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Presidential Election - changes for expats?

Last activity 27 June 2022 by Guest8754

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Guest295824
Djameel
Hello,

Kindly note that some off-topic posts have been removed from this discussion.

Thank you

Djameel
Expat.com Team
johncroy

@Djameel Kindly note that some comments were removed for political reasons because there are a lot of off topic comments in other forums and that have not been removed for years.

Okieboy

@Puddman foreigners will never be allowed to own land in the Philippines, long term lease like Vietnam would be good

coach53

@Puddman foreigners will never be allowed to own land in the Philippines, long term lease like Vietnam would be good

- @Okieboy

The part about owning is partly wrong still, which I have told many times.
Foreigners CAN own land partly
/by owning max 40 % of a business which own land.    (Same princip as within a condo unions.)
/Kind of own smile.png   half by marriage. Wife is full "manager"  but foreigner can protect himself so wife cant sell it without the foreigner sign too. (As a friend of mine has blocked his greedy wife from selling.)
/If inherit land from Filipino spouse, then foreigner own the land TEMPORARY, but have to sell it within a limited time.
Darwin Barr

@Okieboy Correct!

Enzyte Bob
Owning 0% is better than owning 40%. . . . . . 40% that means a partnership. If it's in a business, you don't want to go broke on your partners mistakes. If you go broke at least do it by your own mistakes.

In a marriage, legal or common law, in first world countries there is equal distribution of post marriage assets. In the Philippines there is zero distribution in favor of the Expat.

You've heard the phrase seven year itch, well it's less than that in the Philippines. . . different culture, language, education, age, finances and motivations for cohabitation.

Some will make it beyond seven years, but not enough to fill a Jeepney.
coach53
Owning 0% is better than owning 40%. . . . . . 40% that means a partnership. If it's in a business, you don't want to go broke on your partners mistakes. If you go broke at least do it by your own mistakes.

In a marriage, legal or common law, in first world countries there is equal distribution of post marriage assets. In the Philippines there is zero distribution in favor of the Expat.

You've heard the phrase seven year itch, well it's less than that in the Philippines. . . different culture, language, education, age, finances and motivations for cohabitation.

Some will make it beyond seven years, but not enough to fill a Jeepney.
- @Enzyte Bob

Well correct IF making a Partnership
BUT wrong when making a SEC limited.
Lotus Eater
@coach53


The whole idea of an asset is thats its fungible, liquid, and realisable. I'm not an expert on Philippine land law and property ownership rights but even if the foreigner can 'protect himself' by 'blocking' as you state a sale surely its a Pyrrhic victory. The time will be on the Filipina's side and she knows it. Your money is tied up.

Moreover the asset value will not have appreciated in value as much as its equivalent in western countries meaning a big opportunity cost financial loss.
PhilRes
the problem with 40% via a corp is the whole corp structure is seriously unattractive given the paperwork, directors, etc., Not know many readers here actually have incorporated a company to buy land here. 

In Thailand it de facto recognized even if tech. illegal, using nominee sharholders/directors to hold the local interest.  I had very switched on guy who bought two 2m properties have each local company be a shareholder of the other, made my head spin, but he was operating in an environment where the Thai gov't permissive.  HERE, you have rules on directors AND now UBO registers so any "nominee" is going to be on record as UBO so good luck if you get into a dispute.

So after watching this space for 7 years my opinion is:

1. Buy a condo at true market rate but happens to be one under the 40% of units that can be foreign owned, so you legally own a fully marketable, i.e. liquid, property.  They exist.

2. Organize with a trusted local for the purchase of raw land owned by the local but at purchase 30 year renewable lease by you, registered on the Deed. then build your house.  You can finance the Local to make the purchase with what is effectively the lease payment. So the economic value of the land is zero as your lease is registered and paid for.  Yes corruption, etc etc. risk...but hey this is starting with foreigner buying property in Philippines...

3. Do a similar deal for an existing house, hell maybe even just with a realtor, where purchase is the land and all improvements are leased for 30 years plus 30.

