Canadian coming Philippines wanting ideas for investing

Sorry my investment range is 5000 to 20,000 us range not 500.

There are no good investments here.   You need a partner and they will own over 1/2 the busness here.

Already know this I do have gf be marrying later thus year and seen already some oppurtunities there been there twice this my third trip and will be doing something small then see how it goes.
Even going stock market so I think is a chance there abd anyways it's more in the Phillipines eh!
Salamat

What is your business?Do you have any information for me to review?

Sir, you might be interested in investing in health and wellness business...Kindly visit our website santebarley.com/Mitztop1

Ok I will be in Manila next week but traveling few days after but be back Manila a few weeks after this.
When back I will let you know,you should have my email.

Do you have connections with the health field?I have am American associate that have connections for used hospital equipment from the USA.
Send me an email to this address [email protected]

Hi Rummel

Do you plan to be in Manila soon?
I leave 28 from Canada.

Best regards
Billy

Hi,

Before doing business here in the Philippines, I have some few tips that might help:

- Determine the entry regulations for those wanting to begin their business
- Know the rules governing foreign investors owning property or businesses
- Research the monetary guidelines for the amount of money you can bring in or take out of the country
- Know the restrictions on foreigners owning property
- Consider the tax system in the country and any laws governing incomes
- Check the rules governing the employment of foreigners over local workers
- Research business practices
- Seek legal advice (important)

I have been doing this,am I allowed to bring bank notes over 10,000 us and deposit them in BDO bank?
Are you a lawyer in Phillipines?

PhilCanbeno1 wrote:

I have been doing this,am I allowed to bring bank notes over 10,000 us and deposit them in BDO bank?
Are you a lawyer in Phillipines?

Nope, but I am working for a consulting firm in the Philippines - Kittelson & Carpo Consulting which provides consulting and assistance to companies starting and doing business in the Philippines.

Ok what are you costs?Can you send me email and put your phone number in it.
Mine is backbaylobster@yahoo. Ca

Sir, here's my number and my email add  +639155470376  [email protected].

Mita Lopez

fyi. foreigners may open up a business here in the philippines with 100% ownership except for nationalised industry as defined in fia. so pls dont be misguided by ignorant people making comments about bad investment or shared investment in the philippines. they are just naive and nuisance.

Unless you have a SRRV visa, or legal resident status in the Philippines, DO NOT INVEST IN THE PHILIPPINES.
It's a long process. Take your time, and NEVER put any investment in the name of your Filipina wife/finance/girlfriend.
She will take all eventually.

There are many opportunities in the Phils if you have a good faithful wife/partner. Anyone who says otherwise isn't an entrepreneur. I have a business happening right now that are very profitable and we are helping locals to make their businesses profitable. Be wise and beware of wolves trying to devour your profits. (Family members)

Lots of bad advice here as well by guys that have been burned. Not all women are out to scam you!

The rule of thumb is that you need to be careful in doing business here; but it is true that if you have the right people, right business for you and location, business here in the Philippines is lucrative;

By the way, I am a Fil-Canadian and a Financial Controller in Vancouver; I find going to big banks here such as BPI, EastWest, Metro Bank for investment advice is very informative and they can assist you; as to Filipinos if you do credit check in Canada, here you have to check/verify more;

And carry with you a lot of patience and determination!

Good Luck!

spasquier wrote:

Unless you have a SRRV visa, or legal resident status in the Philippines, DO NOT INVEST IN THE PHILIPPINES.
It's a long process. Take your time, and NEVER put any investment in the name of your Filipina wife/finance/girlfriend.
She will take all eventually.

I tend to agree with this as a general rule.  So many come to the PI and have zero ideas about local laws and base their speeding or investment on "love".  IMHO, unless or until laws in one country are of a reciprocal nature regarding the the country of the foreign person wanting to invest, one should limit the speeding of investment funds.  Once ready, be very careful, perform due diligence and properly document all investments with any/all persons that may be involved. 

Note: When a foreigner can't purchase land in his/her name but can be placed on the note for payments with a special notation on the deed as "Foreign Spouse", one needs to be careful. 

Example: If a person from the philippines can go to the USA and purchase land or house and there is no special notation or laws stopping the legal ownership, Americans should be able to do the same in the PI.

