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Looking for information bring more then 10,000 us into the Philippines

Last activity 28 February 2015 by mugtech

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PhilCanbeno1

I would like to know the best way to bring investment capital into the Phillipines?

mugtech

Deposit insurance in the Philippines only covers 500,000 pesos or about $11,000 USD, so you want to use two banks, don't want to carry large amounts of cash.  Best be sure about your gf if you are going to be putting land and buildings in her name.

James Mitchel

Live your money at home. And set up a account here. Do a wire transfer to your account here. Check with your personal banker at home to do this.  Plan on tax problems with the IRS. if American.

Jerrycontrary

I agree leave your money at home in your bank but make sure your bank is too big to fail like the comglomorate chase bank in the u.s. and talk to your banker first before coming.

iemanja

Open a bank account with multinational banks like Citibank etc. Not sure if there are fees and how much but their branches here should be able to give you access to your US/Hong Kong/Wherever funds.

waxytweety4

open an account to international banks.. like hsbc, maybank, citibank.. etc.

mugtech

Jerrycontrary wrote:

I agree leave your money at home in your bank but make sure your bank is too big to fail like the comglomorate chase bank in the u.s. and talk to your banker first before coming.


Most banks will have FDIC coverage up to $250,000
If you have more than $250,000 use more than one bank.

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