I think done well you can sell your lease to another foreigner, maybe an SSRV that can pay with his SSRV deposit as it a legit investment.

What I would not do is use a Company, trust any "nominee" relationship, or buy some marketed condo to retirees at bad value.

There certainly other ways to do this, but as to companies, please if somebody ACTUALLY did that, would love to hear how that going....
coach53
@coach53

The whole idea of an asset is thats its fungible, liquid, and realisable. I'm not an expert on Philippine land law and property ownership rights but even if the foreigner can 'protect himself' by 'blocking' as you state a sale surely its a Pyrrhic victory. The time will be on the Filipina's side and she knows it. Your money is tied up.

Moreover the asset value will not have appreciated in value as much as its equivalent in western countries meaning a big opportunity cost financial loss.
- @Lotus Eater
While I am expert   smile.png   I studied both such Philippine laws, businessand tax laws much several years ago. Thats why I "have correct" both foreigners and Filipinos because its a common missunderstanding. But others know more than I about Visas alternatives and such, but I know enough to manage to get what I want.
(I studied theese laws in point of view how to get it as much as possible as I want.)

"The whole idea of an asset is thats its fungible, liquid, and realisable"
WRONG.  It can be huge value to have possibility to USE an asset.
Its a big difference between
lose all
and hard to liquidate.
Btw in the example I wrote where my friend had protected himself, the greedy Filipina WIFE want to SELL.  He find that ok too but no way he agree to not be sure to get half if he sign so the selling is postponed until he can travel there.  (He need to recover from cancer first.) 
They have got a very high offer compared to what these lands were bought for because back then rural have become "central" when the town has grown   smile.png   The second biger land he bought in then born eldest child's name so of that the greedy wife will get nothing   1f923.svg   It will be splited between the kids.

"Moreover the asset value will not have appreciated in value as much as its equivalent in western countries"
WHAT?! PERHAPS it can be true in some situations but e g:
/Philippine stock market has managed much BETTER than "western" stock markets (until covid and the US stimulus checks made Nasdaq changed from to high valuing to CRAZY to high valued.  I earned rather high percentages at "western" markets from 1978 to 2008 (when my stock went UP 50 % when the market FELL that autymn.  But nowadays there are so few bargains if any at "western" markets because of the crazy general overvaluing. BEFORE the crazy overvaluing average earning in the stock market businesses was only 8 %... So I lost interest for "western" stock markets over 10 years ago and a rich profesional stock market friend of mine lay mostly liquid by he has problem to find something worth buying.
It has been much better development and potential for SE Asia in general compared to "Western" countries since 20+ years (although covid have screwed up some) and USA have MORE CRAZY overvaluing than e g the Swedish stock market. 
I prefer the opposite to "western" stock markets, because I prefer to buy for LESS than things are worth...   smile.png

/(Before covid) both some city and tourist places had got overheated, prices had gone up very much.  (I dont know the amounts because I have never been intestered in settling at such locations). 
But rural land has gone from
/no one was buying so kind of zero worth if not using it self.
/Then a Palm oil company started buying land for mostly 4p per sqmeter, sometimes 2p, which made it became a rush to go there to sell by land owners who had moved away to work.
/Now the lowest for such is very seldom 6p, not so hard to find 10-20p but rather many get sold for 40p sometimes more. 
Thats when interested have money    smile.png