If the truth is considered (by some) to be a discouragement to investment, then the people of the PI need to place pressure on their leaders to amend or change the laws for equal investment by each country.

Agreed, the family expectations (by some families) will place mounting pressure on the Fil member of the marriage/team and can destroy harmony/balance/profitability.  In general, a foreigner can't go it alone here and must find a trusted person/spouse/partner to get past the obstacles/language/officials.

PhilCanbeno1 wrote:

Already know this I do have gf be marrying later thus year and seen already some oppurtunities there been there twice this my third trip and will be doing something small then see how it goes.
Even going stock market so I think is a chance there abd anyways it's more in the Phillipines eh!
Salamat

You need to first slow down and learn the laws here.  Consider the various corporation types and try to avoid "partnerships" or undocumented "joint ventures". 

Then make a plan based on what you can control legally.  Be sure to consider other options that center on % of legal ownership.  Do not be shocked with the lack of proper business plans or any documents that outline ROI (typically 1, 3, & 5 years out). 

However, insist on understanding any accounting system that will be needed or used.  Avoid a "bookkeeper/accountant" that does it all manually (avoiding cooked books) and may be hired by the Fil partner (if not spouse).


Get all your local ID and proper Immigration status cleared before even one Peso is handed over (getting your ACRI Card is imperative prior to any related official or business actions).  Once you can legally open a Bank account here, make all arrangements thru that account or a special sub-account.  Try to keep all monies in a particular bank account for the investment.   DO NOT hand others here cash!!!

Lastly, make sure you understand the % of hard cash/actual funds any other local will invest up front.  Be prepared with agreements and contracts to even take or give cash.    Be careful here!

One thing we have to be realistic is that our spouse maybe foreigners or local do not also know the laws on business though they are in good faith trying to have a business with the partner/spouse! I have encountered families getting burned by their own relatives and there are several!

Cynthiavilla wrote:

One thing we have to be realistic is that our spouse maybe foreigners or local do not also know the laws on business though they are in good faith trying to have a business with the partner/spouse! I have encountered families getting burned by their own relatives and there are several!

Another good point!  Starting a business here is like when we go to buy a 2nd hand car.  Maybe 90% of the locals will NEVER place the registration in their names and pass the documents along to the next 2-8 buyers with non of them ever paying the registration/taxes for transfer.  This is typical of the "shortcut" mindset and overlaps into nearly all areas of life (business to language spoken/texted, etc.) in the PI. 

SInce the legal language of the PI is English, this should make is very easy for Filipinos and North Americans/British/Australians to study/learn the laws & properly document their investments.  However, if left up to most locals, it will be just shortcuts after shortcuts where there is a perception to save even P1.

it depends what is your goal:
- if your goal is to keep you busy without making profit, go for it. But losses are more common.
- If you expect to make a profit to make a good living, you will be disappointed.
- If you do make a profit and good money (like resorts do), everybody will hunt you, and request bribes: police, politicians, neighbors, wife's relatives, local administration, etc....and squeeze you till the fruit is dry.
Good decision making.

Thanks for your insight Cali-native! I'm sure your comments will help. I also appreciate the info.

Sometimes good to fly under the radar.

tnx for accepting

barryalls wrote:

Thanks for your insight Cali-native! I'm sure your comments will help. I also appreciate the info.

You are welcome!  I have talked to/observed so many US Expats here that claim to be semi-business owners or that claim to be seeking business opportunities, but have yet to even bother to get their Phil TIN from the BIR.  The ACRI Card is just a 1st step, but many just stop there. 

The sad part is that many US Expats do not realize that their foreign bank account is reportable and if <$10K is subject to U.S. reporting for possible income tax, regardless of where they reside.  Once the $10K in a foreign account is reached, the FBAR reporting each June 1st kicks in.  This also requires US filers to electronically file the FBAR through the BSA E-File System.

It may be easy to talk about starting a business in the PI but any serious talks need to include a complete understanding of the person's home country's foreign bank account & income reporting requirements. As I understand it, the USA and Canada have similar laws on foreign bank account amount limit reporting (regardless if income or savings).

