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Can You Have a Property ?
But you must rent or lease the building you work in and the house you live in because of existing laws, unless you are married to a Philippine citizen. Foreigners are not allowed to own real property, though they can lease for up to 50 years with and option for another 25 That is more than enough for me.
Legislation has been proposed to allow foreigners to own some property. But it has not passed as yet. I believe if it does it will allow only enough for a domestic dwelling.
How about Jobs?
There are few jobs available to foreigners unless are married to a Filipina or Filipino. If so, you don't even have to apply for a work permit,just register at your local office of the Department of Labor and Employment, (DOLE).
The rational behind this prohibition against foreigners working is that there are not enough jobs to go around for qualified Filipinos.
So why allow foreigners to take them. And if you work for a Filipino company you would not like the pay, very low by your standards. If you have your own company or work for a friend, you may get a decent salary, if you are married to a Philippine. Some foreigners are sent here to work by the overseas companies for which they work in their countries. They are paid by US, companies, not Filipino.
Watch Vendor
Here are some representative salaries paid in the Philippines for those few who get them: But you must be a Filipino citizen or a spouse of a Filipino/Filipina to get one of these big money plum jobs and be rolling in the cash, have contacts and be lucky too. If you get one of these jobs, and you need to lose weight, subsist on this income alone, you will.
Looking For Job Here In Cebu?
Narrators wanted:
KEESS is based in Cebu is a research and development company. They have jobs recording English instructional materials. They need native speakers of English, one female and one male narrator for each recording session. As many speakers as qualified are needed.
Compensation Piece rates:
Each test item recorded is worth 10 pesos. The items are recorded in sets. The number of items in a set may vary - from 60 to 100 or more.
A 60-item set takes about an hour to record. This means 5 or more sets may be recorded in a day. Recording schedules are pretty flexible.
And audition required:
For more information and to apply write to:
cebujobs20@yahoo.com
Send your resume or bio-data to
cebujobs@yahoo.com |
Can You Own a Company or Invest Here?
And you can start your own company and hire people to work for you. You can supervise the management, legally. Foreigners, not married to Filipinas or Filipinos often actually do themanagement, through a hired manager, not totally legal, but in a gray area. and often over-looked if it contributes to employment of Filipinos here. You can train, advise, and direct as any owner would, just not be a "worker." Skilled labor is cheap; hiring workers is an option. Business can be very profitable if you do your homework. But you do need some capital. Some people lend money at high rates. There are no usury laws here. know that is hard to believe.
Capital is in demand. That is why business here, if you know what you are doing, is so profitable. Many are engaged in software, web page development, Internet Cafes, raising livestock, renting large houses and renting out rooms to student "bed spacers," six or more to a room. Franchising is an option because many local and international franchises are available for your to buy, own and have a Filipino manage. Many foreigners are involved in export too, especially handicrafts, but also agricultural products, and others. Be sure to join the American Chamber of Commerce, the Philippine Chamber of Commerce and the Chamber of Commerce for the City you are in. Belonging to the Rotary and there services clubs can be very important to your success. Also important is belonging to internet list and bulletin boards where you can exchange ideas and make contacts, source goods and services, business to business.
You Can be a Paid Consultant?
Some foreigners with special skills have been hired as consultants or even start their own consulting businesses. If Filipinos do not have the skills you have, this is legal. If you have your own business in your country, it is possible for you to come here and sell your consulting services. As a consultant you can work with Philippine Business who need your expertise. You need to be an expert in a field where consultation is needed and prove it to immigration.
Must You Pay Taxes On Income and Pensions?
You do not have to pay taxes here on your pension or other income unless it is earned here. Money you make here is taxable by the Philippine Government. If it is in excess of $90,000 per year, it may be taxable by the US Government too. This $90,000 changes, so if you plan to make in that neighborhood, better check for the latest amount. Since it always goes up, it is not a big concern.
Below is an excellent informative and "How To" post a member made and one I made to the Yahoo List for someone interested in doing business here. They may help you: Ray Philmore, posted this on the List in December 2001. Ray owns an establishment in Davao. He is still in business and doing well. My advice below his is not much different. You can do it, be very successful on little, but do it like Ray recommends.
It seems that many messages being posted have a certain amount of "How to make a small fortune in the Philippines" / "Start with a large one" syndrome about them. I have written a small piece below of my experiences in the hope that it will instill in some a more positive attitude towards the country and more.
Click here to read some post from the lists members about Business in the Philippines.
If you have no income or maintain a permanent residence in a state in the U. S., you do not have to file any state Income Tax Return in the previous residence state.