It can be some hard to find buyers though, although e g one we were interested in buying got sold very fast.
I prefer to buy for LESS than things are worth...   smile.png     I have found real estates where the ASKED price are less than 1/3 of the real value so we dont even bother to try to haggle. We have bought one.  Second planned havent documents in order so now we are close to buy an other (if the documents are in order as they say but we have only seen the real estate yet so left to see.)  These are at top of wish list because of locations compared to what we have allready, but otherwice we will buy some of the other "to low" asked price some away but then it would be some harder to merge/coordinate them by the distance.)
But we are buying to KEEP and earning will be by USING whats on them and plan is to buy more and more such for future profits, the business is planned to develop exbanding and develop thinking generations ahead as succesful chineese do    wink.png    So NO NEED of a real estate sale exit by the earnings will be from the business at these real estates...
There are some huzzles by slow permit handlers - we have got 5 but not yet the last needed to get started - but the potenital is MUCH higher than average in "western" countries.  The one we have bought will generate AT LEAST three times the investment to the investor (=me) after some years, when I have given the Filipinos a very generous share compared to what they would have got normaly, but still much less than others than the investor get in "western" countries.   
By looking at statistics for earlier years for price fluctuations at such products it wouldnt be odd if it become even 8 times the investment, but in my rough future planning I count with 4.
Much more interesting than whats common in "western" countries I think...    smile.png

Although it took a while searching before I found some business types with interesting potential and I skiped many during this process.  Some had even very much missleading info from "experts" who I suppouse are paid by them gaining at it. I lost only time myself at one of such kind of scams, but many Filipinos have lost much by such  1f621.svg
coach53
@PhilRes      Yes company is a hazzle.  I just told its possible   smile.png    although my origin idea with INVESTOR SMALL shareholders spread not knowing each other would make foreigner 40 % have the power in reality by few will come to the shareholders meating and shareholder meating elect the board, so I would need only one Filipino wanting to act clever   = As I want   smile.png   so they dont screw up.
I suppouse these small e g OFW shareholders would find it satisfying by they would earn much more than average of them often loosing money when they put an incompetent relative of theirs as manager in a business several OFWs have financed at got lost...  By my idea they would have got choise to cash in after around 5, 10 or 20 years depending of when they want to move home and they would get option to get a nice land to build home at from the lands the business will have anyway plus free basic business education if they want to start own business with the money they cash in.  Or they could chose to just reinvest in new projects in the company.  In the Philippines its possible to "Print shares" easy, which can be used for missleading/scamming shareholders but we would just use it to make it fair between exsisting and new projects.
((But I did an other solution much simpler as long as we are just two involved, which function good for me and in contract I have option to get all transformed to a SEC company if I ever will want to. I dont tell how because I have worked hard to figuere out that solution, but it have got approval by each officials checking their part of the total.  Not sure if they have understood  smile.png    Its my Filipino who gain very much by this different solition anyway. That part is only allowed for Filipinos. For me is the gain mainly simpler handling after I had figuered out how.))


- -
What you descibed in Thailand, the Philippines have some similar where incompetent/scammer lawyers FOOL foreigners the lawyer know a lopehole using DUMMIES to get around "The Anti-DUMMY law" !!!  1f923.svg1f923.svg1f923.svg  Obviously such are ILLEGAL and cant manage a proper legal control. So its realy crap for the foreigners who have got fooled to get such for their business or real estate if noticed or if they will need to try to use theese illegal documents in court...

- -
If they havent changed it,  in Phils leases are 25 + 25 years max.  A while ago politicians started discussing if skip that max rule, but I dont know if they have decided anything.
Okieboy

@Vannder I don't see a lot of changes, just a lot of paperwork as always, one of the few countries that charge you to leave

Enzyte Bob
(1) In 1775 Benjamin Franklin organized the postal system in the US. In 2022 Philpost has yet caught up with the postal service of 1775.

(2) Traffic control and enforcement, in 1914 the first traffic signal was installed in the US. In major cities throughout the world traffic is monitored in a central location and traffic light controls are implemented for the movement of traffic. Red lights, stop signs and pedestrian walkways are meaningless here.

(3) Pollution controls of the waterways and air should be improved.

(4) Zoning rules should be implemented.

(5) The transportation system is a mess with tricycles, motor bikes, private cabs, Grab and Jitneys running amuck.