Hi, you had mentioned that you would like to invest on properties where your girlfriend lives, am i right? what about buying a condominium in Manila? It's a two bedroom, fully furnished. If you are interested, let me know by email.

Good day!

Hi, this is eL Mont, try the area of Western Visayas as an investment option, its a new boom in development venture. The area is low density in terms of peace and order so you will feel safe. I am presently based in the Panay area or Iloilo City, I've been into the project consultancy business for sometime and its a good start up if you look for an ave. of $20,000.00 as initial investment.

Email for inquiries on business opportunities for the Western Visayas area to [email protected]


Regards,
eL Mont

Never deposit even one Peso on property (Condo, land, house or building) at any location here in the PI unless and until you (the foreigner/investor) has read and understands the laws on TCT & CCT based ownership ....  NEVER!

A simple few first steps after a study of TCT & CCT laws:

If private seller, visit the Register of Deeds which issued the TCT or CCT and compare the seller's copy of the TCT or CCT with the original one filed for authenticity and veracity of the title.

You cant buy from a dead person.  Many deeds are generations old and the person named has passed but the family "saved money" by not getting proper/current title.  Therefore, establish live Seller's current documented Ownership of Property.

If Condo/Townhouse developers, request for copies of Certificate of Registration and License to Sell from the Housing and Land Use Regulatory Board (HLURB).

Don't do it. You will get took is my thought.  No way you can compeat here and win. Some internet business can do it but leave your money in your Country. I see lots of oportunity here.  But you will need folow all regulations and they do not. So you can not compeat unless you hold the paten here.  You could buy a steel boat and have them scoop sand over the side in the river.  Then sell the sand. Till the crew mutinies drounds you and steals your boat.

Matnog is southern bicol,  i live naga city
nice part of Philippines
making money here is hard ,my wife and I have several business the most successful is our canteen in a school but bloody hard work, my English mate has a bar but he struggling and I note bars open and close here often but it may be different elsewhere, if you start a bar make sure it has food and if you wanna attract pinoy have a pinoy run it.
Peter

eL Mont wrote:

Hi, this is eL Mont, try the area of Western Visayas as an investment option, its a new boom in development venture. The area is low density in terms of peace and order so you will feel safe. I am presently based in the Panay area or Iloilo City, I've been into the project consultancy business for sometime and its a good start up if you look for an ave. of $20,000.00 as initial investment.

Email for inquiries on business opportunities for the Western Visayas area to [email protected]


Regards,
eL Mont

Unquestionably, $20K or P870K is quit a lot to invest based on a region and it's "reported boom".  IMHO, a true investor will speak the same language (i.e., identifying/presenting the economic value or return at a given time) as the person/firm/company offering a true investment opportunity. 

So far, each time a "so-called" investment opportunity has been delivered to me, the person has failed to understand, be prepared with and or discuss the 5 basic areas of ROI.  Of course, data collection and analysis is key to making a sound investment decision.  However, reviewing or being prepared with such program costs and impacts seem so foreign here. 

Until or unless the consultants and other real estate related business professionals in the PI are able to provide solid data on "return on investment" related to the costs, our opportunity to assess the true ROI remains "strategically obscured" in the Philippine investment venture cloud.

Just as a reminder to all expats…. The Philippines SEC oversees investment houses, financing companies, securities dealers/brokers, and investment companies.  In addition to confirming a person's "credentials" to legally offer you an investment here in the PI, please look at some of the policies and studies published by the Asia-Pacific Research and Training Network on Trade (ARTNeT). 

Lastly, consider regional issues (i.e., China and the fight over selected islands, etc.) near to or in the region being offered/considered (as the investment venture) with an understanding of (along with a targeted view on) diversification opportunities for that purposed investment.

When you find a local that will initiate investment talks in these areas FIRST, you may have the foundation for trusting a person that you can eventually move forward with to invest your hard earned resources.  Due diligence first, best wishes folks.

What ever you decide to do I strongly recommend that you spend at the very least one year here before investing.

You will thank me later.

Regis
filcancommunications.biz

What ever you decide to do I strongly recommend that you spend at the very least one year here before investing.

You will thank me later.

Regis

hi,
i have been in Asia for the last 26 years. 

