BI stresses need for foreign investors to secure visa

Published November 16, 2020, 1:54 PM

by Jun Ramirez

The Bureau of Immigration said a prospective alien investor must first secure an investor’s visa before he is allowed to enter the country.


BI Commissioner Jaime Morente explained that only those with business visa and Special Investor’s Resident Visa issued pursuant to Executive Order No. 226 are welcome.

“Those with other visa types not yet cleared by the Inter-Agency Task Force (IATF) will still be restricted,” he said.

The BI chief came out with the advisory to answer queries and concerns expressed by several business groups.

Visas under EO 226 are given to employees and executives of multinational companies with headquarters here as well as their spouses and unmarried children below 21 years of age.

These visas are valid for three years or until the expiration of the alien’s employment.

The SIRV is a program of the government to attract foreigners to invest in the country.

The spouse and unmarried children under 21 years of age of the SIRV holder are likewise required to secure an SIRV as dependents.

However, he stressed that “SIRVs issued under Executive Order No. 63 for tourist-related projects are still restricted.”

“Only those issued under EO 226 may be allowed for now, following the IATF ruling,” he stated.