Sidebar: My daughter-in-laws, sister-in-law was almost a robbery victim by her cab driver several days ago. They sure have things backwards in the Philippines.
Lotus Eater
@coach53

"Moreover the asset value will not have appreciated in value as much as its equivalent in western countries"
WHAT?! PERHAPS it can be true in some situations but e g:
/Philippine stock market has managed much BETTER than "western" stock markets (until covid "

The discussion above is about land and property prices not the stock market.

Property and land prices (which even you will agree are closely linked) have dropped by an average of about 12% in the past two years in the Philippines during covid. According to the OECD the average property price in the 20 leading  western economies have increased during covid by about 20%. For example in your native Sweden house prices are up 28% in the period Q4 2019-Q4 2021.

"The whole idea of an asset is thats its fungible, liquid, and realisable"
"WRONG.  It can be huge value to have possibility to USE an asset."

Not if the asset is based in a country like the Philippines. The sheer opacity of the Philippines land and property market in terms of pricing not to mention the legal complexities and associated conveyancing and legal costs make for a living nightmare. If things do go wrong and the courts get involved well good luck with that. The asset cannot be passed on until title has been settled. The legal process is akin to watching an hour hand of a clock go around.

The majority of  expats considering the purchase of land or property in the Philippines will do so by selling their main (liquid) asset in their home country. They cannot afford to sell  this asset for a punt on what at best is a volatile market and at worst a potential financial sink hole once the honeymoon period has run its course.

Furthermore its pretty rich to give 'advice' on this Forum without having had first hand experience of implementing what you preach in abundant voluminous never ending quantity. May I suggest that 'preaching' is about the only thing that you excel at.
coach53
@coach53

"Moreover the asset value will not have appreciated in value as much as its equivalent in western countries"
WHAT?! PERHAPS it can be true in some situations but e g:
/Philippine stock market has managed much BETTER than "western" stock markets (until covid "

The discussion above is about land and property prices not the stock market.
Part of the discussion was about businesses too,
and the earnings in stock market companies are a sign of earning potentials in general in each country.
Property and land prices (which even you will agree are closely linked) have dropped by an average of about 12% in the past two years in the Philippines during covid. According to the OECD the average property price in the 20 leading  western economies have increased during covid by about 20%. For example in your native Sweden house prices are up 28% in the period Q4 2019-Q4 2021.

So you count prices because of COVID being more relevant than including historical trends before that?!!!   1f923.svg
INSPITE of the demand have become less in Phils BECAUSE of covid - both by crisis for many Filipinos and new foreigners havent been let in, the prices I wrote show HIGHER price raise in Phils during a period including before covid too.  You refered to Sweden. There have prices around doubled since 2005.
And real estates are normaly bought for longer periods anyway...

"The whole idea of an asset is thats its fungible, liquid, and realisable"
"WRONG.  It can be huge value to have possibility to USE an asset."

Not if the asset is based in a country like the Philippines. The sheer opacity of the Philippines land and property market in terms of pricing not to mention the legal complexities and associated conveyancing and legal costs make for a living nightmare. If things do go wrong and the courts get involved well good luck with that. The asset cannot be passed on until title has been settled. The legal process is akin to watching an hour hand of a clock go around.
Well. ok to include a risk factor when calculating,
BUT the earning potential is so much higher in Phils than "western" countries so its very good odds anyway...
I mean for foreigners with business experience, not for foreigners who believe they can become successful barowners by being frequent barcustomers  1f923.svg
I dont find 5 % per year any interesting, but 3 - 10 times the investment in 5 years is... And thats the EARNING, the real estate will remain still which can go on be used for earning...

The majority of  expats considering the purchase of land or property in the Philippines will do so by selling their main (liquid) asset in their home country. They cannot afford to sell  this asset for a punt on what at best is a volatile market and at worst a potential financial sink hole once the honeymoon period has run its course.

