It’s Your Money > Starting and Running a Business

Majal, would you like to chat with me about investment in the PHL

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Art, just a re(tired) Fil-Am:
Just as an added side note to mcalleyboy's post, China does not recognize dual citizenship. So, they are either one or the other and or just 13a permanent residents or plain regular tourists. I don't know the stats for each immigration status, but I would assume those born here long ago are mostly Filipino citizens and do own a lot of businesses in the Chinese district of Manila, 60/40 ownership in the Philippines I'm uncertain of though. It's that way too in Northern California's San Francisco's China town district and they too have a long immigration history!
BTW, also Japan does not recognize dual citizenship either, they are too proud of a nation with strict long ago traditions to let in foreigners, until the first foreigner, Fernão Mendes Pinto (Circa 1509 – 8th July 1583) got his foot in the door.  ::) ??? :o ;) 

60/40 rule is pretty simple, 60% of the company must be Filipino owned.  If you are married to a Filipino/a they can not be part of the 60% if you the non Filipino/a are the 40% or part of it.  You and your spouse are considered one entity.  Being born and raised in California , I have never heard of a 60/40 business being the norm in San Francisco's Chinatown.



--- Quote from: mcalleyboy on October 27, 2015, 12:35:50 PM ---Majal you mentioned the Chinese are doing pretty good but they sort of own the Philippines, the banks, developments, mega malls the large business they control imports, you are stuck with Chinese junk and they sell the high-quality stuff and ban it from entering the country.  Example's would be when the US hit the reef, what an outcry from protesters with professional signs and then when the Chinese build on Philippine Islands...?  Nothing in the streets, Lol, all sign's to me that a country has already been bought. 

Chinese have Philippine citizens here do the dirtiest jobs and lowest pay, sort of similar to China, same with the business ownership law 60/40, same law in China.

--- End quote ---

There's a lot of truth in what you said about them owning business, they are that--Businessman, Traders for generations.... In my own family, over generations there's mix of Chinese descendant. Beautiful mix I might add. They are Filipinos that has same rights as every Filipino and known more as "shrewd" businessman. That's not a news in the Philippines. Chinese descendants in the Philippines by generations.has existed and they are not indifferent to Filipinos. I have issues on the foreign investor you see now in Divisoria and Binondo....


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