Working with the Internet, Outsourcing, Telecommuting to Another Country
I can assure you, doing a webpage like this one, will not make you a fortune. Mine is a losing proposition, but it was meant to be that way, a service. In three years my income has been less than $100. My costs, not including a batch of labor, much on the mailing List that accompanies the website has been significant, but bearable. But I could make money if I wanted, I am sure, not only with this website, but others that would be much more financially rewarding.
I am income telecommuting, can be achieve comparatively easy, now that there is DSL in Cebu, Manila and Davao. I would go that route myself if I wanted to have a very large income. But I would have to give up this hobby, something I am loath to do Telecommuting, outsourcing with Filipino talent, labor can't be beat for a way to make a large sum of money without a very large investment. I know of several cases and have first hand information confirming that with an investment of US $100,000 you can make up to a million US dollars a year, if you know what you are doing.
You don't need a lot of technical expertise but there are things you do need top know. And I say this with some authority, since I have been consulting on this kind of work before 1997 when I first e-mail then Senator, now President Gloria Macapagal Arroyo about it, and even before.
Below is a letter the President sent to me in reply to one I wrote her. It is a personal letter, but one that I am sure she does not mind me sharing, since it may encourage others to start telecommuting or "outsourcing" from the Philippines. She is for anything that provides decent employment for Filipinos and Filipinas, still sorely lacking.Sent 4/21/97.
From: gma@easy.net.ph
To: herringt@durian.usc.edu.ph
Subject: telecommuting
Date: Mon, 21 Apr 1997
Thank you very much for taking time out to send me e-mail and for your generous comments on my C-Span appearance. It is always a pleasure to hear from people like you who are forward-looking and have constructive comments.
Your proposal about telecommuting is of interest to me considering that its benefits will contribute to our goal of maximizing the use of information technology to boost the country's development efforts.
Telecommuting could truly become an integral part of NET21. In this regard,
I hope you can discuss your proposals with my NET21 staff, Ms. Mardi Mapa-Suplido, who can be contacted at the 8/F LTA Bldg., 118 Perea St. Legaspi Village, Makati, or with my daughter, Luli who is the deputy chief of staff of my office.
Once again, thank you and I hope to hear from you soon.
GLORIA MACAPAGAL |
A long association, many private conversations with the Office of the Vice President and later the Office of the President, The Office of the First Gentleman, and other contacts I chose to keep confidential, came as a result of this letter. A lot of progress and profit has been made, and there is room for more new money and new blood to enter, especially as the international economy continues to rebuild and the Internet continues its Inevitable expansion.
Today call centers are the focus. But I know the real money for most lies foreigners lies elsewhere, often in a professional or with a skill in demand, supervising the local Filipino talent and selling their services in developed countries using broadband. Call centers are expected to top out in 2006.
There are a lot of things to know before entering into this work here. If you need consultation, I am available. Just contact me at :don.herrington@livinginthephilippines.com I consultant in this area, and also in foreigner/Filipino business and personal relationships, providing fee based services to selected qualified individuals and companies.
Click here to read about " An expat, (forienger) describes the pros and cons of being employee, having a job in a US country in the Philippines.
What type of special need skills/jobs are most seen held by foreigners? What type jobs do those expats you mention have?
High technical skills not available here or senior management. If for an American company chances are you are already working that company and they relocate you, or worked for a similar company in Asia. Asia Development Bank is based in Manila, excellent to work for, this is their criteria:
Applicants must:
>>be citizens of ADB member countries possess very good academic background (those with post-graduate degrees such as MBA, MS, or Ph.D. are given preference)
>>have considerable expertise and years of experience in their profession
>>have multi-disciplinary background and with experience in an international environment with involvement in developing countries
>>have proficiency in both written and spoken English
>>have the flexibility to work with other nationalities and with different cultural backgrounds
>>be willing to travel on mission to member countries, if required
With ADB committed to increasing the number of its female professional staff, applications from women are actively encouraged.
http://www.adb.org/Employment/default.asp
There are also either kind of jobs not working for a corporation such as those at embassies etc. |
Money Lending Business in the Philippines :
How the money lenders get rich!
I have seen Filipinos and foreigners doing this, with and without license, successfully over the years. I also have seen many fail. It is hard work and no sure thing even if you have a family you can trust and chose your lender carefully. Many think it carries bad karma and it can be dangerous. Beware, it is not for the faint of heart.
Yes, lending directly to small businesses may be quite lucrative.
Also sometimes lending to professional who have a steady source of income is just as profitable.
How profitable? Take a look at the calculations below:
If you charge 5 percent per month for two months on a P10,000 loan, that yields P1 000 in inter est. Compare that with very high T-bill rates of 25 percent per annum 011 the same loan for the same two months: P417 interest. (Actually T-bile rates are much lower.)