You count COVID effect making Phils a volatile market!   
Even INCLUDING the covid period the prices at inland I talked about have gone from zero  (=no one buying) (2) 4p 2007  to att least 10p - more common 15-20 - NOW inspite of covid...
Furthermore its pretty rich to give 'advice' on this Forum without having had first hand experience of implementing what you preach in abundant voluminous never ending quantity. May I suggest that 'preaching' is about the only thing that you excel at.
- @Lotus Eater

Say YOU. What a BS - again - from you. You excel at such  big_smile.png  You claim I dont have any first hand experience inspite of I have a business at Palawan!!!
You have written a lot of BS against me, but how many percent have you managed to prove me wrong...?   1f923.svg
Inspite of I havent been there in many years, many both Filipinos and foreigners living in Phils and know me private, have said they find me knowing MORE about Phil province and business than most, even several times wondering how I could know...  Except a foreigner with a successful business in Phils havent said I know more than him   smile.png  He is import/export wholesaler in Phils since around 20 years ago in same business type as we are producers so I suppouse HE can judge I know what I am talking about and he said he want to handle export of our products if/when we can deliver minimum a full container per month (which will take time before we can reach).
But it isnt hard to know more about province. because most of rich Manila Filipinos and many of foreigners living in GATED subdivisons dont know much about life outside... big_smile.png
Okieboy

@coach53 not very hard for a Filipino wife to solve a problem with a foreign husband

coach53

@coach53 not very hard for a Filipino wife to solve a problem with a foreign husband

- @Okieboy

So better for the foreigner to not get dangerous relatives
and better stay worth more alive than dead   - and a wife clever enough to underrstand that.
dodi1000
@Enzyte Bob

Sir,  you have summarised all.
dodi1000
@Enzyte Bob
Sir
What is that " 7 years itch phrase means" would you explain further? 
Regards
Lotus Eater
If I may intercede and try and answer that one. This phenomenon is particularly prevalent in the Philippines. The analogy is the Black Widow spider. Often after the male and female have mated the female will eat the male for the benefit of the progeny. The Filipina has no need for the male anymore: the house has been built and the bank account emptied and the old fart is probably on his last legs anyway.
PhilRes
This is going to get a workout:

Libel is defined by Art. 252 of the Revised Penal Code as a public and malicious imputation of a crime, or a vice or defect, real or imaginary, or any act, omission, condition, status, or circumstance tending to cause the dishonor, discredit, or contempt of a natural or juridical person, or to blacken the memory of one who is dead.

This ain't the common law, UK, USA, Libel, its criminal, means that truth is not a defense, Prosecutor then JUDGE no jury finds it was "malicious" to write and it "tended" to dishonor....etc.

This is a CRIMINAL charge. Get arrested and have to make bail if charged...

THINK on this before you take to facebook/twitter to rant on somebody that ran into your car, even, (had Filipino discover this the hard way)

The law is actually there to silence and protect reputations, by self-censorship or by force, negative press / opposition.  The App't as Sec'y of Justice is signal to what is to come.

The change in the Press is palpable since election.

and THAT is all I'll add to this discussion....
PhilRes
oh and

Art. 354. Requirement for publicity.-  Every defamatory imputation is presumed to be malicious, even if it be true, if no good intention and justifiable motive for making it is shown, except in the following cases:
1. A private communication made by any person to another in the performance of any legal, moral or social duty; and
2. A fair and true report, made in good faith, without any comments or remarks, of any judicial, legislative or other official proceedings which are not of confidential nature, or of any statement, report or speech delivered in said proceedings, or of any other act performed by public officers in the exercise of their functions.
Enzyte Bob
oh and

Art. 354. Requirement for publicity.-  Every defamatory imputation is presumed to be malicious, even if it be true, if no good intention and justifiable motive for making it is shown, except in the following cases:
1. A private communication made by any person to another in the performance of any legal, moral or social duty; and
2. A fair and true report, made in good faith, without any comments or remarks, of any judicial, legislative or other official proceedings which are not of confidential nature, or of any statement, report or speech delivered in said proceedings, or of any other act performed by public officers in the exercise of their functions.
- @PhilRes
Lotus Eater
@PhilRes



“This ain't the common law, UK, USA, Libel, its criminal, means that truth is not a defense, Prosecutor then JUDGE no jury finds it was "malicious" to write and it "tended" to dishonor….etc.”

