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Pros and Cons of Being Employed

An expat, (foreigner) describes the pros and cons of being employed, having a job in a US country in the Philippine.

I spent many years living and working as an ex-pat in Europe, Africa, and Asia (incl. the Philippines). I worked for the world's # 2 distilled spirits company in the duty free, airline, and railroad markets in the sales division. $ 100,000 is a very realistic salary figure, but that comes with many, many benefits like cost of living allowances, overseas pay, paid housing,company cars and drivers, transportation of household goods from country to country, stock options, 401K plans, tax allowances, annual bonuses, etc. I was normally set up to live in one country, but was responsible for from 4 to 8 additional countries in the region.

Circumventer the Anti Dummy Laws

The law is quite specific that a Philippine corporation must be 60% owned and subscribed by Philippine citizens. Indeed the anti-dummy legislation was introduced to achieve this very purpose. The penalties available for contravention of these laws include five to fifteen years imprisonment, sequestration of assets and deportation. Put quite simply, foreign participation in a Philippine corporation may not exceed 40% and foreign investment in a Philippine corporation may not exceed 40%.

Getting Paid Doing Business

This is an interesting exchange between guest on our mailing list regarding how to get paid doing business in the Philippines.

Dan wrote:

Point to ponder; Can you get blood out of a turnip? My girlfriend is a pianist who taken over operating her family's music studio. Mostly teaching piano, but sometimes vocal and other instruments. When I talked last with her about her business she said she had over 50,000 Pesos in receivables.

Doing Business in Cebu City

Important Question:

• What are my rights and privileges as a foreign investor?
• Can I, a foreigner, own land?
• I am a foreigner and I would like to invest in the Philippines, what is the first thing I should do?
• What advantages do I get in locating in an industrial estate?
• Other than the wage/salary, what other costs or benefits do I have to give my employees?
• How will I import capital equipment? Are there restrictions in importation?
• How will I import raw materials/supplies? Are there restrictions in importation?
• Application for Barangay Clearance / Permit?
• How does one go about applying for a Mayor's Permit/Municipal License to Operate?
• What is done at the Bureau of Internal Revenue (BIR)?

Business In The Philippines

Ricardo and Don's Post About Business in the Philippines

Ricardo wrote June 2003

I would like to know a good business I could start in the Philippines

Thanks Ricardo

And then Don Herrington wrote:

Dear Ricardo,

I would too, if I wanted to stress myself out. But since I don't want to take the plunge and don't have to, I can only give you my perspective on the successes and failures I have seen here, over the years.

 

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