And what is the reason for the big discrepancy? The “measly” 5 percent per month translates into 60 percent per annum, a level which the banking system just can’t match.
Other questions come to mind. Why are borrowers willing to live with such astronomical interest rates?
One reason is the very nature of the firms which borrow.
Many small enterprises have high rates of return—due to their small size, they have to maintain such levels just to keep going.
They can thus afford to pay high interest.
Secondly, the loans are small and short-term. While the rates may be high, the actual amount they borrow is low.
A third factor is speed or timeliness. While firms have to go through time-consuming procedures in the banking sector, alternative lenders can provide instant loans.
But aren’t money lenders exploiting the needs of others? Some may regard them as the "Fagins" "callosed thieves" of finance. According to research findings, the borrowers themselves do not share that view. To them, these lenders extend help regularly and especially when they are in dire need. They provide an economic service for the small fry which the big time banks may not bother with.
But isn’t the practice illegal? Actually, no: Check the law books to verify this.
Some may fear that the risk involved here is large. Contrary to that view, money lending appears to be quite a safe enterprise, according to research.
The key is to ensure SMALL and FREQUENT payments. It is also important to know the client sufficiently.
Years ago Social Weather Stations conducted - a study on the informal credit market for the Asian Development Bank. The research used the case-study approach.
One lender interviewed was a doctor who examined applicants for insurance policies. She had been in the money lending profession for 15 years, and the practice actually comprised half her income.
Her source of funds was savings from her profession as a physician. Her outstanding loans totaled P300,000 distributed among 10-15 persons.
Guarantees
The doctor said she determined the reliability of the borrower through guarantees from friends and relatives. She lent on1y cash,with P7,500 being the most common amount, while maintaining a loan ceiling of P20,000.
She charged an interest rate of 20 percent but required no collateral.The doctor claimed that there were no risks nor defaults. At worst, she only had to put up with very delayed payments. In the SWS research, a total of 27 cases were analyzed. The following were some highlights of the study.
• The majority of the lenders were businessmen or professionals.
• A majority of 17 considered money lending as no risk, six as minimal risk and only three as big risk.
All denied there was a security risk in terms of robbery and default in payments. They considered delayed payments as part of the whole business.
•Many of those who could borrow from banks still turned to moneylenders.
• Money lending provided substantial returns.
• Businessmen borrowed from moneylenders at interest rates higher than those charged by the banks. This might be because businessmen needed the money for immediate investments.
The difference between the banks and moneylenders rate could be offset by the high profit the businessmen earned from such timely investment.
• Almost two-thirds of the lenders derived half or all of their income from money lending, while only two cases said it represented only 10 percent of their income.
• The predominant source of funds used for money lending was their own savings. Only four borrowed from the bank.
In 11 cases, the outstanding loan was from P20,000 to P60,000 and in eight cases, from P100,000 to P315,000. It was significant that majority of the amounts borrowed were in the range of what could be saved by individuals.
• Payments were frequent, with most on a monthly basis and some every 15 days or even on a weekly basis. A few collected even daily.
• Loan maturity was often from one to three months.Some went as long as six months.
Thus each moneylender could lend out four times a 1 year to the clientele.
The very frequent payment and the short maturity of loans might be related to the informal method of determining the reliability of clients. This was done through friends, relatives or simply an assessment of personal character.
• Most respondents did not feel the competition among colleagues, because they knew that there was a constant demand for loans.
• Imposing collateral for loans was seldom practiced by moneylenders.
There was an underlying bond of trust between moneylenders and borrowers. Loan agreements were made verbally and seldom were promissory notes signed. Most of the defaults were men, not women. Women here may have a harder time getting credit and value having it more then men, want to keep it.
Such relationships were possible because of % the proximity of residence or business activity. They lent to officemates or friends of officemates, to people they see once a week.
I would hedge on that feature though. To be on the safe side, it is still best to have some collateral and signed documents on hand. And yet, wonder of wonders, the lenders I talk to claim, there are few or no cases of default despite the absence of collateral.
I do know of some isolated cases where someone may put up a stolen car or other stolen property for collateral. The lender can still suffer loss with such illegal collateral.
Again, unless you understand and respect the Filipino character, and values, have a family and connections, doing business here is hard, especially the very lucrative money lending business. See your lawyer here if you want to get information on licensing and other business requirements.
Job Sites For Philippine Jobs:
Most of these jobs are for Filipino citizens. They are the major ones here;
http://www.jobsonline.com.ph
http://www.philippinejobs.ph
http://www.bestjobs.ph
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