Your above paragraph is incorrect regarding UK law. In the UK defamation is a civil action. Criminal libel was repealed in the UK in 2010 under the Coroners and Justice Act 2009.

“Art. 354. Requirement for publicity.-  Every defamatory imputation is presumed to be malicious, even if it be true,, if no good intention and justifiable motive for making it is shown, except in the following cases:”

Again for the record you should make it clear that the above does not apply to all jurisdictions. Under the UK Defamation Act 2013 and I quote ‘ It is a defence to an action for defamation for the defendant to show that the imputation conveyed by the statement complained of is substantially true’
Guest295824

@Vannder I don't see a lot of changes, just a lot of paperwork as always, one of the few countries that charge you to leave

- @Okieboy

Neither do I. As far as I can tell, the only changes this bill would have if it passes the house and senate is the tourist visa would simply be renamed to the A-2 visa.

There are rumors that it might end the 6 months extension of the tourist visa leaving only the 1 and 2 month extension but again those are only rumors and so far unconfirmed.
Guest295824
This is going to get a workout:

Libel is defined by Art. 252 of the Revised Penal Code as a public and malicious imputation of a crime, or a vice or defect, real or imaginary, or any act, omission, condition, status, or circumstance tending to cause the dishonor, discredit, or contempt of a natural or juridical person, or to blacken the memory of one who is dead.

This ain't the common law, UK, USA, Libel, its criminal, means that truth is not a defense, Prosecutor then JUDGE no jury finds it was "malicious" to write and it "tended" to dishonor....etc.

This is a CRIMINAL charge. Get arrested and have to make bail if charged...

THINK on this before you take to facebook/twitter to rant on somebody that ran into your car, even, (had Filipino discover this the hard way)

The law is actually there to silence and protect reputations, by self-censorship or by force, negative press / opposition.  The App't as Sec'y of Justice is signal to what is to come.

The change in the Press is palpable since election.

and THAT is all I'll add to this discussion....
- @PhilRes

Correct. It’s a criminal act in the Philippines. Even if the said person is literally guilty of a crime or terribly immoral act and you literally have evidence of them doing it. Catching them red handed. Even if you can literally show proof of something like a syndicate or cyber scam ring, you’ll be the one who might actually end up in jail if you expose them. Even if you failed to get justice through official channels. (Inside of the Philippines anyway).

Whereas in the U.S. defamation is a civil matter. You can sue someone if you want in U.S. civil court…but you better be like Johnny Depp with his millions. Because it’s going  to cost you tens of thousands (US dollars not pesos) for just a low rent lawyer and court fees. Besides it doesn’t actually qualify as liable in the U.S. if it’s actually true. In the Philippines it does. 

Just be careful of conducting illegal surveillance in some states in the U.S. In certain states that really is a felony and criminal offense. (Ex. Don’t put recording devices in your boss or ex girlfriend’s house and then stream it to social media in Louisiana).
PhilRes
My point was it criminal here UNLIKE UK and USA and it has been and will be used to intimidate and sensor free press and opposition.

I would thus recomend any foreignors that think the Twitter culture of USA, etc., extends here, just do as I have for the last 29 years in 5 countries, leave local politics to the citizens, bitch all you want about your own back home...
Guest295824
@coach53

You are wise.  Stay the he77 out of Philippine politics because it is a textbook example of a no-win situation.
Okieboy

@Lotus Eater he is not wanted for a crime as such, but Contempt of court, they could issue a warrant if he came to USA

danfinn

@Vannder My understanding about the 6 mo issue (actually the entire 3 year stay) has been: That extension is part of a separate law thst includes the visa waiver provisions for x number of countries, which is separate from the general immigration law beibg replaced. Nothing in the new law obsoletes those separate legislations. The same holds true for SRRV etc.. I am not an attorney of course but this is what I have heard and it does seem to make sense.

