, annotation, and later transfer?
5. If the investor later needs to change holdings, what approvals and lead times apply?

# My recommendation before you apply

Do these in order:

1. Confirm the **exact current stock-route documentary package with BOI**.
2. Confirm the **execution mechanics with a willing broker and transfer agent**.
3. Only then decide whether the publicly listed stock path is still the best SIRV path for you.

If those answers are vague or inconsistent, treat that as a warning sign. The legal route may still exist on paper, but your personal execution risk may be too high.
```

---
# Document: Source Map

Slug: sources
Audience: Research
Updated: 2026-03-30
Raw endpoint: /raw/sources

```md
---
title: "Source Map"
description: "Primary and near-primary sources used for this dossier, with why each source matters."
order: 4
updatedAt: "2026-03-30"
audience: "Research"
highlights:
  - "Priority was given to BOI and BI sources."
  - "Some BOI PDFs are live but protected by a web application firewall; search-indexed copies were used to confirm content."
  - "This dossier is current as of 2026-03-30 and should be refreshed before any filing decision."
---

# Research method

This dossier prioritized:

1. **Board of Investments (BOI)** materials, because BOI administers the SIRV endorsement process and publishes the application forms and charters.
2. **Bureau of Immigration (BI)** materials, because BI implements the visa and governs annual reporting and related alien-registration procedures.
3. Older BOI guidebook / rules materials where they still add detail that the newer FAQs or charters do not spell out.

Current as checked on **2026-03-30**.

# Core BOI sources

## S1. BOI SIRV FAQ 2023

- URL: [BOI SIRV FAQ PDF](https://www.boi.gov.ph/wp-content/uploads/2023/08/SIRV-FAQ-ao-2023-v.pdf)
- Used for:
  - who may apply
  - dependents
  - eligible forms of investment
  - bank / stockbroker conversion flow
  - application fee
  - 180-day probationary period and late-investment penalty language

## S2. BOI downloadable forms / incentives page

- URL: [BOI incentives forms page](https://boi.gov.ph/resources/downloadable-forms/incentives/)
- Used for:
  - confirming the live SIRV form inventory
  - confirming BOI still exposes forms for probationary SIRV, conversion to indefinite SIRV, annual report, SIRV ID, and dependent inclusion

## S3. BOI Citizens' Charter 2025

- URL: [BOI 1st Edition 2025 Citizens' Charter](https://www.boi.gov.ph/wp-content/uploads/2025/04/1st-Edition-2025-BOI-Citizens-Charter.pdf)
- Used for:
  - official BOI-side processing window for probationary SIRV endorsement

## S4. BOI Citizens' Charter 2025, indefinite endorsement

- URL: [BOI indefinite SIRV endorsement charter entry](https://boi.gov.ph/wp-content/uploads/2025/12/Issuance-of-Endorsement-for-Indefinite-Special-Investors-Resident-Visa.pdf)
- Used for:
  - official BOI-side processing window for conversion to indefinite SIRV
  - confirmation of PHP 2,000 filing fee for indefinite-stage filing

## S5. EO 226 implementing rules

- URL: [Rules implementing EO 226](https://boi.gov.ph/wp-content/uploads/2020/06/RULES-AND-REGULATIONS-TO-IMPLEMENT-EXECUTIVE-ORDER-NO.-226.pdf)
- Used for:
  - the underlying legal framework for SIRV
  - BOI-side fee schedule and fine schedule
  - confirmation that application fee is **US$300 each**

## S6. BOI 2022 Investor's Guidebook

- URL: [BOI 2022 Investor's Guidebook](https://www.boi.gov.ph/wp-content/uploads/2022/07/2022-Investors-Guidebook-as-of-06-June-2022.pdf)
- Used for:
  - detailed documentary requirements
  - proof-of-investment requirements for publicly listed corporations
  - stock-certificate annotation requirement
  - older indicative processing windows

## S7. BOI investor visa FAQ

- URL: [BOI investor visa FAQ](https://boi.gov.ph/ufaqs/14-as-an-investor-what-visa-can-be-issued/)
- Used for:
  - concise official statement that SIRV entitles the holder to stay indefinitely while the investment subsists

## S8. BOI online assistance channels

- URLs:
  - [BOI OWN](https://boi.gov.ph/boi-own/)
  - [BOI Online Services System](https://boi.gov.ph/boss/)
- Used for:
  - locating live BOI support channels / intake systems relevant to future follow-up

## S9. BOI bank-related advisories

- URLs:
  - [EastWest SIRV depository-bank advisory](https://boi.gov.ph/sdm_downloads/advisory-the-eastwest-banking-corporation-through-its-eastwest-bank-gil-puyat-metrohouse-branch-is-now-a-boi-accredited-depository-bank-for-the-sirv-programs-inward-remittance-requirement/)
  - [Security Bank SIRV announcement](https://boi.gov.ph/boi-security-bank-ink-sirv-agreement-to-attract-more-foreign-investments-in-the-philippines/)
- Used for:
  - verifying at least some currently recognized bank relationships tied to the SIRV inward-remittance process

# Core BI sources

## B1. BI Makati Immigration Extension Office charter

- URL: [BI Makati Immigration Extension Office 2023 PDF](https://immigration.gov.ph/wp-content/uploads/2023/11/MAKATI.pdf)
- Used for:
  - BI workflow timing for SIRV implementation
  - BI fee schedule for probationary SIRV and probationary-to-indefinite conversion