I live all that time in Manila, and travel from and to basically in Asia.

Doing business in the Philippines doesn't look to me more difficult than in any other Asian country.  Or even in any country in Europe for that matter.
When you want to do business in the Philippines, the least of your worries is your spouse.  And in my experience they are - and i say this with the utmost respect - the most reliable in Asia.  And there are ways to still buy properties without giving it all out of hands.  That is a detail in the discussion i think.

What my advice to you is that when you are here, to never mention you want to invest any money in something.  It attracts flies more than crap.   All sorts of ideas from locals and foreigners who all need that cash for their daily bills.  Consultants who want you to start up a business and warn you for all the pitfall , not because its difficult but because they need to get paid also. 

Don't start up a company or get in to any commitment yet.  Learn first about who you are dealing with.  it may save you 20.000 usd.   And to learn who you are dealing with, that takes time.  lots and lots of time.

Try to blind in and accept their defaults.   Sure you also know that they are never in it for the long run,  nor do they feel the need having to pay for things nor do they feel the need to follow any kind of rule and they are known for the lack of liability and reliability.   

But more important is how can YOU deal with their nonsense and incapability BEFORE you invest in a business.  As once you would decide to invest, you would need them to make it happen !!

Investing in a country is noble, but that wont buy you a thing. 20.000 dollars is peanuts, and that only pays for monkeys.  Do not expect any gratitude nor respect as it will not take longer than a New York minute before they forget all about you or your money.  After all, a foreigner is only welcome if he spends money.

The main problem in the Philippines is that there are NO rules.  And the nice thing about the Philippines is that there are NO rules. 

Get to know the country first.  And not some resort, or Fort Bonifacio.  Not the buildings are important but the people are.  Can you deal with that ?  and how about dealing with it for a long time.  How they think, presuming they do, and how they cope with problems, presuming they do.  And very important, can you stop thinking as a western also.....

in my years being here, i keep saying to everyone over and over again.  In Europe and the USA, they are looking for the million euros/dollars.  In Asia they look for 1, say peso, but they do that a million times
They have learned to live to what they earn.  Their expectations are much lower.

Learn the issues of how government works.  as it does work. And if it seems all confusing, lets blame most of the american influence - read crap - on that.  They need a whole lot of permits in the US also to get things done.  The Philippines have only copied that from those dunderheads.  Ever paid for a package of smoke in a 7/11 store in the US with a 100 dollar note ?  they are far more suspicious in the US then in the Philippines.  And with all them security guards here that means something.

When you are here long time, you would realize why things can be different from barangay to barangay.  From province to province. 
Everyone makes a bit their own interpretation of the law and on how it should be.  Lawyers hardly every know how things are but keep up appearances for as long as you pay the fee.
Not more different then in any other Asian country.  Hong Kong and Singapore included.

Can you live and accept a mentality here in the Philippines where technology has been faster developed by foreign countries then the local people themselves, faster then its laws, its social security, its urbanization, its infrastructure, its education, its mentality and the capacity to pay for the cost.
Where its important to have a phone, but no one cares about the signal ?

No doubt, when you are here some time, and live like a local, not like a tourist or a foreigner, you would most certainly be surprised about the way people have to struggle to survive.  And you might understand why sometimes they give up trying in the hard way and go for the easy way, why they envy the foreigner throwing around cash.  After all, most of them have to work very hard, maybe (certainly) harder then any foreigner ever did to meet months ends and to provide a future for their children in the hope they would have it better then they ever did.

Personally i hate it when a taxi driver asks extra (dak dak)  but ever driven 16 hours a day for 7 days ?  in Manila traffic where again are no rules ?  and how about for 10 dollars net profit per day, at the best case.  wouldn't you want to find a way to ask more ?  I know i would

If ever you realize this country is indeed for you, i am most certain that at the same time, you would know best yourself what to do with your own cash you think to invest, surely more than any consultant or professor  who tells you afterwards what you should have done ahead.


Eric

don't you want to do business in cebu?
in lapulapu city, there are many foreigners with filipina girl friend doing bar business near the seasides.
doing financial investment  in the philippines is good too
if you are interested,
please do let your girl friend contact me.
i can give her moe ideas.
am an accredited license agent