PhilRes
BB has diplomatic immunity now and State has confirmed that it extends to that warrant for contempt issued by Federal Court in Hawaii.  So he is free to move about the USA so long as his purpose is as President of the Philippines (no vacationing in Hawaii).  He will need to be invited or have a UN function to decide to attend, etc.  -I will stop there.
coach53
@coach53

You are wise.  Stay the he77 out of Philippine politics because it is a textbook example of a no-win situation.
- @The Cold War Kid

I know.  But I am Swedish, we have hard to shut up 1f923.svg  when see power abuse including corruption. 
(Thats why Sweden have much lower corruption than USA by Swedes protest when seeing such. E g one expected next prime minister lost it by using card ment for parlament to pay a litle private costs.)

And I know better stay out of religious discussions too, but several Filipinos have got suprised  smile.png  when I tell them Jesus protested against the church (temple)  about the commersialism there - and catholic church - Vatikan - is very greedy...  The Catholic church even invented the possibility to PAY to get rid of sins!!!   It seem neither schools not church tell about Jesus protested against such...
Enzyte Bob
@coach53 says: The Catholic church even invented the possibility to PAY to get rid of sins!!!   
************************************************************
Let a Swede free of sin cast the first meatball.
coach53
@coach53 says: The Catholic church even invented the possibility to PAY to get rid of sins!!!   
************************************************************
Let a Swede free of sin cast the first meatball.
- @Enzyte Bob
I havent claimed I am out of sin, but sure much less than the hypocryt Vatikan...  smile.png   who protect a lot of pedophile priests  1f621.svg
Enzyte Bob
@coach53 says: The Catholic church even invented the possibility to PAY to get rid of sins!!!   
************************************************************
Let a Swede free of sin cast the first meatball.
- @Enzyte Bob
I havent claimed I am out of sin, but sure much less than the hypocryt Vatikan...  smile.png   who protect a lot of pedophile priests  1f621.svg
- @coach53

********************************************************************
The youth wing of the Liberals in Sweden voted to support legalization of sex between two consenting sibling over the age of 15 and sex with a corpse if written permission  was made before the person died.
kristopherryanwatson

@Enzyte Bob

Exactly. I have been propositioned by many close acquaintances (not to mention family relatives and friends) for the  undertaking of property investments.  30%?  45%?  no, I rather have it all or nothing at all.

things can easily get messy if the partnership goes wrong, and i want no part of the legal fallout of such a thing.



Enzyte Bob

@Enzyte Bob

Exactly. I have been propositioned by many close acquaintances (not to mention family relatives and friends) for the  undertaking of property investments.  30%?  45%?  no, I rather have it all or nothing at all.

things can easily get messy if the partnership goes wrong, and i want no part of the legal fallout of such a thing.



- @kristopherryanwatson

The real hidden negative thing about a Philippine National owning 60%.

(1) How many Philippine Nationals could come up with 60% for some realistic endeavor?
(2) If a Philippine National owned 60% he would NOT need some Expats 40%.
(3) In reality the Expat would put far more than 40%, he would be the major contributor.
(4) The Philippine investor is probably a Ghost, no money or very little invested.
(5) This Ghost can stick it to you whenever. 
kristopherryanwatson
@Enzyte Bob

Exactly.  The same headf*ckery exists for Expats who want to setup a Business here.

They have to be co-founded with at least one Filipino National with 50% ownership. The business cannot be a sole-proprietorship. and more than 50% of the capital investment must come from Filipino Investors..or something to this extent.

either way, it is not very attractive to Expats at all.

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What is your Electric Bill like ?
Cities In Mindanao that are Safe to Visit
Filipinas who develop a bad attitude when they marry a foreigner
Sense of humour in the Philippines
Question about food and water
Manila loses an iconic venue
divorce or annulment whats the cost and how quick
Best Drinking Water?
cost of a plumber
Balikbayan Boxes: How long to arrive from US post CV19?
Campervan in The Philippines.
Other discussions about everyday life in the Philippines
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