## B2. BI 2026 Annual Report advisory

- URL: [BI 2026 Annual Report advisory](https://immigration.gov.ph/2026-annual-report-advisory/)
- Used for:
  - current annual-report deadline for registered aliens
  - confirmation that the 2026 reporting window is **01 January 2026 to 01 March 2026**

## B3. BI Annual Report FAQ

- URL: [BI FAQs](https://immigration.gov.ph/faqs/)
- Used for:
  - annual-report applicability and general alien-reporting obligations

# Research caveats

## BOI firewall issue

Several BOI PDFs are live but sit behind an aggressive web application firewall that blocks direct scripted fetches. Where that happened, I relied on:

- search-indexed text from the same official URL
- BI or BOI companion materials that confirm the same process detail

I did **not** rely on social posts or forum chatter for the core legal conclusions.

## What should be refreshed before action

Before you wire money or sign brokerage paperwork, refresh:

1. the current BOI live checklist for the stock route
2. the current set of BOI-accredited depository banks
3. the current BI fee table
4. any health-entry or documentary changes that may have occurred after 2026-03-30
```

---
# Document: Next Codex Prompt

Slug: next-codex-prompt
Audience: Codex
Updated: 2026-03-30
Raw endpoint: /raw/next-codex-prompt

```md
---
title: "Next Codex Prompt"
description: "The handoff context another Codex should read first before continuing the research or editing the site."
order: 5
updatedAt: "2026-03-30"
audience: "Codex"
highlights:
  - "This page is intentionally written as a reusable continuation prompt."
  - "The fastest single-file handoff is now available at /raw/dossier."
  - "The raw markdown version of this prompt is available at /raw/next-codex-prompt."
---

# Reusable prompt

## Copy-paste this into another Codex

```text
Open https://site-seven-sigma-95.vercel.app/raw/dossier
Then open https://site-seven-sigma-95.vercel.app/raw/next-codex-prompt
Use those as the source of truth and continue the Philippines SIRV research.
```

```md
You are continuing a live research dossier about the Philippines Special Investor's Resident Visa (SIRV) for a user who wants to know whether investing around US$75,000 into Philippine stocks can be used to lawfully stay in the Philippines, and what the real application, timing, cost, and risk picture looks like.

Context already established:

- The relevant route is the SIRV under the Board of Investments / Omnibus Investments Code framework.
- Current BOI materials still support the US$75,000 threshold and still recognize investments in publicly listed companies as an eligible investment path.
- The critical practical issue is that the stock route appears to require BOI-compliant proof such as a stock certificate, broker certification, receipts/buy invoice, and a BOI annotation/lien restricting transfer.
- Therefore, the open research problem is no longer "does the visa exist?" but "how practical is the publicly listed stock route in live execution, and what exact documentary package does BOI currently require?"

Your job:

1. Start with `/raw/dossier` if you want the whole site context in one markdown file.
2. Then read these pages if you want the split-by-topic version:
   - /docs/applicant-guide
   - /docs/timeline-and-costs
   - /docs/risks-and-open-questions
   - /docs/sources
2. Use current official or near-primary sources only for legal / immigration updates.
3. If you learn something material, update the markdown files in:
   - content/docs/applicant-guide.md
   - content/docs/timeline-and-costs.md
   - content/docs/risks-and-open-questions.md
   - content/docs/sources.md
4. Preserve the basic site structure unless a structural change is necessary.
5. Mark any inferences explicitly. Do not flatten inferred execution details into "official facts."

Priority unanswered questions:

- Does BOI in current live practice require directly registered / certificated shares for publicly listed-company SIRV cases?
- Which brokers / transfer agents are realistically capable of handling the stock certificate and BOI annotation requirements?
- What is the cleanest current end-to-end checklist for an applicant filing from inside the Philippines on a tourist visa?
- Are there any 2026 changes in BI or BOI fees, annual report rules, or accredited banks?

Output preference:

- Keep the site focused on practical applicant guidance.
- Prefer tables, checklists, and direct source links over narrative filler.
- Call out risk where immigration status depends on market holdings, transfer restrictions, or administrative deadlines.
```

# Local file map

- Main app: `site/`
- Markdown docs: `site/content/docs/`
- Loader: `site/lib/content.ts`
- Route pages:
  - `site/app/page.tsx`
  - `site/app/docs/[slug]/page.tsx`
  - `site/app/raw/[slug]/route.ts`

# Live-site usage

If another Codex only has the deployed Vercel URL, use these in order:

- `/raw/dossier` for the full single-file packet
- `/download/dossier` for a direct markdown download
- `/context` for the machine-readable manifest

- `/raw/applicant-guide`
- `/raw/timeline-and-costs`
- `/raw/risks-and-open-questions`
- `/raw/sources`
- `/raw/next-codex-prompt`

# Editorial rules

- Keep all legal / immigration claims tied to current official sources where possible.
- If a source is older but still useful for process detail, label it as older.
- If BOI and BI materials differ, say so plainly and avoid pretending the conflict does not exist.
- Treat the stock route as the main risk area until stronger evidence narrows it.
```

---